Real Estate News Daily
NHM brings you the most important real estate stories of the week.
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NATIONAL NEWS
Nigeria’s Federal Executive Council has approved a ₦58.47 trillion 2026 budget, alongside a revised MTEF exchange rate of ₦1,400/$1, signalling a shift toward non-oil revenue and fiscal consolidation.
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 Considers Lagoon Backfilling to Reduce Costs on Lekki Deep Seaport Access Road
The Federal Government is evaluating lagoon backfilling as a cost-effective alternative to a 3km bridge on the Lekki Deep Seaport–Epe–Ijebu-Ode access road, aiming to accelerate delivery of the 50km dual carriageway funded through an EPC+F model with CHEC.
Federal High Court Dismisses Winhomes Claims on Lagos–Calabar Coastal Highway Project
A Federal High Court has dismissed Winhomes Global Services’ lawsuit over the Lagos–Calabar Coastal Highway, confirming the company no longer holds legal interest in the disputed land. Project proceeds on schedule.
Federal Government to Open Lagos–Calabar Coastal Highway Section in December 2025 Amid Legal Clarity
The Federal Government announces the opening of the first 47km of the Lagos–Calabar Coastal Highway between December 12–17, 2025, following a court ruling clarifying Winhomes’ legal claims. The project aims to enhance trade, mobility, and regional economic growth.
Loan Defaults Rise in Nigeria as CBN Flags Increased Pressure on Credit Market
The Central Bank of Nigeria reports a sharp increase in loan defaults across unsecured and corporate lending in Q3 2025, highlighting growing financial stress among households and businesses amid macroeconomic pressures.
FCT Indigenous Groups Demand Compensation Following Kuchibedna Demolitions
Indigenous residents in the FCT call on Minister Nyesom Wike for fair compensation following the demolition of homes in Kuchibedna, citing displacement and threats to cultural heritage.
Lagos Government Intensifies Demolition of Illegal Structures in Ikate Elegushi and Lekki–Ikoyi Corridors
The Lagos State Government has launched a new enforcement wave targeting illegal buildings in Ikate Elegushi and the Lekki–Ikoyi corridor. LASBCA, the House of Assembly, and the Office of Urban Development say the demolitions are necessary to protect public safety
Sanwo-Olu Commissions 233 New Housing Units in Eti-Osa, Expands Lagos’ Affordable Housing Pipeline
Lagos State Governor Babajide Sanwo-Olu has commissioned 233 new housing units in the Abraham Adesanya area of Eti-Osa, expanding the state’s affordable housing stock and reinforcing Lagos’ commitment to public–private partnerships, housing accessibility, and timely project delivery.
Dangiwa Highlights Quantity Surveyors’ Central Role in Nigeria’s Renewed Hope Housing and Infrastructure Agenda
Dangiwa Highlights Quantity Surveyors’ Central Role in Nigeria’s Renewed Hope Housing and Infrastructure Agenda
The Federal Government Unveils Strategy to Reduce Housing Costs Through Regional Building Material Hubs
The Federal Government plans to establish Building Materials Manufacturing Hubs across Nigeria’s six geopolitical zones to reduce construction costs, cut reliance on imports, and expand access to affordable housing under the Renewed Hope Agenda
FCTA to Begin Full Enforcement Against Property Fee Defaulters November 26th
The Federal Capital Territory Administration will start strict enforcement on November 26, targeting property owners who have defaulted on ground rent, land-use charges, conversion fees, and title registration requirements.