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Nigeria’s anti corruption agency has disclosed that it has traced 41 properties valued at approximately ₦212 billion to a former Attorney General of the Federation and Minister of Justice, Abubakar Malami. The development forms part of an ongoing investigation into alleged financial misconduct linked to the period he served in public office.

According to the agency, the properties are spread across several locations including Abuja, Kebbi State, and Kano State, and consist of a mix of residential, commercial, and institutional assets.

The Lagos State Government has confirmed plans to demolish the 22 storey Great Nigeria Insurance building on Lagos Island following a major fire incident that severely weakened the structure. Governor Babajide Sanwo Olu made the announcement after an on site assessment of the property, stating that the building is no longer structurally safe.

The high rise, located in the central business district of Lagos Island, was affected by a fire that spread across multiple floors. According to the state government, parts of the structure have already shown signs of failure, raising serious safety concerns for surrounding properties and the general public.

Nigeria’s landmark Lagos to Calabar Coastal Highway has received a major financial boost following the confirmation of a $1.2 billion loan backed by the United Arab Emirates. The funding strengthens the Federal Government’s ability to sustain construction work on one of the country’s most ambitious transport infrastructure projects.

The financing will support the development of a key 56 kilometre section of the coastal highway. This segment forms part of a much larger corridor planned to stretch roughly 700 kilometres along Nigeria’s southern coastline once fully completed.

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Nigeria’s fiscal position showed a widening gap between government revenue and expenditure in the first half of 2025, with the country recording a N5.7 trillion budget deficit. This reflects continuing pressure on public finances as revenue growth struggles to keep pace with recurrent and capital spending obligations.

The data highlights the challenges facing Nigeria’s fiscal management in a year marked by heightened spending commitments alongside modest revenue performance. Analysts say the deficit level underscores the need for stronger revenue mobilisation and more disciplined expenditure control.

Enugu State Governor Peter Mbah has signed the state’s 2026 budget into law, setting out an ambitious fiscal plan anchored on a projected ₦870 billion in Internally Generated Revenue. The signing marks a key milestone in the state’s economic agenda, with the government positioning the budget as a tool to accelerate growth, strengthen public services, and expand Enugu’s productive capacity.

The 2026 budget reflects the administration’s focus on moving Enugu toward a more self sustaining revenue model, reducing reliance on federal allocations while expanding the state’s economic base.

🌍 Global Housing Market Highlights

🇦🇺 Australia: Rental shortages tighten across major cities

Australia’s largest cities are facing some of the lowest rental vacancy rates on record, driven by strong population growth, limited new supply, and higher construction costs slowing development. Rents continue to rise faster than wages, especially in Sydney, Melbourne, and Brisbane.

What this means globally: Migration driven demand is colliding with slow housing supply in many developed markets. Cities attracting talent and population growth are seeing rental stress emerge before ownership markets fully adjust.

🇪🇺 Germany: Higher interest rates cool prices, but demand remains resilient

Home prices in several German cities have softened after years of rapid growth, following tighter lending conditions. However, demand has not collapsed, as buyers increasingly view price moderation as a long awaited entry opportunity rather than a signal to exit.

What this means globally: Price corrections do not automatically mean weak markets. In supply constrained cities, modest price declines can actually bring sidelined buyers back into the market.

🇨🇳 China: Policy support shifts focus to stabilisation, not rapid growth

Chinese authorities are rolling out targeted measures to stabilise the housing sector, including easing mortgage rules and supporting unfinished projects. The emphasis has shifted from reigniting rapid price growth to restoring confidence and completing existing supply.

What this means globally: Governments are prioritising stability over speculation. Housing policy worldwide is increasingly about preventing systemic risk rather than fuelling price booms.

🇫🇷 France: Energy efficiency rules reshape housing demand

Stricter energy performance regulations are pushing older, inefficient homes out of the rental market unless upgraded. This is already affecting supply in major cities, while boosting demand for newer or renovated properties.

What this means globally: Sustainability rules are becoming a market force. Energy efficiency is no longer just a policy goal, it is starting to directly influence property values, rental supply, and investment decisions across global housing markets.HAVE A GREAT DAY 😃

_{^{Produced by: Amarachi Okeke}}