Real Estate

Despite the poor performance of the real estate industry and the lull in the property market in recent times, stakeholders are optimistic about a positive growth this year. The Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, Dr. Yemi Kale, said although the real estate industry, which contributed 6.79 per cent to real Gross Domestic Product, ...

Construction practices in a developing country like Nigeria differ significantly in important aspects from practices in industrialized or developed countries. In Nigeria, the greatest challenge facing professionals in the field is that the practice of construction is not uniform. It varies with the client, size or complexity of the project from the perspective of the owners. This article sheds more ...

Africa’s richest man Aliko Dangote lamented that check points mounted by Customs, Navy and other agencies were causing traffic gridlock, making life unbearable for motorists. Dangote said this on Wednesday as he appealed to the Buhari government to withdraw Nigeria Customs and the Nigerian Navy from the Ijora-Apapa Wharf road in Lagos to reduce traffic gridlock. “We are going to ...

For the country to attain housing sufficiency, there is the need for the construction of affordable houses and access to adequate funding that will make cheaper mortgages possible. This is because affordability is critical in the quest of citizens to own personal homes with mortgage market. The difficulty in housing affordability, which boils down to financial capacity, has been further ...

Lagos State has enacted a new Land Use Charge Law In 2001, the Lagos State government passed the Land Use Charge Law which consolidated and replaced all the state and local government taxes payable on property in Lagos State. On 28 January 2018, the Lagos State House of Assembly passed the Land Use Charge Law 2018 to repeal and replace ...

The Federal Road Safety Commission (FRSC) in Niger said on Wednesday that five people were killed in an accident on Bida-Sabon Gida-Minna Road. FRSC Sector Commander, Yusuf Garba, disclosed this in an interview with the News Agency of Nigeria (NAN) in Minna. He said 19 persons, who were critically injured in the accident, were receiving treatment at the Bida General ...

Minister of Transportation, Rotimi Amaechi, has explained why the Lagos-Ibadan-railway project has not been completed. He revealed that the relocation of the oil and gas, water and sewage pipes on the road was responsible for the delay. Amaechi disclosed this in Ibadan, at the monthly meeting of the Lagos-Ibadan-Railway line Project Steering Committee. He said the Federal Government was carefully ...

A couple, Ademola Kafaru and Mojisola, who allegedly defrauded their landlady of N490, 000, were on Wednesday released on a N20, 000 bail each, an Ogudu Magistrates’ Court ruled in Lagos on Wednesday. The Magistrate, Mrs O. Sule-Amza, who gave the ruling, also ordered them to produce two sureties who must show evidence of gainful employment. The couple who lives ...

Low tax revenues, huge obligatory spending and higher local currency debt amounting to 350 per cent have been adduced among reasons Nigeria has low investment in infrastructure development. Decrying the situation, renowned Chartered Accountant and current Chairman of the Lagos State Economic Advisory Committee Mr. Bode Agusto, pointed out that years ended 2016, Nigeria only invested 2.1 per cent of ...

Lagos   –    Mortgage Banking Association of Nigeria (MBAN) on Wednesday expressed readiness to surmount the bottlenecks associated with land title processes through the introduction of “Formula 131’’. The MBAN’s President, Mr Adeniyi Akinlusi, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos. He said that formula 131 stipulates that the cost of obtaining land ...