2014 Argus Software Competition: We are Aiming to be the best…Dr. Oni
The Head, Department of Estate Management in Covenant University, Dr. Ayotunde Oni, has charged the University’s representatives at the 2014 Argus Software Competition to put up impressive performance at the ongoing event.
Dr. Oni said the University’s representatives have been wonderful ambassadors at previous editions of the competition and having come fourth on two different occasions, it behooves on them to aim higher this time around.
Three of the University’s five representatives to the competition, Boroni Odalo (500 Level), Adeniyi Eyimofe (500 Level) and Yisa Boye Jesse (300 Level), said that the exposure to the Argus Software and application of the same has enabled students of Estate Management to be capable of providing accurate estimate of future income cash flows.
In addition to this, their previous involvement in the competition has helped them understand the principles of making provision for investment categories like risk and sensitivity analysis, capital expenditures, reimbursement and non-reimbursement expenses, present value discounting amongst others, and in all, they are able to discount these cash flow earnings to the present day value.
He alluded to the fact that they are new in the usage of this software, but they have covered many grounds, competing with the very best in the United States of America and other European Union countries, where the Argus Software has been in use. Quoting Adeniyi Eyimofe, “It’s indeed an amazing addition to the industry here in Nigeria. Argus Enterprise has through this Software improved my mental ability to think outside of the box and take great risk. This software is an advancement to the real estate industry.”
Boroni Odalo noted that real estate projects are being conducted today without an adequate breakdown on the projects feasibility and viability studies; and most of such projects end up not fulfilling the objectives of the investor. The final year Estate Management student said he hoped that with the aid of the knowledge garnered from the University’s exposing him and his colleagues to the software, he would be able to properly value real estate schemes in Nigeria prior to developmental phase on the basis of viability status.
A debutant in the University’s team to the competition, Yisa Boye Jesse could not conceal the excitement of competing against the very best in the world. According to him, “I am new on the team, but my experience so far has been both exhausting and exhilarating and I have finally come to terms with the fact that real estate development requires both technical and experiential knowledge, and the Argus software we are working with combines these qualities on an easy to use platform.” Yisa stated that, at this point, what he thinks they need most is to make the right assumptions and think, both literally and creatively, to maximize opportunity and win the competition this year.
It would be recalled that Covenant University came fourth in the last two editions of the competition ahead of students of universities in advanced countries who have been using the software before of them.