This week in Real Estate
NHM brings you the most important real estate stories of the week.
Latest News
NATIONAL NEWS
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.
LAGOS
At the recent Real Estate Stakeholders Conference in Lagos, Timothy Nubi, professor and director at the Centre for Housing and Sustainable Development, University of Lagos, highlighted the urgent need for coordinated policies.
ABUJA
The President of the Nigerian Institute of Town Planners (NITP), Dr. Chime Ogbonna, has urged the federal government to fully implement the Nigerian Urban and Regional Planning Law.
World News
All News
Nigeria, South Africa, and Egypt to Lead Africa’s Economic Growth in 2025 Says United Nations
The United Nations (UN) forecasts a significant boost in Africa’s economic growth in 2025, with Nigeria, South Africa, and Egypt leading the charge. The region’s Gross Domestic Product (GDP) is expected to rise to 3.7% in 2025, driven by economic recovery in these three powerhouse nations. By 2026, growth is projected to reach 4.0%, signaling a strong rebound.
FG Invests ₦89.2 Billion in Roads, Schools, and Security in FCT
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.