From ₦1 million five years ago, price of a plot of land in Ibeju-Lekki, Lagos has soared to ₦6 million, representing 500 per cent increase, correspondent has learnt. It was also gathered that the land’s price per plot might soar to ₦8 million before the end of the year due to increased demand by investors and home seekers, who are ...

Following plans to introduce a public private partnership scheme that seeks to increase access to housing finance, the Central Bank of Nigeria (CBN) has selected 34 primary mortgage banks and 4 commercial banks to stimulate housing finance for low-income earners in the formal and informal sectors. The banks will join nine other micro finance banks in the ‘My Own Home’ scheme, ...

Lagos –  Mr Kenneth Nduka, the President of Nigerian Institute of Building (NIOB), on Monday identified costly building materials as a factor constraining housing development in the country. Nduka made the observation while speaking with the News Agency of Nigeria (NAN) in Lagos. “There is the need for the Federal Government to encourage production of building materials by placing restrictions ...

The Peoples Democratic Party in Kogi State has rejected proposed plans by Governor Yahaya Bello-led administration to sell some of the state assets. The opposition party while admonishing the governor to immediately perish the thought, considered the plot to be selfish, devilish and myopic. A statement released on Monday by the party’s state publicity secretary, Mr Bode Ogunmola, he said ...

Transparency International has accused the Senate President, Dr. Abubakar Bukola Saraki, of acquiring his UK properties with proceeds of corruption worth £15 million. The properties are located at 7 and 8, Whittaker Street, Belgravia, London. According to Transparency International, the report was conducted by Unexplained Wealth Orders, a new investigative power designed to help law enforcement agencies act on corrupt ...

The International Air Transport Association (IATA) has called for urgent attention to address the infrastructure crisis  affecting the future of the aviation sector. The Director-General of IATA, Mr Alexandre de Juniac, made the call in his keynote address at the Singapore Air Show Aviation Leadership Summit (SAALS). The summit has the theme:“Re-imagining Aviation’s Future’’. A copy of de Juniac’s speech ...

The Federal Road Maintenance Agency (FERMA) has engaged over 200 youths in Bayelsa state to carry out repair works on the failed portion of the six kilometers Yenagoa-Immiringi-Oloibiri road. Head of FERMA Bayelsa Field office, Ayoola Bolaji, an engineer who disclosed during an inspection of the road said the youths were sourced from the communities located along the roads. According ...

Abuja – A group, the African Union Economic, Social and Cultural Council {AU ECOSOCC} said it has developed a road map to engage and attract Nigerians and investors in the Diaspora for socio-economic development of the country. Addressing newsmen at the weekend in Abuja, Mrs. Chinwe Maduike, an International Consultant / Special Adviser on Investment, Diaspora and Development Partners to AU ECOSOCC ...

Fresh widespread opposition may await the Lagos State Government’s newly passed Land Use Charge bill; if indications emerging from the sector’s major players are anything to go by. The proposed law, which repealed the Land Use Charge Law 2001 and enacted Land Use Charge 2017 and For Connected Purposes, aimed at increasing the revenue generation base of the state by ...

As the upward review of toll increment at the Lekki and Ikoyi Link Bridge toll plazas took effect yesterday, some motorists plying the corridor have expressed mixed feelings over the issue. The Lekki Concession Company Limited (LCC) had announced that the toll increment was due to current economic and business realities that had impacted on the cost of servicing its ...