Real Estate News Daily
NHM brings you the most important real estate stories of the week.
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The Federal Government seeks National Assembly approval for a combined ₦43.56 trillion 2024–2025 budget to address revenue shortfalls and fiscal complexity, raising questions over the timing and implementation of the 2026 budget.
LAGOS
ABUJA
The FCT Administration unveils housing initiatives for judicial officers, enhancing accommodation, court infrastructure, and judicial efficiency in Abuja.
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FG Spends ₦15 Billion on Waste Excavation and Design Changes for Lagos Coastal Highway
The Federal Government has confirmed that it spent ₦15 billion addressing waste excavation and road design modifications on the Lagos section of the Lagos–Calabar Coastal Highway.
Stakeholders Urge Accountability for Complicit Officials in Nigeria’s Demolition Crisis
Housing experts call for accountability in Nigeria’s demolition crisis, urging punishment for complicit government officials and reforms to end systemic corruption in the housing approval process.
CBN Rate Cut Signals Relief for Economy, Real Estate Sector Eyes Opportunity
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.
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.
Mortgage Rates at 27% Push Homeownership Beyond Reach for Middle-Income Nigerians
The Chief Executive Officer of the Mortgage Banking Association of Nigeria (MBAN), Adedeji Ajadi, has warned that Nigerians earning below ₦500,000 monthly are effectively priced out of homeownership as mortgage rates climb to between 18 and 27 percent.
FG Warns Abuja–Lokoja Highway Contractor Over ₦56 Billion Project Delays
The Federal Government has cautioned the contractor handling the ₦56 billion reconstruction of a 53-kilometre section of the Abuja–Lokoja highway, warning that the contract may be revoked if progress is not significantly improved by November.
Nigerians Raise Concerns Over Rising Wave of Demolitions
Property owners across several Nigerian cities are voicing alarm over widespread demolitions that have displaced residents, shuttered businesses, and raised legal and policy questions about land governance in the country.
Benue State Launches 1,080-Unit Eco-City Housing Estate in Makurdi
The Benue State Government has launched the construction of a 1,080-unit housing estate in Makurdi, a project designed to reduce the city’s housing deficit and provide more affordable accommodation options.
Nigeria to Build Africa’s First Underwater Tunnel Linking Lagos, Calabar, Sokoto, and Badagry Highways
The Federal Government has unveiled plans to construct a 2.9-kilometre underwater tunnel in Lagos, a project that would mark the first of its kind in Africa.
CBN Signals Possible Rate Cuts as Inflation Shows Signs of Easing
The Central Bank of Nigeria (CBN) has indicated that lower interest rates may be on the horizon as inflationary pressures begin to moderate, raising prospects for cheaper credit and renewed private sector investment.