A self acclaimed financial planner and an author, Kalu Aja, has taking the Ogun state government to school, handling over a ten years development blueprint.
Posting on his twitter page, the author of “let’s talk about your money” advised the Ogun State government to “build 100,000 homes in 10 years in one LGA near Lagos, and build stuff around it, markets, schools, hospitals, and malls.”
On transportation he suggested “Build 5 lane expressway to link to the Lagos toll gate, and add rail.”
The financial planner conclusive knocked the government saying that it’s inability to develop the state is not lack of money but for “lack of vision”
His tweet partly reads “Set up mortgage bank, sell to Lagos residents, sit back and collect PAYE.”
“Who will fund it?
The Lagosians buying the homes. Just allocate the land and advertise with Deed from State; you sell 5,000 in one hour.”
“Take that commitment, securitize it, and offload it to PFAs. Get Chinese builders, and they will build it.
“LG will set up a small factory to supply ACs, Fans, Cookers, Microwaves etc for 200,000 flats.
“Dangote, WAPCO will move there, Same for Steel coy, glass coy, electrical wire, Internet, Lifts, water systems, Insurance etc.
“Imagine the farmers supplying food to workers.
“Auction the services, banks to pay to open branches on bank row, same for mechanics, bars, and shops. Think how many schools will be there.
“All these workers, transacting, spending. Ogun collecting VAT and PAYE
“This is just phase One; Ogun can copy what Ethiopia is doing and build industrial parks.
“Well-planned, wide, green spacious manufacturing clusters
“Lagos is the USA; Ogun State has to see itself as Mexico, not Canada.
“Take advantage of cheaper land, labour and even food. Similarly, for Imo and Rivers, Kogi and Niger to Abuja
“All the pictures* are from Angola KK New City, China built it. 8.8sq km, with 710 apartment buildings, about 34,000 apartments, cost? $3.6b.
“Thats about N1.8t. for context, Nigeria has spent nearly N3t already importing PMS in 2022 (*except Ethiopian industrial park)
“it is not a lack of money; it’s a lack of vision”