Lagos State Governor, Babajide Sanwo-Olu on Friday commissioned the Afriland Towers at Broad street in Lagos owned by Heirs Holding Group and the United Bank for Africa family.
Formerly known as Raymond House, the building was redesigned and restructured and renovated by Afriland Properties, the real estate arm of the Heirs Holdings Group owned Mr. Tony Elumelu.
Speaking at the brief commissioning ceremony, Sanwo-Olu said the redesigning and rechristening of the building which is in the very heart of the Lagos Island Business District is part of the regeneration program of the Island central business district started by the administration of Asiwaju Bola Tinubu in the early 2000.
“Many of you here are witnesses to the tragic decline of Lagos Island, in the 1980s and 1990s; necessitating the launch of a regeneration programme in the early 2000s, by the administration of His Excellency Governor Bola Ahmed Tinubu.
“Successive governments, I am pleased to note, have since followed up on and continued the implementation of that initiative. So, I must say that I am the lucky beneficiary of a solid legacy, and I remain fully committed to the implementation of the Central Business District (CBD) Masterplan.
“We have since seen a heart-warming reversal in the fortunes of Lagos Island. From the revitalisation of City Hall, Campos Square, Tinubu Square, to the development of Freedom Park, to name a few, the last two decades have brought back a lot of the lost glory of the Island.”
The governor told Afriland properties that it has written its name in gold with “this contribution to the revival narrative of Lagos Island, through the investment in this magnificent structure”.
“Broad Street, where this building is located, is the very heart of the Lagos Island Business District; our very own Wall Street. In its heyday it was the epicentre of Nigeria’s financial system. Even today it continues to house important financial industry landmarks like the Stock Exchange and the headquarters of several leading institutions, including that of the United Bank for Africa (UBA) Plc.
“I would like to specially thank Afriland Properties and Heirs Holding, for this extensive renovation effort; a fitting tribute to an important landmark. You have no doubt invested a lot of resources into this, in the process creating jobs, and benefiting the local economy in multiple ways.
“Every project of this nature requires large amounts of skilled and unskilled labour; construction workers from different fields. The money you have spent has gone into the Lagos economy, and touched countless lives.
“And very importantly, this investment is a vote of confidence in the present and future potential of Lagos Island. You have sent a strong message to other investors and players in the economy, that Lagos Island, and Lagos by extension, is worth investing in. You have helped contribute to an improved image for this Central Business District and for Lagos Island as a whole.
“The high quality of the work done is exactly what we have come to associate with Afriland Properties. I am told that this renovation has been done with great consideration for the environment. We have here before us a unique mix of old and new elements: 21st century design thinking brought to bear on a property immersed in history”, he said.
“Raymond House is among a class of iconic buildings that have adorned the skyline of Lagos Island and defined its character for many decades, in some cases, centuries. Names like Godstone House, Caxton House, Wilberforce House, Manchester House, and others, come to mind.
“Many of them are sadly no longer standing today, Raymond House, which will henceforth be known as “Afriland Towers” has stood on this site since the 18th century, and has been a first-hand witness of the evolution of Lagos through various ages and periods. If buildings could speak, it would tell us countless interesting stories about this great city of ours”.
According to Sanwo-Olu, what Afriland properties has been achieved with the renovation is a demonstration of what is possible when the private sector is both ambitious and supportive. Adding that as a government, we look forward to even more significant development interventions from you in the years ahead.
“I would also like to urge other private sector players to emulate this laudable investment. Lagos State under my watch will continue to remain committed to partnering with and supporting the private sector to deliver on our vision of creating a Greater Lagos; a Lagos that works for all of us, and not just a few”, Sanwo-Olu said.