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Real Estate News

Another building collapses in Ikorodu

building

Another building has collapsed at Rademo Street, behind recreation center, Ita Elewa, Ikorodu area of Lagos as a result of Saturday’s heavy downpour. According to the Lagos State Emergency Management Agency, LASEMA, the one storey building partially caved in because of intense rainfall but said no life was lost. Investigations by LASEMA revealed that aside from the heavy downpour, the ...

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Nigeria needs sustainable action plan on housing –Stakeholders

Nigeria

Stakeholders in the construction and real estate industry have said Nigeria needs a sustainable action plan to address its housing shortage. They noted that if properly regulated, the sector had the potential to create jobs and promote economic prosperity. The Governor of Kaduna State, Mallam Nasir El-Rufai, said it had become necessary to take a holistic look at housing at ...

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FCTA to upgrade Unity Fountain

FCTA

The Federal Capital Territory Administration (FCTA) says it has concluded arrangement to upgrade the Unity Fountain, located on Shehu Shagari Way, Maitama.  Mr. Anthony Ogunleye, Chief Press Secretary to the FCT Minister, made the disclosure in a statement on Tuesday in Abuja.  He said that the Unity Fountain would be closed for between 60 and 90 days to allow construction ...

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Flood: Badagry residents count losses in homes, churches, farmlands

residents

Residents of some communities in Badagry area of Lagos State have continued counting their losses due to flooding after many hours of weekend rainfall which destroyed homes, churches, shops, and farmlands. It was reported that communities affected by the flooding, which destroyed property worth millions of naira, include Zongbakomeh, Yoyome, Vetho Gevie, Poshukoh, Oropo, Finanyo, Itoga road, and Okutu Imeke. ...

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National electricity grid gets a boost of 3,226MW by GenCos

electricity

Electricity Generation Companies, comprising gas-fired and hydro stations, said they released an average of 3,226 megawatts/hour of electricity into the national grid on Saturday, October 12, 2019. This was contained in a daily energy report by the Advisory Power Team, office of the Vice President, a copy of which was obtained by on Sunday in Abuja. The report said the ...

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Man drags lawyer, father to EFCC over land racketeering

EFCC

A Professor, Charles Oluokun, has dragged a lawyer, Mr. M. A. Laogun, and his son, Bar. A. A. Laogun, to the Economic and Financial Crimes Commission (EFCC) for alleged land racketeering. A petition written by one Adebowale Oluokun and Adekunle Adeniyi on behalf of the Professor alleged that the father and son illegally paraded themselves as Solicitors/lawyers of Oluokun and ...

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Land title hitches stall property investments in Abuja

Land titles

Most estates and properties in the Federal Capital Territory (FCT), Abuja, do not have Certificate of Occupancy (C-of-O) due to the challenges involved in the processing of land titles from the authorities responsible for land management.   The inability to process the backlog of applications for the issuance of C-of-O continues to deny individuals and corporate investors the right to use ...

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Ekiti 2020 budget to address erosion, infrastructure – Fayemi

2020 budget

Governor Kayode Fayemi of Ekiti State has assured residents of the state that in addition to steps being taken at the moment, the 2020 budget will take care of the erosion problems confronting the state. Fayemi lamented that “the issue of flood and erosion had affected virtually every community in the state and had caused a lot of hardship to ...

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REDAN, EFCC collaborate to curb property fraud

REDAN

The Real Estate Developers Association of Nigeria(REDAN) says it is working with the Economic and Financial Crimes Commission to curb sharp practices such as money laundering and other fraudulent acts in the real estate industry. The President of REDAN, Mr. Ugochukwu Chime, said the association in collaboration with the EFCC and the Special Control Unit on Money Laundering had since ...

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LASEMA alerts NNPC over pipeline vandalism in Lagos

LASEMA

The Lagos State Emergency Management Agency (LASEMA) has raised the alarm of possible fire outbreak following pipeline vandalism at Kakatin Road, Aboru in Mosan-Okunola Local Council Area of the State. Director-General of LASEMA, Dr. Olufemi Oke-Osanyintolu, raised the alarm in an interview in Lagos on Sunday. The LASEMA boss asked the Nigerian National Petroleum Corporation (NNPC) to shut down the ...

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