In this article, we provide context to how auctions can be used as a veritable tool for enhancing home ownership in Nigeria. Before we dive in, let’s look at the global property auction market.
It is the irony in its name that first strikes you when you get to the area called...
Despite the inhumane treatment residents in Makoko go through, it's surprising that they pay up to N180,000 annually to rent a two-room wooden shanties without toilets and bathrooms. This article explores the reason behind this surprising development.
The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has formally requested an annual allocation of N500 billion from the Senate to address the housing deficit across the country under the Renewed Hope Estates and Cities program.
The rising cost of building materials has outpaced his income as a civil servant, making it impossible to continue.
In the past four years, rents have skyrocketed by over 100% across parts of Lagos state, far outpacing stagnant incomes or slight increases in earnings
Nigeria faces a staggering housing deficit of 28 million units, demanding an estimated N21 trillion for meaningful intervention.
With the enormity of construction work in Lagos, the natural expectation is that the housing deficit will have been completely eradicated, or at least close to it, but that is not the case.
In a bid to boost revenue for the FCTA, the FG has been urged to introduce property tax for unoccupied buildings in the Federal Capital Territory (FCT).
Onyema noted that the housing situation in Nigeria is plagued by a shortage of affordable housing proliferation of low quality building materials.
Despite increased development activities in Lagos, the State still needs over 3 million residential units to meet demand.
The Ministry of Works and Housing stated that it is working with the Ministry of Finance, Budget and...
