BUSINESS DAY NEWSPAPER (FEBRUARY 13, 2024)

Headline: Land Recovery Is at The Core of Efforts at Fighting Climate Change—FG

The Nigerian government intensifies efforts to combat desertification, focusing on reclaiming lost land in the North. Minister of Environment, Balarabe Abbas Lawal, highlighted collaboration with the World Bank to address landscape degradation.

The project, involving federal and state agencies, local governments, and civil societies, targets solutions to desertification, flooding, deforestation, and other environmental challenges in the North. He added that the ACReSAL project aims to foster inter-agency cooperation and tackle issues such as poor agricultural productivity, climate risks, and increased poverty rates. The Minister expressed confidence in ACReSAL’s ability to deliver results and assured support for its mandate.

BUSINESS DAY NEWSPAPER (FEBRUARY 16, 2024)

Headline: Residents Suffer as Power Tariff at Serviced Estates Spikes 79% On High Diesel Cost

Serviced estate residents nationwide are battling with an alarming 80% increase in power tariffs, driven by soaring diesel prices, which have risen to N1,300 per liter. Analysts attribute the surge to subsidy removal, currency devaluation, and high inflation. Facilities managers pass on the hike to residents, already burdened by rising living costs.

As residents grapple with the escalating financial burden, estate managers are compelled to explore innovative strategies to navigate the challenging economic landscape, emphasizing the imperative of collective resilience in overcoming the prevailing crisis while Industry experts emphasize the need for proactive measures to alleviate the financial strain.

PUNCH NEWSPAPER (FEBRUARY 19, 2024)

Headline: Lagos Begins Building Audit

In a recent meeting with real estate developers, the General Manager of the Lagos State Physical Planning Permit Authority (LASPPPA), Kehinde Osinaike, announced the commencement of an audit of buildings across the state to ensure their adherence to the state’s development plan. Osinaike expressed concern over the illegal change of use of existing buildings without approval from LASPPPA, emphasizing the necessity of obtaining planning permits before commencing construction. He warned property owners and developers to comply with state planning laws to avoid sanctions, highlighting the importance of proper urban planning for a sustainable built environment. Stakeholders are advised to liaise with LASPPPA for change of use considerations and approvals.

VANGUARD NEWSPAPER (FEBRUARY 20, 2024)

Headline: Nigerians Groan as Cement Price Hits New High In Days

Cement prices in Nigeria have surged to N10,500 per 50kg bag, alarming builders and consumers alike. Despite attempts by BUA Cement to lower prices, the increase affects all manufacturers, driven by inflation and rising production costs. Real Estate Developers call on President Tinubu for intervention, fearing economic hardship and exacerbation of the housing deficit. Meanwhile, the Lagos State Government pledges to tackle housing shortages through partnerships with the Federal Government and private investors, aiming to deliver 4,000 affordable units in four years.

PUNCH NEWSPAPER (FEBRUARY 26, 2024)

Headline: Housing Ministry Partners Surveyors On Data

The Federal Ministry of Housing and Urban Development has announced a partnership with the Nigerian Institution of Surveyors to enhance geographical data. Minister Ahmed Dangiwa welcomed the collaboration, aiming to improve decision-making in urban planning and infrastructure development. The move underscores a commitment to affordable housing and sustainable urban growth, recognizing surveyors’ role as custodians of accurate geographic data.

REAL ESTATE NEWS OF FEBRUARY 2024

REAL ESTATE NEWS OF FEBRUARY 2024