WHAT INFRASTRUCTURAL DEVELOPMENTS BRING TO A COUNTRY

One of the major issues facing some third world countries is the lack of good infrastructures in place which is one thing that set countries like the United Kingdom, Germany, Japan, United Arab Emirates, United States, Singapore, Rwanda, Egypt, South Africa, Seychelles, and the likes apart. These have an adverse effect on the economy of the country and its citizens. Like the popular best-selling author and speaker, John Maxwell will say, “Everything rises and falls on leadership”. For a country to achieve successful infrastructural developments, it all falls on its leadership and the system in place.

Countries with good road networks often make life easy for people that will need to move from one location to another. In fact, having a good road network in place is one of the major things that attracts people to a location, thereby opening up such areas for both residential and commercial activities. As a result, a new city is formed. Taking Lagos, Nigeria for example, the popular 1004 estate in Victoria Island used to be the last notable residential building in that axis in the ’80s which housed top military personnel and public servants while the place after 1004 estate was a slum which was formally called Maroko back then. The Lekki of today, which was the Maroko community of yesterday, results from the infrastructural developments like road networks that were put in place by the then Lagos State government in the early 2000s.

Thousands of people moved in there, thereby increasing the population of that axis. Businesses were set up, job opportunities were created, and a new city was discovered. The mode of transportation improved as it became easy to navigate and access that location. Along the line, several housing estates were developed, neighbouring communities like Chevron, Ajah, and Sangotedo followed suit. Ikorodu, Lagos benefited from the construction of a good road network as well during the tenure of the former Governor of Lagos State, Babatunde Raji Fashola. Many Nigerians became property owners in that location as it opened up. A good transportation system is another infrastructure that enhances development and the smooth running of the day-to-day activities of citizens. A major problem a country like Nigeria faces today is a poor transportation system. A state like Lagos faces a major problem of road traffic, which makes it possible for residents to spend an average of seven hours in traffic every day. We can link this to excess vehicular movement on the road and the lack of multiple road networks that lead to a particular destination. This results from poor urban and regional planning. People started building before roads were mapped out, which makes Lagos very choked up. The capital city of Nigeria, Abuja shows what Lagos could have been like in terms of having multiple road networks that connect each place if there was proper urban and regional planning from the onset before any sales and allocation of land to individuals and organizations by the government. A state with an excellent transportation system in place will have no reason for its residents to make use of their vehicles regularly. Many advanced countries, like the United Kingdom and the United States, make use of railway transportation for both intrastate and interstate movements. This has made it possible for their citizens to abandon their cars for some and not see a need to own a car for others over the years.

The BRT system in Lagos is commendable as it has made movement easy for those working on the Island but living on the mainland. The waterways is another transport system that is quite functioning to an extent as people that live in Ikorodu but work in Apapa, Victoria Island, Ikoyi, or Lekki mostly use it.

There is a massive investment opportunity that a country with good infrastructural developments in place attracts. Both foreign and local investors put in their money in a nation with good infrastructures in place, which has a positive impact on the economy of the nation. Its effect on real estate investment opportunities cannot be overlooked as such developments skyrocket the value of landed properties in any location. Eko Atlantic city in Lagos is a massive investment that is a result of thought leaders and visionaries who have put a quality infrastructure in place, attracting both foreign and local investors into the city. A few days ago, the U.S government released an official statement that announces the design-build award for the U.S Consulate in Eko Atlantic City, Lagos. This is 12.2 acres of land that will be used for this purpose. (Click here?to read the official statement). This is great news for Nigeria.

The Lekki-Epe expressway from Eleko junction down to Epe town is another rigorous road construction that is currently going on. These are key infrastructures that give room for both business and real estate investment opportunities.?A few years from now, a mega-city will be formed, which is in line with the Lagos state plan to build a smart city in Lagos. All these have economic importance on nation-building and provide ease of doing business for investors, which makes life easier and better for citizens.

?Sidenote:?Lagos, Nigeria, is too promising and it will be risky for you not to own a real estate investment in a state like Lagos.

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