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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Nigeria has been ranked among the top 15 African countries with the highest luxury residential rents, with prime four-bedroom homes in Lagos and Abuja commanding an average monthly rent of $3,000.

The ranking was contained in The Africa Report 2026/27 (7th Edition) titled The Ultimate Guide to Africa’s Real Estate Markets, which analysed average monthly lease rates for prime four-bedroom residential properties across selected African countries using data from Knight Frank and Emerging Markets.

According to the report, Nigeria’s luxury rental market is anchored by high-end neighbourhoods in Lagos, including Ikoyi, Banana Island and Eko Atlantic City, as well as Abuja’s premium districts of Maitama, Asokoro and Wuse.

The report noted that demand for luxury homes in Nigeria continues to be driven by high-net-worth individuals, expatriates and corporate executives seeking premium accommodation in secure locations.

Despite challenges in the wider housing market, the report observed that demand for residential properties remains strong due to a persistent shortage of formal housing supply.

It added that although inflation has moderated, rental prices have continued to rise as limited housing stock and increasing demand push more Nigerians towards smaller and relatively affordable homes.

Across Africa, the Democratic Republic of Congo topped the ranking, with prime four-bedroom homes averaging $8,000 per month, driven largely by demand from expatriates, diplomats, mining executives and international organisations in Kinshasa.

Senegal followed with average monthly luxury rents of $7,900, while Côte d’Ivoire recorded $5,200.

South Africa, Morocco and Zambia each posted average luxury rents of $4,500 per month, while Cameroon, Ethiopia and Ghana recorded average monthly rents of $4,000.

Tanzania followed with $3,500, while Kenya recorded $3,100. Egypt and Mauritius matched Nigeria with average monthly rents of $3,000, while Tunisia had the lowest figure among the ranked countries at approximately $2,500.

The report attributed the strong performance of Africa’s luxury rental market to growing tourism, business travel, cross-border investment, expatriate demand and increasing interest from diaspora investors, particularly in major commercial and diplomatic hubs.

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Nine months after a midnight fire razed a residential building in Atabong community, Eket Local Government Area of Akwa Ibom State, Governor Umo Eno has rebuilt a home for a widow and her children who were left homeless by the tragedy.

The inferno, which occurred in the early hours of the night, destroyed a 15-room compound housing several families and properties worth millions of naira. Although no life was lost, the fire displaced residents and plunged affected households into months of hardship.

For Mrs Comfort Eshiet Daniels, a widow and mother, the fire marked one of the darkest moments of her life. With her home reduced to ashes, she and her children were forced to rely on temporary shelter and community support. That painful chapter, however, came to a close with the official handover of a newly rebuilt home by the Akwa Ibom State Government.

The commissioning ceremony, held in Atabong, drew government officials, community leaders and residents who gathered to witness the formal presentation of the completed building to the family.

Representing Governor Eno at the event, the Commissioner for Local Government and Chieftaincy Affairs, Dr Frank Archibong, said the intervention reflected the governor’s compassion-driven leadership and commitment to protecting the most vulnerable citizens.

He noted that the governor’s approach to governance prioritises people over politics, especially those affected by unforeseen disasters.

“This intervention speaks to the heart of this administration,” Archibong said. “Governor Umo Eno believes governance must be felt at the grassroots, particularly by widows, children and families facing hardship.”

An emotional Mrs Daniels expressed deep appreciation to the governor for restoring stability to her household after months of uncertainty. She described the gesture as life-changing and pledged continued support for the administration.

“I had almost lost hope,” she said. “But today, my children and I have a place to call home again. This is more than a building; it is dignity restored.”

The newly completed structure consists of a three-bedroom bungalow alongside seven self-contained apartments, offering improved living conditions, safety and long-term comfort for the family.

Dignitaries present at the event included the Commissioner for Sports, Elder Paul Bassey; Chairman of Eket Local Government Area, Akan Tommy; the Village Head of Atabong, His Royal Majesty Ferdinand Ikwang; and Dr Essien Ndueso, Special Senior Assistant on Research and Documentation, alongside his wife, the spouse of the Paramount Ruler of Eket.

Community leaders praised the governor for what they described as a timely and humane intervention, noting that the rebuilding effort has strengthened public trust in government. Several speakers also pledged continued political support for Governor Eno ahead of future elections.

Residents of Atabong community said while memories of the devastating fire remain vivid, the rebuilt home now stands as a symbol of compassion, responsive leadership and renewed hope.

They added that the governor’s action has sent a strong message that victims of disasters are not abandoned once media attention fades.

Governor Eno’s intervention aligns with his broader social welfare agenda, which focuses on inclusive development, community support and targeted assistance for vulnerable groups across Akwa Ibom State.

As the family settles into their new home, the project serves as a reminder that governance, when driven by empathy, can change lives and rebuild futures long after tragedy strikes.

The post Eno Rebuilds Home for Widow After Akwa Ibom Fire appeared first on Housing TV Africa.

The Transmission Company of Nigeria has announced a planned maintenance exercise that will result in a temporary power outage across parts of the Federal Capital Territory, Abuja.

In a statement issued on Saturday, TCN said the maintenance would be carried out at the Apo 132/33kV Transmission Substation. The exercise is scheduled to take place on Saturday, January 24, 2026, between 9:00 am and 4:00 pm.

According to the company, the planned work will involve maintenance on the 60MVA 132/33kV transformer (3APH TR1) and its associated switchgear at the facility.

TCN explained that during the maintenance period, the Abuja Electricity Distribution Company will be unable to receive bulk power supply for onward distribution to customers in several areas. The affected locations include Gudu District, Gaduwa, Durumi, the Printing and Minting axis, Garki, and surrounding communities.

The company assured electricity consumers that power supply would be restored immediately after the completion of the maintenance work.

TCN also apologised for the inconvenience the outage may cause residents and businesses in the affected areas, urging consumers to make adequate arrangements ahead of the scheduled disruption.

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President Bola Ahmed Tinubu has approved the posting of four ambassador-designates to key diplomatic missions in the United States, United Kingdom, France, and Turkey, marking the first batch of foreign postings following Senate confirmation of nominees last year.

A statement issued on Thursday by the President’s Special Adviser on Information and Strategy, Mr Bayo Onanuga, confirmed the development.

According to the statement, Ambassador Ayodele Oke has been cleared as Nigeria’s ambassador-designate to France, while Colonel Lateef Are has been approved for posting to the United States of America.

Also approved is Ambassador Aminu Dalhatu, a former Nigerian envoy to South Korea, who has been designated as the High Commissioner to the United Kingdom.

In addition, former Kebbi State governor, Usman Isa Dakingari Suleiman, has been named ambassador-designate to Turkey, where President Tinubu is expected to embark on a state visit next week.

The President has directed the Ministry of Foreign Affairs to immediately notify the host countries of the approved postings in line with established diplomatic protocols.

Recall that President Tinubu transmitted an initial list of ambassadorial nominees to the Senate in November 2025, following nearly two years of vacancies across Nigeria’s foreign missions. A supplementary list of 32 nominees was later forwarded.

In December, the Senate confirmed 64 nominees, bringing the total number of confirmed ambassador-designates to 67.

Apart from the four recently approved postings, other confirmed nominees include former presidential aide Reno Omokri, ex-INEC Chairman Mahmood Yakubu, former Aviation Minister Femi Fani-Kayode, and former Oyo State First Lady, Fatima Florence Ajimobi, among others.

The gradual deployment of the ambassadors is expected to strengthen Nigeria’s diplomatic presence and international engagements under the Tinubu administration.

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Nigeria’s real estate market is entering 2026 with renewed investor optimism as growth corridors in major cities are projected to deliver strong rental yields and steady capital appreciation, particularly in mid- to upper-market residential segments.

Strong rental yields and asset appreciation are expected to define Nigeria’s property investment landscape in 2026, as demand continues to outpace supply across key urban centres, analysts say.

Growth corridors in Lagos, Abuja, and Port Harcourt are forecast to generate annual rental yields of between 8 and 18 percent, supported by rapid urbanisation, population inflows, and infrastructure-led expansion.

In Lagos, areas such as Lekki Phase 1, Ajah, and Sangotedo are emerging as prime rental yield zones, driven by improved road networks, proximity to commercial hubs, and strong demand from professionals and expatriates.

Meanwhile, emerging districts including Ibeju-Lekki, Epe, and Ikorodu are attracting long-term investors focused on capital appreciation. Returns in these locations are projected at 10 to 35 percent, buoyed by large-scale infrastructure projects, industrial activity, and land banking opportunities.

High-end neighbourhoods such as Ikoyi, Victoria Island, and Banana Island are expected to maintain their status as safe-haven assets, delivering stable capital appreciation of 5 to 10 percent annually. Although yields in these luxury markets are moderate, demand remains strong among high-net-worth individuals and diaspora investors seeking wealth preservation amid macroeconomic volatility.

Analysts attribute the positive outlook to the momentum recorded in 2025, when the sector benefited from sustained housing demand, largely driven by internal migration, expatriate inflows, and Nigeria’s widening housing deficit—estimated at about three million units in Lagos alone.

“In 2026, investors will continue to favour infrastructure-backed corridors and quality assets that offer transparency, professional management, and sustainability features,” a Lagos-based real estate analyst said.

With inflationary pressures and rising construction costs persisting, investors are increasingly balancing capital appreciation with reliable rental income. As home ownership remains out of reach for many households, demand for rental accommodation is expected to surge, particularly in mid-market locations popular with tech professionals and expatriates.

Infrastructure remains a key value driver. Properties located near strategic projects such as the Lekki Deep Sea Port, free trade zones, new expressways, and rail corridors are projected to appreciate faster than the broader market, with potential gains of 18 to 35 percent above average.

Beyond residential assets, investor interest is also expanding into commercial and industrial real estate. Logistics hubs, warehousing facilities, small-format retail centres, and flexible office spaces are gaining traction, reflecting the growth of e-commerce and evolving work patterns.

Developers, on their part, are shifting construction activity toward emerging suburbs where land availability is higher and entry costs are lower. Areas such as Epe, Ibeju-Lekki, Ikorodu, and Sangotedo are increasingly viewed as the next frontiers for large-scale residential development.

Technology adoption is also reshaping the sector. Developers are embracing PropTech solutions, including digital land titling, GIS mapping, and online property management platforms, to improve efficiency and rebuild investor confidence amid lingering concerns over land fraud.

At the consumer end of the market, demand is tilting decisively toward quality and amenities. Developers are responding by moving away from bare land sales and focusing on purpose-built communities and mixed-use developments that integrate security systems, renewable energy, water recycling, and lifestyle facilities such as gyms, parks, and recreational spaces.

As investors become more discerning, professionally structured real estate firms with documented titles, transparent processes, and strong governance are expected to attract the bulk of institutional and foreign capital in 2026.

The post Growth Corridors Set to Deliver Strong Rental Yields for Property Investors in 2026 appeared first on Housing TV Africa.

The Ondo State Government has declared zero tolerance for land grabbing, warning that individuals involved in illegal land acquisition will face strict prosecution in 2026.

The Ondo State Government has reaffirmed its resolve to clamp down on land grabbing across the state, warning that offenders will be prosecuted without compromise.

Chairman of the state’s Anti-Land Grabbing Task Force and Attorney General, Dr Kayode Ajulo, issued the warning on Saturday following the maiden meeting of the task force held in Akure, the state capital.

In a statement released on Sunday, Ajulo said the government would enforce the Ondo State Properties Protection and Its Documentation Law, 2024, to curb land-related crimes across the state’s 18 local government areas.

He noted that 2026 has been declared a decisive year in the fight against land grabbing, stressing that the grace period granted to offenders expired in 2025.

“There will be zero tolerance for land grabbing activities across Ondo State. Anyone involved should understand that this year will be different,” Ajulo said.

According to him, the task force has compiled the names of individuals identified through investigations as being deeply involved in land grabbing and other related illegal activities.

“In 2026, we are going all out against them. The law will be enforced strictly and without compromise,” he added.

Ajulo warned that illegal land sales, multiple sales of the same land by owning families, intimidation of lawful landowners and forceful land acquisition would no longer be tolerated.

He said anyone found guilty of such offences would be arrested and prosecuted in line with existing laws.

The Attorney General commended Governor Lucky Aiyedatiwa for addressing land-related fraud through the enactment of the Ondo State Properties Protection and Its Documentation Law, which criminalises land grabbing and provides a legal framework for protecting property owners.

Meanwhile, tensions over land disputes have continued to surface in parts of the state. In December, farmers from the Oluwa Forest Reserve in Odigbo Local Government Area protested alleged harassment and intimidation by suspected land grabbers.

The farmers, who marched to the Governor’s Office, claimed the alleged attacks had prevented them from accessing farmlands legally allocated to them by the state government.

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The Nigerian Navy is facing accusations of disregarding court orders as it continues construction on a disputed land in Lagos, despite an ongoing legal battle and a clear injunction.

A High Court in Lagos State, sitting in Epe, has adjourned the case to March 2, 2026, after the claimants sought an interlocutory injunction to halt further development on the contested land.

This legal dispute stems from two separate suits filed by Al-Gasali Global Ventures Limited and the Incorporated Trustees of Lekki Coastal Area Development Association against the Nigerian Navy and the Chief of Naval Staff.

The cases concern a large parcel of land located in Origanrigan, Oshoroko, and parts of the Lekki axis in Ibeju-Lekki Local Government Area.

The claimants allege that the Nigerian Navy, despite being served with court orders to cease activities, has continued to occupy and develop the land. Court documents reveal that despite the defendants entering their appearance and filing responses, construction activities have persisted, prompting the claimants to seek an interlocutory injunction to restrain further development until the final determination of the case.

Legal Background of the Dispute

The dispute dates back to 2024, when the plaintiffs filed their suits—EPD/15767/2024 and EPD/15769LMW/2024—claiming that the land in question is part of 375.019 hectares, allocated as compensation to affected communities under the Lekki Coastal Area Development project, following a compulsory acquisition by the Lagos State Government.

According to the claimants, they hold a Certificate of Occupancy (dated June 8, 2014) and a Deed of Gift in favor of Al-Gasali Global Ventures Limited, which owns a portion of the disputed land (about 66.102 hectares).

The claimants assert that the Nigerian Navy forcefully entered the land on July 23, 2024, and began developing the site, erecting structures, and destroying existing buildings and markers. They further allege that the Navy’s personnel intimidated workers and community members who questioned their presence.

Despite the court granting interim injunctions in August 2024, restraining the Navy and its officers from any further construction, the claimants argue that the Navy’s actions continue to violate these orders, causing irreparable harm to their possession and rights.

Court’s Response and Upcoming Hearings

In response to the claims, the High Court, presided by Justice Animahun, ruled in favor of preserving the status quo to prevent further damage. This resulted in the renewal of interim injunctions throughout late 2024 and 2025, aiming to halt further construction activities on the disputed land.

At the last hearing on December 15, 2025, the claimants’ counsel informed the court that the Nigerian Navy had continued construction despite the interim orders. The claimants now seek a more permanent restraining order to prevent further interference with the land until the full trial concludes.

The case will now be heard again on March 2, 2026, when the court will review whether a formal restraining order should be issued to stop the Navy’s ongoing actions.

Land Dispute Continues to Attract Attention

This land dispute remains a high-profile issue, with legal teams on both sides preparing to argue whether a more permanent injunction is warranted. The ongoing legal battle highlights the tension between military institutions and private landowners, particularly as the Nigerian Navy’s actions continue despite judicial intervention.

As the case progresses, all eyes will be on the court’s upcoming ruling, which could have lasting implications for the management of disputed lands and the enforcement of court orders in Nigeria.

The post Nigerian Navy Continues Construction on Disputed Land Despite Court Injunctions appeared first on Housing TV Africa.

The Office of the Attorney-General of the Federation (AGF) has directed the Nigeria Police Force to investigate reports of intimidation and property destruction at River Park Estate, Abuja.

The directive follows months of legal proceedings and arises amid high-profile disputes involving Nigerian and Ghanaian parties.

According to correspondence from the then Director of Public Prosecutions (DPP), M.B. Abubakar, reviewed by Nairametrics, no prima facie evidence was found to support earlier forgery allegations against Mr. Samuel Esson Jonah, Mr. Kojo Ansah Mensah, Mr. Victor Quainoo, and Mr. Abu Arome, Esq.

The AGF criticized statements by the IGP Monitoring Unit and police officials that publicly declared certain individuals as “owners” or “managers” of the estate, stressing that the police lack jurisdiction to adjudicate ownership disputes or contractual matters.

While dismissing forgery claims, the AGF acknowledged complaints of criminal intimidation and property damage allegedly carried out by thugs acting on directives from Paul Odili. Police have been instructed to ensure security at the estate, safeguard residents, and allow peaceful enjoyment of the property.

Additionally, the AGF directed the Corporate Affairs Commission (CAC) to rescind administrative actions based on discredited reports from the IGP Monitoring Unit. Court proceedings related to the estate remain ongoing before the High Court of the Federal Capital Territory, Abuja.

This development underscores growing scrutiny of land and property disputes in the FCT and highlights the AGF’s constitutional authority to withdraw criminal charges when appropriate.

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Nigeria’s real estate sector entered 2025 with strong optimism, driven by rapid urbanisation, renewed infrastructure investment and rising demand for housing across major cities.

However, as the year unfolded, chronic funding shortages emerged as the defining challenge, reshaping the pace, structure and outcomes of property development nationwide.

Despite sustained demand from a growing population and expanding urban centres, access to affordable capital remained a major constraint for developers and investors.

High interest rates, delayed mortgage disbursements and limited long-term financing slowed construction activities, stalled projects and forced many developers to scale back ambitious plans.

Medium- and large-scale developers, in particular, struggled to balance rising costs with tightening credit conditions, eroding profitability and dampening investor confidence.

The funding squeeze was worsened by sharp increases in the cost of building materials. Inflation, import dependence and logistical bottlenecks pushed prices higher, significantly raising construction expenses. Industry estimates show that building materials account for between 30 and 50 per cent of total project costs and influence up to 80 per cent of construction timelines.

With most materials—aside from cement—imported, developers were exposed to exchange rate volatility and escalating landing costs, further straining budgets.

Private control of the building materials market also amplified price instability, as supply-and-demand pressures and the activities of middlemen drove up costs.

Experts argue that treating building materials purely as market commodities ignores housing’s status as a basic social need, calling for stronger government intervention to stabilise prices and improve local production capacity.

Location-related costs added another layer of complexity. Construction in peri-urban and rural areas proved significantly more expensive due to transportation challenges and limited proximity to manufacturing hubs.

This disparity discouraged development outside major cities, reinforcing congestion in urban centres and deepening regional housing inequalities.

The combined effect of limited funding and rising costs had far-reaching implications. Affordable housing projects suffered setbacks, project completion timelines were extended, and the risk of abandonment increased. In some cases, cost pressures encouraged the construction of substandard buildings, while rent prices surged as housing supply lagged behind demand.

Government interventions offered some relief but fell short of resolving structural financing challenges. While federal and state initiatives focused on affordable housing delivery, mortgage access remained uneven.

Stakeholders raised concerns about delays and bottlenecks in mortgage disbursement under existing schemes, warning that weak oversight could undermine long-term housing finance reforms.

Meanwhile, 2025 also witnessed a surge in demolitions, particularly in Lagos and parts of the Federal Capital Territory, further tightening housing supply.

The removal of allegedly illegal structures, combined with slow project delivery, intensified accommodation shortages and pushed property values higher in high-demand areas such as Lekki, Ikoyi, Victoria Island and prime districts in Abuja.

Yet, amid the constraints, the sector showed resilience and adaptation. Developers increasingly turned to technology, with smart home features and virtual property tours becoming more common, especially in upscale estates.

Mixed-use developments gained traction, while logistics hubs, data centres and residential properties continued to attract investment interest. Government efforts to digitise land registries and improve transparency also signalled gradual progress.

Industry leaders described 2025 as a transitional year—one marked by innovation and survival rather than rapid expansion.

While the sector continued to contribute significantly to employment and GDP, stakeholders agreed that sustainable growth hinges on improved access to long-term, low-cost financing, clearer land policies, stronger regulation and continued infrastructure investment.

As Nigeria looks ahead to 2026, experts believe that sustained reforms, better mortgage supervision and deliberate government intervention in land and infrastructure provision could help unlock institutional capital and restore confidence.

Until then, funding shortages will remain the central force that reshaped Nigeria’s property market in 2025, defining both its struggles and its cautious resilience.

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