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Developer Calls Lagos To Convert Flood Zones Into Revenue
Mrs Lauretta Odusolu, Group Executive Director, Octo 5 Holdings Ltd.
By Grace Alegba
Mrs Lauretta Odusolu, Group Executive Director of Octo5 Holdings Ltd., a real estate and services firm, has urged property developers to partner with the Lagos State Government to convert flood-prone areas into revenue-generating tourism hubs.
Odusolu made the appeal in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos.
She said that while Lagos had huge investment opportunities in its wet zones, poor utilisation had turned many of them into environmental threats.
she cited the challenge of flooding of residential estates along the Lekki axis.
“Government and developers can turn these flood zones into opportunities by creating tourism attractions in such locked-in locations.
“Lagos’ support is very crucial to developers and facility managers like us,” Odusolu said.
She called on the government to intensify public-private partnerships in flood management, waste disposal and community sanitation.
According to her, clogged drains caused largely by indiscriminate dumping of refuse worsen flooding in many estates.
Odusolu commended the state for introducing a N250,000 fine or imprisonment for indiscriminate waste disposal but urged the provision of roadside dustbins to ensure proper waste management.
“Citizens should adopt a more communal attitude, realising that we all have to work together to achieve the best results.
“I was born and bred in Lagos, and I can say government is doing a good job, but a lot of flooding in estates is caused by blocked external drains,” she said.
The estate developer condemned drain stuffing by artisans, construction workers, cart pushers and households that discharge wastewater directly into drainage channels.
She admitted that some older estates still faced challenges but insisted that newer ones built under stricter planning guidelines had largely overcome flooding.
“At Octo5, we battled flooding in older estates like Ocean Bay.
“However, in newer developments such as Heron’s Beak and Congress Park, which were built in line with government regulations, flooding has been eliminated.
“Unfortunately, residents still suffer from floods caused by neighbouring communities’ poor practices,” she explained.
Odusolu also commended the Lagos State Ministry of Environment and Water Resources, alongside other regulatory agencies, for efforts to build a more sustainable urban environment.
Encouraging Nigerians in the diaspora to invest in the country’s housing market, she said the Lekki corridor remained a prime destination.
“Diaspora Nigerians looking to buy homes should not be afraid of investing in Lekki Phase I or Ikate.
“Some developers are doing amazing work, delivering structures that are sound and flood-resilient.
“Our new projects stand above road levels and do not obstruct drain channels,” she added.
Odusolu called for stronger collaboration among government, developers and residents to tackle flooding sustainably while unlocking the economic value of Lagos’ wetlands. (NAN)
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