Real Estate News

The Lagos State government is perfecting plans to prosecute the owner and driver of the ill-fated fuel tanker which exploded last Thursday on Otedola Bridge, inward Ojodu Berger, along Lagos-Ibadan Expressway, Imohimi Edgal, the state’s Commissioner of Police, said on Monday. Already, Adeniji Kazeem, the state’s Attorney General and Commissioner for Justice, had at the weekend written to Edgal to ...

Former President, Chief Olusegun Obasanjo yesterday requested China to give $90bn to Africa for the development of infrastructure, saying it was the only way the current acute infrastructural deficit on the continent could be addressed. The money is to be spread for nine years. Speaking at the forum organised by the Gusau Institute in collaboration with the Centre for Nigerian ...

It appears the Lagos State Government is struggling to secure investors’ buy-in for the development of the much anticipated 4th Mainland Bridge, as the government has failed to name the preferred bidder for the project contrary to its promise to do so by June 2018 which has just ended. The state had assured in April this year that it would ...

Startups in Nigeria often face the challenge of having little or no funding, as well as inability to maintain a physical office space. However, the need for an office structure by these startups is being effectively catered for by the sheer increase in number of coworking spaces. One of the ways to support Startups in their early stages of their ...

Bearing in mind the late passage of the 2018 budget and the fact that only 50 per cent of what was budgeted for the housing sector in 2017 was released, the Nigerian Institute of Estate Surveyors and Valuers (NIESV) has expressed fears that the sector might not receive up to 25 per cent of its allocation for 2018. Citing so ...

The federal government plans to inject N500 billion into Federal Mortgage Bank of Nigeria (FMBN) putting in N100 billion annually over the next five years as part of efforts to address the housing deficit of the country. Chief executive officer of FMBN, Ahmed Musa Dangiwa, said the mortgage bank was expecting proposals on its recapitalisation, as well as a reorganisation ...

The Edo State Private Property Protection Taskforce has handed over one Efosa Omoruyi of Evbuodia Community in Iyekogba area of Benin to the police. The suspect was accused of land grabbing and destruction of property. The taskforce vice chairman, Chief Osaro Idah, who spoke on the development, said Omoruyi was arrested for disobeying the extant laws that abolished the activities ...

Landowners at Mpape 1 Annex in Abuja have threatened action against the Federal Capital Territory Administration over what they call ‘unlawful reallocation ’ of land allocated to them in Mpape District. In a statement by their counsel, I.M. Gadzama of Silver Shield Chambers, the property owners claim that the FCT Minister, Malam Mohammed Bello had reallocated their lands to mainly ...

The Kano State University of Science and Technology, Wudil, yesterday indicted some students who embarked on violent protest in which the university’s property worth over N500m was destroyed. Besides, the university authority dissolved the Students’ Union Government (SUG) for their involvement and failure to elicit their statutory responsibility during the crisis as enshrined in the university’s law. The students had ...

Scores of butchers under the umbrella of National Butchers Union from the 11 local government areas in Ibadanland on Sunday appealed to Governor Abiola Ajimobi of Oyo State to as a matter of urgency prevail on some elements who are using soldiers, policemen and other security agents to destroy their property, intimidate and harass butchers across the various abattoirs in ...