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Today’s edition looks at the fault lines running through Nigeria’s rental market, from new restrictions in high end estates to the broader policy push around land digitization and security driven regulation.
Alongside the headlines, we track the economic and governance signals shaping housing decisions across major cities, including shifts in investor sentiment, evolving enforcement standards, infrastructure priorities, and the ongoing effort to modernize how property records are created, verified, and traded.
BIRA Implements Indefinite Short-Let Ban Following Security Breach in Banana Island
The Banana Island Residents’ Association (BIRA) has announced an immediate and indefinite ban on short-let apartment rentals within the estate. This policy shift follows a security operation by the Nigeria Police Force, which led to the arrest of eight individuals suspected of involvement in a robbery syndicate operating within the high-brow Lagos community.
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FG Approves 420km Akwanga-Jos-Bauchi-Gombe Highway Dualisation
The Federal Government of Nigeria has awarded a multi-billion Naira contract for the dualisation of the 420-kilometer highway connecting Akwanga in Nasarawa State to Gombe State, passing through Plateau and Bauchi States. This infrastructure initiative is designed to serve as a strategic link between the North-Central and North-East regions, facilitating safer transit and more efficient agricultural commerce.
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Audit Reveals ₦129m Spent on Obalende Underbridge Despite Lack of Visible Progress
Official budget performance documents from the Lagos State Government have revealed that approximately ₦129 million was expended in 2025 for the "Landscaping & Beautification of Obalende Underbridge and Setback." Despite this substantial financial outlay by the Lagos State Parks and Gardens Agency (LASPARK), recent on-site inspections indicate a total absence of physical development or aesthetic improvement at the designated location.
Fiscal Reforms Drive 29.6% Increase in Nigeria’s Federation Account Revenue
Inflows into Nigeria’s Federation Account rose to ₦35 trillion in the 2025 fiscal year, marking a significant increase from the ₦27 trillion recorded in 2024. The Accountant-General of the Federation (AGF), Dr. Shamseldeen Ogunjimi, disclosed these figures during the Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee Retreat held in Enugu on Monday.
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CBN to Convene 304th MPC Meeting on February 24 to Review Interest Rates
The Central Bank of Nigeria (CBN) has officially scheduled its 304th Monetary Policy Committee (MPC) meeting for February 24, 2026. This two-day statutory gathering, which commences on February 23 at the CBN headquarters in Abuja, serves as a critical juncture for the apex bank to evaluate the nation’s macroeconomic health and adjust key policy parameters, including interest rates and liquidity ratios.
USD > NGN | 1,425.19 | Down by 0.59% |
GDP > NGN | 1,951.65 | Down by 0.01% |
EUR > NGN | 1,696.75 | Up by 0.03% |
CAD > NGN | 1,052.02 | Up by 0.02% |
Nigerian Port Operators Halt Capital Investment Amid Concession Renewal Delays
Terminal operators within the Nigerian port system have reportedly suspended further capital and equipment investments due to prolonged delays in securing long-term concession renewals from the Nigerian Ports Authority (NPA). The prevailing uncertainty has prompted several stakeholders to adopt lean operational models and pivot their strategic focus toward emerging greenfield port terminals.
Quote of the day:
“Stability is built less by bold promises and more by steady choices.”
Produced by: Amarachi Okeke
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