The ECOWAS Bank for Investment and Development has announced approval of $100m in funding for the construction of a 47.7km stretch of the Lagos-Calabar Coastal Highway. This is a major boost to the Federal Government’s quest to deliver the 700km Lagos-Calabar coastal highway by 2028. The 47.7km segment, designated as Section 1, Phase 1 of the project, starts from Ahmadu Bello Way in Lagos....
The Lagos State Government has launched the Lagos Identity Project, a digital house-numbering initiative aimed at enhancing property identification and service delivery across the state. The Special Adviser to Governor Sanwo-Olu on Enterprise Geographic Information System, Dr Olajide Babajide, said the initiative would significantly improve property identification and public service efficiency.He made...
If you’ve been following recent economic reforms in Nigeria, you’ve probably heard about the new tax laws being proposed under the Presidential Fiscal Policy and Tax Reform Committee. But what does all of that mean for the real estate industry? As a developer, investor, Real estate consultant, or house-hunter, these new rules could reshape how you build, buy, and sell property...
President Bola Tinubu has approved a new policy authorising the Infrastructure Concession Regulatory Commission (ICRC) to independently approve Public-Private Partnership (PPP) projects below N20 billion—removing the need for Federal Executive Council (FEC) clearance in such cases.Under the directive, ministries can now approve PPPs under N20 billion, while agencies and parastatals can handle those...
The Lagos State Government has announced the immediate suspension of planning approvals along the Lagos-Calabar Coastal Road. The announcement was contained in a statement by the Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Olumide in Alausa on Monday.Olumide said that the suspension of planning approvals along the Lagos-Calabar Coastal Road was necessary to address the...
The Federal Government of Nigeria has called for deeper collaboration with the United Nations Human Settlements Programme (UN-Habitat) as it prepares to implement the newly approved National Urban Development Policy. According to a statement signed by the ministry, “Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has called for deeper collaboration and implementation support from...
In a landmark decision that underscores the Federal Government’s commitment to sustainable urbanisation, the Federal Executive Council (FEC) has approved the revised National Urban Development Policy (NUDP). The Policy provides a transformative framework to guide urban planning, development, and governance across Nigeria, over the next decade. The revised policy, developed by the Federal Ministry of...
The Federal Ministry of Housing and Urban Development will collaborate with the German Development Cooperation to pilot a Green Mortgage Scheme in Nigeria. This was revealed by the Minister of Housing, Ahmed Dangiwa, during a meeting with GIZ officials in Abuja recently.“We see strong potential to adapt a similar green mortgage model within the Federal Mortgage Bank of Nigeria under the National Housing...
Hearing terms like “economic downturn,” “inflation,” and “currency depreciation” can send a chill down the spine of even the most experienced investor. And if you’re just starting out or considering a big move like real estate investment, it’s only natural to ask: Is real estate still a safe bet when the economy seems anything but stable? Well, let’s break it down...
The Lagos State Government has revealed that the administration of Governor Babajide Sanwo-Olu will deliver a total of 14,022 home units to Lagosians upon completion.The Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, disclosed this recently at the ministerial press briefing marking Governor Babajide Sanwo-Olu’s second year in office. “The administration in June 2024 delivered and...