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We Build Fantastic Homes, Sell at Affordable Prices and Generally Care for Clients’ Needs – Ade Adebajo, CEO UT Homes

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By Eric Elezuo

The UT Group, in more ways than one has conquered the world of financial services with their their brand UT Financial Services, and testimonies abound. Today, the company, in its grand expansion drive, has diversified into what Nigerians need most – clean, solid affordable houses, and so the emergence of UT HOMES, which in the brief period it has existed has broken new grounds, provided an alternative that has marvelled clients and simplified the business of providing homes.

Sitting atop the enviable organisation is the workaholic and result oriented Chief Executive Officer, Mr. Ade Adebajo, who revealed to The Boss the mouthering delicacies UT HOMES has brought to the table. Excerpts:

What is UT Financial services all about?

As the name implies, UT Financial Services is an organisation reputed for giving glorious financial services to the public, and its service is as regulated by the Central Bank of Nigeria. We are regulated to perform the functions of loans giving, investments, capital raising and anything that concerns finance generally. Just mention it, and UT is basically equipped to handle it.

How long has UT Financial Services been in this great endeavour?

UT has been in existence for as long as 10 prolific years in Nigeria, and has been regulated by the CBN in those years.

In 10 years, what could you readily say are their achievements?

Mr. Ade Adebajo exchanging ideas with the Project Manager, Mr. Michael Olaiya

In the first place, the fact that we are still here and waxing strong indicates that we are doing something great in terms of functioning within the ambit of the law, giving enduring services to the public and helping to build and raise the GDP of Nigeria. It may interest you to know that about two months ago, the CBN revoked the licences of about 148 finance houses and micro finance companies involved in finance and loans but our professional standing stood us out, and we are still here.

Mr Adeabajo explaining a point

Again, in the market place, it has been noted even with the regulators that UT has grown. We have done very well. We have met all our obligations. We have had no complaints whatsover in those 10 years. We have been able to meet the demands of majority of our customers. We have brought in new products. We have also expanded our branches, all within a space of 10 years.

Apart from rendering financial services, what other expansion is associated with UT as a veritable group?

Having looked at the market, we noticed the shortage of housing among Nigerians, especially in Lagos and Ogun state, so we formed a sister company called UT HOMES. This company acquires properties and goes into Joint Venture with like minds (individuals or companies), built houses, rent them out and sell some of them at prices anyone can afford.

With Mr. Abraham Amkpa, the Chief Consultant

Still on UT HOMES, what can you say is its practical mission, vision and objective as the case may be?

At the moment, UT Homes is building nice and affordablre houses. We have targetted the segement of the market where people hardly go to – the low and medium income earners. In our consideration, we realised that somebody just have to cater for this set Nigerians, and we took it upon ourself to get them something also in the neighbourhood of luxury as well. Of course, there is still profit in it. So we build nice houses, gated communities and sell at moderate prices to those in that category. On top of that, if you are not able to pay, we offer you mortgage services and gove you the loan to buy it which is mutually beneficial. As you can see, UT is basically out to bridge the housing gap in the society.

You have spoken like you have the interest of your clients at heart and paramount?

A cross section of UT staff undergoing training

At UT, we have discovered that if your clients are not happy, the business will remain stunted – it wouldn’t grow so at the heart of everything, we put the interest of the clients above all else even at the expence of our profit. We the clients are happand vice versay, we make profit, and that is why we make every of our product affordable. At ut, it is always customers first. Our products are also tailor made. The client can come to us and discuss their terms as regards what they can afford. We are very flexible. We can make it suit your particular purpose. And that is why our concentration is on client satisfaction.

So far, what inroads have you made in this journey of satisfying customers and providing affordable housing at the same time?

So far, UT Homes is currently building a number of houses in Mowe – about 10 units in that particular location. It is a test run for that area, and people are already subscribing. And they like it. Honestly, they are fantastic buildings in a gated community. It is a place someone can acquire as a second home for relaxation at moderate price. At the same time, UT is in JV with another company in GRA, Ikeja to build about 18 – 20 units with swimming pool and other luxuries. These apartments will be rented out, also at affordable prices.

Mr. Adebajo explaining a vital point to a customer

Again, we are discussing with another company in the Aja area of Lagos for another set of apartments. We build, beat the cost down for the customer as it suits the environment.

What are the enabling environments as regards government policy, staff welfare and prolific builders that have propelled your firm to this height?

There are particularly no great challenge as God in the first place is involved in all our activities. The enabling environments are very positive. Lagos state for a start; it has been smooth sailing. In Ogun State, there was a bit of challenge and delay, but everything worked out in the end. The secret is have your paper work in good stead and there will be no problem. In terms of workforce, we have the best hand both in the field and in the office. Our builders are reputed and the equipment used are superb. Again, land is readily available as there are a lot of people who have seen our worth and what we can do and are willing to go into joint venture with us.

The symbol of UT Homes

Let’s put it succintly; why would I choose UT Homes among the plethora of home providers scattered everywhere?

The secret lies in this simple expression – we care. Let me surprise you – you can call us after you have bought and concluded transaction with us, in fact at anytime. UT Homes will sell to you a solid property made with the best of materials at the best of prices as well. We don’t just present ourselves to you as UT Homes; we present ourselves to you as your partner in growth, and monitor you every step of the way, resolving problems and challenges as they arise. It is that caring syndrome which most companies in the business don’t have. Over the the last 10 years, our client will testify that we actually do care.

Do we take it for granted that by ‘we care’, you mean you also offer after sales services?

Of course, we really do after sell services. More especially, once you are a UT customer, you have definitely become a family member and we go with you all the way. Take this scenario: a customer comes for loan from us, use it to start up his business and eventually pays up will still receive our assistance when they run into problems. There are more a handful of such cases. We don’t say because you have repaid our loan so we should leave you to stew in your own juice – no. We go with you all the way, and that is the meaning of we care. Once you have come into the fold, we see you as a client forever. Note that most of these challenges are not even UT’ s problems, but we will always listen. We direct them to the right places, help them correct basic presentations and all what nots. And that’s the basic difference – We care.

Now, let’s break down the ‘we care’ policy

By we care, we mean we care. We make our rent affordable. We care to train our staff on friendliness towards the customer. We care to consider your business even after you are through with us. We also care enough to help you navigate your business. This is beyond the scope of our business. Our rates are above all, fantastic.

In five years, where do you see UT Homes?

In five years, I see UT Homes spread all over Lagos. We are already giving good returns on investment, delivering quality products, which, as they are adding up, people continue to notice. And when they do, they come looking for us, and that’s how the spread will multiply. However, the ultimate is catching the attention of the Lagos State government towards replicating what we do on a greater level. That’s where I see us going.

Any possibility of spreading beyond Lagos State and across Nigeria?

Well. we are already in Ogun State and will soon be in Port Harcourt and other places. We already have a strong presence in Ghana and we are moving on.

What would you say to those aspiring customers out there looking for you?

Come let us discuss, and you will be happy you did. Come to 1437 Sanusi Fafunwa, Street, Victoria Island or 3/5 Regina Omolara Street, off Opebi Road, Ikeja.

Thank you very much Mr. Adebajo

Thank you

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NNPC Denies Reducing Petrol Pump Price

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The Nigerian National Petroleum Corporation (NNPC) Limited has declared that there is no plan to reduce the pump price of Premium Motor Spirit (PMS) aka petrol and Automotive Gas Oil (AGO) aka diesel.

The national oil company disclosed this through a statement on Wednesday by its Chief Corporate Communications Officer, Mr. Olufemi Soneye.

He said: “The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

“The company asserts that these reports are false and urges Nigerians to disregard them entirely.

“NNPC Ltd. reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country,” the statement added.

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Midoil Unveils Three-In-One Investment Opportunities

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By Eric Elezuo

The ballroom of the prestigious Sheraton Hotel & Towers Ikeja, was an epicentre of history on Sunday when thriving petrochemical company, Midoil Refining and Petrochemicals Company Limited, under the leadership of its Executive Chairman, Chief Mrs. Elizabeth Omolara Akintonde, hosted the who is who in the industry to the unveiling of its tripartite investment opportunities consisting of the Midoil Refinery project, SereneCity Properties and Serene Partners Energy to be situated in various communities within it acquired land at Ikosi/Ejirin Local Council Development Area, Lagos State.

Anchored by Ben Ogbeiwi of Project Fame, and coordinated by Otunba Gbenga Onayiga, retired Acting Director of Federal Radio Corporation of Nigeria (FRCN) Network News, who is also a veteran journalist, the event was graced by dignitaries both from the political, traditional, and entrepreneurial circle including Retired Deputy Inspector General of Police in charge of the Force Criminal Investigation Department (FCID) Abuja, Babatunde Johnson Kokumo, Baale of Sekungba, Chief Solomon Omotayo, Baale of Arogbo, Chief Adesanya Oyenubi, Baale of Ererufu, Elder Gabriel Lawal, and the CEO, Gidi Real Estate Investment Limited, Tobi Akerele.

The event x-rayed the opportunities inherent in investing in these lucrative ventures, which have been designed to change the landscape of Lagos State in particular, and Nigeria in general, in both human capacity development, provision of employment and reduction of poverty.

In his speech as the Chairman of the occasion, DIG Kokumo lauds the efforts of Mrs Akintonde and her team for their assiduous efforts in ensuring that the day came to pass, adding that the unveiling of the tripartite investment opportunities is another way of stabilizing Nigeria’s economy, and giving the populace a reason to live, as well as making the environment habitable.

He reiterated that the meddling of government in matters of refineries should be discouraged as it is deterring private investments, he gave kudos to the Midoil team for a job well done.

“Today, I am glad that we have Midoil Refining and Petrochemicals Company Limited unveiling its long-time coming investment to the general public, and I want to commend the efforts of the Executive Chairman and the Board of Directors for these laudable investments.

When we examine the real estate aspect of what is being unveiled today, SereneCity Properties; provision of habitable homes, providing structures for Nigerians which have been the responsibility of the government, and what they have been able to do have been grossly inadequate.

Midoil, having diversified into the creation of SereneCity Properties is not a tea party; it is a project that calls for stocks and investment in Midoil Refining and Petrochemicals; stocks and investments in SereneCity Properties and stocks and investment in Serene Partners Energy.

“I consider these investment opportunities a veritable option for investors, who are seeking commensurate returns on their investments,” Kokumo said. He, thereafter, advised all dignitaries in attendance to give all the required support to the threefold opportunities.

In her address, the Executive Chairman, Mrs Elizabeth Akintonde, went down memory lane to dissect the origin and birth of the projects, which has spanned over 12 years, giving unhindered appreciation to Hajiya Amina Abdullahi, with whom the concept was birthed; to the Sekungba, Arogbo and Ererufu communities, where the projects are to be sited, and their Baales, who have shown immense support to the company and the projects from inception.

She exposed that the projects, rooted in the magnum, The Vision, The Journey, The Reality, were consequences of her desire to leave a legacy, and contribute generously to the growth of Nigeria, and to generations yet unborn, who basically, are the target beneficiaries of all the efforts.

Noting that the Vision is rooted in the foresight to establish a modular refinery in Lagos State, Nigeria, leading to the establishment and registration of Midoil Refining and Petrochemicals Company Limited in 2012, she informed that the Journey has been about procuring the large expanse of land required for the projects and all its ancillary, which include housing for expatriate staff, other senior, middle and junior staff.

“Today, March 17, 2024, we are unveiling our vision, our journey and our reality. We received our land allocation letter on April 24, 2014, and subsequently, on January 24, 2017, we were approved the Licenses to Establishment (LTE) by the Department of Petroleum Resources (DPR),” Mrs Akintonde informed of the journey so far.

“To the traditional rulers here present, you have refused to be enticed with cheap money. Therefore, on behalf of the Board of Directors of Midoil Refinery, I once again thank you for your patience and perseverance,” she enthused.

She however, expressed disappointment at some traditional rulers, including the Kabiyesi of Ejinrin, who reneged, and encouraged other Baales to work against the mutually signed MOU.

“Our mutual agreement for Midoil to inhabit the land in peace, as well as having received some financial benefits from Midoil over the years was breached with the latest activities of some communities including Ejirin in the sales of Midoil acquired land,” the Executive Chairman lamented.

She used the opportunity to call on governments at all levels to monitor the activities of land grabbers, and eradicate them completely, stressing that if not stopped, could jeopardize the many proposed development of the communities.

She also called on the Lagos State government “to create expansive awareness among traditional settlers on the land on the need to support developmental efforts by citizens, who wish to give back to the society that has been there for them.”

In addition, Mrs Akintonde urged the government through the Surveyor General’s office “to ensure proper documentation of all lands in the state as well as remove unscrupulous staff assisting ‘Omo Onile’ in perpetuating illicit land grabbing” as they are the reasons for unnecessary delays.

She further revealed that in the 10 years of hard work behind the scenes, Midoil has secured the interest of investors, and the consortium of investors are ready to invest a whopping sum of Five Billion Dollars ($5,000,000,000) in the project.

The highpoint of the event was the signing of Memorandum of Understanding, (MOU), with the three Communities led by their Baales.

Contract was also signed with UNILAG Consult for the conduct of the Pre-Feasibility Study for the proposed refinery.

The event rounded off with awards of loyalty and certificates of appreciation to deserving MPIC Member and other stakeholders in the Midoil adventure.

Notable among the awardees were Engr Sunday Ashaolu (MPIC Member) the Baales of Sekungba, Chief Solomon Omotayo, Baale of Ererufu, Elder Gabriel Lawal; Midoil First Media Coordinator, Mr. Babajide Morounfolu; Midoil Oversea Supporter and Consultant, through whom the $5billion investment was secured, Mrs Ngozi Louise Ogboru; Renowned Toast Master, Bennett Ogbeiwi; Mr. Daniel Adeleke Ogungbe, Very Reverend Oluwafunminiyi, Venerable (Dr.) Olusiji Olumide Kolawole, Mrs Kofoworola Olowolagba and Alhaja Bolanle Jafojo-Adedeji.

The groundbreaking at Sekungba/Ejinrin of the Midoil Refinery project is expected to take place on July 12, 2024, which incidentally is Mrs Akintonde’s birthday, as a follow-up to the March 1, 2024, groundbreaking of SereneCity Properties at Ererufu.

The refinery, when completed, will be producing at a capacity of 100,000 barrels per day (bpd).

Pix by Ken Ehimen

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Airtel Performs Groundbreaking Ceremony for its NXTRA Data Centre, Promises 1000 Jobs

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By Eric Elezuo

Prominent Nigerians were present as network communications service provider, Airtel Africa, performed the ground-breaking ceremony for the establishment of its NXTRA data centre project in Nigeria, at the prestigious Eko Atlantic City, in Victoria Island, Lagos, informing that the project is programmed to create over 1000 jobs for Nigerians.

The company noted that the facility, nicknamed the Nitra frontier, and reported as the first of five hyperscale data centres to be developed by Airtel Africa on the continent, will deliver 38 megawatts of total power and host high-density racks that integrate the latest best practice construction to achieve 1.3 power usage effectiveness (PUE).

It was also revealed that the data centres at full capacity will offer 180-megawatt capacity, distributed across 13 major data centres, and over 48 edge data centres.

Speaking at the event, the Group Chief Executive Officer of the Airtel, Segun Ogunsanya, who informed that the project is expected to go live by the first quarter of 2026, further stated that out of the 1000 jobs expectedto be created, 250 will be permanent once the project is deployed and at capacity.

He praised the project as marking a significant milestone in the company’s journey and is a cornerstone of the organization’s growth strategy, with a particular focus on Nigeria, which unarguably is its largest market.

He added that the project will enhance data sovereignty, security, and preservation within the continent, as well as reflect the group’s commitment to make Nigeria a major hub for access to digital services as it propel Africa towards a sustainable and inclusive digital age.

“This mega project will provide over 1000 jobs. More significantly, once deployed and at capacity, it will create over 250 permanent jobs for Nigerians whilst supporting companies in manufacturing, financial services, and health care as they move their data and computing into third-party data centers like ours.

“Ultimately, we have to store data and content closer to where it is being consumed,” Ogunsanya said.
Boost for digital economy

Ogunsanya was also of the opinion that with Airtel Africa’s extensive fibre footprint, NXTRA “offers secure and scalable integrated solutions to global hyper-scalers, large African enterprises, startups, SMEs and governments.

“Through locally available data centre capacity, speed to access digital services will improve and the cost of managing data will be reduced, thus helping power increased innovation, while supporting a new generation of African tech talent,” he said.

In his remarks at the event, that also has the governor of Lagos State, Babajide Sanwo-Olu, in attendance, the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani laud the creativity attached the innovation, saying it is in tandem with technology revolution that is fast engulfing the universe, with Artificial Intelligence (AI) as a main point of reference.

“Data is a key driver in our economy. Not only do we need to connect our people, we also must invest in the digital economy, and through the investment that companies like Airtel have made in our economy, we are fully able to participate in the digital economy,” he said.

Other personalities that graced that event include traditional rulers and stakeholders in the telecoms sector.

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