This week in Real Estate
NHM brings you the most important real estate stories of the week.
Latest News
NATIONAL NEWS
The Central Bank of Nigeria (CBN) has cut its benchmark interest rate by 50 basis points to 27%, marking its first rate cut of 2025. The move aims to ease inflation, stimulate growth, and unlock opportunities for Nigeria’s housing and real estate sector, from more affordable mortgages to improved financing for developers.
LAGOS
The Federal Airports Authority of Nigeria (FAAN) is facing renewed legal pressure from AIC Limited, the company founded by the late business magnate Harry Akande, over disputed land within the ongoing ₦712 billion expansion of Lagos’ Murtala Muhammed International Airport.
ABUJA
The River Park Estate issue highlights recurring challenges in Abuja’s land administration, including expired lease agreements, irregular development approvals, and disputes between government and private developers. For investors and policymakers, the case underscores the importance of due diligence, compliance with regulatory processes, and the need for ongoing reforms in land governance to reduce uncertainty in Nigeria’s capital city real estate market.
World News
All News
Ibadan Airport Back in Service with First Flight After Major Upgrade
The Ladoke Akintola Airport in Ibadan has reopened after six months of upgrades, welcoming its first flight ahead of President Bola Tinubu’s visit for the Olubadan coronation. The modernization is expected to boost regional air travel and support Oyo State’s economic growth.