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Updated – Development: Zenith Multi-Storey Car Park, Victoria Island – Lagos

Published: September 2015; Updated: August 2016. Name: Zenith Car Park; Use: Car Park; Built Up Area: 18,000sqm; Location: 3 – 9 Molade Okoya Thomas Street, Victoria Island – Lagos; Contractors: Elalan; Architects: ACCL; Expected Completion: Q3:2016. In 2014, Zenith Bank embarked on the development of a 5 floor multi-storey car park in Victoria Island, Lagos. The multi level […]

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Road and Bridge Projects in the Approved 2016 Budget

Road and bridge projects in the approved 2016 budget will cost Nigeria N132.4 billion as research from Afrinvest shows. See the infographic below for a breakdown of the projects, their locations and costs.  

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Oshodi Regeneration Plans Begin with $70m Transport Interchange

In late May 2016, the Lagos State Government (LASG) laid out plans for the regeneration of Oshodi into a world class Central Business District (CBD). These plans will begin with the construction of a Transport Interchange that will consolidate the 13 city and interstate bus parks in Oshodi into 3 multi-story bus terminals. Terminal One will […]

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Green Light for N844bn 4th Mainland Bridge

Following a promise made by the Lagos State Government last month, the Memorandum of Understanding (MoU) to kick-start the construction of the 38km 4th Mainland Bridge was signed on Wednesday. The 4th Mainland bridge will be completed through a Public Private Partnership (PPP) initiative and is expected to cost N844billion. It will be financed by Africa Finance Corporation, Access […]

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Investec Asset Management appointed to run $670m Emerging Africa Infrastructure Fund

Investec Asset Management recently announced that it has been appointed to manage the ~US $670 million Emerging Africa Infrastructure Fund (EAIF), a public-private partnership anchored by the governments of the United Kingdom, The Netherlands, Sweden and Switzerland. This announcement further deepens Investec Asset Management’s pan-African investment expertise and follows the recent launch of the Growthpoint […]

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MoU for Construction of the 4th Mainland Bridge will be perfected by May 2016

Speaking at the Q1 2016 Town Hall Meeting in Ikorodu, Governor Ambode announced that the signing of a Memorandum of Understanding (MoU) on the construction of the 4th Mainland Bridge will be perfected before May 29 2016. Signing of MoU on the construction of the 4th Mainland Bridge will be perfected before May 29 2016 #Ambode‘sY2016FirstQuarterTownHallMeeting — The […]

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Major Infrastructure Projects in Ibeju-Lekki Set for Completion in the years ahead

With major infrastructural projects such as Lekki Deep Seaport, the Ibeju-Epe Expressway and the Dangote Refinery and Petrochemical Park set for completion over the next 3 years, the Ibeju-Lekki region is en-route to establishing itself as a major hub of industrial and commercial activity. Dangote Group’s Refinery and Petrochemical Park, which is planned to open in 2018 is located within […]

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Infrastructure Watch: Lagos Approves Flyover for Ajah and Abule Egba

Late last year, the Lagos State Government approved the construction of flyover bridges for two of the State’s high-density traffic zones – Ajah roundabout and Abule Egba junction. In a press release issued by the State’s Commissioner for Information and Strategy, Mr. Steve Ayorinde on the 13th of December, it was stated that the projects will […]

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Nigeria’s 2016 Budget Breakdown by BudgIT

Key Takeaways The highest Capital Expenditure component of the 2016 budget will be Works, Power and Housing at N433.4bn. This budget is the highest budget ever presented by the Federal Government of Nigeria at N6.08tr. Oil revenue projections tumble from N1.64tr in 2015 to N820bn in 2016. The Federal Government intends to raise N900bn from foreign […]

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NSIA 2014 Annual Report – The Real Estate Overview

In late August, the Nigerian Sovereign Investment Authority (NSIA) released the complete financial report for the year ending December 2014. The year ended with net comprehensive income of ₦15.8 billion, up from the ₦525 million recorded in the previous Annual Report for the 15-month period ending 31 December, 2013. Their milestones for 2014 are shown in the […]

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