The Economic and Financial Crimes Commission (EFCC) has urged the Lagos State Real Estate Regulatory Authority (LASRERA) to strengthen enforcement against fraudulent estate agents. The anti-graft agency also advised the regulator to create a denylist for individuals and companies found guilty of real estate fraud.

The recommendation came during a meeting between the Acting Zonal Director of EFCC Lagos Zonal Directorate II, ACE I Bawa Usman Kaltungo, and the Permanent Secretary of the Lagos State Ministry of Housing, Engineer Abdulhafis Gbolahan Toriola. Senior officials from LASRERA also attended the meeting.

Kaltungo said stronger regulation would help protect homebuyers, investors and property developers. He also called for regular information sharing between both agencies to improve investigations and enforcement.

EFCC Offers Investigative Support

The EFCC said it will continue to support LASRERA with investigations into fraudulent property transactions. Kaltungo explained that closer cooperation would help identify offenders faster and ensure they face prosecution under the law.

He also praised LASRERA for implementing the Lagos State Real Estate Regulatory Authority Law 2022. According to him, the law has created a stronger foundation for regulating the real estate industry in Lagos.

The commission disclosed that it is handling several cases involving alleged fake estate agents and property-related fraud. These cases involve individuals and organisations accused of misleading members of the public through illegal real estate transactions.

Lagos Reaffirms Commitment to Transparency

Engineer Abdulhafis Gbolahan Toriola said the Lagos State Government remains committed to promoting transparency, accountability and professionalism in the property market.

He noted that stronger collaboration with the EFCC would improve compliance with existing regulations. He added that the partnership would also increase public confidence in buying, selling and investing in property across the state.

Both organisations agreed to deepen their cooperation as part of efforts to reduce criminal activities within the real estate sector.

Why Stronger Regulation Matters

Property fraud remains a major challenge in Nigeria’s housing sector. Many buyers lose money through fake land sales, forged documents, multiple sales of the same property and unregistered estate operators.

These practices weaken investor confidence and slow the growth of the housing market. They also create risks for mortgage lenders, developers and genuine estate professionals.

Industry experts have consistently argued that stronger regulation can improve transparency and attract more investment into Nigeria’s real estate sector. Better enforcement can also encourage responsible housing development and strengthen consumer protection.

As Lagos continues to expand, effective regulation will play an important role in creating a safer property market. Closer cooperation between regulators and law enforcement agencies could help reduce fraud and improve confidence in real estate transactions across the state.

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Two people have been confirmed dead after a 5.2-magnitude earthquake struck southern China’s Guangxi region in the early hours of Monday, triggering building collapses and large-scale evacuation efforts.

According to reports from Chinese state media, the earthquake hit Liuzhou city in Guangxi at approximately 12:21 a.m. local time, leaving widespread destruction in its wake.

Authorities said one person remained missing as rescue teams continued search operations across the affected communities.

Buildings Collapse as Thousands Evacuate

State broadcaster CCTV identified the deceased victims as a couple — a 63-year-old man and a 53-year-old woman.

Officials also confirmed that at least 13 buildings collapsed following the tremor, while more than 7,000 residents were evacuated from impacted areas as a precautionary measure.

Videos aired by state media showed panicked residents rushing out of high-rise buildings moments after the earthquake struck.

Scenes from the disaster zone also revealed piles of rubble surrounding destroyed structures as emergency workers moved quickly to assess the damage.

Rescue Teams Continue Search Operations

Search and rescue teams, accompanied by trained rescue dogs, were deployed to locate survivors trapped beneath debris.

Emergency personnel wearing protective helmets and operating heavy equipment, including earthmovers, were seen clearing wreckage across affected sites.

Authorities said rescue operations remain ongoing as teams continue efforts to locate the missing individual.

China Faces Frequent Seismic Activity

Earthquakes occur regularly across several parts of China due to the country’s geographic location along active seismic zones.

Earlier this year, a major earthquake in the Tibet region claimed at least 126 lives and destroyed thousands of structures, highlighting the recurring threat posed by seismic events across the country.

The post Earthquake Kills Two, Collapses Buildings in Southern China appeared first on Housing TV Africa.

Governor Babajide Sanwo-Olu of Lagos State has called for stronger collaboration with credible financial institutions, including the Lagos Building Investment Company (LBIC), to expand access to sustainable housing finance and address the state’s growing housing needs.

The governor made the appeal at the 21st Annual General Meeting (AGM) of LBIC held in Ikeja, Lagos, where he reiterated that government alone cannot resolve the housing deficit.

Represented by the Commissioner for Housing, Moruf Akinderu-Fatai, Sanwo-Olu reaffirmed the state government’s commitment to improving affordable housing finance systems across Lagos.

He described housing as a critical economic driver that supports job creation, stimulates small businesses, and strengthens overall economic stability in the state.

Housing Beyond Shelter, Says Sanwo-Olu

The governor commended LBIC’s board, management, and shareholders for sustaining the institution’s mandate of promoting mortgage access and inclusive housing development.

He noted that despite prevailing economic challenges and shifting market conditions, LBIC has continued to demonstrate resilience in supporting Lagos residents through mortgage financing.

“Housing is not just a social need; it is an economic driver that creates jobs and supports small businesses across the value chain,” he said.

Call For Digital Expansion And Innovation

Sanwo-Olu urged LBIC to embrace technology-driven solutions and innovative financial products to expand access to underserved segments of the housing market.

He stated that digital transformation and retail lending expansion should remain central to LBIC’s 2026 priorities, particularly in reaching low- and middle-income earners.

According to him, modern housing finance systems must leverage technology to improve efficiency, accessibility, and affordability.

LBIC’s Role In Lagos Housing Development

The Lagos Building Investment Company, a primary mortgage institution in the state, was originally established to provide mortgage facilities for low-cost housing schemes.

Over the years, it has evolved into a key player in Lagos’ housing finance ecosystem, supporting homeownership and real estate development through structured mortgage products.

The governor expressed confidence that outcomes from the AGM would strengthen LBIC’s capacity to deliver greater impact in the housing sector.

Outlook

Stakeholders say strengthening housing finance partnerships remains critical as Lagos continues to face rising housing demand driven by rapid population growth and urbanisation.

With government backing and increased private sector collaboration, institutions like LBIC are expected to play a central role in expanding access to affordable mortgages and improving housing delivery across the state.

The post Lagos Seeks Stronger Housing Finance Partnerships As Sanwo-Olu Backs LBIC Expansion appeared first on Housing TV Africa.

The introduction of the Renters’ Rights Act in the United Kingdom is sending a strong signal to property owners globally, including Nigerian landlords.

The law, which came into force on May 1, 2026, is being implemented in phases and represents one of the most significant housing reforms in decades.

While many landlords have resisted the changes, some are embracing them as necessary for long-term stability in the rental market.

Why Some Landlords Support the Reform

One notable supporter is Rick Gannon, a landlord with a property portfolio valued at £10 million.

He described the legislation as “the biggest change” in the sector in years and believes most provisions will improve the system.

According to him, stricter regulations could help eliminate underperforming landlords and raise standards across the industry.

This perspective contrasts sharply with the situation in Nigeria, where many landlords often resist tenant-friendly policies.

Key Changes in the Renters’ Rights Act

The Act introduces sweeping reforms aimed at protecting tenants and rebalancing landlord-tenant relationships.

One of the most controversial provisions is the removal of “no-fault” evictions under Section 21 of the Housing Act 1988.

This means landlords can no longer evict tenants without providing valid reasons.

The law also seeks to improve tenancy security and create a more transparent rental system.

Landlord Concerns and Market Reactions

Despite its benefits, the law has sparked concerns among landlords.

Many fear reduced flexibility in managing properties, especially in cases involving difficult tenants.

Some landlords have reported situations involving unpaid rent running into thousands of pounds and significant property damage.

Research by LegalForLandlords suggests that about 25 percent of landlords may exit the rental market due to the new rules.

Additionally, 43 percent identified the removal of Section 21 as their biggest concern.

Tighter Tenant Screening Expected

The reforms are also expected to change how landlords select tenants.

About 60 percent of landlords who plan to remain in the market say they will adopt stricter screening measures.

These include demanding guarantors, conducting deeper income checks, and tightening affordability criteria.

While this may reduce risk for landlords, it could also make it harder for low-income earners and individuals with limited rental history to secure housing.

Lessons for Nigerian Landlords

The UK experience offers important insights for Nigeria’s rental market.

In Nigeria, landlords often justify high rents and harsh tenancy conditions by pointing to inflation, high building costs, and regulatory challenges.

However, the absence of strong tenant protection laws has created a system where renters face frequent rent hikes and limited security.

The UK reforms highlight the importance of balancing profitability with fairness.

A regulated system can improve trust, reduce disputes, and attract more stable long-term tenants.

Balancing Reform with Practical Challenges

The Renters’ Rights Act is not without flaws.

It reflects the ongoing tension between protecting tenants and maintaining a viable rental market for landlords.

Some property owners argue that stricter regulations may discourage investment or reduce housing supply.

Others believe the reforms are necessary to modernise the sector and ensure accountability.

What This Means Going Forward

The UK rental reform signals a shift toward more structured and transparent housing systems.

For Nigeria, it raises an important question: should the country adopt similar policies to protect tenants while maintaining investor confidence?

A balanced approach could help address long-standing issues in the housing sector while promoting sustainable growth.

The post UK Renters’ Rights Act: Lessons for Nigerian Landlords appeared first on Housing TV Africa.

The Federal Government has placed Nigeria’s housing deficit at 14.925 million units, providing what officials describe as the most accurate estimate yet of the country’s housing shortfall.

The figure was presented by the National Housing Data Technical Committee, inaugurated by the Federal Ministry of Housing and Urban Development, during a technical session at the 14th National Council on Lands, Housing and Urban Development.

Until now, estimates of Nigeria’s housing deficit have varied widely, with industry stakeholders often placing the gap at over 20 million units, largely based on projections rather than verifiable data.

Presenting the findings, the Chairman of the Committee and Director at the Nigeria Mortgage Refinance Company (NMRC), Dr. Taofeek Olatinwo, said the new estimate was derived from a more scientific and data-driven process under the National Housing Data Programme.

According to him, the revised figure reflects a rigorous analysis based on internationally accepted housing adequacy standards, rather than assumptions that have dominated public discourse in recent years.

“The estimate of 14.925 million housing units for 2025 is based on validated data sources and housing adequacy indices, including the number of persons per room, household surveys, and population and housing census data,” Olatinwo explained.

He noted that the methodology aligns with global best practices for measuring housing deficits and offers a clearer picture of the true scale of Nigeria’s housing challenge.

The data revealed that Nigeria’s housing shortfall remains driven by multiple structural factors, including rapid population growth, accelerating urbanisation, limited access to long-term housing finance, land acquisition and title constraints, and inadequate housing supply across several regions of the country.

Olatinwo stressed that while the revised figure is lower than previous estimates, it should not diminish the urgency of addressing the housing crisis.

“A housing deficit of nearly 15 million units is still enormous. What this data gives us is clarity—clarity that allows government, lenders, developers, and investors to plan properly and intervene more effectively,” he said.

Speaking at the session, the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, welcomed the development, describing reliable housing data as a long-standing gap in the sector.

“For years, the housing sector has suffered from the absence of reliable, centralised, and actionable data. Without credible data, planning becomes guesswork, investment becomes speculative, and monitoring progress becomes extremely difficult,” the minister said.

Dangiwa said the new housing deficit estimate would serve as a foundation for more targeted policy decisions and reforms, particularly in affordable housing delivery and housing finance.

He added that credible data would also strengthen investor confidence in the sector and improve coordination between federal and state governments.

The presentation formed part of the broader work of the National Housing Data Technical Committee, a multi-agency platform coordinated by NMRC in collaboration with key institutions including the National Bureau of Statistics (NBS), National Population Commission (NPC), Central Bank of Nigeria (CBN), Federal Mortgage Bank of Nigeria (FMBN), Federal Housing Authority (FHA), and other housing sector stakeholders.

Under the National Housing Data Programme, the Committee is spearheading efforts to establish a National Housing Data Centre, a central platform designed to aggregate, standardise, and disseminate housing and mortgage market data.

The proposed data centre is expected to support policy formulation, housing delivery planning, and the development of long-term housing finance, while also improving transparency in the housing market.

Olatinwo explained that accurate housing data is essential for designing sustainable interventions that expand access to affordable housing, particularly for low- and middle-income households.

“Reliable housing data allows us to measure the problem correctly. When you measure accurately, you can allocate resources efficiently, target interventions properly, and track progress over time,” he said.

The latest housing deficit figure reinforces ongoing calls for coordinated reforms in land administration, housing supply, infrastructure provision, and mortgage finance expansion to close the gap.

The National Council on Lands, Housing and Urban Development, where the data was presented, remains the highest intergovernmental policy forum on housing and urban development in Nigeria. It brings together federal and state governments to deliberate on sector priorities, reforms, and implementation strategies.

With the new data now available, stakeholders say attention must shift from debating the size of the deficit to accelerating solutions that can deliver affordable and decent housing at scale.

The post FG Puts Nigeria’s Housing Deficit at Nearly 15 Million Units appeared first on Housing TV Africa.

By: Housing Development Advocacy Network (HDAN)

Housing policy reflects how seriously a government treats the welfare of its people. A comparison between the United Kingdom and Nigeria shows two very different approaches—one built around strong public responsibility and regulation, the other largely left to market forces with limited protection for citizens.

1. Role of Government

United Kingdom

Housing is clearly recognised as a social responsibility of government. The UK government actively:

• Funds social and affordable housing
• Regulates rent increases
• Supports housing associations and councils
• Intervenes directly when affordability is threatened

Recent examples include £2.5bn low-interest loans at 0.1% for registered providers and long-term rent-setting frameworks to give certainty to both tenants and developers.

Nigeria

Nigeria’s housing policy largely treats housing as a private sector–driven activity. Government involvement is mostly limited to:

Policy declarations

Land administration

Occasional public housing projects

Direct government investment in rental housing is minimal, leaving affordability largely at the mercy of the market.

2. Housing Finance & Funding

• United Kingdom
• Government-backed grants and ultra-low interest loans
• Strong housing associations sector
• Long-term funding programmes (10–30 years)

Cheap borrowing allows providers to build and maintain homes without pushing rents sharply upward.

Nigeria

Housing finance is expensive and short-term

Mortgage interest rates often exceed 20%

Limited access to long-tenure loans

Developers transfer high financing costs directly to buyers and tenants through higher prices and rents.

3. Rent Regulation & Tenant Protection

United Kingdom

Rent increases are regulated, especially in social housing

Clear tenancy laws protect tenants from sudden eviction

Rent convergence policies are gradual and transparent

Advance rent demands are strictly controlled

Nigeria

Rent control laws exist in theory but are weakly enforced

Landlords often demand 1–2 years’ rent in advance

Sudden rent hikes of 30–70% are common

Tenants have limited access to fast dispute resolution

4. Housing Supply Strategy

United Kingdom

Focus on rental housing, not just homeownership

Strong emphasis on social and affordable homes

Planning policies encourage inclusionary housing

Local councils actively plan for population growth

Nigeria

Heavy focus on homeownership, even though most citizens are renters

Public housing supply is far below demand

Urban migration outpaces housing delivery

Planning often reacts after problems emerge

5. Regulation of Developers

United Kingdom

• Developers and housing providers must be registered
• Strong oversight by housing regulators
• Strict penalties for non-compliance
• Consumer protection is Central

Nigeria

The real estate sector remains largely unregulated

Anyone can operate as a developer

High incidence of fraud, double allocations, and abandoned projects

Weak consumer protection mechanism

6. Impact on Citizens

United Kingdom

Rent still rising, but within regulated frameworks

Housing stress exists, but safety nets are stronger

Government intervention cushions vulnerable households

Nigeria

• Rent consumes 40–60% of household income in major cities
• Rising homelessness and overcrowding
• Workers pushed to distant satellite towns
• Housing crisis spilling into transport, health, and security challenges

Key Differences at a Glance

Area United Kingdom Nigeria

• Government role Strong, direct Weak, indirect
• Housing funding Cheap, long-term Expensive, short-term
• Rent regulation Enforced Poorly enforced
• Rental housing focus High Low
• Developer regulation Strict Weak
• Tenant protection Strong Limited

Lessons Nigeria Can Learn from the UK

1. Treat housing as social infrastructure, not a luxury

2. Invest public funds in rental housing, not just ownership

3. Provide low-interest financing for housing delivery

4. Enforce tenancy laws to protect citizens

5. Regulate the real estate sector to eliminate fraud

6. Plan housing alongside urban migration and transport

Conclusion

While the UK still faces housing challenges, its policies show a clear understanding that housing stability underpins economic stability. Nigeria’s current approach—largely market-led with minimal safeguards—has resulted in soaring rents, housing insecurity, and social strain.

For Nigeria to reverse its housing crisis, it must move closer to the UK model: strong government leadership, sustainable financing, strict regulation, and a clear commitment to housing as a social responsibility.

—

If you want this typeset for newspaper pages, converted to PDF, or adapted to magazine column format, say the word.

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Ogun State has recorded significant progress in addressing its housing deficit, with over 5,000 residential units delivered across the state’s three senatorial districts since 2019.

Governor Dapo Abiodun disclosed this on Wednesday while providing a progress update via X, reiterating his administration’s ambitious plan to double that number and reach a total of 10,000 homes by 2027.

The governor emphasized that the state’s housing drive has had a notable impact on both affordability and investment returns for subscribers.

He highlighted two-bedroom bungalows in areas such as Kobape and Kainji, which were initially sold to civil servants for approximately ₦4.95 million and to the general public for ₦5 million.

Today, these properties have appreciated significantly, with market values surpassing ₦25 million, reflecting a substantial return on investment.

The Ogun housing programme, according to Abiodun, is built on three key principles: affordability, quality, and sustainability.

The projects are strategically distributed across the state, covering Kobape and Kainji in Ogun Central, Ilaro in Ogun West, and Sagamu, Ijebu-Ode, and the Gateway Aviation Village in Iperu in Ogun East.

Each estate is designed to enhance urban living standards, promote community development, and provide safe and planned residential environments.

The governor underscored the government’s deliberate and consistent approach to urban renewal, noting that previously neglected areas, such as Ibara GRA in Abeokuta, are now undergoing steady transformation. These initiatives aim to reposition the state capital as a modern, investment-friendly city while directly addressing housing shortages that have long affected the region.

Abiodun stated, “We have remained deliberate and committed in our resolve to transform Ogun State’s housing and urban environment.

Our housing drive, anchored on affordability, quality, and sustainability, has delivered estates across the three senatorial districts. We remain resolute in our commitment to making housing more accessible and reaching our target of 10,000 units by 2027.”

The governor’s update also highlighted the broader socio-economic impact of the housing programme. By providing affordable housing, the state has stimulated the real estate and construction sectors, created employment opportunities, and encouraged private investment in complementary infrastructure.

The development of these estates is expected to enhance living standards, promote economic growth, and support sustainable urbanisation across Ogun State.

Civil servants and members of the public who have benefited from the housing initiative describe it as transformative. For many, access to affordable homes has alleviated the burden of high rental costs, provided security of tenure, and improved overall quality of life.

Residents of the newly developed estates have commended the government for prioritizing safety, planning, and accessibility, noting that these factors have contributed to community cohesion and enhanced investor confidence.

The administration’s housing strategy is part of a larger vision to strengthen urban infrastructure and promote inclusive economic development. By 2027, Ogun State plans not only to meet its housing targets but also to ensure that the benefits of urban renewal are equitably distributed among residents. The programme reflects a proactive approach to urban governance, combining practical solutions with strategic planning to meet the demands of a rapidly growing population.

As the state continues its housing drive, challenges such as land acquisition, construction delays, and financing remain. However, the government has pledged to maintain momentum and address these obstacles through innovative public-private partnerships, streamlined project management, and increased engagement with stakeholders, including civil society and private developers.

Observers note that Ogun’s model could serve as a blueprint for other states in Nigeria facing housing shortages and urban planning challenges.

By balancing affordability with market growth, the state demonstrates that housing development can be both socially inclusive and economically sustainable. The programme also aligns with national efforts to improve access to decent housing, particularly for low- and middle-income earners.

Governor Abiodun concluded by reaffirming the administration’s commitment to reshaping the housing landscape in Ogun State.

He stated that the housing initiative is designed to build communities that are not only modern and planned but also safe, resilient, and investment-friendly.

With continued focus, strategic partnerships, and sustained execution, Ogun State is poised to meet its 2027 housing target, while transforming urban living for its residents.

The delivery of over 5,000 homes since 2019, coupled with plans to double the number in the next three years, reflects a commitment to long-term social and economic development.

As the housing programme progresses, residents, investors, and urban planners will be closely watching the impact on affordability, property values, and the broader urban ecosystem across Ogun State.

The post Ogun Delivers 5,000 Homes, Targets 10,000 by 2027 – Abiodun appeared first on Housing TV Africa.

The Attorney-General of the Federation (AGF) has taken over the prosecution of prominent constitutional lawyer, Prof. Mike Ozekhome, SAN, in an alleged London property fraud case, prompting a Federal Capital Territory High Court in Abuja to adjourn his arraignment to February 24, 2026.

Justice Peter Kekemeke granted the takeover on Monday after the AGF invoked Section 174 of the 1999 Constitution (as amended), which empowers the Attorney-General to institute, take over, or discontinue criminal proceedings in the public interest.

Ozekhome, who was billed for arraignment, was not docked following the AGF’s intervention.

Legal Heavyweights Appear

The senior advocate was represented by a formidable legal team led by former Attorney-General of the Federation, Chief Kanu Agabi, SAN, alongside 15 other Senior Advocates of Nigeria.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) was represented by Dr. Osuobeni Ekoi Akponimisingha, head of its High-Profile Prosecution Unit, while the AGF appeared through the Director of Public Prosecutions of the Federation, Rotimi Oyedepo, SAN.

Oyedepo informed the court that the AGF decided to assume control of the case to ensure diligent prosecution, adherence to due process, and to strengthen public confidence in the justice system.

He requested time to retrieve and review the case file from the ICPC. The application was not opposed by either the ICPC or the defence.

Allegations

The ICPC had filed a three-count charge against Ozekhome, bordering on alleged forgery and fraudulent property acquisition.

According to the charges, the senior lawyer was accused of receiving a London property located at 79 Randall Avenue, London NW2 7SX, allegedly linked to criminal proceeds. He was also accused of forging a Nigerian passport in the name of “Shani Tali” and using the document to support ownership claims to the property.

Ozekhome has denied all allegations.

Adjournment

After hearing submissions from counsel, Justice Kekemeke adjourned the matter to February 24, 2026, for arraignment under the supervision of the Attorney-General’s office.

The case is expected to draw significant public and legal scrutiny due to Ozekhome’s standing at the Bar and the constitutional powers exercised by the AGF in taking over the prosecution.

The post AGF Takes Over Prosecution of Ozekhome as Court Shifts Arraignment to February 24 appeared first on Housing TV Africa.

As Nigeria’s real estate market expands, land banking has emerged as the most promising investment strategy for long-term wealth creation, according to industry analysts.

Land banking involves purchasing undeveloped land—often on city outskirts—and holding it until its value appreciates due to urbanization, population growth, or infrastructure development. This approach offers high capital gains for patient investors who perform careful due diligence.

“With Nigeria’s population projected to surpass 250 million by 2050, demand for housing and commercial real estate will rise sharply, making land banking a strategic opportunity, especially in rapidly urbanizing areas,” said Oladipupo Clement, a property market analyst.

Other promising real estate sectors include affordable housing, build-to-rent apartments, logistics and warehousing, retail, mixed-use developments, student housing, and co-living spaces.

Imelda Olaoye, founder of Thinkmintsocial, warned investors to consider risks such as title disputes, regulatory delays, and rising construction costs. She advised strategic positioning in government-backed growth zones and diversification across cities and property types.

Key locations for land banking include Lagos (notably Ibeju-Lekki), the Federal Capital Territory (Abuja), Rivers, Ogun, and Enugu states. Ibeju-Lekki has seen significant land-value appreciation due to developments like the Lekki Free Trade Zone, Dangote Refinery, and Lekki Deep Sea Port.

Benefits of land banking include impressive capital appreciation, low maintenance costs, and a hedge against inflation. Investors who act early in infrastructure-backed corridors are likely to enjoy the strongest returns over time.

Clement described land banking as a “sleeping goldmine” for forward-thinking investors who leverage professional advice, monitor infrastructure projects, and remain informed on government policies.

Makoko Demolition Raises Social Justice Concerns

While real estate opportunities grow, concerns persist over urban development practices, highlighted by the recent Makoko demolitions in Lagos. Housing Development Advocacy Network (HDAN) called on the government to balance urban safety with social justice.

“Development should not render residents homeless. A modern city protects both infrastructure and its people,” said Festus Adebayo, HDAN Executive Director. The network urged Lagos authorities to adopt participatory urban planning, provide humane resettlement options, and align compensation with housing and human rights standards.

The intersection of land investment and urban development underscores the importance of strategic planning, community engagement, and sustainable policies in Nigeria’s growing real estate landscape.

The post Land Banking Emerges as Top Investment Destination Amid Growing Real Estate Opportunities in Nigeria appeared first on Housing TV Africa.

Tension is mounting across four major residential estates in Karsana District, Abuja, following the controversial approval of a temporary market within estate boundaries by departments of the Federal Capital Territory Administration (FCTA).

Residents of Mabglobal Estate, Ipent 7, Efab Metropolitan and Efab Queens expressed fear and confusion after individuals were seen marking out spaces for market stalls inside the estates’ perimeter fences earlier this week.

The affected communities, located along the Dawaki–Karsana road corridor, have long battled the proliferation of illegal markets, shanties and drug dens. For years, they relied on the Federal Capital Development Authority (FCDA) to clear such structures due to security concerns.

Under the leadership of the immediate past Director of Development Control, Mukhtar Galadima, illegal markets and shanties around the estates were repeatedly demolished, restoring relative calm. Galadima retired late in 2025.

Residents say the situation changed abruptly on Monday when unidentified persons arrived with security operatives to demarcate areas for a new market, triggering near confrontations with estate security personnel.

When challenged, the group reportedly presented a letter approving the establishment of an “informal market,” allegedly issued by the Department of Urban Affairs under the Abuja Metropolitan Management Council (AMMC).

The approval letter, dated August 20, 2025, with reference number AMMC/ADM/UA/1455, was reportedly signed by the Acting Director of Urban Affairs, Abubakar A. Makama. It granted Fasaha and Sons Global Services Nigeria Limited permission to operate a temporary market near Mabglobal and Queen Estate in Karsana.

The letter stated that since the applicant had completed required payments and was “already on ground,” operations could continue pending the issuance of a formal permit.

However, Vanguard checks revealed that following the demolition of the previous illegal market, no new construction occurred at the site until the letter resurfaced recently.

Residents insist the approval contradicts earlier engagements with FCDA officials. In a joint statement signed by Pharmacist Frederick Okonkwo, President of Mabglobal Estate Association, and Mr Chibuzor Ogbonnaya, Secretary General, the community recalled a 2023 meeting where the proposed relocation of traders to the estate perimeter was unanimously rejected.

According to the residents, the proposal was considered premature, unsafe and a direct threat to security, especially given rising concerns over criminal activities linked to informal markets.

They noted that only weeks earlier, FCDA officials had dismantled a nearby shanty, an action the community welcomed as a step toward improved safety.

“We are baffled and deeply worried that an arrangement previously rejected due to security risks is now being approved,” the statement said.

The residents warned that makeshift markets often become hubs for drug peddling, robbery and other criminal activities, urging the FCT Minister and relevant authorities to urgently halt the development.

They appealed for immediate intervention to preserve peace and protect lives and property within the estates.

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