The Lagos State Government has announced that it will begin full enforcement against illegal land reclamation and waterfront encroachment from Wednesday, October 15, following the expiration of a seven-day grace period granted to violators.The enforcement, led by the Ministry of the Environment and Water Resources, was confirmed in a statement issued by Commissioner Tokunbo Wahab. Wahab said the move...
The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s benchmark interest rate to 27.00 per cent, the first cut in 2025 after three consecutive pauses, signaling a shift in policy towards supporting economic recovery.While welcoming the move, members of the Organised Private Sector argued that the reduction remains marginal and insufficient to ease the credit squeeze on...
The Federal Government has secured 200 hectares of land within the Lekki Free Trade Zone, Lagos, to establish a building materials hub aimed at reducing housing production costs nationwide. Minister of Housing and Urban Development, Mr. Ahmed Dangiwa, disclosed this on Thursday during a tour of industrial areas within the Lekki and Lagos Free Zones, which form part of the larger Lekki Free Trade Zone...
The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has hinted that lending rates may decline in the coming months as inflation continues to ease, raising hopes for improved access to credit and stronger investment flows. Cardoso gave the indication at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, according to a statement by the CBN on Sunday. He...
Professionals in the real estate sector have urged the Lagos State House of Assembly to amend some provisions in the proposed Tenancy and Recovery of Premises Bill.The call was made by representatives of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), Nigerian Institution of Estate Surveyors and Valuers (NIESV), Association of Estate Agents of Nigeria (AEAN), Lagos chapter, Real...
The ongoing construction of 2000 housing units Renewed Hope City at Ibeju Lekki, Lagos has reached 80 per cent completion and will be ready for Presidential inauguration soon. This was disclosed by Housing and Urban Development Minister, Arc. Ahmed Musa Dangiwa during an inspection visit to the site, Thursday August 28th, 2025. Dangiwa stated "the Ibeju Lekki Renewed Hope City project is 80 per cent...
If you have been working for some time, you probably have accumulated some form of savings, and the first mistake you don't want to make is to let the money stay idle. There are many ways to work your money hard, and one highly recommended approach is through Real Estate Investment. TOP 4 Reasons to choose Real Estate Investment? 1) Good choice of property can appreciate in value...
The Federal Ministry of Housing and Urban Development is exploring partnership opportunities with the Kuwait Fund for Arab Economic Development, focusing on infrastructure development to support affordable housing and sustainable urban growth in Nigeria. This was disclosed in a statement signed by the Ministry’s Director of Press and Public Relations, Badamasi Haiba.At a recent meeting between the...
Whether you are BRAND NEW to real estate investing or an expert, it’s critical that you understand these 7 Simple Steps to real estate investing. First things first… • Real Estate is NOT a get rich quick scheme. However, if you learn the foundations and put them into practice, you will make more than enough money to realize any and all of your dreams and goals. • The real...
The Federal Government says about N3.8 trillion will be required to rehabilitate the Third Mainland Bridge in Lagos following the discovery of severe underwater structural damage. David Umahi, Minister of Works, disclosed this on Wednesday while briefing State House correspondents after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu in Abuja. According to Umahi,...