Real Estate News

The MTN Employees Cooperative Society, through its prosecution witness, Cyril Ilok, has sued two of its former staff; Primavera Engineering and Construction Limited and Mabo Dredging Limited; for allegedly defrauding them of some hectares of land, purportedly meant for the development of Yellow Estate Project, Okun Ajah, Lagos. The defendants in the case include: Victor Akintunde, Gani Mustapha, Mutairu Babatunde, ...

The Managing Director of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, has commended the directive of the Central Bank of Nigeria (CBN) compelling commercial banks to lend the real sector for economic growth. Kuru stated this at the Institute of Directors (IoD) 2018 luncheon held in Lagos. The Managing Director of AMCON also noted that lending to the ...

Nigerian building developers have come together to discuss the pathway for a greener Nigeria through the construction industry. Financial institution and mortgage re-finance provider NMRC has pledged to be a leader in pioneering the implementation of EDGE certification in the construction industry. NMRC and the International Finance Corporation (IFC), a member of the World Bank Group, along with the consortium ...

The Governor of Jigawa State, Abubakar Badaru, on Monday recalled that when he was inaugurated in 2015, he received a voluminous document detailing huge debts and uncompleted capital projects worth N31.3 billion in the state. “The first day I went through the handover note submitted to me by the then PDP administration, I felt like running away because of the ...

Stanbic IBTC Pension Managers Ltd. (SIPML) says the company’s Assets Under Management (AUM) presently stands at N2.53 trillion with N350 billion invested in the equities market. Eric Fajemisin, SIPML Chief Executive Officer, stated this at a media conference in Lagos. He said that the company’s AUM was in excess of N2.53 trillion with over 1.6 million retirement savings accounts across ...

Earlier this month, President Muhammadu Buhari approved the establishment of a Presidential Infrastructure Development Fund (PIDF) with seed funding of $650m from the Nigeria Liquefied Natural Gas (NLNG) Dividend Account as approved by the National Economic Council (NEC). The fund will be managed by the Nigeria Sovereign Investment Authority (NSIA) and invested specifically in critical road and power projects across ...

Policy inconsistencies by successive administrations, which hinder home ownership in Nigeria, have been attributed to increasing housing deficit in Nigeria, Mr. Boss Mustapha, the Secretary to the Government of the Federation (SGF), has said. But experts in the industry having reviewed the challenge of housing deficit in the country have again preferred ways Nigeria can overcome her 17 million units ...

This article is a brief but detailed analysis of real estate market in Nigeria and how it contributed to GDP based on the report of Nigeria Bureau of Statistics (NBS) report. It is unarguable that the Real Estate market offers a great potential source of growth for Nigeria’s GDP. The real estate industry has been repeatedly touted as an undoubted goldmine ...

Federal Road Safety Corps (FRSC) has said that the several road constructions and networks in Osun have helped the Corps in discharging her constitutional duties across the state. The Zonal Commanding Officer of the Federal Road Safety Corps in-charge of Zone 11, ACM Olumide Michael Olagunju‎, stated this when he paid a working visit to Aregbesola at the Governor’s office ...

Developers– The momentum for housing finance support by mortgage banks, particularly in Abuja, appears to be shifting early to medium income and luxury homes, with the completion and kick-starting of new projects in the Federal Capital Territory (FCT). Over the years, the government had been the major player in the area of housing delivery in Nigeria, by providing direct finance ...