Real Estate News

The Lagos State Government has commenced the demolition of marked buildings on Freeman Street at the Ita Faji area of Lagos Island. This follows the collapse of a three-storey building on Massey Street in the same area on Wednesday, killing school children and some other occupants of the building, while many others were left injured. During an assessment tour of ...

Recent statistics have shown that the Nigerian real estate sector has been suffering setbacks. Out of the ₦15 trillion worth of credit facilities (bank loans) that were given to the private sector in Q4 2018, real estate only got ₦622 billion. This represents just 4% of the total loans/credit. A quick analysis of the 2018 selected banking sector indicators’ report, ...

No fewer than 18 persons died and 41 injured yesterday when a four-storey building collapsed on Lagos Island. Forty-one others were injured. The incident occurred at No 14, Massey Street, Opposite Oja, Ita-Faaji. The building, housing Ohen Private Nursery and Primary School on its third floor, caved in at about 10:20 A.M, trapping scores of pupils. Lagos State Commissioner for ...

Movement for the Actualisation of the Sovereign State of Biafra, MASSOB, said it has commenced the construction of a Biafran University in Anambra state. Ralph Uwazuruike-led group, otherwise called Biafran Independent Movement, BIM, said the university known as Dim Chukwuemeka Odumegwu Ojukwu Standard University is located at Anaku, Ayamelum local government area of the state. Anambra North Zonal Leader of ...

Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Architect Ahmed Musa Dangiwa, has said the bank has in two years, made a refund of over N15 billion to contributors of the National Housing Fund (NHF) who retired or resigned. Arc. Dangiwa said this when officials from Media Trust Limited, publishers of the Daily Trust and other titles, led by ...

The Road Transport Employers Association of Nigeria (RTEAN) on Tuesday called on the Lagos State Governor-elect, Mr. Babajide Sanwo-Olu, to fix both the federal and state roads for free flow of traffic when he assumes office. The Chairman of RTEAN, Lagos chapter, Alhaji Mohammed Musa, made the appeal in an interview while setting agenda for Sanwo-Olu Musa urged Sanwo-Olu to ...

The Independent Corrupt Practices and other related offences Commission (ICPC) has moved to seize plots of land and duplexes worth over N264 million from three staff of the Ministry of Niger Delta Affairs. ICPCs Spokesperson, Mrs. Rasheedat Okoduwa, in a statement in Abuja on Wednesday, said that the trio were civil servants from the Ministry of Niger Delta Affairs. The ...

Erinoluwa Akinmoladun, the son of the house owner said the collapsed building was under the management of a developer. He said his father owned the collapsed building but had handed it over to a developer, who he identified as Mr Giwa. READ ALSO: Dealing with the challenges of a real estate developer Akinmoladun revealed that the construction of the building ...

A Lagos Division of the Federal High Court has fixed May 6 to deliver judgment on a suit filed by human rights lawyer, Femi Falana, against the Minister of Works, Power and Housing, Babatunde Fashola and the Federal Road Safety Commission (FRSC) to remove trucks from Lagos roads Muslim Hassan, the judge, fixed the date on Monday after parties in ...

As a way of celebrating and encouraging the womenfolk, professionals in the built industry have indicated that contemporary female engineers have defiled the old myth that construction work is not meant for women. According to Kunle Awobodu, CEO, Reo-Habilis Construction Ltd and vice president, Nigeria Institute of Building (NIoB), though subtle gender discrimination still exists in the construction industry, especially ...