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Friday, August 7, 2020

Nigeria needs PPP model to tackle $363bn housing deficit -Expert

Former Managing Director of the Nigeria Mortgage Refinance Company, Professor Charles Inyangete, says Nigeria needs 363 billion dollars, about N111.08 trillion to meet current housing deficits in the country. Inyangete made this known while speaking at a Facility Management forum in Abuja, on Tuesday to...

FMBN disburses N72.5bn mortgage loans in 25 years

As mortgage loans to homeowners under the National Housing Fund scheme rise, experts are of the opinion that a lot more needs to be done, MAUREEN IHUA-MADUENYI writes Loan disbursement to homeowners under the National Housing Fund being administered by the Federal Mortgage Bank of...

FG spends N198bn to build 26,002 rent-to -own model houses

A total of N197bn has been spent on the construction of 26,002 houses across the country. The Federal Government announced this on Tuesday, adding that part of the funds was also used for the renovation of 13,953 homes nationwide. The Managing Director, Federal Mortgage Bank...

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...

Lagos Assembly Amends Land Use Charge Law 2018

Members of the Lagos State House of Assembly have amended the Land Use Charge Law, 2018 and for connected purposes. The 6 Man Ad Hoc Committee, Chaired by Hon. Rotimi Olowo, presented the report of the findings of the Committee to Members at the Plenary...

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...

Ogun govt. set to explore PPP initiative for housing development — GM

By Olawale Jokotoye Abeokuta, July 28, 2020 The Ogun government on Tuesday announced plans to explore the Public Private Partnership (PPP) initiative to achieve maximum and rapid development of its housing sector. The new General Manager of the state Housing Corporation, Mr Akinwale Ojo, said this...

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...

How Nigeria can develop 4m housing units in 4 years, Experts

Apparently worried by increasing accommodation challenges among Nigerians, some concerned affordable housing advocates have mulled fresh ideas to deliver four million houses in four years. Throwing themselves in for the housing challenge and solution, they sought from the Federal Government an Executive Order or legislation...

13 states to copy new mortgage law

August 20, 2018 Following calls for the government to simplify the process of homeownership, more states are taking steps to reform mortgage and land administration, MAUREEN IHUA-MADUENYI writes To make access to land, housing and mortgage less cumbersome for their indigenes, about 13 states are expected...
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