News by Country
Published stories attached to Nigeria.
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Enugu State has regained control of a disputed 1.4-hectare property in Abuja’s Wuye District and started construction of a 43-unit residential estate. The project combines public land with private-sector development expertise after a three-year delay.
Residents of Abuja’s Lugbe FHA Estate are asking authorities to clarify the community’s approved master plan after proposed construction along a road corridor raised concerns about access, drainage and future development.
Two-bedroom apartment rents across Lagos Island’s prime residential markets have more than doubled since 2022. Ikoyi now commands the highest average annual rent at ₦17.25 million, while even relatively cheaper areas such as Ikate have recorded sharp increases.
The Ministry of Housing and Urban Development introduces new safeguards, including escrow-backed payments and strict developer licensing, under the draft National Housing and Built Environment Regulation Policy to curb project abandonment and protect off-plan buyers.
The Central Bank of Nigeria's latest Credit Conditions Survey highlights growing borrower appetite for home equity, mortgages, and consumer financing alongside higher commercial bank loan approval rates.
According to the Lagos Island Residential Market Report 2026, average annual rents for two-bedroom apartments across major Lagos Island corridors have surged dramatically between 2022 and 2026, driven by land scarcity, corporate demand, and limited inventory supply.
With Lagos coastal property values jumping 751% over five years, the Shoreline Developers Association warns that a profit-driven land rush risks severe environmental damage without long-term planning and clear governance.
A surge of new short-let properties in Lagos prime areas is driving up competition and driving down returns, as hosts struggle with rising power, fuel, and maintenance expenses.
Minister Ahmed Dangiwa reassures National Housing Fund contributors and mortgage customers that all records remain intact following a fire at the FMBN headquarters, with core systems backed up digitally.