This week in Real Estate
NHM brings you the most important real estate stories of the week.
Latest News
NATIONAL NEWS
The Rivers State Government’s collaboration with Masta Services aligns with its broader strategy to expand housing infrastructure and stimulate local investment. By positioning the project close to the Port Harcourt International Airport, the state aims to foster a thriving residential and commercial ecosystem that supports tourism, logistics, and corporate relocation.
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
Lagos Promises Building Approvals Within 10 Working Days
Lagos State has pledged to issue planning permits within 10 working days once applicants meet all requirements, in a move aimed at improving efficiency and restoring investor confidence in the state’s real estate sector.
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.
FESTAC Renewal Begins as FHA Launches Major Infrastructure Projects
The Federal Housing Authority (FHA) has commenced large-scale rehabilitation works in FESTAC Town, signalling the beginning of a long-anticipated regeneration programme aimed at restoring one of Lagos’s most iconic housing estates.
FG Reserves NNPCL Road Contracts Below ₦20 Billion for Local Firms
The Federal Government has directed that all Nigerian National Petroleum Company Limited (NNPCL) Tax Credit road projects valued below ₦20 billion be awarded exclusively to indigenous contractors,
Lagos Evictions Displace Over 30,000 Residents, Drawing Rights Concerns
More than 30,000 residents of Oworoshoki in Lagos have been displaced following large-scale demolitions by state authorities
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.
Survey Ranks Dangiwa Among Most Admired Ministers for Reform-Driven Leadership
A recent survey of lawmakers and housing sector stakeholders has ranked the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa.
Wike Inaugurates Karu Road Project, Promises Completion in Ten Months
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has officially inaugurated the 5.4-kilometre Karu dual carriageway
FCTA Revokes Riverpark Estate Lease Amid Land Dispute, Orders Repossession of Undeveloped Plots
The Federal Capital Territory Administration (FCTA) has revoked the lease agreement of the controversial Riverpark Estate in Abuja, ordering the repossession of all undeveloped plots.
Diaspora Nigerians Drive Uptake of Government-Backed Mortgage Fund
A government-supported mortgage initiative is recording strong interest from Nigerians abroad seeking long-term participation in the country’s property market. The Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF).