The Nation
Most Igbo businessmen are not investing in the Southeast because doing business there is more difficult than any other region, the Managing Director of FIT Consult Limited, operators of HELIU Residences, Chief Loretta Aniagolu has stated.
Aniagolu was addressing a team of architects from the Enugu State chapter of Nigerian Institute of Architects as well as student architects from various tertiary institutions in Enugu
on an education tour of HELIU Estate, located along the Enugu-Port-Harcourt Expressway in Enugu.
She said investing in such businesses as real estates and large scale industries, attracts lots of frustrating hiccups.
According to her, a combination of state governments’ insensitive financial charges and communal constant disturbances discourage such investors.
Aniagolu however admitted that Enugu State and Southeast has highest return on investments with the highest rate appreciation rate of property in the entire country.
She said: “Nobody knows why it’s like that, but I think it has to do with the sentiments of the Igbos in owning property in Enugu.
“So you find out that the minimium appreciation rate of property in Enugu is 100 per cent annually.
“For instance, these bungalows – when we built them , we sold them for N8.5m for three bedrooms. But today, people are selling them N20m. I can’t even believe it but that’s the reality and it’s shocking…
