This week in Real Estate
NHM brings you the most important real estate stories of the week.
Latest News
NATIONAL NEWS
The House of Representatives has proposed a nationwide cap limiting rent increases to no more than 20% of the current rate, in a bid to curb arbitrary hikes and strengthen tenant protection across Nigeria’s rental market.
LAGOS
The Lagos State Government has reiterated its commitment to enforcing compliance within state-owned housing estates, warning that residents who breach estate regulations risk losing their home allocations.
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
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NIESV Advocates Reforms to Strengthen Ethics and Restore Trust in Nigeria’s Real Estate Sector
Real estate professionals have called for comprehensive reforms to rebuild public confidence, enhance ethical standards, and align Nigeria’s property market with international best practices.
Lagos Secures 4,000 Hectares for Ibeju-Lekki Airport as NCAA Reaffirms Support
The Lagos State Government has secured 4,000 hectares for the Ibeju-Lekki Airport project. The Nigeria Civil Aviation Authority (NCAA) has reaffirmed support, urging compliance with regulatory and safety standards before construction begins.
Lagos State Government Denies Involvement in FESTAC Demolitions, Reaffirms Commitment to Due Process
The Lagos State Government has denied involvement in the recent demolition of properties in FESTAC Town, clarifying that it neither authorised nor supervised the operation, which has drawn public criticism and confusion.
Lagos State Government Demolishes 39 Illegal Buildings in Ikota Estate to Tackle Flooding and Setback Violations
The Lagos State Government has commenced the demolition of 39 buildings in Ikota Estate, Eti-Osa Local Government Area, following the expiration of a quit notice issued to property owners who encroached on drainage setbacks.
Reps Urge Federal Government to Allocate Forfeited Emefiele-Linked Estate to Vulnerable Nigerians
The House of Representatives has called on the Federal Government to ensure the equitable and transparent allocation of a forfeited housing estate in Abuja.
Federal Housing Authority to Begin Construction of 200 Housing Units in Ekiti, Commends Governor Oyebanji’s Support
The Federal Housing Authority will commence construction of 200 housing units in Ekiti State, following Governor Biodun Oyebanji’s land allocation and federal collaboration to address Nigeria’s housing deficit.
Wike Launches Judicial Housing Initiative to End Rented Accommodation for FCT Judges
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.
Eko Paragon to Deliver 105 Luxury Homes Within a Year, Setting New Standards in Lagos State Real Estate
AceRoyal Estates Homes has announced steady progress on its flagship project, Eko Paragon, a luxury residential development in the Abijo Government Reserved Area (GRA) of Lagos, with 105 premium housing units scheduled for delivery within the next 12 months.
Peter Obi Criticizes Nationwide Demolitions, Calls for Empathy in Urban Enforcement
Former presidential candidate of the Labour Party, Mr. Peter Obi, has condemned the ongoing demolition of properties across several Nigerian states, describing the actions as economically counterproductive and socially insensitive amid worsening economic hardship.
Lagos State Government Demolishes 17 Illegal Building Structures in Lekki to Reclaim Waterways and Curb Flooding
Stop-work and seal orders were issued to developers at Partibons Homes Estate and Bee-Forth Estate Phase II, where illegal reclamation and sand-filling activities were ongoing.