The Minister of Finance, Dr. Ngozi Okonjo-Iweala, recently revealed that 33 Nigerians have benefited from the Federal Government’s housing programme under the mortgage refinancing scheme. The Minister also added that 9,667 people had also been cleared as eligible to benefit from the scheme. The minister said this while presenting a speech at the Caritas Nigeria Forumon Tuesday in Abuja. In ...

Regardless of the competitive nature of the Nigerian building market, Nigerite Limited has further introduced a new product which they believe will add a new dimension to roofing for Nigerians. The building solutions company has launched a new product called Unique Ceil, an embossed ceiling which comes with a tastefully finished pattern. The new product unveiled at the company’s premises ...

The Vice President of the Nigeria Labour Congress, NLC, Issa Aremu on Monday assured aggrieved workers who subscribed to a failed NLC housing scheme, that their monies would be refunded with interest and an apology. Aremu said this while on Sunrise Daily on Channels Television, noting that the NLC had the responsibility to do so and also prosecute those culpable ...

Home ownership levels are continuing to drop in many countries despite stable or positive outlooks for most mortgage markets, according to a new global report. As a result of market dislocations post economic crisis, home ownership levels face challenges as large foreclosure pipelines are expected to displace owners in some countries such as the US, Spain, and Ireland, whilst new ...

The Federal Ministry of Lands, Housing and Urban Development has said it has reduced housing deficit, improved quality of houses and increased affordability of houses in Nigeria. According to an interview with Daily Trust last week, the Minister of Lands, Housing and Urban Development, Mrs Akon Eyakenyi pointed out that in the last four years, the ministry has provided 61,000 ...

Every city or country requires structural planning. This is to enable the government strategize appropriately and effectively with the purpose of meeting the social, economic and environmental needs of the citizens. In Nigeria, the Nigerian Institute of Town Planners (NITP) is the leading body tasked with the responsibility of improving the art and science of planning. It is responsible for ...

The Federal Government recently re-appointed Mr. Gimba Yaú Kumo as Managing Director of Federal Mortgage Bank of Nigeria (FMBN) for a second tenure of four years. In this interview from Vanguard news, he assesses the mortgage industry in Nigeria and the plan to recapitalize FMBN for better performance. Below are excerpts of the interview. How would you describe the mortgage ...

The Head of the Department of Building, University of Lagos, Prof. Godwin Idoro, has described as multi-dimensional the problems plaguing the housing sector in the country. Idoro, who spoke at the 10th Annual Project Management Lecture organised by the department, said the problem of housing and infrastructure in country affected the low-income earners most. He said, “The situation in Nigeria ...

The housing deficit in Nigeria, estimated at 17 million units has created immense opportunities in the country’s real estate sector, making it a preferred destination for local and foreign investors. The middle to the lower-middle class market alone needs about four million housing units, representing about 20-25 percent of the deficit and Richard Nyong, CEO of Lekki Gardens Limited, estimates ...

In a move to meet obligations to its citizens, Ogun State Government has redeemed its pledge of adequate compensation to farmers in nine communities within the proposed land for Kobape Ultra Modern Housing Estate in Obafemi/Owode Local Government Area. About N48million was paid to 33 families as crop compensation by government officials to further demonstrate its commitment to the welfare ...