Real Estate News

The investment profile report by the Nigeria Investment Promotion Commission (NIPC) shows that Rivers state received the largest investment in the first half of 2018. According to the report, a total of $45.74 billion was invested for 42 projects in nine states and the Federal Capital Territory (FCT). The sectoral analysis of the investment profile showed that mining and quarrying ...

Gov. Akinwunmi Ambode of Lagos State has directed the state Public Works Corporation to fix potholes on major and inner roads across the state within the next four weeks. The Commissioner for Works and Infrastructure, Mr. Ade Akinsanya, said this on Friday, during an inspection of the ongoing Pen Cinema bridge in Agege area of the state. Akinsanya said the ...

The Coalition of Jos Concerned Youths Associations yesterday protested over abandoned road projects in Jos North Local Government Area of Plateau State by the administration of Governor Simon Lalong. The coalition, comprising 19 youth groups, asked the governor to either complete the projects or forget his reelection bid. Speaking on behalf of the coalition, Buhari Ibrahim Shehu, said: “We urge ...

With Nigeria ranking 145 out 190 countries in the World Bank Ease of Doing Business Index and acknowledged as one of the top 10 most improved economies in the world, real estate has attracted over US$4 billion of institutional capital according to 2018 statistics. The country has also moved up by 24 points from 169th position of 2017 to 145th ...

The Federal Government yesterday unveiled its plans to upgrade and maintain all the Housing Estates across the country. Under this programme, which is tagged: “Intervention of Urban Renewal”, all the housing estates built by the federal government and private individuals would be captured. To kick off the programme, which is supervised by the Federal Housing Authority (FHA), the Minister of ...

The Nigeria Labour Congress says Nigeria will need $3 trillion in the next 26 years to bridge the infrastructural gap in country. Ayuba Wabba, NLC president, said this at the Infrastructural Summit of the 40th Anniversary of the National Union of Civil Engineering Construct, Furniture and Wood Workers on Thursday in Abuja. The theme of the anniversary is: “Role of ...

Youths from Eastern Obolo, an Ijaw-speaking local government area in Akwa Ibom State, have commended Managing Director of Niger Delta Development Commission, NDDC, Mr. Nsima Ekere, for the completion of the Ikot Akpaden-Okoroette Road, the only access road to their area. The youths on the platform of One Sure Project and drawn from 10 wards of Eastern Obolo, made the ...

About a week before the National Bureau of Statistics (NBS) released second quarter 2018 Gross Domestic Product (GDP) data, the Statistician-General of the bureau, Dr. Yemi Kale, had hinted that the numbers would fall short of expectations. He reportedly stated that apart from the political and economic uncertainty over the general elections in 2019, what is contributing mainly to slow ...

The Minister of State II for Power, Works and Housing, Surv. Suleiman Hassan Zarma has lamented the deplorable condition of road and drainage infrastructures at the Federal Housing Authority (FHA) estate, Lugbe, attributing it to critical failures of the planning authorities in time past in upgrading them, giving room to the flagrant abuse of planning regulations by residents. Zarma stated ...

The African Development Bank (AfDB), along with some partners across the globe, has announced the securing of $1bn to enable investment in infrastructure development across the African continent, including Nigeria. The announcement, which was made in Ottawa, Canada, according to a statement made available to our correspondent by the AfDB, listed the partners in the multi-level securitisation to include the ...