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Ikoyi Building Collapse: Here’s Everything You Need To Know

Ikoyi building collapse

On 1 November 2021, Nigerians witnessed a terrible occurrence as a 21-storey high-rise building under construction in Ikoyi, Lagos collapsed at about 2:25 pm with scores of people under it, including the developer, Mr Femi Osibona. The collapsed block of luxury flats was located on Gerard Road, Ikoyi and so far, at least 36 people have been confirmed dead, among whom is Mr Osibona. Rescue efforts and investigations are still ongoing.

Here’s What We Know

Since the Ikoyi building collapse, there have been investigations and inquiries as to what actually transpired and why the building collapsed. The 21-storey luxury residential high-rise tower was one of the properties of Fourscore Homes Limited, a real estate company based in Nigeria owned by the now-late Mr Femi Osibona. This particular building is one of a trio of highrise buildings – referred to as 360 Degrees Towers – constructed by the company at no. 20 Gerard Road Ikoyi, Lagos.

Ongoing investigations have revealed that there have been incidents that had occurred in the past which served as warning signs to the events that are actually unfolding today. Simply put, the Ikoyi building collapse could most like have been prevented.

In February 2020, the original consultancy firm which had supervised the construction of the other two high-rise buildings on the site – Prowess Engineering Limited – withdrew from the project and put out a statement where they voiced their reservations over the work done on the now-collapsed building. While they vouched for the integrity of the other two structures, the letter claimed they could only vouch for the third building up to the 4th floor and as such, they were pulling out from the entire project.

Also, the Lagos State Government had made moves to seal the site in July 2020, as it was reported that the developers of the 360 Degrees Towers had defied the government orders and were erecting a 21-storey building instead of a 15-storey which was approved for the site.

At the time, the State Government took the action to seal the project site and even arrested Mr Osibona (as was seen in viral video clips making the rounds) in order to prevent another building collapse as the state has had a handful in recent times. However, he was released and the building project continued.

A source said at the time:

“It is unheard of that the owners of the Ikoyi project in question would embark on such a capital intensive project without obtaining required approvals for a project as massive as that. Gone are the days of negligence on the part of the Government when people flout the law. Sealing up the project is law taking its due course.

Ikoyi building collapse

“The owners of this project have shown themselves to be defiant and obstinate, in that the State Ministry of Land and Physical Planning had been calling on them (to) without paying attention to what the Ministry had been calling their attention to.

“It does not benefit the state to stop economically viable projects like the project on Gerrard Road in Ikoyi, but the responsibility falls on the government that all rules and regulations guiding such buildings are strictly adhered to. What the government has done is to halt further construction with a view to assessing and evaluating the extent to which the builders had adhered to the building code. The state will take it up from there.

“The government will not fold its arm and watch people behave recklessly without order and accountability. We are talking about people’s lives here. The state will no longer tolerate such attitude from anybody no matter how highly placed they may be.”

Eyewitness Reports

Gabriel Bassey is one of the site workers who narrowly survived the Ikoyi building collapse and he told our reporter that he is lucky to have escaped being trapped under the rubbles.

“This project, 360 Degree, was built by Fourscore Homes Limited. I was trying to plug my phone and not up to five seconds that I left the spot, I saw the building coming down and I ran to safety. We have a lot of people trapped in the rubble, who we need to bring out.

“When the incident happened, we brought out six dead bodies and we still have like 30 Togolese and Nigerian bricklayers and four engineers and other workers. My boss, Mr Femi, is still trapped in the building. He was on the 18th floor with some of his clients, who wanted to buy the building when the incident happened.”

Another eyewitness, Blessing Feyijimi, decried the fact that the first responders were not properly equipped for the job they came to do. In her opinion, if they had the right equipment, more persons would have been rescued.

“When the incident happened around 1.36 pm, we started rescuing people but the security men locked the gate and didn’t allow people to enter. We protested and forced our way in. We recovered four dead bodies on the last floor and rescued four injured persons, but some people are still trapped in the rubble.”

Rescue Efforts and Ongoing Investigations

At the time of the Ikoyi building collapse on Monday, November 1, 2021, about 50 persons were said to be in the building, including engineers, labourers, prospective clients, and of course, Mr Femi Osibona himself. As of today, November 6, about 36 persons have been confirmed dead while about eight persons were rescued and are recuperating at the Lagos State General Hospital from the various degrees of injuries.

Ikoyi building collapse

Rescue efforts are still ongoing and the operation is led by the Lagos State National Emergency Management Agency (NEMA) alongside other responders. NEMA has the military has been called upon and would soon take over the rescue operations.

The Lagos State government has since launched an investigation into the Ikoyi building collapse and has suspended the chief architect of the state, Mr Taiwo Aiyepe, pending further investigations. Furthermore,  an independent panel has been charged with the task of conducting an investigation with a result expected in the next 30 days.

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Entertainment

Kunle Remi Blasts Government on economic hardship, asks Nigerians to hold government accountable

Nollywood actor Kunle Remi has joined growing public frustration over the rising cost of petrol, using his platform to call for more open conversations about the country’s current economic strain

The actor pushed back against the idea that public figures should stay silent on political or economic issues. “Usually I say things like I don’t really get involved with politics… No, that’s the most stupid statement from anyone in Nigeria right now,” he said. “We should be discussing, we should be talking about it, we should be trying to fix… There’s nothing like sitting on the fence.”

Remi linked his concerns to the direct impact of fuel prices on everyday life, pointing to the ripple effect across businesses and households. “Today I bought petrol for 1,300-something naira,” he said, noting that everything from shopping malls to small barber shops depends heavily on petrol to operate. “I have a child, so I’m thinking not just for myself.”

He also questioned Nigeria’s sensitivity to global oil market shifts, particularly ongoing tensions in the Middle East. “I don’t understand why Nigeria is one of the first countries to be affected by the war in Iran. My spirit is very angry. All the things I’ve been working for is for what?” he said.

His comments come amid sustained pressure on petrol prices across Nigeria. Despite the start of domestic refining operations, including the Dangote Refinery, pump prices have continued to reflect global market volatility. Industry stakeholders have pointed to international crude oil price movements and geopolitical tensions as key factors limiting any immediate relief.

Recent market data shows that a nearly 20 per cent increase in petrol prices implemented last week remains in place, with a national average of about N1,300 per litre. A decline in crude oil prices earlier in the week has yet to translate into lower pump prices, raising further concerns among consumers.

Online, Remi’s remarks have drawn widespread support, with many users commending him for speaking out on an issue that directly affects daily living. Some described his comments as reflective of broader public sentiment, especially as more Nigerians grapple with rising transportation and operating costs.

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Business

NCC orders Telco’s To compensate subscribers for poor network service

The Nigerian Communications Commission (NCC) has instructed Mobile Network Operators (MNOs) to make things right for customers when the network quality in certain areas doesn’t meet the expected standards.

This directive was shared in a statement released on Sunday by Nnenna Ukoha, who leads the Public Affairs Department. The statement emphasized the Commission’s firm view that customers shouldn’t have to bear the entire brunt of service problems if operators aren’t meeting the required service delivery benchmarks.

Part of the statement said “Under this directive, erring operators will compensate affected users directly for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).
Mobile Network Operators (MNOs) shall be required to pay these compensations for instances of poor quality of service recorded within specified time frames.

The compensation will be provided in the form of airtime credits, calculated based on subscribers’ average spending patterns and their presence within Local Government Areas where service failures occur.”

Ukoha explained that this directive stems from the Commission’s overall approach to regulation, which prioritizes the consumer right at the heart of Nigeria’s telecommunications landscape. They emphasized that today’s telecommunications services are fundamental to economic activity, social connections, and gaining access to digital possibilities.

“When service quality is poor, the consequences affect productivity, commercial activities, and even public confidence in our communications system.

While regulatory fines have traditionally served as a deterrent against poor service delivery, the Commission is adopting a more consumer-focused approach that strengthens accountability within the industry,” the statement said.

The Commission has designed this measure to complement existing and ongoing efforts to strengthen service quality monitoring and enforce performance standards.

“Further to this directive by the Commission to MNOs on compensation to consumers, the Commission is also mandating Tower Companies that own the critical infrastructure for Quality of Service delivery, such as masts, to invest in infrastructure with measurable outcomes using sums that it has fined these companies, in addition to other financial fines the Commission will deem appropriate.

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News

FG Says Nigeria needs $100 billion to solve power crisis

Nigeria needs over $100 billion in public and private investments to achieve 24-hour electricity, as Power Minister Adebayo Adelabu outlines funding gaps, gas shortages, and sector reforms. The Federal Government has revealed that Nigeria needs more than $100 billion in combined public and private investment across the entire power sector to ensure a reliable 24/7 electricity supply.

At a press conference, where he was updating the public on recent developments and achievements in the power sector under the current government, the Minister of Power, Adebayo Adelabu, acknowledged the recent decline in electricity supply across the country. He apologized to the people of Nigeria and promised to take quick steps to fix the situation.

Put together, we are talking of over $100bn of investments in the upstream, midstream, and downstream of the power sector value chain,” Adelabu said. “This is not a figure to be underestimated, but it is achievable in phases, through a combination of government and private sector participation. Patience and consistent investment are key.”

The minister explained that the government has worked out the costs: bringing an extra 20,000 megawatts of power online would likely set them back around $30 billion, based on an average cost of $1.5 billion for every 1,000MW plant. Getting that power to where it’s needed through transmission lines is estimated at $20 billion, while setting up distribution networks and gas pipelines would cost roughly $25 billion and $22 billion, respectively.

Adelabu pointed out that while South Africa, with a population of about 60 million, is considering a $25 billion private investment in its energy sector, Nigeria’s much larger population – over 200 million – means we need to invest even more, proportionally speaking.

Although there are difficulties now, the minister also emphasized the significant progress that has been made since the current administration took office in September 2023. “For the first time in Nigeria’s history, we achieved a generation peak of 6,001 megawatts in April 2025, and the highest transmission of 5,801 megawatts on March 2, 2025,” he said.

“This was made possible through completion of the Zungeru hydro power plant (700MW), rehabilitation of existing thermal plants, and expansion of renewable energy via mini-grids.”

Installed capacity rose from 13,000MW in 2023 to 14,400MW in 2025, while financial interventions included a N4tn debt restructuring to clear outstanding unpaid subsidies to power-generating companies, of which N501bn has already been raised from the bond market and disbursed.

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