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SSA To LAGOS Governor, ESV JERMAINE SANWO-OLU
ESV. Jermaine Sanwo-Olu, a Senior Special Assistant on Diaspora & Foreign Relations to Gov. Babajide Sanwo-Olu is one of the bright minds and trusted aides presently working with Mr. Governor in achieving a greater Lagos and making the state of aquatic splendour attractive to those in the diaspora willing to come home and invest in the ever-booming real estate and built industry.
With the introduction of the Lagos State Trusted Developers Initiative which is designed to safeguard diaspora investors in the built environment. Prioritizing transparency, regulatory compliance, and unwavering integrity, the initiative ensures high standards in sustainable practices and trustworthiness, Nigerians in the diaspora are rest assured of getting the best hands in helping them develop and manage their land and housing projects while they are far away in foreign land.
Mr. Jermaine spoke extensively about the novel initiative during the recently held 4th Lagos Real Estate Market Place Conference and Exhibitions. In his address titled “Housing Nigerians in Diaspora”, he revealed what his boss, Governor Sanwo-Olu tends to achieve with the Lagos State Trusted Developers Initiative and how it will help sanitize the built industry for good. Below are the extracts from his speech:
“As a Nigerian who lived in the United Kingdom for a while, I share the experience of many in the diaspora who have dreams to come to Nigeria to invest. Most importantly, of course, we want to come to the center of excellence, the city of aquatic splendor, the state with the best governor in the whole of Africa, who is dynamic, who is efficient, who is passionate about providing solutions for his people, Governor Babajide Olusola Sanwo-Olu.
Lagos is not just being the home of Nollywood, afrobeat, and the home of the blue line, the red line that is coming, the home of the Badagry seaport, the home of the Dangote refinery, it is also called the 5th largest economy in Africa, and also the start-up capital of Africa.
This Lagos, our Lagos is the diaspora’s destination for investment, especially in the area of real estate. Now, what are the opportunities for those in the diaspora? Because of the appreciation of real estate in Nigeria, especially in Lagos, we have seen the fastest growing real estate corridor in Africa in Lekki Axis. The appreciation of value here is so great.
They want to come and invest in Nigeria; they want to come and invest in Lagos. But when they come, they usually have some funny, funny experiences. But under the leadership of President Bola Ahmed Tinubu, trust and hope have been renewed. And since Governor Babajide Sanwo-Olu has come into office, they have more confidence now, with leaders in LSDPC, the Lagos Homes, the Lands and Housing. We have people that you can trust.
They trust them because they know them. They know them because they see the good work they are able to produce. Trust is a very, very important thing when it comes to real estate. Before they would give money to their brother, their sisters, their aunties, their uncles, their friends to invest in real estate. And as the popular slogan goes, “Oti lo”. The money develops wings and goes; it flies away. Even their own mother, their own father, their brother and sister between them. We don’t want to see that happen again. That’s why I believe that this idea is timely.
Working with a special adviser on housing and the honourable commissioner, we’ve come up with an idea called the Legos Diaspora Trusted Developers Initiative. And as the name suggests, it is trying to ensure that people can see the government and see people that they can trust. We are going to have a database which is linked to LASRERA’s database of developers that we know where they’re coming from, what standards and guidelines and ethics of professionalism that they adhere to.
When we’re talking about developers. So, I said some architects going into development, builders going into development, agents going into development, people who find money through funny means just go into development. A developer is someone who improves the use of building on land. It takes it from one stage to a better stage either through renovation, alterations, whatever that he would do to improve the use. And that is what we want to see. People who understand the business. So that means you are a developer and you want to attract the diaspora, who by the way remit over 25 billion dollars to the Nigerian economy yearly.
This year is going to be different because of the foreign exchange and the economic crisis globally, but it will constantly deliver over 20 billion dollars into the Nigerian economy. And 20 billion dollars, as some would say, no be small thing o!. It is something very significant. It is the 3rd largest foreign exchange contributor to the Nigerian economy. After oil, after agriculture, you talk about diaspora remittances. And I must say that most of you developers who are here, you know that the diaspora, are the ones buying a lot of your properties. And if you’re not selling or marketing towards the diaspora, then you know you’re missing out on a big opportunity.
Mr. Governor through LSDPC has launched a diasporan desk in LSDPC under the leadership of the honourable MD/CEO, Hon. Ayo. He saw that it is important because many diasporas want to go into JVs, with individuals, with people, but they rather want to go into JVs with the government, the government that you can trust. And trust is a key factor. You can say that, yeah, the risk can go up but with the Lagos Diaspora Development Initiative, all that is mitigated. It is mitigated because we are going to have a rating model that I’ve come up with. The rating model suggests symbols. You are going to be rated either 5-star developer or 1-star developer. God forbid you are a one-star developer.
The model is based on this. T- stands for transparency. Are you clearly communicating and giving digital updates about the said area? Do you have regulatory compliance? Do you adhere to regulations with timely approvals? Do you have an unwavering integrity? Do you employ sustainable practices and are you again for that trust -worthiness factor? The 5-star will be for someone that is exceptionally trusted. 4-star is for someone who is highly trusted. 3-star moderately trusted. 2-star for somewhat trusted. And 1-star least trusted. So, by getting your development company registered with LASRERA and the Ministry of Housing, and going through the Diaspora desk which has also been initiated there. They are proactive, they will rate your agency, they will rate your company and they showcase your potential to the international community of what you are truly made of. And this will lead to competition. It will lead to individuals in the built environment to begin to adhere to the highest possible standards. So this Lagos Diaspora Trust Developers Initiative is something that has come now, and it has come to stay.
I will encourage developers to sign up on the LASRERA’s website, sign up with the Lagosstatediaspora.ng/trusteddevelopers. Whatever information we get there will be passed on to the Ministry of Housing, the LSDPC, Lagos Homes. Everyone is coming together to ensure that the diaspora’s experience in this center of excellence fully is an excellent one. Because Governor Babajide Sanwo-Olu in his THEME’s agenda for a greater Lagos must be achieved. It’s not limited to the beautiful city of Lagos Island, or Ibeju-Lekki or Epe, or Victoria Island, or Badagry, but also the diaspora.
A BRIEF PROFILE
OF MR. JERMAINE SANWO-OLU
Jermaine is a member of the Chartered Institute of Public Relations (MCIPR) and the prestigious John Maxwell Team. He is an international award-winning motivator, musician and management/leadership consultant and the CEO of Diaspora PR & Picture Perfect PR. The Ministry’s Permanent Secretary, Mrs. Abosede Adelaja (middle) and the Senior Special Assistant to the Governor on Diaspora and Foreign Relations, Mr. Jermaine Sanwo-Olu (left) with the delegation from the World Tourism Cities Federation on a courtesy visit to Lagos.
Jermaine is a business consultant with Eunisure and holds a PG Diploma in International Business and Management from Bradford University UK and bags a Masters Degree in Public Relations & Strategic Communications at Europe’s Largest Public Relations University, Leeds Beckket University.
He worked in the human resources department of RMS TNS, a leader in research and development industry in sub-Saharan Africa. He also worked in E-learning unit of the Human Capital Development Department of one of Nigeria’s banks; Skye Bank Plc, now Polaris Bank.
He also has business interests in real estate investments, having obtained a B.Sc Hon degree in Estate Management from University of Lagos.
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