The Managing Director of the Nigerian National Petroleum Corporation (NNPC) Properties Ltd, Mr. Danny Sokari-George, has said that the company is determined to deliver quality and affordable houses with the best funding options for staff of the corporation.
Sokari-George, who disclosed this recently at the maiden edition of NNPC Properties Ltd (NPL), Festival in Abuja, however, cautioned the staff against frivolous spending in order to acquire house with ease.
He also pledged his commitment to turning the NPL into a revenue generating Strategic Business Unit (SBU) of the NNPC.
Also speaking, the NNPC Chief Operating Officer (COO) Ventures, Babatunde Adeniran, disclosed that plans are underway by the corporation to invest its over N100 billion worth of unharnessed landed property across the country in the real estate sector.
According to him, the feasibility of the plan would largely rely on the ability of the group to recover the assets across the country.
He added that it would also be a major shift from its initial lease administration of collecting rents from tenants occupying its property.
Adeniran said that the plan would be honed through commercial opportunities, adding that the company has already commenced the recovery of the corporation’s landed properties.
According to him, NNPC Properties Ltd had shifted from the initial lease administration of collecting rents from tenants of the NNPC Properties to “exploring all commercial opportunities available in the real estate market to efficiently position itself as one of the key players of repute that fits the NNPC brand”.
He added: “the current aggressive commercial drive by the NPL is yielding results as the company had recovered a number of the corporation’s landed property which had been lying idle across the country.
Adeniran listed some of the recovered property to include: a 92-hectre parcel of land on Chevron Drive, Lekki, Lagos; Royal Grove Estate, Port-Harcourt, and others in Abuja and Kaduna.
He lauded the subsidiary for developing the Third Party Home Ownership Scheme for staff with competitive interest rates from reliable banks and affordable deals from credible developers.