Nigeria’s GDP growth drops in Q1 2019, NBS reports

Gross Domestic Product (GDP) grew by 2.01% (year-on-year), in real terms, in the first quarter of 2019, according to a report by the National Bureau of Statistics (NBS).
The Q1 2019 growth rate represented an increase of 0.12% points when compared to Q1 2018 which recorded real GDP growth rate of 1.89%.

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Old Mutual partners Newhomes on digital insurance

Old Mutual General Insurance Company Nigeria Limited, a subsidiary of Pan-African Insurance Company and global financial services group, Old Mutual Limited, has entered into a strategic insurance partnership with Newhomes.ng on innovative digital insurance products for the industry.

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Why few Nigerians can afford mortgage loans

The Managing Director/CEO of Infinity Trust Mortgage Bank, Mr. Banjo Obaleye, has said the number of Nigerians that can afford mortgage is very small because of a lot of challenges plaguing the mortgage sector.

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Ngong Road units to be tallest residential property in city

  • Each apartment in the 15 blocks will see three jobs created, translating to 4,110 for Parkroad project and 9,180 jobs on Ngong Road.
  • Ngong Road houses will rise 34 floors, making it the highest residential property.
  • It will comprise 285 one-bedroomed units, 1,768 two-bedrooms and 1,007 three-bedroomed units with three basement parking bays for 3,086 vehicles.
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Facility managers want role in proper use of national assets

Experts have stressed the need for proper use of facility managers in the management of national assets and facilities. They spoke at an event to mark the 2019 World International Facility Management (FM) Day and launch of Lagos State Maintenance Cultured Initiative, organised by the State Government in collaboration with the Nigerian Chapter of the International Facility Management Association.

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Propertymart’s estate allocation boosts subscribers’ confidence in housing scheme

Propertymart Real Estate Investment Limited, a Lagos based property firm, has allocated plots of lands to subscribers of its Fairmont Hilltop Estate, Alagbado, boosting their confidence in the scheme. In tandem with its goal of addressing the housing deficit in the country, the latest allocation is one of the series targeted at providing comfortable housing away from the bustling city life to a fine country living which the Fairmont Hilltop presents

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Century Power canvasses complete deregulation in power sector

Chukwueloka Umeh, chief executive officer, Century Power Generating (CPG) Limited, has canvassed for complete deregulation of power, saying the epileptic power supply witnessed in the country could become a thing of the past if government allowed market forces to determine pricing in the entire value chain from generation of power to distribution.

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Possible growth initiatives for housing finance in Nigeria

Unemployment and high level poverty are two major obstacles to getting housing finance in Nigeria. Poverty level in the country is high despite the country’s apparent wealth from petro-dollar. This is made worse by rising unemployment figures in excess of 20 million.

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Why Land Reform Will Continue to be One of South Africa’s Biggest Problems

Land redistribution through just and equitable means remains contentious in the South African political and judicial landscape. Under the apartheid rule, the distribution of land was aligned to race, with the minority white population allocated about 90% of arable and habitable land, while the majority black population was allocated the minute remainder, mainly in the homelands. Transitioning from an apartheid to a democratic state brought about the human rights laden Constitution which contains section 25 – the right property. Essentially, the provision calls for ‘expropriation for public purpose or public interest’ and expressly prohibits the ‘arbitrary deprivation of property’. Opposition parties like the Economic Freedom Fighters (‘EFF’) have taken a different stance – as they find the provision to be fundamentally lacking in addressing the glaring inequalities between the races where land is concerned – calling for ‘expropriation without compensation’. As a result and to remain attractive and viable to the voting population, the ruling African National Congress (‘ANC’) conceded to the amending the Constitution along these lines.

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