Monday , 14 July 2014
Ran into a friend yesterday in Lagos. He relocated – part relocation; divides his time between Lagos and NY – to Nigeria two years ago to start a service business. He actually cashed out his 401(k) pension plan and invested it in his Lagos business. Now he wants to expand into another line of service business, and he’s fundraising in Nigeria and... Read more »
Africa is on the move – economic growth is robust, foreign investment is growing and its expanding urban middle classes are creating an internal market of global scale. The continent is actively harnessing its natural resources, but Africa is not just about the commodities boom: growth in manufacturing, technology and telecoms, finance and business services, outsourcing, retailing and hospitality are... Read more »
Further to the steady growth of the Nigerian real estate market, It seems the potentials may become the new oil rig for the country. The real estate sector is beginning to see dedicated capital being raised towards investments. International Private Equity firms and fund managers –Most of them with an emerging market focus, having invested in other such markets as... Read more »
In recent news there has been the talk of Green Building springing up in Nigeria and most especially in Lagos. Identified so far under construction are; the Nestoil ultra-modern office headquarters being built by Julius Berger Nigeria at a cost of N24 billion which will be located on Akin Adesola Street, Victoria Island Lagos and projected completion time frame of... Read more »
For generations, people have lived in the sprawling slum of Makoko on stilts above the lagoon that surrounds Nigeria’s largest city, Lagos. With the aim to bring much needed education to the children of Makoko, Nigerian architect Kunlé Adeyemi designed a school that floats on 256 recycled plastic barrels with support from the UN Development Fund. The three-storey, A-frame structure accommodates... Read more »
We are obviously not going to recover from the frenzy of Nigeria’s Mortgage Refinance Company, NMCR; at least not anytime soon. Since it was launched, no week has passed without an item of news, opinion, report, broadcast or sundry details about it– such is the faith our industry has in the scheme. Experts such as Mr. Hakeem Ogunniran, Managing Director,... Read more »
Before we click glasses in toast to affordable housing and a Fannie Mae-styled mortgage sector, I think Nigeria’s Minister of Finance and coordinating Minister of the economy, Dr. Ngozi Okonjo-Iweala deserves a special mention. She’s such an incurable optimist who exudes a contagious confidence in the plausibility of a healthy mortgage sector; and what it means to the economy. As... Read more »
3INVESTONLINE – One inevitable term at any real estate gathering in Nigeria these days is “Green Building” or “Smart Buildings”, depending on how obfuscating the speaker intends to sound. A number of real estate developers and marketers are also always in a hurry to slam the term on customers’ faces. My interest today is not to define what is “green”.... Read more »
Lagos state generated N185.541 billion in 2010, N202.761 billion in 2011 and N219.202 billion in 2012 making it the highest internal revenue generating state according to data released by the National Bureau of Statistics, this report was signed by Statistician General, Yemi Kale and also the joint tax board. The report shows that Lagos seems to be on a class... Read more »
The Q4 2013 quarterly Rapid-Growth Markets Forecast (RGMF) by global tax and financial advisory firm EY has forecast the GDP growth for 25 rapid-growth markets (RGMs) next year, including Africa’s Ghana, Nigeria, South Africa and Egypt. Globally, the report expects a weak outlook for domestic demand in RGMs, and subsequent weaker trade flows, to drive down GDP growth in these... Read more »