Real Estate News

The Council of Registered Builders of Nigeria has asked the National Assembly to pass the bill for the enforcement of the Nigerian National Building Code, and they want it done urgently. CORBON, in a statement signed by its Chairman, Prof. Kabir Bala, said the loss of lives through building collapse had become a national embarrassment due to failure of infrastructure, ...

Director General of the Standards Organisation of Nigeria (SON), Dr. Joseph Odumodu, last weekend disclosed that only five per cent of blocks sold in Nigeria are molded to specifications of the standard, hence leading to building collapses in the country. Odumodu stated this at a national stakeholders’ forum on blocks and allied products with the theme: “Safeguarding lives through compliance ...

An indication that Nigerians are in dire need of affordable and live-able homes in any part of the country emerged last week as a total of 66,402 applicants are seeking slots in the 10,000 homes to be constructed by the Federal Government under the Mortgage Refinancing Scheme pilot project. The Federal Government launched the scheme early this year to create ...

Eager to reposition the housing industry and increase activities in the sector, the Ministry of Lands, Housing and Urban Development may soon begin the implementation of its report on Land Verification, the 10,000 houses project and housing Survey. The Minister in Charge of the ministry, Mrs. Eyakenyi Akon last week received interim report of the three ministerial committees that was ...

The Minister of the Federal Capital Territory Administration, FCTA, Senator Bala Mohammed has disclosed that with the successful implementation of the on-going Abuja Land Swap Initiative, over N3.2 trillion secondary investment is expected to be generated for the Federal Capital Territory. Speaking while receiving the National Executive Committee of the Nigerian Society of Engineers (NSE), led by its President, Ademola ...

Convinced of the positive impacts the urban renewal scheme would have on the state and her residents on one hand, and the entire real estate industry, the Lagos State Government has expressed its determination to ensure its central Island and environs are fully regenerated. Senior officials of the government spoke at the commencement of a two high-rise residential projects within ...

Members of the Nigerian Institute of Building (NIOB) have reiterated its call to the Federal authority to promulgate a law to enforce the National Building Code. NIOB in a communiqué after its 44th Annual General Meeting/Conference at the Bovina View International Hotel, Ilorin, Kwara State, recently said professionals in the building industry should put social, environmental and economic sustainability of ...

A new rapprochement is already evolving between the Federal Mortgage Bank of Nigeria and the Industrial/Commercial Bank of China, as the latter has promised to bring in funds in form of Foreign Direct Investment to assist the FMBN FMBN in addressing the nation’s housing deficit. Recently, the Federal Government had said it had commenced discussion with China Export and Credit ...

Minister of the Federal Capital Territory Administration, FCTA, Senator Bala Mohammed disclosed at the weekend that the FCT accounts for 10 per cent of the 17 million housing deficit in Nigeria. The minister disclosed this while commissioning a 49-unit luxury apartments christened “AICL Apo- Dutse Housing Estate”. According to him: “From statistics, the housing deficit in Nigeria is about 17 ...

The framework for conducting a National Housing Survey to establish and determine the housing deficit in the country has been developed by the Federal Government, the Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, has said. She said the survey would determine the actual number of houses needed across the country instead of depending on estimates and unproven ...