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Lagos State Real Estate Practitioners Now Have A New Registration Portal

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As part of strategies to mitigate the activities of fraudsters in the real estate sector, the Lagos State Real Estate Regulatory Authority, LASRERA, on Thursday launched a website and registration database.

Speaking during the launch of the website: www.lasrera.com at the Bagauda Kaltho Press Centre, Alausa, Ikeja, the Special Adviser to the Governor on Housing, Mrs. Toke Benson-Awoyinka said the website became imperative so as to create, capture and update a Unified Central Database of Real Estate Practitioners and their activities within the State.

She said, “We are well aware of the trend of fraudulent practices of some Real Estate Agents and Property Developers; this is reflected in the complaints received by the Agency in recent times from residents who had fallen victims to fake Real Estate Practitioners and Property Developers while seeking for accommodation, purchase or sale of property, hence the need to have a comprehensive database that can be used to curb these fraudulent practices in the sector”.

Benson-Awoyinka emphasised the vital need to sanitise the industry because Lagos is the commercial and economic nerve centre of Nigeria and Africa with lots of investments opportunities, adding that the State Government had also worked tirelessly over the years to curb the increasing fraudulent practices in the Real Estate sector.

The Special Adviser noted that the public presentation will assist in creating awareness and also educate residents of the State on the importance of patronising registered Real Estate Practitioners and Property Developers.

Speaking on the change of name from Lagos State Real Estate Transaction Department to Lagos State Real Estate Regulatory Authority (LASRERA), she stated that the administration of Governor Babajide Olusola Sanwo-Olu, in a bid to transform Lagos into a 21st Century Economy as enshrined in the T.H.E.M.E.S Agenda, approved the transition of the Department to an Agency on 7th February 2020.

According to her, part of the mandate of the new office includes the preparation of rules and regulations for the practice of Estate Agency and other connected matters in the State; identification of persons eligible to be licensed as Estate Agents and Renewal of Annual Licenses; Sanction of unlicensed Estate Agency Practitioners in the State, as well as the investigation of complaints and petitions against Licensed Estate Agency Practitioners, amongst others.

Benson-Awoyinka reiterated that the event complements the Smart City initiative of the present government, where service delivery will be technology-driven and readily available to the masses.

“We remain committed to providing an enabling environment and transparent Real Estate sector conforming to international best practices while safeguarding the ultimate interest of all the stakeholders. As a government, we have provided the creation of an innovative and sustainable environment to promote Lagos as a Real Investment destination in Africa and the World”, she said.

The Special Adviser averred that the website www.lasrera.com houses a brief history of the agency’s initiatives, aims and objectives, commitment to the people, a complaint section and a registration portal which allows practitioners to upload documents, stressing that the Agency also has social media handles for effective management and communication amongst the stakeholders.

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The Economics of Product Decisions: Applying Behavioural Economics and Game Theory in PM

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Amarachi Nnochiri
Amarachi Nnochiri

Product managers often need to make a clear-cut decision: what should we build next? But the decisions which hold real importance go beyond adding features.

It’s about getting what makes people tick.

It goes way beyond what you would expect, getting into how people behave and using game theory.

These areas give insight into how users decide and how a product’s design can improve growth and keep people interested.

This is what Amarachi Nnochiri excels at. She is a senior product manager that knows how to use economics and psychology in her job.

She goes beyond simply managing product tasks; she develops whole product systems based on how users think, feel, and use a service. Her background shows how understanding human psychology and behaviour can give you a significant advantage in the competition.

One idea Amarachi uses is  “loss aversion.” In this scenario, people feel worse about losing something than they feel good about gaining something of equal value.

She uses this when designing her products, mostly when it comes to pricing and getting people to try new strategies. For example, instead of giving a free trial, she might use a freemium setup where users get some stuff for free but could lose it if they don’t buy an upgrade. This pushes them to pay.

She might also use progress bars or streak counters, since losing progress gets people to keep using the product.

Amarachi also uses ideas from “game theory” to get how users act and change their behavior. She realizes that users are doing more than operating a product, but are playing a game with other users or with the product itself. She designs things that use ideas like “Nash equilibrium,” where nobody can do better by changing what they’re doing. For a social product, this could mean creating a system where doing something good for yourself (like inviting friends) also helps everyone else. This makes the whole thing stable and positive.

Her know-how in game theory also applies to making strong “network effects.” This means making stuff that gets better as more people use it.

A good example is a social network where each new user makes the product more helpful for everyone else. Amarachi endeavours to make things go viral on purpose, not just by luck.

She might use “commitment devices,” which are things that make a user stick with a behaviour by making them depend on it socially or functionally. For example, inviting team members to a tool makes the user stick with the platform and makes the product’s network stronger.

This way of thinking is better than just following the usual steps. By using these economic and psychological tricks, Amarachi develops competitive advantages which are difficult to replicate.

She knows that a company’s best thing is not just a simple interface, but a product that’s designed to sync with how people behave.

Her product choices aren’t just about the needs of users, but equally focus on motivating them to like the product, use it, and stick with it.

In her work, choosing a subscription price isn’t just a business thing; it’s about behaviour. Designing a social feed isn’t just about the content; it’s about balancing what people want and watching how they interact. Amarachi knows extensively about the economics of product decisions. This makes her products innovative and appealing to human behaviour, which leads to more use, keeps people around, and helps the product grow. She’s a leader in product management, where identifying customer desires is backed by understanding human motivation.

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Glo reduces international call rates 

By Sandra Ani

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Glo and Globacom


Technology Company, Globacom, has announced significant reductions in its International Direct Dialing (IDD) rates, making international calls more affordable for its existing and new customers across Nigeria.

Effective August 10, the new rates began applying to over 15 popular international destinations, including United States which will has moved to ₦30 per minute, down from ₦35, United Kingdom is now N350 from ₦400, while India also moved down to ₦40 from N45.

The rates for China, Saudi Arabia and Cameroon however recorded major reduction moving to N75, N300 and ₦700 respectively.


The reduction was also extended to African countries including Benin Republic which goes for ₦650 per minute, Niger Republic ₦750, Ghana ₦500, and Togo ₦650. United Arab Emirates also moved from ₦450 to ₦325, Germany to ₦550, Côte d’Ivoire ₦700, Libya ₦700, while calls to Malawi is now N1,100 from ₦1,200.

Glo aims to provide more value for its customers through these revised rates, encouraging them to make Glo their preferred network for international calls. New IDD bundles will also be introduced, offering frequent international callers even more attractive deals.

Globacom, which remained optimistic that frequent international callers will benefit immensely from the reductions in IDD bundles, enjoined customers to take advantage of the new rates to stay connected with friends and business associates across the globe.

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Oil subsidy removal freed up resources for infrastructure – Enugu Governor 

By Orji Israel, South East Correspondent

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Oil benchmark

The Executive Governor of Enugu State, Peter Mbah, has attributed the financing of numerous infrastructure projects embarked by the state government to the oil subsidy removal policy of the President Bola Ahmed Tinubu administration.

He made this declaration at the Govermment House, Enugu, during a courtesy visit by a delegation of federal government led by Minister of Information and National Orientation, Mohammed Idris, as part of activities lined up for the 2-day Citizens’ Engagement Series in the South East geo-political zone.

“For us in Enugu, we are able to accomplish all we promised our people during the campaign, thanks to the bold decision taken by President Bola Tinubu, which has freed up resources needed to execute humongous capital projects,” said Governor, while listing ongoing projects in the state, which include the construction of 7,000 classrooms, 3,300 hospital beds and 2,000-hectare of 260 farm estates across the 260 wards of the state.

Governor Mbah also pledged more support for the policies of the federal government, saying they are in the best interest of the people of the state.

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