As Nigerian businesses anticipate the completion and take-off of the much-awaited $1.5 billion Lekki Deep Seaport, the consensus opinion among experts is that the promoters of the port project must do everything possible to avert a repeat of the Apapa conundrum. Apapa, which plays host to Nigeria’s two busiest ports – Apapa and Tin-Can Island…
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A real estate developer, Bilaad Realty Nigeria Limited has said it has advanced plans to launch a rent-to-own housing scheme which is an alternative mortgage financing model that will help Nigerians own houses. The Chief Executive Officer (CEO) of Bilaad, Mr. Aliyu Aliyu, dropped the hint when officials from Media Trust Limited, publishers of Daily Trust and other titles, paid the company a courtesy visit in Abuja recently.
The Managing Director of Family Homes Fund (FHF), Mr. Femi Adewole has said that the programme was set to boost cooperative housing through its rolled out funds.
Adewole made this known at a cooperative housing workshop organised by the Nigeria Integrated Social Housing (NISH), Affordable Housing Limited in collaboration with Family Homes Funds (FHF), last week in Abuja.
The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, has indicated its preparedness to deploy more capital towards developing infrastructure in the country.
The agency disclosed this in its audited financial results for the 2018 financial year released recently.
From the N18 billion it has raised from the capital market between 2015 and 2019, the Nigerian Mortgage Refinance Company (NMRC) is said to have refinance mortgages originated by its 12-member primary mortgage banks PMBs and three commercial banks, leading to the creation of 900 mortgages.
The second annual bilingual MozamReal Property Forum (www.MozamReal.com) taking place on 5 June will aid investment decision making in the country’s re-emerging property market says its host Kfir Rusin.
“Over the past 12 months market sentiment has improved significantly. This year, we will explore how companies can position themselves in what is expected to become one of Africa´s real estate stand out markets over the next five years.”
The federal government has inaugurated a 26-member board of the Nigerian Railway Corporation(NRC), even as it urged them not to slow down the work of the Ministry of Transportation and Agency in the execution of President Muhammadu Buhari aministration’s strategy for rail development in the country.
Megacities, cities with a population of at least 10 million, are sprouting everywhere in Africa. Cairo in Egypt, Kinshasa in the Democratic Republic of the Congo and Lagos in Nigeria are already megacities, while Luanda in Angola, Dar es Salaam in Tanzania and Johannesburg in South Africa will attain the status by 2030, according the United Nations.
As we approach the second term inauguration of President Muhammadu Buhari’s administration on May 29, many analysts are busy proffering suggestions on the next Buhari cabinet and what the president should do to make it more effective.There is nothing bad in suggesting the way forward considering the fact that President Buhari has not made any change in his cabinet since inception.
With an eye to checking the growth of slums in rapidly urbanising Kenya, the World Bank has approved a $250m loan to help Kenyans get mortgages for affordable housing.Now, most middle-to-low income people are locked out of home ownership by interest rates of 12% and tough mortgage conditions, such as short loan tenures of five years or fewer.