The Ministry of Works has said that the contractor handling Section II of the Lagos-Ibadan Expressway reconstruction and expansion project, Reynolds Construction Company, RCC, was facing challenges of finance, adverse weather and impatience of motorists. Mr. Nelson Olubakinde, the representative of the Ministry, told newsmen in Ibadan: “The construction company (RCC) is facing challenges of finance, weather, especially rain, and ...

DIA, the Spanish supermarket brand, is expanding further in West Africa, with its Nigerian operator planning to open more than 100 stores by 2020. Two outlets have already opened in Lagos and Samuel Abiola-Jacobs chief operating officer at First Master Retailers Ltd, the Nigerian company that owns the local rights to run DIA stores, indicated that more could be added ...

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s Development Finance Institution, yesterday signed an agreement recognizing a $15 million commitment by OPIC to finance Txtlight Power Solutions, Ltd. doing business as Nova-Lumos (Lumos), an off-grid electricity provider, to scale up a business that provides solar electricity to homes and small business throughout Nigeria. The signing was part of Secretary John Kerry’s Climate ...

Last week, news of the Banana Island property acquired by the Popular Nigerian Blogger, Linda Ikeji broke the internet. The property said to be worth over half a billion Naira brought about mixed reaction from home and abroad. Here are 4 reasons why Linda Ikeji Banana Island property might be a wrong investment choice as written by Vincent Ogu and ...

FirstRand Bank Ltd said the property unit of its investment banking arm has raised $203 million (about N50billion) for its Real Estate Development Fund (REDF) aimed at developing real estate assets in Nigeria and other West African countries. Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, is a leading South African corporate and investment bank and part of ...

Barely one year after its formation, a real estate investment firm, Natanel Florens, is offering high-yielding investment options to private clients in the real estate and private equity sector. The firm, which owns the Private Property Investors Trust (PPIT) franchise in Africa, says its scheme also offers 80 per cent on property investment over five years, irrespective of the property investment ...

The Managing Broker from Centurion Realty and Estates, Mr. Ola Sanni, has emerged Realtor of the Year” at the 5th Annual Awards Gala hosted by the United States (U.S) Congressman, Danny Davis. The ceremony was put together by the seventh Congressional District’s Multi Ethnic Advisory Task Force (MEATF) at The Meadows Club in Rolling Meadows, Illinois, Chicago, U.S. According to Dr. ...

The A seven-member Presidential project monitoring team led by its director, Mrs. Sandra Fadeyi, has visited FESTAC Phase 2 project located in Amuwo-Odofin Local Government area of Lagos State. The visit was a boost for the concessionaire, the New Festac Property Development Company Limited (NFPDCL). Also on the inspection tour were some officials of Federal Housing Authority (FHA), led by ...

Dr Aliyu Oroji Wamako is the vice president of Real Estate Developers Association of Nigeria(REDAN) and CEO of Jedo Investment Limited. In this interview with Chika Okeke, he spoke on issues affecting the built industry and why it would be difficult for the private sector to provide affordable housing. Read below: Stakeholders are optimistic that it will take government next ...

A 3 storey building has collapsed in Odunfa street, Lagos island. According to Ibrahim Farinloye, the South-west spokesperson for the National Emergency Management Agency (NEMA) many are feared to be trapped in the building as 4 persons have been rescued so far. “4 rescued alive, no death recorded so far, search continues”, he told our reporter. Witnesses told Naij.com that the ...