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Monthly Archives: April 2014

Mortgage and Nigeria’s Housing Deficit

Analysts have estimated the housing deficit in Nigeria at about 16 million. In one report they  also stated that over 50 per cent of 170 million people living in the country are either homeless or without adequate housing. Nigeria’s real estate sector accounts for 7.6 per cent of the country’s recently rebased Gross Domestic Product (GDP). In an attempt to ...

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Dangote’s 42.5 Cement Grade Gets Endorsement

Cement dealers and distributors in the South-west have endorsed the newly packaged Dangote cement’s 42.5 grade (3X) and expressed optimism that the entry of the product into the market would help sanitise the building and construction industry.   Phoning in from different states in the region during a live Yoruba programme, Owuro lojo, on Radio Nigeria’s Gold FM in Ilesha, ...

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Nigeria Becomes Africa’s Largest Economy Overnight

Does the continent’s most-populous country deserve its new title? Recently, Nigeria became Africa’s largest economy by recalculation of its GDP (Gross Domestic Product). How did this happen, and what are the implications? Here is an article by URI FRIEDMAN about it. Please comment after reading, we would love to have your thoughts afterwards. credits: www.crudeoildaily.com Something strange happened in Nigeria on Sunday: The ...

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Outline of the Nigeria Mortgage Refinance Company (NMRC)

NMRC was established to bridge the funding cost of residential mortgages and promote the availability as well as the affordability of good housing to Nigerians by providing increased liquidity in the mortgage market though the mortgage and commercial banks. The company is driven by substantial private sector participation consisting of commercial banks, primary mortgage banks, insurance companies, private equity investors ...

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Nigerian Federal Government Promises 10,000 Housing Project

multi-million dollar hospital

The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, unfolded the Federal Government’s plan to collaborate with other stakeholders in the housing sector to deliver about 10,000 housing units this year. The minister announced this at the inaugural Housing Stakeholders’ Implementation Summit in Abuja which held on March 23, 2014, where she also defended the government’s ...

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Interview with Jide Odelola; Vice President APICAN pt 3

NREH: Including people like Jide Taiwo? If he wishes. It’s just that in the country now, real estate agents have many associations. I spoke about ERCAAN earlier and there are so many others but after the stakeholders meeting, a lot of them now want to affiliate with APICAN and we are all working on having a common body. The people ...

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Interview with Jide Odelola; Vice President APICAN pt 2

NREH: Yes! Are you not taking money? NREH: Currently, our paper is online and we are more interested in the stories than in collecting money. Okay, but I need you to understand me. If somebody comes in here now and says he’s looking for a house and I get him a house, he’s supposed to give me whatever is due ...

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Interview with Jide Odelola; Vice President APICAN

NREH: So tell us about yourself sir? My name is Jide Odelola, born some years ago NREH: (Smiling) some years ago can be 2010 so when exactly? Well, I was born some years ago. At least I’m an adult. (Smiling) Anybody above 18 is an adult, isn’t it? Then I attended some schools. NREH: Like? (Laughing) And I taught in ...

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