How Alausa Will Affect Real Estate in 2022

The sad event of Nov. 1, 2021, of the collapse high-rise building under construction at 44BCD Gerrard Road in Ikoyi, Lagos, known as the 360 Degrees Towers would continue to generate conversations among policymakers and stakeholders in the building and construction industry. The building which collapsed killed 45 people, most especially construction workers on-site, including the owner, Mr. Femi Osibona, while 15 persons were rescued alive.

In a swift reaction, Lagos state governor, Mr. Babajide Sanwo-Olu who visited the site inaugurated a tribunal to probe the circumstances surrounding the collapsed building and gave it 30days deadline to submit the report of its investigation. He also ordered the indefinite suspension of the General Manager of the Lagos State Building Control Agency, Mr. Gbolahan Oki.

Mr. Toyin Ayinde, President of Nigeria Institute of Town Planners (NITP), was the chairman of the panel, while Ekundayo Onajobi, a lawyer, was the Secretary.

The 5-man panel, however, had submitted its reports to the governor who then announced the constitution of a 4-man committee led by the Commissioner for Special Duties, Mr Tayo Bamgbose-Martins, to look into the findings of the panel as the first step towards the implementation of the recommendations.

While we await the 4-man committee’s implementation of the recommendations, one thing we can categorically say is that getting approval for building in high profile areas in Lagos will no more be business as usual. Those close to the findings say that the processes in the approval and oversight stages were not done or improperly done and that this was a disaster that could easily have been avoided. We expect to see a very tough attitude from the relevant officials and it is possible that approvals will be delayed and work in some ongoing construction sites delayed or stopped all together.

“This is an event that could be described clearly as a national disaster. Mistakes were made from all angles and I am using this opportunity to express my disappointment about some government officials that are sabotaging our efforts. I will not only be ruthless but also look for you and ensure that you have no place in my government. This is an agency that must work for everyone.”

Gov. Babajide Sanwo-Olu