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Nigeria’s central bank pressures lenders with loan requirement increase

Nigeria’s central bank has increased its target for lending by commercial banks for the second time in three months, to help boost growth. Banks that miss the target will face higher cash-reserve requirements.

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World Bank Appoints New Country Director for Nigeria

The World Bank has announced the appointment of Shubham Chaudhuri, as the new Country Director for Nigeria, succeeding Rachid Benmessaoud who has just completed his term.

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Real estate: Stakeholders condemn proposed tax imposition on vacant houses

Real estate stakeholders have faulted the proposed tax imposition on all vacant houses across Nigeria, saying the move would amount to double losses to house owners and would make life difficult for accommodation seeking residents.

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Kampala Named The Best Place Where Hotel Investors Can Invest

Acknowledged as one of the continent’s leading hospitality investment experts, Wayne Troughton of HTI Consulting shared unique insights on the Top 5 and Bottom 5 Hospitality Investment markets in Africa. According to Troughton, the hospitality sector continues to attract investment from a broad spectrum of international and African investors.

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Lagos determined to make more residents homeowners in 24 months—Commissioner

Lagos State government has assured of its determination to make more residents home owners within the next two years, adding that it is committed to ensuring that more Lagosians gain access to homes irrespective of their ethnicity or political persuasion.

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Mortgage, affordable housing crises dot landscape

As Nigeria rolls out the drum to celebrate its 59th independence anniversary, it is estimated that over 17 million Nigerians are without roofs over their heads, as issues inhibiting affordable housing provision and mortgage system are yet to be resolved. Dayo Ayeyemi reports.

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Nigeria’s tortuous journey to affordable housing

The United Nations (UN) recognises standard and quality housing as everyone’s fundamental need. The global body also says it is the government’s obligation to guarantee that everyone lives in a secure, peaceful and dignified apartment. It also sets a minimum threshold for monthly rentals at between 7.5 to 10 per cent of an individual’s income, […]

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Investors woo Nigerians to US real estate market

A United States-based real estate investment firm, Houston EB5, has said it is giving Nigerians the prospect of investing in the US property market. The firm, working with a Nigerian real estate company, 3Invest, is raising capital for its latest development, The Allen, a mixed-use luxury development in Houston, Texas.

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Inside Abuja’s empty luxurious estates

Many completed estates in Abuja remain half or totally unoccupied despite improvements in the real estate sector and Nigeria’s economy in general, Daily Trust reports. A week-long random survey of some districts in the city centre and on the outskirts of the Federal Capital Territory (FCT), Abuja, shows that as more estates are being built, […]

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UPDC seeks approval to list N15.96 billion worth rights issue

UACN Property Development Company Plc (UPDC) has through its Stockbroker, Stanbic IBTC Stockbrokers Limited, submitted an application to The Nigerian Stock Exchange for the approval and listing of a Rights Issue of N15.96 billion.

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