This week in Real Estate
NHM brings you the most important real estate stories of the week.
Latest News
NATIONAL NEWS
President Bola Tinubu, represented by Minister Ahmed Dangiwa, reaffirms the Federal Government’s commitment to housing delivery and urban planning reforms at the NITP conference.
LAGOS
Tension has risen in Oworonshoki, Lagos, following the demolition of more than 70 houses at Ajileru, Ososa Extension, and Toluwalase Streets an action that occurred despite an active court injunction restraining the state government from proceeding with demolitions in the area.
ABUJA
Minister Nyesom Wike announces that by 2027, every FCT High Court judge will have official housing, marking a new phase in Nigeria’s judicial welfare and infrastructure reform.
World News
All News
Nigeria’s Economy Expands 4.23% in Q2 2025, Beating Last Year’s Growth
Nigeria’s GDP grew 4.23% in Q2 2025, up from 3.48% last year, with real estate and non-oil sectors driving growth as CBN projects 4.17% for 2025.
World Bank projects Nigeria’s economy to grow by 3.5% in 2025, 3.7% in 2026
The World Bank projects Nigeria's economy to grow by 3.5% in 2025 and 3.7% in 2026, driven by strong performance in the services sector and gradual improvements in macroeconomic stability. Growth in 2024 was estimated at 3.3%, primarily fueled by financial and telecommunication services, alongside fiscal reforms that boosted business confidence.
Looking ahead, declining inflation and increased consumer spending are expected to support economic recovery, with the services sector remaining a key growth driver. However, challenges such as inflationary pressures, a weak naira, and underperforming oil production continue to pose risks to sustained progress, according to the World Bank's Global Economic Prospects report.