Senate Passes Real Estate Regulatory Council Bill   The Senate on Wednesday passed a bill to establish the Real Estate Regulatory Council of Nigeria. The council, when established would, among others, curb fraudulent practices to ensure that the real estate business conforms with the National Building Code...

Nigeria Has $900bn Dead Capital In Real Estate, Agric - PWC         Nigeria holds as much as $900 billion worth of dead capital locked up in residential real estate and agricultural land, including federal government’s abandoned properties estimated at N230 billion, said PWC Nigeria. Dead capital refers...

Operators Invest N217.58bn Pension Funds In Real Estate         Pension Fund Administrators have invested N217.58bn in real estate as of the end of the end of September 2020, the National Pension Commission has said. PenCom said this in its third quarter 2020 report. It also disclosed that N54.57bn...

Real Estate, Construction Firm’s Non-performing Loans Now N136.05bn     The total non-performing loans of real estate and construction firms rose by N33.31bn from N102.74bn at the end of 2018 financial period to N136.05bn as of the end of 2019, latest statistics from the National Bureau of...

Real Estate Growth Declined By 1.39% In Q1   Real estate service growth fell from 2.51 per cent in the fourth quarter of 2019 to 1.12 per cent in the first quarter of 2020. The National Bureau of Statistics disclosed this in Nigeria’s gross domestic report for...

Banks’ Credit To Real Estate Drops By N122bn In One Year   Commercial banks’ credit to the real estate sector dropped by N122bn in the last one year, data from the National Bureau of Statistics had shown. According to the NBS data, the credit dropped from the...