Tag Archives: Nigeria

It’s another Wednesday, and the struggle continues for Oga Martins just as it continues for most of us. He is under a tough condition on his first day at work; he must seal a deal or lose his job. As you read this episode, you will be required to share your views in the comment section. Tell us what you ...

The Vice President of the Nigeria Labour Congress, NLC, Issa Aremu on Monday assured aggrieved workers who subscribed to a failed NLC housing scheme, that their monies would be refunded with interest and an apology. Aremu said this while on Sunrise Daily on Channels Television, noting that the NLC had the responsibility to do so and also prosecute those culpable ...

Every city or country requires structural planning. This is to enable the government strategize appropriately and effectively with the purpose of meeting the social, economic and environmental needs of the citizens. In Nigeria, the Nigerian Institute of Town Planners (NITP) is the leading body tasked with the responsibility of improving the art and science of planning. It is responsible for ...

The Federal Government recently re-appointed Mr. Gimba Yaú Kumo as Managing Director of Federal Mortgage Bank of Nigeria (FMBN) for a second tenure of four years. In this interview from Vanguard news, he assesses the mortgage industry in Nigeria and the plan to recapitalize FMBN for better performance. Below are excerpts of the interview. How would you describe the mortgage ...

The housing deficit in Nigeria, estimated at 17 million units has created immense opportunities in the country’s real estate sector, making it a preferred destination for local and foreign investors. The middle to the lower-middle class market alone needs about four million housing units, representing about 20-25 percent of the deficit and Richard Nyong, CEO of Lekki Gardens Limited, estimates ...

The recent drop in global crude oil price and the persistent efforts of the Federal Government of Nigeria to diversify her economy and move away from overreliance on the oil and gas sector have made Nigeria a fertile ground for investments. In spite of the attempts of both Government and indigenous companies, the telecommunication, energy, tourism and hospitality, agriculture, security, ...

The Federal Government of Nigeria is working to raise the share capital of the Federal Mortgage Bank of Nigeria (FMBN) to N250 billion within the next few months in order to enable it tackle the country’s housing deficit, according to its Managing Director, Gimba Ya’u Kumo. Ya’u Kumo who spoke at a send forth/ welcome dinner organised by the bank ...

After a keen competition to get world-class architectural design for its proposed real estate project, the UACN Property Development Company Plc (UPDC) has eventually selected two firms for its ‘One Prime’ project, to be located within the neighbourhood of Ikoyi, Lagos State. The selection of the duo, James Cubitt and Design Group, emerged after the developer recently organised a pitch ...

As a way to effectively handle the current huge housing deficit in the country, the government is collaborating with the private sector through reputable agencies and associations. One of such is the Real Estate Developer’s Association of Nigeria (NIGERIA), an agency tasked principally with the responsibility of facilitating the delivery of affordable mass housing in the country. The association has ...

Reducing housing deficits requires a number of essential ingredients to be in place to ensure a well-functioning housing finance system. This means achieving macroeconomic stability, effective legal and regulatory infrastructure, and ensuring appropriate levels of government intervention and support. In Nigeria with its underdeveloped housing finance systems or systems that only provide access to finance for high-income households, forcing low-income ...