 It is evident in love that ShellTel remains the second basic necessity of human needs after food. And as such, many individuals act desperately to have their own personal dwelling. Therefore, the need to erect solid and functional buildings to avoid unexpected collapse is very essential. Building collapse or call as a result of factors such as poor workmanship, bad design, use of substandard building materials, foundation failure, faulty construction, extraordinary loads, among other factors. The recent case of the collapse in the ShellTel is a reference point. On the show today, we will turn our gaze on the real estate sector vis-à-vis given useful insights as to what you need to know as we get construction planning to avert tragedies. Welcome to Business Insight and Plus TV Africa. I am Justin Acadone. Welcome back. Now, the federal government approved contracts to beef up operations at some airports, POS transactions, as well as the NNPC report and subsidy payments, among others made headlines this week. Here is the roundup. The federal executive council, FEC, has approved three contracts to beef up operations at the Murtala-Mohamed International Airport, Lagos, and in Nnamdi-Ezikawa International Airport, Abuja. The Minister of Aviation, Hadi Sariqa, briefs statehouse correspondents after a virtual FEC meeting presided over by Vice President Yamio Shibanjo on Wednesday at the Presidential of Ila Abuja. Sariqa said the second memo from aviation was the approval for the award of contract for the manufacturer's supply, installation, and a pre-tint training of disabled aircraft recovery system at Nnamdi-Ezikawa International Airport, Abuja. Rate of sale transaction in Nigeria dropped marginally by 0.74% to 552.26 billion in October 2001, compared to 556.36 billion recorded in the previous month. This is according to recent data released by the Nigerian Interbank Settlement System. The value of POS transaction dropped despite a 33.6% increase in the volume of transaction to 91.39 million from 81.71 million recorded in September 2001. For the analysis of the data showed that the number of POS terminal deployed in October rose by 7.6% month on month on to 764,589 in the review month. The Nigerian National Petroleum Corporation spent a total of $864.70 billion between January and September, subsidizing petroleum motor spirit, popularly known as petrol. The amount represents 31% of the total revenue of $2.7 trillion generated by the cooperation between January and September. Nigeria's external reserve rose by $5.05 billion in October. The latest data from the central bank of Nigeria showed on Wednesday the reserve increased from $36.78 billion on September 30 to $41.83 billion as of October 29. The deputy governor, financial systems stability director, CBN Aisha Ahmed, at the latest monetary policy committee meeting in Abuja said the external sector trends improve as reflected in the balance of trade position, which narrowed by 52.56% to a deficit of 1.87 trillion in the second quarter of 2021, from 3.94 trillion in the first quarter. The central bank of Nigeria has listed its selection criteria for the newly introduced financial instrument tagged the 100 for 100 PPP, policy on production and productivity. The apex bank made this known in a notice signed by its development finance department. It explained the selection for participating businesses would be based on the immediate impact the business has on economic growth, job creation and social impact. And those were the roundup of business needs for this week. Living collapse is becoming a serious problem in Nigeria in general and Lagos in particular as it has a lot of effect on the economy, especially the development industry. Many investments do they have failed due to their ways of developing property and thus allay to the ways of many lives and properties worth millions or billions of Naira. Simon Adosi, managing director of Adosi-Leon's Homes and Realty, joins us on the show to give some useful insight on why you need to get the right plan before construction. Good evening to you Simon, many thanks for joining us on Business Insight and Class TV after that. Oh, thank you for having me and good evening everyone, good evening everybody, good evening Nigeria. All right, good evening to you again. So Simon, let's talk about the need to have a construction plan because a lot of Nigerians have been talking right now as regards to the building collapse which just occurred in Lagos on November the first time that millions of Naira have been lost and of course, lives of course, you know, have been lost. But specifically, why do we need to have a construction plan before we even start a building? It's just like asking why do you need to have a plan without doing anything? You need to have a plan, you need, planning makes you see the end, planning makes you, you need to have a thought through over every process. So building is a very sensitive thing and it requires that you put in a lot of safety measures, you put in a lot of thoughts into it and you put in a lot of regulations into it before you go out because lives are totally dependent on it. So you need to have a plan because it is, it must, if I will use that word, it must. Having a building plan is non-negotiable. All right, Simon, let's talk more about a building plan. For instance, I am just an individual but I want to build, I want to own a property and I want to use it for business and what exactly do I need to know precisely? So I don't end up putting money into that particular investment at the end of the day or not have issues of building collapse. What are the step by step approach I need to follow in order to have this building on ground then to as much level as I've been approved for? So we go from there. You want to have a building, you must have an architectural plan. From the architectural plan, that's where you know what you want, how many bedrooms you want, what you want, how many levels, how many floors you want to go. That's when you know what the size of land can actually carry. So from the architectural drawing, you have what we call structural drawing to know the kind of weights that the structure can carry in terms of those people building high-rise or something more than two or three floors. And you need a structural drawing, you need what we call mechanical electrical just for safety measures to know where your plumbing pipes are going to be situated so that it will not cause hazards, to know where your electrical wiring and all that so that you will not get a mixture of water pipes and electricity all in one. So I mean it could cause electrocution and all that. So you need a basic plan. So you need an MIE plan, mechanical and electrical plan. You need an architectural plan and you need a structural plan. Now when you have all these things, you take it for approver, approver from the government agency. Am I allowed to build such this kind of structure in this kind of place? So that is where you get the approver that you actually need. That's where they tell you that this is a regulation covering this particular area. So when you find that out, you will now know that, okay, I have permission to build. Now they will give you an approver to say, okay, because they will ask you to bring your architectural drawing, your structural drawing. They have experts that will look into it and say, okay, it's okay, you are good to go. So you as an individual that wants to build, you must go through these things. An architectural drawing, a structural drawing, a mechanical drawing, an electrical drawing. So these are the most important things. So some people, yeah, if you want to build, you must know. So the structure will determine the kind of foundation you need to have. I understand all of that now. Yes. Or a rough foundation. Okay, fine. You've mentioned a lot of, you know, expertise that come into place when you talk about the business of construction or constructing houses or offices or what as the case may be. But you are a realtor and you actually are involved in developing buildings and of course houses and order, you know, infrastructure in Lagos. But specifically, would you say that the average Nigerian actually takes the pain of going through all of this process? You talked about the M&E design, talked about them having an architect. What really plays out here in Nigeria? Okay, what really plays out is that people see a house. They like the facade. They like the exterior. They go inside. They are wowed by the interior. They just bring out their checks and they pay. One thing that makes us unique. One thing that makes me exceptional from the others is that I would at least show you in cities that we see the building plan approver. We see the drawings. We see both the structure and the mechanical drawing. Then if and it must be stamped and sealed by a recognized structural engineer or an architect, it must be. The architect must be a member of, okay. The architect must be a member of the, we call them ACOM, the architectural union of Nigeria, I think so. He must be a member because you must see their stamp on it. Those are the things that I look out for when I'm doing my own development. I am currently doing one and I put all these things into place. The presence of a safety man on your site is so important but people overlook it because that's the person that will tell you that these are things that you need to put into consideration before getting this building to go where it is. Building collapse can be avoided just like every other accident can be avoided if we follow and do the right thing. Indeed, if Nigerians followed and did the right things, I would not have incidents of a building collapse. Like we have almost all the time across Lagos and other cities here in Nigeria. But let's still talk for one minute concerning that particular building that collapsed in the Iqoyi area of Lagos. You know, lives indeed have been lost and of course that property was actually massive. I'm sure that's actually run into millions of naira. But in your opinion now, what have the developers failed to see in that regard? My condolences to the families that were lost and everybody that have one or two loved ones in that building. It is a disaster and we are all mourning in Lagos because I think from the last count almost 50 people or dead bodies already pulled out. It's quite tragic and we commiserate with all the families. But the right thing needs to be done. Most times I would say it's the negligence of humans that makes accidents like this happen. So accidents don't just happen. There must have been signs. It must have given you a whole lot of signs. If the building is not well structurally you must have seen some cracks on the walls, some little things here or there. But you know what, if you would not pay attention to those little things which I think that is the case that happened there, this kind of large grief is what we put the nation and the space into. So it could have been avoided. Like I said, accidents can be avoided. So in the case of the Koi incident, we hear that they actually got approval. Even if you get approval, it's still worse than on the humans on the site to do the right thing. For crying out loud, if you were supposed to use a load bearing block which is a mixture of cement and stone dust to build a high rise, don't use a mixture of cement and sand block. That alone, you might want to cost cost, but that alone is already putting the lives of a whole lot of people in danger. So if we can just do the right thing, accidents, this kind of building collapse are exceptionally avoidable. Yes, we can avoid it. Now, government has given approvals, they come, they see for themselves. But when they are not there, what do the people on site do? When the government is not there, do they use the right regulatory? You know, people take some materials for testing. They just use a few of them and they flood the whole place with fake materials and all that. So this is not the time to blame anybody. This is not the time to throw the blame game. This is the time for us to actually search our conscience. And this is the time to ask the question, do we have the particular labour force to even deliver the housing deficit in Nigeria? A lot of quacks are out there calling themselves preclares. And when they don't do their job properly, they put everybody into jeopardy. You know, you cannot just say, I want to enter into construction because I'm hungry. No, it's a professional thing because life of people would depend on it. So there are a lot of things I would look into. Right, yes. A lot of things indeed we need to look into. But Simon, as we begin to wrap up now this particular discourse, now you talked about the need to eradicate rather the issue of in the industry and of course having professionals. You are into the development of buildings and of course you are a realtor. How would you say sanity can be ensured in this particular industry so that would have buildings that can stand across both, when you measure them with those that we have internationally and of course even if we want to go and get as much high rise buildings that we want in Nigeria, we can actually beat our chest that these buildings would stand in the next 50 to 100 years. Quickly, as we round out. So because I have worked with a lot of artisans, I would always advocate for a technical school. You know, bricklayers can go to school, carpenters can go to school. If I want to hire anyone, I want to be sure that that person have gone through a former, an informal training that is backed by the government. You understand? That's what gives me assurance of their professionalism. Now, in lots of things, people just, you know, see, it's a human thing. It's not real. The government regulatory body, they are doing their job. They are exceptional in what they do. I have an encounter with them yesterday and they were all around going through sites, making sure that standards are being followed and procedures are being observed. But the little can they do when the people that are in charge of those projects are determined to do what they want to do. So most times, training artisans is very, very important. Can we just open a technical school for people that build in high rises? So anybody that goes through that system, you know that you can be sure of the quality of work that that person will put out. All right. Thank you so much indeed. You have actually spoken the minds of professionals in the sector and that if we actually did all of those things that you have said, the issues of building collapse in Nigeria would actually be reduced to the barest minimum. Many things, once again, Simon, is the managing director at those zillion homes and Realtion. He joined us on the show today to look at real estate getting the right plan before construction. We do appreciate your time. Thank you so much for having me. Thank you so much, Simon. As we wrap up, we'll leave you with reactions from Nigerians on the recently launched digital currency, the E-Naira. That's the size of the show for this week. Hi, I'm Justin Akadengie. Let's do it again next time. Many thanks for watching. I read somewhere that Nigeria E-Naira is the second largest after that of China. And China also put a place, a ban on cryptocurrency. So I believe we are following the path of China. And China has been our major, where we do our major imports. Probably following their own path may give credence and value to our E-Naira. E-Naira has got to stay now. E-Naira has come to say, I believe E-Naira, because we must start from somewhere. But it's only that Nigeria, I believe that digitally we are not competent yet. That is why me. I don't believe in other cities, E-Naira and others. But we must start from somewhere. Yes, E-Naira has come to say we must start from somewhere. It's a good development for Nigeria. It's a good development. It has come to say we must start from somewhere. I see nothing wrong in it. But as a matter of fact, it doesn't have any value to Nigeria. It doesn't have any serious value. The economy is down. The E-Naira is the value. What is the value of E-Naira? Except to create a room for more loot. Because you now have time to keep and hide your money in a place where you cannot easily be discovered. That is the truth. So you actually give the politicians the opportunity to keep their money away from scrutiny. Because when the money is saved in blockchain, you cannot raise it. So that is just the truth. So the government itself is not sincere. So the politician wants to loot. That is why... So you have nothing to do with the masses. It does not benefit us. It does not put food in E-Naira pocket. It does not have any effect in Nigeria's economy. As a matter of fact, you only favour the politicians. I say that I believe in E-Naira. Let's see how it's going to go. I believe... Normally, there is no policy that I shall work in Nigeria. But let's see how they are going to implement it. Whether it will be stretching our E-Naira or it will not. But the past six years, the government has shown nothing but failure on its part. So today, show me how they tend to make the people's lives much more comfortable. I will take them serious. But to me, I am sort of confused because this is the same president or this is the same government that banned cryptocurrency. And you are coming out to tell us you have an initiative of E-Naira. I mean, that will tell you that there is something wrong with it. Because number one, I was trying to erode on the E-Naira and they asked me for BVN. I mean, it's crazy. I mean, why would you ask me of my BVN? We have other cryptocurrency platform where you can run your transactions without so many details and all that. So coming out with E-Naira something and you abandon the cryptocurrency, I mean, that should be... That is telling us that something, the government or something, the president or something, they are not telling us. So to me, I don't buy the E-Naira stuff. I don't buy it. So if you are calling off the cryptocurrency, call it off totally and stop with it bringing up. I mean, that's it.