Real Estate

A construction company, Sammya Nig. Ltd., has described the sealing off, of its dockyard by the Osun State Internal Revenue Task Force, as ’embarrassing’. The company in a release signed by its Chairman /CEO, Sammy Adigun, called on the state government to immediately unseal its office and pay up over N1 billion owed it. The state government had listed the ...

Dangote Cement Plc and Lafarge Africa Plc are said to be looking up to investors to help raise capital that will enable the companies to take advantage of proposed infrastructural budgets in Sub-Saharan African countries, including Nigeria. This, they hope, will ensure growth in the sector and overall economic development. Recall that the Nigerian Government had earlier this month passed ...

The Lagos State Employment Trust Fund (LSETF) has entered into partnership with Jobberman and American Towers Corporation (ATC), to empower unemployed youths in Lagos State. ATC is one of Nigeria’s leading independent owner, operator and developer of wireless broadcast communication, as well as real estate firm. According to LSETF, the collaboration is in line with its mandate of bridging the ...

The recent reforms put in place by the Lagos State government in the Land Bureau, the department in charge of land administration in the state, have not only improved the needed services but also continue to enhance ease of doing business, in all ramifications. Speaking on the efforts by government to simplify ease of doing business, as exemplified in land ...

The MTN Employees Cooperative Society, through its prosecution witness, Cyril Ilok, has sued two of its former staff; Primavera Engineering and Construction Limited and Mabo Dredging Limited; for allegedly defrauding them of some hectares of land, purportedly meant for the development of Yellow Estate Project, Okun Ajah, Lagos. The defendants in the case include: Victor Akintunde, Gani Mustapha, Mutairu Babatunde, ...

The Managing Director of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, has commended the directive of the Central Bank of Nigeria (CBN) compelling commercial banks to lend the real sector for economic growth. Kuru stated this at the Institute of Directors (IoD) 2018 luncheon held in Lagos. The Managing Director of AMCON also noted that lending to the ...

Nigerian building developers have come together to discuss the pathway for a greener Nigeria through the construction industry. Financial institution and mortgage re-finance provider NMRC has pledged to be a leader in pioneering the implementation of EDGE certification in the construction industry. NMRC and the International Finance Corporation (IFC), a member of the World Bank Group, along with the consortium ...

The Governor of Jigawa State, Abubakar Badaru, on Monday recalled that when he was inaugurated in 2015, he received a voluminous document detailing huge debts and uncompleted capital projects worth N31.3 billion in the state. “The first day I went through the handover note submitted to me by the then PDP administration, I felt like running away because of the ...

Stanbic IBTC Pension Managers Ltd. (SIPML) says the company’s Assets Under Management (AUM) presently stands at N2.53 trillion with N350 billion invested in the equities market. Eric Fajemisin, SIPML Chief Executive Officer, stated this at a media conference in Lagos. He said that the company’s AUM was in excess of N2.53 trillion with over 1.6 million retirement savings accounts across ...

Earlier this month, President Muhammadu Buhari approved the establishment of a Presidential Infrastructure Development Fund (PIDF) with seed funding of $650m from the Nigeria Liquefied Natural Gas (NLNG) Dividend Account as approved by the National Economic Council (NEC). The fund will be managed by the Nigeria Sovereign Investment Authority (NSIA) and invested specifically in critical road and power projects across ...