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
FG Halts Lagoon and Island C-of-O Approvals, Orders Resubmission to OSGOF
The Federal Government has suspended all pending and previously approved Certificates of Occupancy (C-of-O) for developments on Nigeria’s islands and lagoon areas.
Lagos State Government to Add Nearly 95,000 sqm of Premium Office Space by 2027 Across 10 Projects
Lagos is gearing up for a significant expansion in its commercial real estate sector. According to the latest data, approximately 94,931 square meters of premium office space.
Lagos Rental Market Stalls at 1.38 Million Households Despite Soaring Population Growth
A new report has revealed that the number of households renting homes in Lagos has remained flat at about 1.38 million since 2016, even as the city’s population and total households have continued to grow.
The Federal Government Greenlights ₦3.8 Trillion Renewal of Third Mainland Bridge
The Federal Government has authorized a sweeping ₦3.8 trillion initiative to restore or rebuild Lagos's Third Mainland Bridge.
Federal Government Allocates N142 Billion for Six Modern Bus Terminals Nationwide
The Federal Executive Council (FEC) has sanctioned a substantial investment of N142 billion for the development of six state-of-the-art bus terminals across Nigeria.
FG and Lagos Launch Nationwide Land Titling and Documentation Reform
The Housing Ministry and Lagos State have launched a high-level workshop to advance national land titling reforms, partnering with the World Bank, streamlining documentation.
Shelter Afrique Ordered to Pay Over US$1.1 Million in Court Settlement
The Commercial Division of the Accra High Court has ordered pan-African housing finance institution Shelter Afrique to pay over US$1.1 million to Ghanaian property developer Blue Rose Limited after finding that the lender failed to release funds for a housing project despite the developer meeting all contractual conditions.
FCMB, MREIF Join Forces on ₦10 Billion Mortgage Plan to Expand Homeownership
First City Monument Bank (FCMB) has partnered with the Ministry of Finance’s Real Estate Investment Fund (MREIF) to roll out a ₦10 billion mortgage financing scheme designed to help more Nigerians own homes.
FG Blocks MDAs from Issuing Contracts Unless Finance Ministry Signs Off
The Federal Government now requires MDAs to secure Finance Ministry approval before awarding contracts, aiming to boost transparency and payment efficiency.
Lagos Rolls Out Digital Property Addressing as Minister Flags Land Titling Gap
At an event in Victoria Island, Lagos, Governor Babajide Sanwo-Olu introduced the first phase of the state’s Identifier Project.