Real Estate News

Practitioners have been called upon to adopt the principles of corporate governance in order to improve the real estate sector. The Guardian reports that corporate governance is a concept by which companies and organisations and those in the helm of affairs are held to account or liable for failure of effective corporate governance structures. According to The Guardian, the Chairman, ...

“Kola Aluko, a Nigerian oil mogul, wanted by the Economic and Financial Crimes Commission is owing the City of New York some overdue property tax. The New York Post said the $25,000 tax is over Aluko’s 79th floor penthouse at One57 in Manhattan which he bought for $51 million in 2014. The penthouse has four bedrooms, four-and-a-half baths, 6,240 square ...

“A pending bill before the Akwa Ibom House of Assembly aimed at taxing property owners in Uyo, the state capital, has become a subject of controversy among the lawmakers and the ordinary citizens alike. Known as Real Property Charge Bill, 2016 and sponsored by a member representing Esit Eket/Ibeno, state constituency, Usoro Akpanusoh, opposition to the bill has come from ...

Business Day reports that furniture makers and other players in the wood industry in Nigeria are asking the Federal Government to float a single-digit intervention fund that will enable them purchase modern technology for wood treatment. Furniture makers made this demand through the Manufacturers Association of Nigeria (MAN), urging the Nigeria Customs Service (NCS) to ensure effective enforcement of prohibition ...

Construction of a Nigeria-Cameroon bridge has been approved by the Federal Government on Wednesday at a cost of $40 million. According to The Independent, It also announced a bold plan to kick-off its green economic policy. The decision followed a successful review of its National Policy on Environment formulated in 1991 and last revised in 1999. The green policy initiative is ...

Every house in the Federal Capital Territory (FCT) may now have to have at least one tree planted in its compound. Mallam Muhammad Musa Bello, the Minister of FCT, has been directed to enforce the directive with immediate effect. The Independent reports that the Senate Committee on FCT which gave the directive on Thursday also disclosed that arrangement has been ...

The Nigerian government has approved a new environment policy which seeks to capture some of the emerging issues in environment matters. According to Premium Times, this was revealed, Wednesday, by the Minister of Environment, Amina Mohammed, after the meeting of the Federal Executive Council, FEC, presided by Acting President Yemi Osinbajo at the Presidential Villa, Abuja “We took a memo ...

“An indigenous integrated oil and gas technical service firm, Baywood Continental Limited (BCL), has invested over $70 million in equipment and operational capacity. Its President  and Chief Executive Officer, Emperor Chris Baywood Ibe, told reporters in Lagos that the 28-year-old company had been positioned  to offer seamless and world-class service to clients this year. He said: “BCL has made massive ...

Minister of Transport, Mr Rotimi Amaechi was commended by the Mission for Rescue of Nigeria Socio-Cultural Environment (MIRENSCE),  for making efforts at transforming Nigeria’s transportation sector. PM News reports that MIRENSCE gave the commendation in Abuja on Wednesday in a statement by its National President, Amb. Sokari Afiesimama. According to PM news, Afiesimama said since his appointment as minister, Amaechi ...

On Wednesday the Nigerian Government  approved the construction of the Cameroon-Nigeria border link bridge. It is part of its efforts to strengthen the bilateral ties between Nigeria and Cameroon. According to Premium Times, the Minister of Power, Works and Housing, Babatunde Fashola, who briefed State House Correspondents shortly after the meeting of the Federal Executive Council, FEC, presided by Acting ...