Tag Archives: Nigeria

The 3rd Nigeria Affordable Housing Finance & Innovation Summit & Expo (NAHFIS) is set to take place on the 13-14 November 2019 at NAF Conference Centre, Abuja. The Theme of the 2019 Summit is “Innovative Solution for Large Scale Delivery of Affordable Housing” with Sub Theme: “Delivering Affordable Housing Through Cooperatives.” The Summit will explore financial, technological and cooperative innovation ...

In the real estate industry, Nigeria is experiencing rapid urbanization, with an estimated annual national population growth rate of just over 2% and an annual urban population growth rate of about 4%. The population is becoming more and more focused to the urban areas, towns and cities with just under 50% of the population living in urban areas — and ...

Nigeria lacks clean windows to access International Property Funds says Principal, World Citizen Consulting, Bill Endsley. Endsley stated this at the 2-day event organised by FIABCI International Real Estate Consultant (FIREC) program held in Lagos recently. This year’s FIABCI training on International Norms for Real Estate Investment is tagged Negotiation and multi-stakeholder dialogue, he said. He stated that the idea ...

The report said, “The real estate sector performance has remained lacklustre since 2016 and has recorded a positive GDP growth just once in the past 15 quarters.”  Analysis by CSL research has shown that the housing industry in Nigeria grew once since 2016. Using data from the Central Bank of Nigeria, the financial analysis firm discovered that loans granted to ...

Economic activity in Nigeria’s economy slowed down in the second quarter of the year. Data from the National Bureau of Statistics (NBS) revealed that the country’s GDP slowed to 1.94% y/y from a revised growth rate of 2.10% y/y in Q1 2019.  On a half-year basis, real growth in H1 2019 stood at 2.02% y/y, higher than 1.69% for H1 2018. ...

The Federal High Court on Monday set aside an interim order for the forfeiture of the properties of Peter Nwaoboshi to the Nigerian government. The judge, Taiwo Taiwo, in his ruling on Monday overruled the earlier order by the same court because “due process of law” had not been followed. The court had made an initial order for the confiscation of 14 ...

The Court of Appeal, Lagos Division has nullified the Certificate of Occupancy (C of O) given by the Federal Government to Sunnyvale Nigeria Limited in respect of a parcel of land situated at Plot 25, Block 6, Ikoyi Foreshore, Lagos. The appellate court, in a lead judgment by Justice Ugochukwu Ogakwu, on March 6, 2019, restrained Sunnyvale Nigeria Limited, its ...

A Federal High Court in Lagos on Monday struck out a fundamental rights enforcement suit filed by alleged kidnap kingpin, Chukwudumeme Onwamadike (a.k.a Evans), against the police over the seizure of his property. Mojisola Olatoregun, the justice, held that the court lacked the jurisdiction to entertain the case. She said that the suit ought to have been filed before a ...

Despite a subsisting order to reinstate Mr. Emmanuel Osita Okoli, placed on the International Real Estate Federation, FIABCI-Nigeria Chapter by a High Court in Nigeria, the professional body has continued to disobey the court order. The order being disobeyed by FIABCI-Nigeria Chapter is the one made by the High Court in Ikeja directing the realtor body to reverse its expulsion ...

The troubling question in the minds of most thoughtful real estate agents in Nigeria recently has been whether the continuous rise and use of technology in the sector take jobs out of their mouths. We are in the year 2018, and it seems the need for real live people is ever-diminishing. At malls now, there are self-checkouts instead of cashiers, ...