Firm urges FG to invest in infrastructure
By Emmanuel Oloniruha
A real estate firm, AIBEN Investment and Properties Limited, has urged the Federal Government to prioritise infrastructure development, to attract more private investment into Nigeria’s real estate and commercial sectors.
Chief Executive Officer (CEO) AIBEN Properties, Andy Elerewe, made the call at the unveiling of the firm’s multi-billion naira commercial complex, CitiMall, in Lugbe, Abuja on Saturday.
Elerewe stated that with the right infrastructure in place, investments like the newly unveiled complex could multiply, create jobs and reduce the strain on city centres.
“We are diversifying and to come up with something like this in this area is very gratifying.
“ I’ am very satisfied and happy because we now have results. It is always very easy to start something, but you need a lot of courage to finish.
“I have to be honest with you. It is not so easy because the infrastructure is not there to support things like this. But I don’t think it is that bad. So, we need to also learn what we can do to support the government. The government is seriously overwhelmed.
“I am not trying to speak for them. But for us, we will continue to do the best we can, to support the government and then, get the service across to the people. That is the most important thing,” he said.
Elerewe argued that Nigeria’s market potential remained enormous, despite perceived challenges, adding that the country presented a vast market with immense opportunities, depending on the perspective from which one viewed it.
According to him, his team are pleased to embark on the project, expressing confidence that with proper management, it will deliver significant results.
He said the most important aspect of the initiative was service to the people, particularly residents of Lugbe, who now had access to a facility that catered to their basic needs.
Elerewe explained that the project was designed to provide convenience and improve the quality of life for the community.
The developer called on private investors to look beyond Abuja’s saturated city centre and channel investments into satellite towns with growing population and untapped potentials.
He further stated that rather than residents traveling long distances to access such services, the facility had brought them closer to their doorsteps.
Elewere described the development as a one-stop destination, comprising a mall, a hotel, restaurants, and other outlets, that would assist residents save money and time, by meeting multiple needs in one location.
He advised policymakers to introduce and implement policies that would support the establishment of such developments across the country, ensuring they are well maintained and accessible to the public.
“Nigeria is a huge market. With good management, ventures like this will yield results. What people need is access to services close to them.
“This project saves residents money and time because they no longer need to travel far to meet their basic needs,” he added.
Elerewe further advised the youth to embrace resilience and hard work, rather than sought quick wealth.
“This get-rich-quick syndrome shouldn’t be there. Everything takes time. Be ready to stay on course, and the results will come,” he added.
A former member of the House of Representatives, Emmanuel Ekon, who witnessed the unveiling, reinforced the call for improved infrastructure, urging government to deploy taxes effectively.
Ekon, who represented Abak/Etim Ekpo/Ika Federal Constituency of Akwa Ibom, said he was not against government colleting tax, but that the fund should be channelled to provide the necessary infrastructure, to enable businesses including real estate.
“I don’t see taxes as a kind of punishment by the government. But what I will advise the government is when they are charging taxes, they should do things to better the life of Nigerians.
“They should use that money to put the necessary infrastructure in place, so that young Nigerians who want to venture out on their own, can take advantage of that and do what Andy is doing here or even more,” he said.
He commended the initiative of Elewere for the investment, describing him as a focused and upright Nigerian, doing the right thing to survive.