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Lagos, South Africa and New York
Sunday, June 7, 2020

Projects: Lagos begins payment of N11.8bn compensation to property owners

…Warns Speculators Against Selling Land Under Govt Acquisition The Lagos State Government on Tuesday said it has began payment of over N11.8billion as compensation to owners of properties that had to give way for construction of roads, flyovers, ramps and other critical infrastructural projects...

Banks credit to property market hits N3.12 trillion as Experts say Nigeria’s housing deficit is over 17 million

Mortgage and commercial banks’ lending to the real estate sector has continued a steady growth in the last three years despite the downturn in the economy, a sectorial breakdown of banks’ credit to the private sector has shown. Banking credit to private sector data sourced...

Nigeria’s $405bn worth economy hobbled by mortgage dearth as NMRC eyes debt market to support financiers

After suffering through an economic contraction that restrained demand for housing loans in Africa’s most-populous country, Nigeria’s state-backed mortgage guarantor is anticipating that a return to growth will help double its nascent asset base. Set up four years ago to mimic the U.S.’s Fannie Mae,...

We are constructing affordable houses for Nigerians across the country – Fashola

The Minister of Works, Power and Housing, Babatunde Fashola has confirmed the construction of affordable houses by the federal government across the country under its National Housing Programme. Fashola who stated this while inspecting 80 of the houses being constructed in Kaduna said the...

World Habitat Day: Ambode Reiterates Commitment To Improve Access Of Residents To Affordable Housing

As the 2017 World Habitat Day is being observed across the world, Lagos State Governor, Mr. Akinwunmi Ambode on Monday has reiterated the commitment of his administration towards improvement of access of residents to affordable housing across the state. Speaking at the celebration...

Stakeholders advocate monthly rents payment, condemn shylock landlords

Tunde Alao - Lagos Concerned about the sufferings encountered by tenants in the country, especially in urban centres like Abuja, Lagos, Kano, Port-Harcourt, among others over accommodation rents, stakeholders are  contemplating a legislation that would peg rent to a maximum of one month, instead of...

Nigerian Oil Magnate acquires Eko Atlantic’s Afren Tower

Oil magnate moves his firm, Salvic Petroleum to seaside city • Ramps up Shoreline’s production to 60,000bpd By Alike Ejiofor The first building to be completed in Nigeria’s cutting-edge city of the future, Eko Atlantic, has been acquired by oil magnate and...

Nigerian real estate sector seen turning corner as country’s economy exit recession

  Nigeria has faced strong headwinds in the past two years however, the currency uncertainty and falling oil price and production that have weighed heavily on consumer confidence are giving way Lagos Nigeria, September 12, 2017/ -- The Nigerian real estate sector is turning the corner...

Nigeria plans energy efficient houses to reduce power consumption

The Federal Government of Nigeria has concluded plans to embark on the massive construction of energy efficient housing across the country as part of the efforts to motivate the ordinary Nigerian worker. The energy efficient houses are such that would use less power consumption or...

FG, states agree on monthly house rent payment

Nigerians may start paying property rent on a monthly basis going by the latest resolution between the federal and state governments on the matter, OKECHUKWU NNODIM reports The clamour for the monthly payment of rent by clients in the housing sector received attention at the...