Real Estate News

Minister of Transportation, Rotimi Amaechi, has explained why the Lagos-Ibadan-railway project has not been completed. He revealed that the relocation of the oil and gas, water and sewage pipes on the road was responsible for the delay. Amaechi disclosed this in Ibadan, at the monthly meeting of the Lagos-Ibadan-Railway line Project Steering Committee. He said the Federal Government was carefully ...

A couple, Ademola Kafaru and Mojisola, who allegedly defrauded their landlady of N490, 000, were on Wednesday released on a N20, 000 bail each, an Ogudu Magistrates’ Court ruled in Lagos on Wednesday. The Magistrate, Mrs O. Sule-Amza, who gave the ruling, also ordered them to produce two sureties who must show evidence of gainful employment. The couple who lives ...

Low tax revenues, huge obligatory spending and higher local currency debt amounting to 350 per cent have been adduced among reasons Nigeria has low investment in infrastructure development. Decrying the situation, renowned Chartered Accountant and current Chairman of the Lagos State Economic Advisory Committee Mr. Bode Agusto, pointed out that years ended 2016, Nigeria only invested 2.1 per cent of ...

Lagos   –    Mortgage Banking Association of Nigeria (MBAN) on Wednesday expressed readiness to surmount the bottlenecks associated with land title processes through the introduction of “Formula 131’’. The MBAN’s President, Mr Adeniyi Akinlusi, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos. He said that formula 131 stipulates that the cost of obtaining land ...

The Memorandum of Understanding signed between Dangote Industries, Flour Mills Nigeria and the Federal Government last year, on the rehabilitation and reconstruction of the Apapa Port Wharf Access road through Corporate Social Responsibility, is on course to meet the July, 2018 completion deadline. On Wednesday February 14, 2018, the President of Dangote Industries, Alh Aliko Dangote and GMD Flour Mills ...

Property agent-An Ogun State High Court, Abeokuta, has convicted and sentenced a woman, Folashade Adeleke as she bags six months imprisonment without an option of fine on a two-count charge bordering on stealing. The convict who was arraigned by the Ibadan zonal office of the Economic and Financial Crimes Commission in 2016, pleaded not guilty to the two charges against ...

A subsidiary of the Nigerian National Petroleum Corporation, the NNPC Properties Limited (NPL), which manages the real estates of the NNPC on Tuesday said it has commenced the recovery of some NNPC’s landed property worth about N100 billion across Nigeria. According to a statement from the Group General Manager, Public Affairs of the NNPC, Mr. Ndu Ughamadu, the asset recovery ...

A Federal High Court in Lagos has adjourned until February14, a suit seeking final forfeiture of two penthouse structures, allegedly linked to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke. The suit was adjourned to a further date following the absence of Justice Mojisola Olatoregun, who was said to be attending a workshop. Olatoregun had on December 5, 2017, ...

Displaced members of the African Arts and Culture Heritage Association (AACHA), Abuja, on Tuesday, appealed to the management of National Council for Arts and Culture (NCAC), to reallocate them to another befitting place if it wishes to use the premises. The Financial Secretary, Mohammed Mohammed, who made this appeal in a telephone interview with the Nigerian Tribune in Abuja, also ...

Industry expert– One major thing the Federal Government needs to tackle urgently is developing the real estate sector, which has not shown any sign of recovery from recession going by the number of abandoned projects dotting the landscape. As investors are beginning to show confidence in the Nigerian economy due to the government’s intervention in forex, rebound in the capital ...