Real Estate News

Engineers have urged President Muhammadu Buhari to work towards reducing Nigeria’s dependence on imported products. This, they said, had made the country a consuming nation and dragged down its economy, stressing that Nigeria was still struggling to export finished products. The President, Nigerian Society of Engineers, Maitama District Branch, Abuja, Israel Abraham, observed that most countries of the world that ...

It was learned that Nigeria has donated $300,000 (around 14 million) and housing construction materials for the government’s post-Haiyan rehabilitation effort. Nigerian Ambassador to the Philippnes Buba Tekune turned over to Department of Social Welfare and Development (DSWD) Secretary Corazon Juliano-Soliman, the donations at the DSWD on August 19. Charge d’Affaires Tekune the donations reflect the Nigerian government’s sincere desire ...

Ifeanyi Obua, a graduate of Mechanical Engineering with specialisation (MSc) in Technology of machine manufacturing from Krivoy Rog Technical University, Ukraine, is the CEO of Obua Technology Solutions LTD. Obua mentioned legislation and empowerment of land ownership, use of appropriate technology, training of labour force in the construction industry among others as the solution to Nigeria’s housing deficit. In an ...

No fewer than 50,000 members of 800 co-operative societies have indicated interest in the Social and Co-operative housing programme of the Federal Housing Authority (FHA). Similarly, FHA is working with State governments towards the implementation of a rent-to-own housing scheme, which would convert rents paid by tenants for the eventual ownership of such houses. The Managing Director/Chief Executive of the ...

Ondo state government announced last week that the design for dualisation of Ikare Township road has commenced in earnest, while contractors, recently jump-started a 2.5-kilometers of road within the Igbokoda Township as part of its urban renewal programme. Government officials said necessary earthwork on the Igbokoda Township project has reached advanced stage while the entire work done was about 41per ...

In order to tackle the housing need in Nigeria, Rock of Ages Properties, a subsidiary of Chicason Group suggests that Nigerians should consider making their rent to serve as mortgage.. The Chief Operating Officer of Rock of Ages, Mr. Francis Onwuemena explained, “An average Nigerian worker pays house rent that can actually be converted into mortgage to be able to ...

The chairman of Nigeria’s corruption-fighting Economic and Financial Crimes Commission is appearing before the Senate to answer accusations that he diverted billions of dollars. Ibrahim Lamorde is responding to allegations that he and other commission officers diverted 1 trillion naira (about $15 billion) in recovered assets with the collusion of banks and real estate agents. A commission statement Tuesday said ...

Reports have revealed how Nigeria’s Millennium Development Goals (MDG) used a shocking amount of  N154.2 million to construct a single borehole in Abuja. According to Premium Times, the MDG spent a whooping N154.2 million on drilling just a single borehole which one can averagely do for N1.5 million in Abuja. A hydrology firm who talked to Premium Times made it known that that ...

Barely two weeks after Cross River State Governor, Senator Ben Ayade, led a trade delegation to the Repub­lic of Ireland, property devel­opers from that country have arrived Calabar to concretise a partnership deal to build about 5,000 modular homes. Already, modalities have been worked out between the Cross River State government and an Irish building firm, Affordable Building Concept International, ...

Nigeria’s property market is being impacted by the government’s anti-graft laws. With the introduction of President Muhammadu Buhari’s administration there has been a massive offload of properties, especially in the high-end market. According to Nigerian reports, the Independent Corrupt Practices and Other Related Offences Commission has reportedly confiscated some buildings said to have been owned by public servants whose earnings do ...