Real Estate News From Around Nigeria

Latest breaking housing and real estate news from major newspapers and reliable blogs from across Nigeria. 

Housing development can generate 12m jobs annually —FMBN 

The development of 720,000 housing units required annually to bridge the national housing deficit of about 17 million units can potentially generate 12 million jobs in the country every year.

Read more on Vanguard Nigeria...

FG reiterates commitment to affordable housing

Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, has reiterated the commitment of the federal government to the provision of affordable housing in the country.

She gave the commendation at the commissioning of the 102 units ministerial pilot housing scheme in Suleja Niger State, which was fully funded by the Federal Mortgage Bank of Nigeria (FMBN).

- See more at: Vanguard News

Azuri Peninsula’s apartments brighten real estate market 

PRIVATE developers have increased their stakes in the Lagos real estate market with a series of significant investments, notably is the first phase of prestigious Azuri Peninsula, which upon completion would house 120 families.

The project, designed by Eko Development Company Limited as luxury apartments, 12 super-luxury simplexes and two Villas as well as seven townhouse apartments, make up the first phase, with a three-year completion plan.

See More at Guardian Newspapers

Real estate firm unveils N500 million cluster housing projects

Lagos-based real estate and investment company, Messrs Propertygate Development and Investment Plc, has commenced the construction of three housing projects simultaneously in three clusters within a private gated estate along the Lekki Peninsula corridor in Lagos. The projects are part of the company’s efforts to bridge the increasing housing shortfall in the country as well as expand housing market for enhanced contribution to Nigeria’s Gross Domestic Product.

Read more at Vanguard Newspapers

Real estate not well regulated in Nigeria – Meckson Innocent Okoro

Whoever cares to know about real estate business in Nigeria must make sure attempt to be under the tutelage and mentorship of Meckson Innocent Okoro, who appears to know it all due to his wealth of expe­rience in the profession, deep under­standing of what he calls “global best practices in the real estate business” and his strict management of clientele.

Speaking to Sunday Sun, Okoro re­veals his achievements in Nigeria, while giving only a glimpse of why he is at present caught dabbling to politics.

see more at Sun Newspapers

Fashola names housing estate after Enahoro 

Governor Babatunde Fashola of Lagos State Friday inaugurated the Sogunro housing Estate, Ogba, naming it after late nationalist, Chief Anthony Enahoro. 

Fashola, while addressing the congregation at the premises of the 240 housing units, lamented that the housing deficit in the country forced the state government to embark on the Lagos Home Ownership Mortgage Scheme, Lagos HOMS, aimed at addresses the shortfall. 

Read more at Vanguard Newspaper

Govt proposes new road infrastructure system 

IN the wake of increasing dilapidation of roads, maintenance backlog and accelerating loss of asset value, the federal authorities have concluded plans to establish a Road Asset Management System (RAMS) for its road network in the country.

The envisioned system will assist the Federal Ministry of Works (FMW) to rationalize decision making in planning, programming, funding, and procurement and in the allocation of resources in road sector to make the best use of public funds in preserve the road networks at an acceptable level of serviceability. 

Read more at Guardian Newspaper

“Only mortgages can bridge housing deficit” – Fashola

Lagos State Governor, Mr. Babatunde Fashola, said home ownership through mortgage was the only effective way to bridge housing deficit in the country. Fashola spoke at the inauguration of Chois Estate, a housing estate in Lekki area of the state.

The 420-unit estate of bungalows and duplexes was delivered by the state government in partnership with a property development company, First Communities Limited.

- See more at: Vanguard News