Real Estate News

The President of the Nigeria Labour Congress, Ayuba Wabba, has warned the management of the Federal Mortgage Bank of Nigeria to stop building estates for the super-rich with funds deducted from poor workers’ salaries. Wabba stated this on Wednesday at a groundbreaking ceremony for the construction of an estate on an expanse of land acquired in Karshi, Nasarawa State, by ...

Ogun State Governor, Dapo Abiodun, yesterday, turned the sod for the reconstruction of the Atan-Lusada-Agbara Road, with a promise that the road will not be abandoned. The governor also commissioned the 10.25 kilometres Lusada Junction-Igbesa-Ogun Guangdong FTZ Road, a project undertaken via a Public-Private Partnership. At the twin-event, Chairman, Senate Committee on Works, Adamu Ailero, assured the state government that ...

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called on the federal government to pay attention to the high cost of building materials if it truly desires to provide affordable housing for the low and medium-income earners, the less privileged and vulnerable people of Nigeria. The institution also noted that no single cause can be identified to explain ...

Rents across Lagos (Mainland and Island) and Ogun State have increased by over 30% between December 2020 and April 2021. Findings by Nairametrics revealed that while rent had increased by over 30% in some Lagos border towns like Sango-Ota, Arepo, and Magboro, property owners across Yaba, Magodo, Ikoyi, and Lekki axis also inflated their rents by about 33% within the ...

Shoprite – A Nigerian property company will be taking over Shoprite’s local business in Nigeria. Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its Nigerian supermarket operation, though no further details about the deal ...

The Ogun State Government has said it will commence the construction of the Agbara-Lusada- Atan Road in two weeks’ time. Governor Dapo Abiodun stated this at the opening ceremony of the 10th Gateway International Trade Fair titled, ‘Transforming Agriculture and Commerce in a Highly Competitive Global Market.’ A statement by the Chief Press Secretary to Abiodun, Mr. Kunle Somorin, said ...

The Federal Ministry of Works and Housing has set aside N100m in the 2021 budget for the rehabilitation of the Ife-Ifewara Road which had been fixed by the General Overseer of the Redeemed Christian Church of God(RCCG), Pastor Enoch Adeboye. The road was rehabilitated free by Adeboye as part of the church’s Social Corporate Responsibility at the cost of N188,440,342.00. ...

The body of a middle-aged man, simply identified as Femi, has been recovered from a well along the Ado Ekiti-Afao Ekiti Road in the Ekiti State capital. Sources said the deceased left home on Friday and all efforts to locate his whereabouts were futile until his dead body was found in a well allegedly on his plot of land on ...

A property belonging to the immediate past Deputy Governor of Edo State, Dr Pius Odubu, has been demolished by the incumbent governor, Godwin Obaseki.  It was gathered that the property, which was occupied by the ex-deputy governor’s younger brother and other family members, was located on Denis Osadegbe Avenue GRA, Benin, the state capital. The building was demolished alongside those ...

The crisis within the family of the late Dr. Tosin Ajayi, the Founder of First Foundation, has deepened over his inheritance. Ajayi, who died on April 26, 2020, was until his death married to Oluwayemisi, with whom he had five children. However, he and his wife were separated for about 30 years before his demise without being divorced. The deceased ...