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IFC Mulls $8.2m Investment in Nigerian Hospital Project Sponsored by AXA Mansard

The IFC, a member of the World Bank Group, is considering a USD $8.2m equity investment for a 20% equity stake in a hospital project in Lagos, Nigeria sponsored by AXA Mansard Insurance. The hospital will be built on a 20,000m2 land purchased by AXA Mansard in Ikate Elegushi, Lekki along the Lekki/Epe Expressway, which was a portion […]

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Strategy for Construction and Real Estate in Nigeria’s Economic Recovery & Growth Plan

In the recently published Economic Recovery and Growth Plan for Nigeria (2017 – 2020), the Ministry of Budget and Planning explained that the construction and real estate sectors are constrained by the high costs associated with house building, land acquisition and borrowing. The Ministry rightly outlined that social housing programmes had the ability to partly mitigate these constraints, […]

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Reuters: South Africa’s Shoprite to open less stores in Nigeria than planned

South Africa’s Shoprite will open two stores in Nigeria over the next 15 months, down from as many as 13, the retailer’s chief executive said, citing lack of retail space in the west African country. “Look, at Nigeria with the new legislation there where the clothing retailers had to withdraw, now you don’t have enough […]

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Central Bank of Nigeria: New Policy Actions in the Foreign Exchange Market

In a press release published earlier today, the Central Bank of Nigeria (CBN) has stated that it will be providing direct additional funding to banks to meet the needs of Nigerians for Personal and Business Travel, Medical needs, and School fees, effective immediately. The CBN expects such retail transactions to be settled at a rate not […]

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Africa Construction Trends – Deloitte 2016

The real estate sector accounted for 21.7% of total construction projects within West Africa, according to data compiled by Deloitte for its 2016 Africa Construction Trends Report. In this year’s edition, Deloitte tracked 286 construction projects across various sectors (transport, energy & power, real estate, oil & gas, shipping & ports etc) in Africa which had broken ground by 1 […]

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#eiMasterClass – Unlocking & Creating Value from Corporate Real Estate Portfolios

This 2-part article on Corporate Real Estate Solutions is part of the #eiMasterClass series. This edition was written by Adenekan Adeniran, Principal at FRISIA Partners. The infographic below provides a brief summary. Part I:  Preparing for Unlocking & Creating Value from Corporate Real Estate Portfolios The key objective of corporate organisations such as banks, FMCGs, […]

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Insight into the Economy, Real Estate, Demographics and Future Growth with 15 Charts

These 15 charts illustrate the Nigerian economy, population growth, urbanisation, age distribution statistics as well as the performance of the real estate, construction and trade sectors. View the charts on Nigerian Real Estate, Economic & Demographic Data.

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Infographic: Lagos State 2017 Budget Proposal To Focus on Infrastructure

The Lagos State Governor presented the Year 2017 Budget proposal of ₦813bn to the House of Assembly at the end of November 2016. The Governor christened the 2017 budget as “The Golden Jubilee Budget” as it coincides with the State’s 50th Anniversary. He explained it would focus on physical infrastructure, while social sectors especially health, […]

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Nigerian Real Estate & Construction Economic Sectors Sustain Quarterly Declines

Nigeria remained firmly in recession during Q3:2016 as data published by the Bureau of Statistics showed that the economy contracted -2.24%, a few basis points less than what was expected by most analysts. A worsening economic environment due to falling oil output and even more restricted access to USD led to the economy shrinking  more than the […]

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Federal Palace Hotel (TCN) Makes Loss for 2nd Consecutive Year

The Tourist Company of Nigeria, which owns and operates the Federal Palace Hotel in Victoria Island, Lagos reported a loss for the 2nd consecutive year following lower room occupancy, reduced food and beverage revenue, and higher costs caused by the weakening Naira. The company made a loss of N5.6bn for the financial year ending June 2016, […]

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