News by Country
Published stories attached to Nigeria.
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Nigeria’s housing crisis is now being worsened by soaring diesel prices. Developers say fuel costs are increasing everything from material transport to construction site operations.
A massive new mixed-use “Olympic City” is being developed in Lagos to combine housing with sports infrastructure. Developers say the project could help ease the city’s housing shortage while creating dedicated athlete facilities.
Buying property in Lagos just became significantly more expensive. The state has sharply increased land transaction fees after updating property valuations to match current market prices.
Nigeria’s booming off-plan property market is exposing buyers to rising fraud and abandoned projects. Legal experts say weak regulation is leaving investors vulnerable after paying upfront for homes that do not yet exist.
Lagos says emergency responders saved over ₦118 billion worth of property from fire disasters in 2025. But the state still lost nearly ₦20 billion in assets as fire outbreaks continued across the city.
Over ₦300 billion worth of abandoned and underused assets are sitting idle across Nigeria. Estate surveyors say the country is losing massive economic value while properties decay unused.
A three-storey building under construction collapsed in Abuja, killing at least five people. Emergency crews are still searching through the debris for more victims feared trapped beneath the rubble.
Wema Bank says its sale of disputed Banana Island properties was lawful and tied to debt recovery efforts. The clarification comes as regulators pursue legal action over assets linked to the collapsed Gulf Bank.
Rent hikes across Lagos are pushing tenants to breaking point, but landlords say they are under pressure too. Developers and agents blame inflation, construction costs, and economic instability for the city’s worsening affordability crisis.