In a move aimed at bridging the nation’s increasing housing deficit, Pelican Valley Nigeria Limited and Canadian developers are working on a mutually beneficial collaboration to attract a business-friendly single-digit interest credit facility for real estate financing in Nigeria.

In a statement, Pelican Valley disclosed that the move was one of the outcomes of the Nigeria-Canada Trade Mission held in Ontario, Canada.

It stated that the collaboration will foster expansion in the real estate business, promote artisanal manpower export to Canada, encourage non-oil foreign investment and FX remittance as well as engender the building of technology-driven and energy-efficient smart homes among other expected benefits for the countries.

The Chief Executive Officer of Pelican Valley Nigeria Limited, Babatunde Adeyemo, said it was time to expand by extending a hand of collaboration with other operators and investors abroad in a mutually beneficial way.

According to him, Pelican Valley was looking for tested investors, partners, and foreign low single-digit interest funding as it needs to grow and leverage the firm’s capacity, huge goodwill, quality projects already done, and adequate space for expansion, assuring that partners in the collaboration will not be disappointed.

He said, “We will always urge our governments and leaders to reciprocate this gesture.

If things are done the way they are supposed to be, we will not need foreign financing to grow our economy. This is all about creating an enabling environment for an average Nigerian youth to grow.

“It is all about looking forward to getting non-oil foreign exchange remittance into Nigeria to help our economy to reduce this killing inflation that is about to take away our future.”

Meanwhile, the Chairman of the Nigerian/Canadian Business Network, Wale Adesanya,  said the collaboration would explore the networks’ of over 600 membership strength both in Nigeria and Canada to forge a synergy between Nigeria and Canada and work in partnership with Nigeria in the diaspora commission headed by the Chairman, Abike Dabiri-Erewa, to achieve results.

He explained that it was important for Nigerians, especially business people and entrepreneurs to come together and do something to grow Nigeria’s economy for the benefit of the country and its citizens.

In his presentation, a developer, Olukunle Ibitoye, identified various opportunities for Nigeria and Canada to mutually benefit from the collaboration on how Nigerians can use direct investment into Canada to secure Permanent Residency.

“Back in Canada, you get about a 4 per cent interest rate. With that two things happen. It is easy for us to pay the interest on those loans, do our development, and then we can cascade those savings to home buyers and it is easy for people to own homes in Canada. That should also be available in Nigeria.

“Many of the financing firms in Canada have a lot of money, and they are asking if there are opportunities in Nigeria so that they can lend money to Nigerian firms and help them develop. Of course, not for free, because they are business people but the thing is, they have the perception that Nigeria is a risky place and they need people like us to tell them that Nigeria is not risky.

“They also need to know if there are trustworthy people or developers in Nigeria that they can partner with and give money to. When I go back, I can tell them that I have seen for myself and I have seen the projects,” he submitted. 

In July, The Managing Director and Chief Executive Officer of Pelican Valley Nigeria Limited, Babatunde Adeyemo, had saluted a former Governor of Ogun State, Olusegun Osoba for his hard work and success.

Adeyemo hailed Osoba, describing him as a journalism role model, politician and revered elder statesman who has continued to use his immeasurable wealth of experience to provide “an iconic, commendable,enduring leadership and mentorship roles in journalism, politics, tradition and other endeavours across generations and the globe.”

 He recalled with relish that he is benefiting immensely from the octogenarian’s exemplary leadership and enduring rural development strides, even as he wished him more blessing of long life, good health and peace of mind.

Adeyemo stated, “By the grace of God, in the next two months, we will be expecting  our revered elder statesman, Aremo Olusegun Osoba to commission the first 10 sets of ecostay apartments in our Estate,,where the longest avenue in the Estate will also be named after the veteran Broadcaster and elder statesman for his evergreen contribution to the rural electrification project in Kobape during his reign as the Governor of Ogun State.

“ This is one of the reasons why we are particularly felicitating former Governor of Ogun State, Aremo Olusegun Osoba on his 85th birthday because our estate is a beneficiary of his rural electrification project.

He added, “Your handiwork is with us here, without you dragging the 35KVA electricity line from the main road to where we are, we would not have been privileged to have this estate here. Baba Aremo Osoba created an opportunity about 25 years ago and one Dr. Babatunde Adeyemo is taking full advantage of that opportunity today,,that is governance at its peak. “

 “So, on this occasion of your birthday, it’s is an opportunity for us at Pelican Valley to thank God for your live and living. As someone who have benefited from your exemplary positive impacts and rural development initiative, we join others in wishing you continuous years in good health, vitality and prosperity. Thank you for your enduring rural development initiative when you presided over the affairs of the state as as the Executive Governor of Ogun State. Many happy returns of the day, more long life and good health sir.”