The Lagos State Government is turning up the heat on illegal rental charges. In a recent announcement, authorities declared that fees such as caution fees and inspection charges are unlawful, as part of broader efforts to make housing more affordable. While the intention is commendable after all, housing costs are a real challenge for many Lagosians, the decision to outlaw caution...
The U.S. administration's decision to increase tariffs on Nigerian goods from 10% to 14% sent shock waves through various sectors of Nigeria's economy, including real estate development. These tariffs directly target trade but their indirect consequences are being felt even in Nigeria's property market, and especially among developers who rely heavily on diaspora investments and imported...
When the Tax Reform Bill becomes law, real estate transactions will be exempted from Value Added Tax (VAT), Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms, has assured. Oyedele explained that the exemption will lower the cost of building materials and housing. “The bill is designed in a way to favour low-income earners and, contrary to what is being claimed, it will also...
Across Nigeria, and particularly in high-demand markets like Lagos and Abuja, estate agents are facing pressure from homeowners, from competition, and from themselves. And in the race to impress and secure instructions, some agents are giving in to temptation of inflating property prices to please sellers. But here’s the uncomfortable truth: Overvaluation isn’t a strategy. It’s a...
The Federal Government is set to begin the construction of 100 housing units in each of the country’s 774 local government areas, in a push to tackle Nigeria’s housing deficit and extend affordable housing to underserved communities. This project, driven by the Renewed Hope Social Housing Programme, forms part of President Bola Tinubu’s broader initiative to provide decent and inclusive housing...
The Lagos State Government has reiterated its commitment to enforcing a flexible rent payment structure, allowing tenants to pay monthly, quarterly, or annually, capped at a maximum of one year. This was made known in a joint statement by the Commissioner for Housing, Mr Moruf Akinderu‐Fatai, and the Special Adviser to the Governor on Housing, Mrs Barakat Odunuga‐Bakare, following a consultative...
At first glance, real estate seems like a physical business concrete, fences, roofing sheets. But step into the mind of a serious investor, and you’ll realize: real estate is 80% mindset, 20% property. Because in this game, it’s not just about what you buy. It’s about how you think before you buy. That’s what separates a landlord from a legacy builder. So, what really...
The Vice President, Kashim Shettima, says the 48-year-old Land Use Act is due for review and reform. Shettima, represented by the Deputy Chief of Staff to the President, Ibrahim Hadejia, made this known at a recent three-day National Land Conference 2025 in Abuja. The Vice President said the Land Use Act of 1978 had been the legal and policy framework for land ownership, management, and...
President Bola Ahmed Tinubu has signed into law the Investment and Securities Act (ISA) 2025, marking a major milestone in Nigeria’s capital market reform. The new legislation, which repeals the former Investments and Securities Act No. 29 of 2007, is aimed at strengthening the legal and regulatory framework for investments and capital market activities in the country. The Securities and Exchange...
Buying a home isn’t just about numbers and location, it’s about feelings, perceptions, and subconscious decisions. Have you ever walked into a house and immediately felt at home? Or, on the flip side, rejected a property for reasons you couldn’t quite explain? That’s psychology at work. At Babajide Okusaga & Co., we don’t just help you find properties, we help you understand...