The Federal Government of Nigeria has announced it will begin collection of six percent charges from property managers on tenancy and lease agreement. The Federal Inland Revenue Service (FIRS) on Wednesday asked landlords and property agents to charge six percent Stamp Duty on all tenancy and lease agreements they enter into with all leases and […]
Recently, the Lagos State Government sealed over 100 houses in the upscale areas of Banana lsland, Parkview, Bourdillon, Old Ikoyi and Lekki. There were many reasons for the closure of the properties, including contraventions, such as fake approval papers, bastardisation of the operative development plans, falsehood in the design drawings to shortchange the state on […]
The Chairman, Nigerian Institution of Estate Surveyors and Valuers, Adedotun Bamigbola, has said there is need for stakeholders in the real estate sector to work with the government on preventive measures that challenges from heavy rainfall can cause to the real estate sector. He spoke during a webinar on, “2020 rainfall forecast: Impact on real […]
Despite fears of heavy rain predictions for the year, the Lagos State Government has assured real estate practitioners and property investors that the impact on the sector would be low compared to previous experiences. The Special Adviser to the Lagos State Governor, Babajide Sanwo-Olu on Drainage Services and Water Resources, Mr. Joe Igbokwe gave the […]
Despite the fact that the stay-at-home mandate has been lifted, many business owners and property consultants are doing their work from home. The constant stream of COVID-19 new cases, caretaking or homeschooling responsibilities, can make it hard to stay focused on work. Modifying your space can help. Here are five tips for elevating your home […]
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Here is the recording of the Pan-African Real Estate Webinar held on April 22, 2020 to discuss THE EFFECT OF COVID-19 ON REAL ESTATE IN AFRICA: THE IMPACT OF FDI AND PALLIATIVES. We hope you had a fruitful learning experience. Please write your queries to info@niesvlagos.org or send your feedback using the comment form below
The outbreak of the Covid-19 virus and the consequent lockdown of major cities to mitigate its spread will have both short term and medium impact on businesses, both locally and through external pressures. Businesses are no longer operating locally, meaning revenue is not being generated and income is not being earned, works have also grinded […]
Nigeria as a whole has an installed electric generating capacity of 12,522 MW but generates little above 4,000MW which is greatly insufficient for a country of almost 200 million inhabitants. According to World Energy Council through Enerdata the global average electricity consumption for households with electricity was roughly 3,500 kWh in 2010, this would mean the country would […]
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