Business
Diamond Estate Property Sales Face Tough Times
The turn out of events in the property market has shown that the sale of high income properties at the Diamond Estate, along the Ada-George/Eliparanwo axis of Port Harcourt is sailing through tough market, as efforts made so far to dispose properties are yet to yield result.
Investigation has revealed that the properties that are developed at the Diamond Estate ranging from three bedroom semi-detached to four and five bedroom detached bungalow were developed for high income earners, and the lowest cost is between N35 million and N40 million.
The reason for towing this part of development plan, The Tide gathered was for the developer, which is, the Diamond Bank estate company limited to be sure of recouping its capital on investment, which could best be assured through development of properties for high income earners who will be able to pay.
Another reason The Tide gathered that informed the focus on high income earners property was developers would not want to tie their resources down on a long mortgage, which is very common among the low income earners that will want a mortgage of between 15 to 20 years.
Giving analysis of the property market trend, the property manager of the PABOD Finance and Investment Company, Mr. Ariobiobara Bestman said that though the high income earner mortgage period is low, while some could pay instantly, but that the demand for such property now is low.
According to the property expert the demand for low cost housing is very high in Port Harcourt because high percentage of the population are paid employees who can not afford such homes, while the few in business already have their homes.
Corlins Walter
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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