Real Estate News

After months of sustained discussion, the Lagos State Government Tuesday signed a memorandum of understanding (MoU) with First Investment Property Company (FIPC) to redevelop and complete 472 units at Ilubirin Housing Scheme. The state government, therefore, disclosed that the scheme would be constructed in seven phases, adding that the existing structure, which is already underway, would be completed in 2019 ...

Illegal landlords who had encroached into LASU lands through the deceit of land speculators, have in a new twist, said they don’t want to be tenants to the institution but abide only by the state government’s policy on the issue at another stakeholders meeting aimed at reaching an amicable resolution on the matter. Funmi Ogundare, who has been following the ...

Perturbed by the high level of homelessness among Nigerians, the Federal Government has been urged by real estate experts to establish a housing microfinance fund or shelter fund to provide affordable houses for those in need of accommodation. Establishment of housing microfinance fund, according to Social Housing Activist and International Housing Finance Specialist, Mr. Adekunle Faleti, will enable low-income earners ...

Loans from banks to the industrial sector of the Nigerian economy grew by N1.74 trillion in three years from a total of N4.54 trillion in the first quarter of 2015 to N6.28 trillion by the final quarter of 2017. The loans were disbursed to four sub-sectors of the industrial sector: mining and quarrying, oil and gas; power and energy; and ...

The Senate President, Dr Bukola Saraki has assured Nigerians that the federal government is committed to security of lives and property in every part of the country. He said the legislature would continue to collaborate with the executive to ensure that Nigerians are safe wherever they live across the country. Saraki gave the assurance in Kaiama, Kwara state where he ...

The Lagos State Building Control Agency, LASBCA, at the weekend shutdown eight more houses at Ebute Metta and Surulere areas of the state for illegal development of buildings. The agency also arrested nine people found on site during the enforcement exercise carried out in collaboration with task force officials. Last week, LABSCA had shutdown a Redeemed Christian Church of God, ...

Despite the poor performance of the real estate industry and the lull in the property market in recent times, stakeholders are optimistic about a positive growth this year. The Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, Dr. Yemi Kale, said although the real estate industry, which contributed 6.79 per cent to real Gross Domestic Product, ...

Africa’s richest man Aliko Dangote lamented that check points mounted by Customs, Navy and other agencies were causing traffic gridlock, making life unbearable for motorists. Dangote said this on Wednesday as he appealed to the Buhari government to withdraw Nigeria Customs and the Nigerian Navy from the Ijora-Apapa Wharf road in Lagos to reduce traffic gridlock. “We are going to ...

For the country to attain housing sufficiency, there is the need for the construction of affordable houses and access to adequate funding that will make cheaper mortgages possible. This is because affordability is critical in the quest of citizens to own personal homes with mortgage market. The difficulty in housing affordability, which boils down to financial capacity, has been further ...

The Federal Road Safety Commission (FRSC) in Niger said on Wednesday that five people were killed in an accident on Bida-Sabon Gida-Minna Road. FRSC Sector Commander, Yusuf Garba, disclosed this in an interview with the News Agency of Nigeria (NAN) in Minna. He said 19 persons, who were critically injured in the accident, were receiving treatment at the Bida General ...