Mortgage Finance

In effort to deliver affordable and quality homes for middle-income Nigerians, Alpha Mead Development Company (AMDC), last week, revealed the completed prototype of its 112 unit Lekki Pearl Estate. The unveiling which had in attendance all stakeholders on the project, including the home subscribers, financial partners and development contractors held at the estate’s site recently.…

APPARENTLY to increase the nation’s housing stock, Anambra State government plans to build 400 housing units in the capital to alleviate the accommodation problems of the citizenry. Governor Willie Obiano announced the development during a groundbreaking ceremony at the Obinwanne Housing Estate situated between Enugu-Agidi, Amawbia and Nawfia all in the Awka Capital Territory. He who…

CASH-STRAPPED Primary Mortgage Banks (PMBs) – hard pressed to provide long-term funds for prospective homeowners, have turned to the Central Bank of Nigeria (CBN) for facility with which to jump-start their operations. Citing unfavourable business environment, the Chief Executive Officers (CEOs) of mortgage banks in Nigeria under the auspices of Mortgage Banking Association of Nigeria…

FOR claiming to have illegally acquired their land measuring 7.5 hectares, the Adugotu Family of Opolo, Yenagoa, has sued the Bayelsa State Government, seeking a repossession of its landed property. The disputed land, valued at over N1 billion at current rate, is situated in a choice area of the state capital at the junction of…

IN a bid to reduce housing deficit and provide affordable housing for the average Nigerian homeowner, Lafarge has launched the first phase of the new Makun city in Sagamu interchange. The houses which are a three bedroom bungalow of ten units were built in partnership with the Ogun State Property Investment Corporation (OPIC) and commissioned…

BETTER days may be in the offing for prospective homeowners if the developments last week in the housing industry are anything to go by. Lagos authorities plan to review its projects in two locations to boost homeownership in the state. The state government is also planning to reduce housing deficit in Lagos, as a study…

AS controversy continues to surround the rightful owners and management of the biggest manufacturing company of aluminium in Nigeria, otherwise known as Aluminium Smelter Company of Nigeria (ALSCON), a firm, Dayson Holdings Limited, has approached a Federal High Court, seeking for protection of its investment in the company. Dayson Holdings Limited and ALSCON, being the…

FOLLOWING the slight  lull in the activities  in the housing industry and the onset of  fall in oil prices, which is apparently blowing over, experts  have called on  professionals to jettison competition for few significant development  in the sector this year, but rather synergise with each other in projects.   They also agreed that the…

STIRRED by the need to improve its prospects for sustained growth and development, members Nigerian Institution of Surveyors (NIS), Lagos Branch have advocated for effective  professionals’ involvement in policy formulation and execution.    They spoke at the 11th Annual Adekunle Kukoyi Memorial Lecture, last week organised by the institution that attracted stakeholders including members of the…

IN the wake of Lassa fever outbreaks, the Pest Control Association of Nigeria (PECAN) has called on Nigerians to be very cautious on using rodenticides (rat poisons) as the only rodents control measure in their buildings and vicinity. The group alleges that some Nigerians may have rushed to procure rodenticides, which are brazenly displayed on…

ON the heels of the historic international climate agreement in Paris, more than 500 global investors gathered last week at the United Nations to begin mobilizing the trillions of dollars needed to catalyze the global clean energy transition. Speaking just days after scientists confirmed that 2015 was the hottest year on record, UN Secretary-General Ban…