Housing Cableng

Housing Ministry, CIoD Strengthen Partnership for Excellence, Corporate Governance In a bid to promote corporate governance and excellence in public service, the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, has expressed his support for the Chartered Institute of Directors (CIoD) Nigeria. During a recent courtesy visit by the Abuja chapter of the Institute led by its Chairperson, Mrs. Nwando Chukwurah, Arc. Dangiwa reaffirmed his commitment to deepening collaboration with CIoD, particularly in line with President Bola Ahmed Tinubu's "Renewed Hope Agenda." Emphasizing the importance of performance-driven culture in both public and private sectors, the Minister highlighted the need for the Ministry of Housing to embrace a customer-centric approach, a key focus of the private sector, to fulfill its mandate of delivering decent and affordable housing to Nigerians. "The ministry will leverage CIoD’s expertise to boost professionalism and effective leadership. This collaboration is vital in delivering on our Renewed Hope Agenda,” Dangiwa added... READ MORE 👉 https://lnkd.in/dKbZHKk2 #ahmeddangiwa #CioD #corporategovernance

4 Key Factors That Drive the Real Estate Market Real estate represents a significant portion of most people's wealth, and this is especially true for people all over the world. According to economic research published by the Federal Reserve Bank of St. Louis, the homeownership rate in the U.S. in the first quarter of 2024 was 65.6%. The size and scale of the real estate market make it an attractive and lucrative sector for many investors. This article looks at four key factors that affect the real estate market and the various real estate investments available. 1. Demographics Demographics are the data that reflect the composition of a population, such as age, race, gender, income, migration patterns, and population growth. Major shifts in the demographics of a nation can have a large impact on real estate trends for several decades. These statistics are an often overlooked but significant factor that can affect how real estate is priced and the types of properties in demand... READ MORE 👉 https://lnkd.in/dpP2sRtv #realestate #realestateinvesting

Concern Over Housing Costs Hits Record High in Rich Countries Dissatisfaction over housing costs has peaked across rich countries, rising above other concerns such as health care and education. Half of respondents in OECD (Organization for Economic Co-operation and Development) countries are dissatisfied with the availability of affordable housing, according to Gallup Analytics figures, a sharp increase since central banks raised interest rates to deal with the worst period of inflation in a generation. While higher rates have helped lower property prices in some European countries, housing remains more expensive than before the pandemic – even before factoring in higher borrowing costs. In the US, housing prices have risen despite rising interest rates. Almost 60% of respondents in the world's largest economy said they were dissatisfied with the amount of affordable housing... READ MORE 👉 https://lnkd.in/dJZMsXc3 #AffordableHousing #globalhousingcrisis #housing

FMBN to Expand Branch Network in High-Prospect Towns for Wider Access …Vows to Fully Deploy Core Banking by Year End In the continuous effort to improve its operations and optimize performance to meet the mortgage provision expectations of Nigerians, the Federal Mortgage Bank of Nigeria (FMBN) has announced plans to expand its network by opening new branches in towns with high business prospects. This announcement was contained in a Communique issued at the end of the Bank’s 2024 Management Retreat, held from August 26th to 29th, 2024, at the Royal Institute for Training and Human Capital Development, Zuma Resorts, Suleja, Niger State. Following the deliberations from the Retreat, the need for the Bank to expand its operations in order to ensure wider access to the informal sector was highlighted. The Communique identified Warri, Onitsha, Zaria and other towns that offer high business prospects as potential locations for the new branches. The Bank also highlighted the critical need for the full deployment of the Core Banking Application platform to drive its processes for operational effectiveness, affirming its determination to conclude the deployment by the end of year 2024... READ MORE https://lnkd.in/dCU-Fait #FMBN #mortgagebanking #shehuosidi

Minister of State, Housing Leads Nigeria's Delegation at Africa Urban Forum in Addis Ababa he Minister of State for Housing and Urban Development, Engr. Abdullahi Tijjani Gwarzo, has led a delegation from Nigeria's Ministry of Housing and Urban Development to the Africa Urban Forum in Addis Ababa, Ethiopia. The forum, centered on the theme "Sustainable Urbanization for Africa's Transformation," brought together African leaders, stakeholders, and experts to explore innovative strategies for sustainable urban development across the continent. In his engagements with participants at the event, the Minister emphasized Nigeria's commitment to tackling urbanization challenges, sharing insights into the Ministry's ongoing initiatives. "Our focus has been on providing affordable housing, improving urban planning, and enhancing the livability of our cities," he stated, highlighting Nigeria's proactive approach to addressing these pressing issues. READ MORE 👉 https://lnkd.in/dCgpHSb7 #TijjaniGwarzo #africaurbanforum #housing

What Nigeria Can Learn from Singapore's Housing Initiative Nigeria is grappling with a severe housing crisis. While the Central Bank of Nigeria (CBN) estimates the housing deficit at 20 million units, the World Bank places it even higher at 28 million. Homeownership rate was put at 25 percent as of 2022. Industry experts say the situation derives from the country’s faulty, unfriendly and obsolete land and housing policies, in contradistinction to what obtains in other countries of the world, especially Singapore, where homeownership rate is as high as 90 percent. Singapore’s land and housing policies have lessons for Nigeria on how to shore up its homeownership rate. Unlike Nigeria, the land policy in Singapore is freehold while housing is funded by the state and made available for the citizens to buy through government moderated mortgage... READ MORE https://lnkd.in/dMDaem9q #singapore #SingaporeHousingInitiative #housing

Housing Scheme Owners in Lagos Receive Certificates of Ownership The Lagos State Government last week Thursday, handed over certificates to owners of its housing scheme, who had completed their mortgage payments. Gov. Babajide Sanwo-Olu said that the state would continue to make home ownership a priority by collaborating with the private sector to provide affordable housing. Sanwo-Olu was speaking at the ceremony organised by the Lagos State Mortgage Board (LSMB) in Ikeja, Lagos, to give certificates to the beneficiaries of the housing scheme. “Today, we celebrate the successful ownership of homes by people of Lagos, who have fulfilled their mortgage obligations. “This is proof of our administration’s commitment to making home ownership a reality for our residents... READ MORE 👉 https://lnkd.in/dccsqVZ3 #lagoshoms #housing #lagos

BUA Blames Middlemen for Inflated Cement Prices The Chairman of BUA Cement, Abdul Samad Rabiu, has attributed the high cost of cement to the exploitation of consumers by middlemen within the supply chain. Rabiu noted that the activities of those intermediaries undermined his company’s policy to maintain a N3,500 per bag price in 2023. He made this disclosure at the 8th Annual General Meeting of the company recently in Abuja. According to Rabiu, while BUA Cement sold over a million tonnes of cement to dealers at N3,500 per bag, intending that the benefits would be passed on to end-users, the dealers sold the cement to consumers at prices as high as N7,000 to N8,000 per bag... READ MORE 👉 https://lnkd.in/dbXZ7vUx #BUACement #cement #inflation

Nigeria's Tile Industry Benefits as Inflation Boosts Local Production For Bright Emmanuel, the manager at De Zervant Ventures in Ikorodu, Lagos, selling tiles is more than just a business—it’s a lens through which he observes the broader economic realities facing Nigerians today.  “Prices don’t lie,” Emmanuel often remarks, “but tiles do.”  This expression encapsulates the challenges he navigates daily, where the fluctuating costs of tiles reflect the shifting priorities of consumers and the far-reaching impact of inflation on the construction industry. As inflation tightens its grip on Nigeria’s economy, Emmanuel has noticed a significant shift in his customers’ purchasing patterns. What was once a straightforward decision based primarily on aesthetic preference has evolved into a complex balancing act involving cost, quality, and safety.  This transformation is not limited to tiles but is part of a broader trend across the building materials sector, where rising prices force both consumers and suppliers to make tough choices... READ MORE 👉 https://lnkd.in/dR9hv8BR #TilingIndustry #buildingmaterials #inflation

Fresh Demolition Threat by FHA Raises Fears of Increased Homelessness in Lagos More Lagos residents currently living in their own houses as landlords may become homeless in the Festac area of the state if the Federal Housing Authority (FHA), owners of the sprawling festival town, makes good its threat of demolishing structures that have integrity concerns. Oyetunde Ojo, the housing authority’s managing director, who gave this hint during an inspection of the on-going rehabilitation work in some parts of the town, disclosed that he would be visiting 6th Avenue to carry out demolition exercises on properties marked by the Authority, noting that “some of the marked buildings are showing visible signs of integrity failure and are on the verge of collapsing.” He stressed that buildings showing visible signs of integrity failure on that Avenue will be demolished, advising the owners to carry out the demolition by themselves so that they can retain their land, because they risk losing the title if FHA undertakes the demolition. Ojo disclosed that the Authority was on a mission to restore the lost glory of the festival town, stressing that “restoring the glory of Festac Town has gone beyond mere rhetoric and will be accompanied by visible actions.” READ MORE 👉 https://lnkd.in/dBQmNNwe #demolition #FHA #lagos