The Imo State Government has commenced the recovery of illegally acquired government lands across the state, warning that all unauthorized structures erected on such properties will be demolished while those involved in the illegal allocation and sale of the lands will face prosecution.

The warning was contained in a statement issued on Thursday by the Special Adviser to the Governor on Monitoring and Compliance, Nze Chinasa Nwaneri.

According to the statement, the recovery exercise follows earlier public notices issued by the government directing individuals who unlawfully acquired government lands to vacate the affected properties.

The government identified the affected locations as Redemption Estates 1, 2, 3 and 4 belonging to the Imo Housing Corporation, Area P (New Owerri), Area T, Area K (Alaoma Layout), Paradise Layout (Ottamiri North), Ottamiri South, Naze Industrial Layout, Ogbaku Estate Layout, and other government layouts across the state.

Nwaneri said enforcement would commence immediately, stressing that fences, partitions and other unauthorized structures found on the affected lands would be demolished without further notice.

He also warned that individuals involved in forging land documents or engaging in illegal allocation and sale of government lands would be prosecuted in accordance with the law.

According to him, the exercise is aimed at protecting public assets, restoring order in land administration and safeguarding the interests of law-abiding citizens.

The government said the action forms part of its constitutional responsibility to protect the lives and property of residents while ensuring transparency in land administration.

It advised prospective land buyers, developers and residents to verify the authenticity of land titles with the appropriate government agencies before concluding any land transaction to avoid legal complications arising from the ongoing recovery exercise.

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Nigeria’s newly introduced tax law is being described as a game-changer for the real estate sector, with experts highlighting its far-reaching benefits for home buyers, renters, developers, and investors.

One of the biggest advantages is the removal of value-added tax (VAT) on land and residential property sales, including rental transactions. This is expected to reduce overall construction costs and make housing more affordable. “This law creates real cost savings for buyers and renters. Exempting residential property from VAT lowers transaction costs and reduces the burden of rent and purchase,” an industry expert explained.

The law also provides capital gains tax exemptions on the disposal of personal residential properties, creating opportunities for homeowners to save more when selling. Another provision exempts leases below ₦10 million per month from stamp duty, a move that eases the burden on tenants. In addition, benefits in kind (BIK) valuation for individuals has been capped at 20 percent of annual salary, ensuring more predictable taxation.

Developers and construction firms are also expected to benefit significantly. Imported building materials, which form a large part of Nigeria’s construction costs, are now VAT-exempt. “For developers, this is a huge relief. The removal of VAT on input materials will directly lower costs and, by extension, make housing projects more viable,” one stakeholder noted.

Small and local contractors will now pay a lower withholding tax (WHT) of 2 percent, down from 2.5 percent, while foreign contractors will pay 5 percent. For investors and real estate investment trusts (REITs), the law introduces a WHT exemption on dividend distributions, a measure that experts say will attract fresh capital into the sector.

Real estate investors believe the reforms could spark renewed activity in commercial property markets as well. “There will be a significant boost in investor participation because the law eases tax burdens and encourages long-term commitments in real estate,” an analyst said.

Industry leaders also stressed the importance of aligning tax reforms with better land administration. “Real estate in Nigeria is locked-down wealth. If states ensure proper land title registrations, it will improve financial systems, attract investments, and strengthen mortgage insurance,” a developer observed.

The consensus across stakeholders is that the new tax law not only reduces costs for individuals and institutions but also positions real estate as a stronger driver of economic growth. “These reforms are unlocking opportunities that will enhance home ownership, expand mortgage access, and deepen investment in Nigeria’s property market,” another stakeholder emphasized.

The post New Tax Law Offers Relief for Home Buyers, Renters, and Investors appeared first on Housing TV Africa.

Driven by growing demand from high-net-worth individuals, diaspora investors, and a thriving short-let market, luxury properties in areas such as Ikoyi, Victoria Island, and Lekki Phase 1 have witnessed remarkable capital appreciation. In 2023 alone, property prices in this segment jumped by 25 percent, solidifying Lagos as a premium real estate destination in Africa.

The report, published by the Roland Igbinoba Real Foundation for Housing and Urban Development (RIRFHUD), draws on satellite data, field research, and market analytics. It is the third edition in a series that began in 2009 and is regarded as one of the most comprehensive assessments of housing trends in the state.

A key highlight of the report is the average rental yield of 5.5 percent, positioning Lagos luxury real estate as a promising asset class for both local and foreign investors. With over 70 percent of Lagos residents living in rented properties, luxury homes are largely investor-owned, benefiting from consistent returns.

“This evolution has been propelled by major infrastructure projects that have significantly driven land value,” the report stated. “Ocean-view properties, particularly in Ibeju-Lekki and Abijo, now command prices up to 25 percent higher than their inland counterparts due to their location and lifestyle appeal.”

Despite the market’s success, challenges persist. The report notes that Lagos luxury estates often grapple with inadequate public infrastructure, forcing residents to self-fund basic amenities like water, power, and security—adding to the true cost of luxury living.

Dr. Roland Igbinoba, Executive Vice Chairman of RIRFHUD, emphasized the need for policy innovation, particularly in land administration. He urged the Lagos State Government to expedite the completion of the e-GIS digitization project, which would streamline land access, approvals, and licensing across ministries and agencies.

“Solving the land administration bottleneck is crucial,” Igbinoba said. “Once that’s in place, private sector players can explore innovative financing models, such as real estate crowdfunding, non-interest banking, and real estate tokenization, to support affordable housing.”

While the private sector naturally gravitates toward high-return projects, Igbinoba advised the government to provide consistent incentives for developers willing to invest in affordable housing. He stressed that meaningful reform would require strong political will, transparency, and effective execution to balance the booming luxury market with inclusive housing solutions for the broader population.

As the market continues its upward trajectory, stakeholders say striking a balance between profitability and accessibility will determine the long-term sustainability of the real estate sector in Africa’s most populous city.

The post Lagos Luxury Property Market Surges to $7.5 Billion Amid Rising Demand, High Yields appeared first on Housing TV Africa.

Adisa laments the shift from the era when trusted developers and firms let their projects speak for themselves, to a time when flashy promotions and social media theatrics have replaced substance. Back then, purchasing property was a thoughtful process grounded in transparency, not a digital spectacle built on empty promises.

His concerns resonate with many Nigerians today, as real estate becomes more about perception than actual value. “We’ve moved from building homes to selling fantasies,” he suggests. This shift, he argues, is not just dangerous it is deeply exploitative.

Adisa paints a picture familiar to many in cities like Lagos, Abeokuta, and Ibadan: overzealous marketers, often without proper training or credentials, aggressively pitching real estate deals that lack basic infrastructure. According to him, these sellers package undeveloped land as prime property, wrapping them in glossy brochures, drone footage, and exaggerated claims of proximity to nonexistent airports or luxury amenities.

In his view, this spectacle is not merely bad business it’s a systemic problem. Many so-called developers operate on shaky legal grounds, offering “pay small-small” schemes that prey on people’s dreams of owning land. For many buyers, the dream ends in disappointment when allocation fails, documentation stalls, and company contacts suddenly vanish.

Adding to the chaos, Adisa highlights the alarming emergence of pseudo-developers running operations that resemble Ponzi schemes. Promising unrealistic returns and luring investors with glitzy events and celebrity endorsements, these entities prioritize noise over actual delivery.

His reflections raise a critical question: what, exactly, are these firms selling? Often, it’s plots located in remote, undeveloped areas, priced at par with prime urban land. In Adisa’s words, they are selling “possibility,” not property and often, that possibility is a lie.

But he doesn’t stop at criticism. Adisa calls for decisive institutional action. He advocates stricter licensing, monitoring, and sanctions for real estate operators. Regulatory bodies like REDAN and LASRERA, he insists, must rise beyond rhetoric and enforce accountability. Fraud in housing, he notes, is not just theft it is an assault on dignity.

As his piece powerfully concludes, shelter is not a luxury it is a human right. In today’s Nigeria, buying land has become less a transaction and more a test of discernment. He urges buyers to remain vigilant: verify every claim, scrutinize every offer, and look beyond the surface of seductive sales pitches.

Folorunso Fatai Adisa’s essay serves not only as a critique but also as a warning and one the public can no longer afford to ignore.

The post Unmasking Nigeria’s Real Estate Illusion: A Cautionary Look Inspired by Folorunso Fatai Adisa’s appeared first on Housing TV Africa.

Speaking to journalists in Abuja, Yahaya claimed that Eselemo, who originally rented a two-bedroom apartment through his brother and a family agent in 2018, stopped paying rent after the first year. “I was away for medical treatment abroad when he stopped paying rent. When I returned, I found he had remained on the property without my consent,” Yahaya said. “He turned from a tenant to a landlord overnight. He’s erecting new structures, subletting to others, and now claims to own the property.”

Yahaya stated that despite his attempts to report the matter to the relevant authorities, including the Abuja Development Control Department and the police, no action has been taken to stop the encroachment. He said the Development Control officials once visited the property and ordered Eselemo to halt construction, but the order was ignored. “Even when I reported to the police, he refused to honour their invitations and instead sent his lawyer, who insulted the officers,” he said.

Matters took a troubling turn on July 11 when Yahaya was invited to Zone 7 Police Headquarters after Eselemo accused him of impersonating the property’s owner. “Despite presenting evidence of ownership, the police detained me,” Yahaya claimed. “My lawyer was denied access to the complainant, and I was only released after producing sureties and paying money.”

Yahaya further alleged that during a follow-up visit on July 14, officers again threatened him with detention if he failed to produce property documents, which he said were at home. “The IPO and two other officers, who never wore uniforms, demanded money before I was allowed to go,” he said.

He claimed that when police at his request locked the premises to halt further construction, Eselemo returned the same night with his CSO, broke the padlock, and continued building. “It’s like the police are helping him,” Yahaya said. “The officers I reported to are now enabling him.”

Fearing for his safety, Yahaya has appealed to the Inspector General of Police for urgent intervention. “Barrister Faye has sworn to frustrate me because I refused to sell the house to his client. Now, they’ve taken over my property and are collecting rent from tenants as if I don’t exist,” he said.

He said tenants on the property have since confessed that Eselemo presented himself as the landlord and provided rent receipts, which Yahaya claims are now in his possession.

As concerns mount, legal professionals are warning about the broader implications. “If a tenant can weaponize police authority to detain a landlord, we’re staring at a breakdown of the legal process,” said Abuja-based lawyer Usman Yusuf. “The Inspector General must step in. This case is no longer civil—it’s a clear abuse of law enforcement power.”

The post Abuja Landlord Accuses Police of Aiding Tenant’s Attempt to Hijack Property appeared first on Housing TV Africa.

Delivering judgment in a civil suit on July 2, 2025, Justice J.K. Omotosho ruled in favour of two citizens who challenged the EFCC’s practice of painting “EFCC UNDER INVESTIGATION, KEEP OFF” on their buildings, despite no criminal charges having been filed.

“This act is not only unconstitutional but also degrading and unjustified,” the judge ruled. “The EFCC’s actions infringed on the plaintiffs’ rights under Sections 34 and 44 of the 1999 Constitution, which protect dignity and property ownership.”

The court awarded ₦200,000 in general damages and ordered the immediate removal of the inscriptions from the properties. Officials of the court were also authorised to enforce compliance within 24 hours.

Justice Omotosho stated that “investigative powers must be exercised within constitutional boundaries” and insisted that “no agency has the authority to unilaterally declare property under investigation without judicial oversight.”

The plaintiffs, represented by counsel H.A. Kwrabai, had argued that the EFCC’s actions caused serious reputational harm. “This judgment reinforces the principle that the rule of law must always guide institutional conduct,” the lawyer said after the ruling.

The EFCC argued that the markings were a preventive measure to secure the properties during investigations. However, the court dismissed this defense due to lack of judicial backing.

Additionally, the court issued an injunction preventing the EFCC from further defacing or interfering with the plaintiffs’ properties unless a valid court order is obtained.

The judgment is seen as a landmark victory for property rights and due process in Nigeria.

The post Court Rules EFCC Property Markings Illegal, Orders Damages and Removal appeared first on Housing TV Africa.

This directive was delivered by the Commissioner for Physical Planning and Urban Development, Tpl. Olatunji Odunlami, during a high-level engagement with bank representatives at the Ministry’s Conference Hall in Oke-Mosan, Abeokuta.

Odunlami emphasized that every property whether leased or owned used by banks must comply with the provisions of the 2022 Ogun State Planning and Development Permit Regulations. This includes not just their buildings but also installations such as antennas and signal towers, which fall under the state’s Outdoor Physical Furniture Regulation.

He reminded stakeholders that all physical developments whether above ground, underground, or over water—are subject to planning laws and must be regularized accordingly. According to the commissioner, the state has already issued prior notifications, and this gathering was the final olive branch before enforcement begins after the grace period lapses.

Speaking earlier, the Ministry’s Permanent Secretary, Engr. Sakirudeen Salaam, cautioned banks to act promptly, warning that non-compliance could lead to avoidable reputational setbacks for the financial institutions involved.

On behalf of the banking sector, Shamsudeen Oyeneye from Jaiz Bank acknowledged the government’s effort to clarify the process and pledged better cooperation moving forward.

The clock is ticking and the state says it won’t hesitate to act once the 30-day ultimatum expires.

The post Ogun State Government to Banks: Get Your Permits or Face the Bulldozer in 30 Days appeared first on Housing TV Africa.

The crisis started in Okomu and soon spread to neighboring towns. Over 74 houses have been destroyed. Many residents have lost their lives, while others now live in fear.

Leaders Call for Peace

In a recent meeting held in Benin City, Ijaw traditional rulers from Ondo, Edo, Delta, and Bayelsa gathered to find a way forward. They appointed Chief Sunny Ajele to head a new peace committee. The rulers appealed to all sides to stop fighting and work together.

After his appointment, Chief Ajele explained how the situation has worsened. He said earlier attempts to stop the conflict failed. The Ijaw National Congress and other respected voices had stepped in, but the crisis continued.

Waves of Destruction

According to Ajele, attackers burned over 30 houses in Agbede. They destroyed 18 more in Oweike and six in Okorodudu. Armed men also killed several people during the attacks. Security agents now avoid many of the riverside areas due to safety concerns..

A militant leader believed to be behind the violence refused to surrender his weapons when local kings asked him to. Security forces later raided his hideout. They damaged property and killed one of his men. He escaped and later returned to attack those he suspected of exposing him to authorities.

Next Steps for Peace

Chief Ajele blamed the past administration for dividing the communities and making matters worse. He said the new committee will unite the people and partner with security officials to restore peace especially in Okomu, where the trouble began.

He promised to engage all parties involved and find lasting solutions. His message was clear: only unity and truth can end the violence and rebuild the lives destroyed by this crisis.

The post Chaos in Ijaw Land: Lives Lost, Homes Torched as Community Feud Spreads appeared first on Housing TV Africa.

A recent report shows that the real estate market is not growing in a balanced way. There are too many luxury homes, such as villas, and not enough affordable housing for everyday workers. This makes it hard for many people especially the young and low-income earners—to buy a home.

Officials believe several factors are driving prices up. These include the high cost of land, rising prices of building materials, and steep loan interest rates. Speculators are also playing a big role by buying land just to resell it later at a much higher price. This behavior limits the number of homes being built and pushes prices even higher.

To solve this, the government has told agencies to take action. They must create plans to reduce construction costs and increase the supply of housing. There will also be stricter rules to stop people from using land auctions to inflate prices.

Planning must match real needs. Authorities should keep enough land for housing and not give it all away for shops or office buildings. The goal is to make homes more available and affordable.

The problem is already clear in the numbers. In the first quarter of the year, some areas saw land and housing prices rise by 20% to 40%. Experts blame this on rising material costs, loan rates, and limited housing supply due to legal delays.

To make the market more transparent, the government is building a digital platform. This platform will handle all parts of real estate deals—from tax payments to land registrations. It will work like a stock exchange and give people clear price data while also reducing fraud and tax evasion.

Officials also plan to make it easier and faster to approve housing projects. They want to cut down the time and cost of paperwork by 30%, so more projects can start sooner.

With these changes, the government hopes to control property prices, stop speculation, and make housing more affordable for everyone.

The post Govt Moves to Cool Hot Housing Market as Prices Spike appeared first on Housing TV Africa.

The decision, which affects nearly 4,800 properties flagged for non-compliance, comes after the Federal Capital Territory Administration (FCTA) launched a widespread enforcement operation against owners who had failed to meet their statutory obligations for up to four decades.

At a media briefing in Abuja, Chijioke Nwankwoeze, Director of Land at the FCTA, confirmed that the enforcement began on May 26, targeting government bodies, companies, and individuals alike.

He revealed that the presidential intervention provides a 14-day window for affected titleholders to regularize their dues, but not without financial consequences. Penalties of up to ₦5 million will be imposed depending on the property’s district:

₦5 million for properties in the Central Business District,

₦3 million for Maitama, Asokoro, Guzape, and Wuse II,

₦2 million for Wuse I, Garki I, and Garki II,
—all in addition to the original outstanding ground rent.

The issue of unregistered property transfers also came under scrutiny. Individuals who acquired properties without updating ownership records have been given the same two-week deadline to obtain Minister’s Consent and properly file their Deeds of Assignment with the FCT Land Administration.

Meanwhile, FCT Minister Nyesom Wike has reinforced the administration’s stance, urging all property holders yet to pay their Rights of Occupancy or Certificates of Occupancy to do so within the same 14-day period—or risk revocation.

The FCTA says these measures are crucial for maintaining the integrity of urban planning and funding infrastructure development across the capital city.

“We urge all stakeholders to treat this as a final opportunity. Property owners must begin to take responsibility if we are to sustain the pace of progress in Abuja,” Nwankwoeze stated.

This move marks a turning point in the administration’s land policy, blending enforcement with a final olive branch to restore compliance.

The post Tinubu Halts Mass Land Revocation, Grants 14-Day Grace Period for Abuja Ground Rent Defaulters appeared first on Housing TV Africa.