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Yearly Archives: 2017

Investors in Commercial Property Settle for REIT as Funding Option

REIT as funding option

“Fresh prospects may be available to real estate investors seeking property ownership without the attendant expenses or difficulties of being a landlord. Their hopes rest on statements about the availability of a well-managed Real Estate Investment Trust (REIT), made recently by one of Nigeria’s leading property development companies, Top Services Limited (TSL). Bennett Oghifo writes Top Services Limited (TSL), a ...

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Nigeria signs the Minamata convention on Mercury

Minamata Convention

The Guardian reports that following human activities in the recent times that increased exposure to high level of mercury, Nigeria has moved to protect human health and the environment from anthropogenic emissions and releases of mercury by 2020. Nigeria signed the Minamata Convention on October 10, 2013 the day it was adopted and opened for signature by the global community ...

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Fire kills two children in Borno IDPs camp

Borno IDP camp

“Two children have died in a fire incident in an internally displaced persons (IDPs) camp in Jere Local Government Area of Borno State.”- Punch Punch also reports that at least 400 families reportedly lost their homes as a result of the disaster at the camp which was located few kilometres from Maiduguri, the state capital. The News Agency of Nigeria ...

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Groups urge ECOWAS to secure communities’ land rights

ECOWAS to wade into communities’ land rights

“If plans being made by the Civil Society Organisations (CSOs) in sub-Saharan Africa sail through, the long wait by communities to secure land rights may end soon. The groups gathered in Abuja to present to the Department of agriculture and Rural Development of Economic Community of West Africa States, the Land Policy Initiative of the African Union, African Development Bank ...

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Developers and firms in dilemma over rising cost of building materials

Building materials

“Efforts at improving the nation’s construction industry for the past few years may have suffered a setback, as property developers have recently seen an increase in the cost of building materials shoot up projects prices. Building firms and professionals currently witnessing slow transactions in the real estate sector are now grappling with a 150 per cent rise in material prices ...

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Fire guts Edo NYSC office

Edo NYSC ofice

The News reports that valuable properties worth millions of naira were destroyed in an inferno that razed the Edo NYSC office in Benin, Edo state, over the weekend. The News also states that the incident which was said to have occurred at about 3 pm on Saturday, completely destroyed a store containing hundreds of unused mattresses and chairs. Also consumed ...

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Investors beholding red signals for UAC Property, Nigerian Breweries

UAC Property, Nigerian Breweries

Vanguard reports that investors may be bracing up for another scorch-earth returns terrain in equities as companies begin to sound another round of profit warnings for full year 2016 results more of which are expected to be coming out from this week. UAC Property Development Company Plc, UPDC, fired the first salvo last Thursday when it announced it was expecting ...

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Delivering value in facility management in Nigeria

Samuel Ukpong on facility management

“1004 Estates Limited is a wholly indigenous real estate firm that was established by a group of investors to acquire 1004 Estates in Victoria Island, Lagos from the Federal government of Nigeria. The Managing Partner of the organisation, ESV Samuel Ukpong is a seasoned and unassuming professional who is focused on delivering value in the industry with emphasis on living, ...

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Rivers State Governor, Wike unveils land ship

Land ship unveiled

Vanguard reports that Rivers State governor, Chief Nyesom Wike, has formally unveiled Nigeria’s first ever land ship, MV Rivers Pride. The land ship was built by an indigenous maritime training institution, Charkin Maritime and Offshore Safety Centre. He also approved a certificate of occupancy for the land on which the land ship is situated at Ozuoba, on the East-West Road, ...

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FMBN’s N9b lifeline for 1,244 credit facilities

FMBN’s N9b lifeline

The nation reports that after  posting N2.7 billion as its operating surplus at the close of last year, the Federal Mortgage Bank of Nigeria (FMBN) has secured the Federal Government’s nod to boost affordable housing financing. The Acting Managing Director, Richard Esin highlighted the bank’s business performance  at a review session on FMBN’s operations last year. He said the bank ...

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