NRC transforms abandoned property into commercial complex, completes police station in Apapa

NRC transforms abandoned property into commercial complex, completes police station in Apapa

The Nigerian Railway Corporation (NRC) has inaugurated a commercial complex in Apapa, Lagos, as it resolves to be a major player in the nation’s flourishing property market.
The project along with the construction of a police station at Bola Ahmed Tinubu Train Station was undertaken by the NRC’s subsidiary, the Nigerian Railway Property Management Services Limited (NRPMSL).
Managing Director of the corporation, Fidet Okhiria, said during the opening of the two facilities on Thursday in Lagos that the NRPMSL would bridge the nation’s housing stock and boost its Internally Generated Revenue.
Okhiria also doubles as chairman of the railway property company, which manages the corporation’s landed property across the country.
The managing director explained that the NRPMSL is now positioned to be a big player in the property business.
He said the subsidiary veered into building and managing developed properties to generate revenue for the smooth operation of the corporation.
“We came to the realisation that if we continue to lease out our lands for long tenors, there would come a time that we would have no land to lease and no revenue would be earned as all those lands would have been leased.
“So, we decided to change strategy and play in the property business by building to own, and let fully developed properties on which we could continue to earn revenue,” Okhiria said.
Managing Director of the NRPMSL,
Timothy Zalanga, said the railway property spot at the Marine Beach in Apapa, which was turned into a mixed-use property, used to be NRC’s staff quarters which fell into rot and gutted by fire two years ago.
He said, “Realising that the place is now being surrounded by a market, we saw that the best would be to maximise the use of the land by coming up with a commercial property that comprises a two-storey building of 48 lock-up shops on the first two floors and seven one-bedroom flats en suite with toilets and kitchenette.”
He noted that the commercial property would not only add to urban renewal initiative of the Lagos State government but also to the housing stock in the Apapa axis, where shops are in high demand.
Chairman/Managing Director of Lane Limited, Alhaji Muritala Sani, said the project was executed with over N400m. He stressed that it would bring relief to a lot of business owners who would want to have their places around Apapa from where they could conduct their businesses.
Inaugurating the two buildings, the Director of Railway Services in the Federal Ministry of Transportation, Dr. Finbarr Zirra, commended Okhiria for the milestones achieved by corporation under his leadership.
He said the giant strides attained under Okhiria had repositioned the corporations for greater heights.
The corporation also inaugurated a police station built at the Bola Ahmed Tinubu Train Station in Apapa.

It said it was in fulfilment of a promise by former Transportation Minister Rotimi Amaechi to support train services at Apapa with a modern security system.
The new police station has two guard rooms, armoury and spacious offices – all with en suite toilet facilities.