Business

Reducing housing deficits requires a number of essential ingredients to be in place to ensure a well-functioning housing finance system. This means achieving macroeconomic stability, effective legal and regulatory infrastructure, and ensuring appropriate levels of government intervention and support. In Nigeria with its underdeveloped housing finance systems or systems that only provide access to finance for high-income households, forcing low-income ...

The federal government plans to double its value-added tax (VAT) and cancel government projects if oil prices continue to slide. Coordinating Minister for the Economy/Minister of Finance, Dr. Ngozi Okonjo-Iweala said this in an interview with The Wall Street Journal. According to OKonjo-Iweala, the country is reviewing some 6,000 ongoing projects to see which will be kept, delayed, or scrapped. ...

Real estate developers are always confronted with the perennial problem of being responsible for the provision of basic public amenities that should ordinarily be provided by the government in the bid for developers to make the houses they are constructing livable. This was the view of Mr Hakeem Ogunniran, Managing Director of UACN Property Development Company (UPDC) Plc, who in ...

Every society has its exclusive locations where those who are, socially and economically, out of the ordinary nestle their homes generally defined by sophistication, taste, class and luxury living. Nigeria has a fair share of such locations nurtured and sustained by its fast-paced urbanization, an exclusive class of the nuveau-riche and a growing clan of the middle class whose access ...

I call this approcah the Rent-to-Own or Lease option. The beauty about rent-to-own is that it takes care of the challenge of the tenant. The dilemma about tenancy is that you can be a tenant in a house for thirty years, paying your rent as at when due. If by the thirty-first year you lose your job and cannot pay, ...

For a number of reasons which include the persisting housing deficit estimated at 17 million units, rising urbanisation and evolving scenarios that are likely to stimulate supply, investors and developers are optimistic that the real estate sector in Nigeria will become vibrant again after the general elections slated for next month. Presently, the sector, on account of political activities and ...

Three-hundred-thousand Nigerians spent about N310 billion on vacation in Dubai, the United Arab Emirates (UAE), in December, 2014, more than the annual budgets of a majority of the states in Nigeria. BusinessWorld Intelligence reveals that they spent about N60 billion on flights, N9 billion on visas, N120 billion on accommodations and N110 billion on shopping. A source in The First ...

In a move aimed at wooing investors towards further strengthening the economy of Lagos at a time falling oil prices are pushing some states towards insolvency, Governor Babatunde Fashola has signed an executive order slashing rates applicable to land transactions in the state. The governor’s action is a response to public outcry against difficulties associated with land transactions in Lagos, ...

This is the continuation of the ‘Approaches to buying properties’ series we started towards the end of last year. You can read the earlier articles where we discussed the first approach here and here. The second method is what you can call a supplier’s credit. Supplier’s credit like we know it is your supplier giving you goods to sell before ...

Professor Timothy Olugbenga Nubi, a lecturer of Estate Management and former Head of Estate Management Department in the University of Lagos, spoke to JUDE NJOKU of vangauard on why PPP is the best approach to projects delivery in present day Nigeria. According to him, “a nation is like any family. You can never have all the resources to meet your ...