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Dangote Cement has signed an $800 million agreement with Sinoma International Engineering to expand its Itori plant in Ogun State, doubling annual production capacity from 6 million to 12 million metric tonnes. The investment is expected to boost cement availability, support housing and infrastructure development, and reinforce Nigeria's position as a leading cement producer in Africa.
Dangote Cement Signs $800 Million Itori Expansion Deal to Double Production Capacity
Dangote Industries Limited has signed a Memorandum of Understanding (MoU) worth more than $800 million with China's Sinoma International Engineering Co. Ltd. to expand the Dangote Cement plant in Itori, Ogun State. The investment will double the facility's annual production capacity from 6 million to 12 million metric tonnes, reinforcing Nigeria's position as one of Africa's leading cement producers and exporters.
Mortgage Banks Urge MREIF to Fast-Track Sustainable Housing Finance
Mortgage banks have called for the accelerated implementation of the Ministry of Finance Real Estate Investment Fund (MREIF), arguing that the initiative is essential to expanding sustainable housing finance and increasing access to affordable mortgages across Nigeria.
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Lagos Moves to Blacklist Fraudulent Estate Agents in Fresh Crackdown on Property Fraud
The Economic and Financial Crimes Commission (EFCC) has urged the Lagos State Real Estate Regulatory Authority (LASRERA) to strengthen oversight of the real estate sector by introducing a denylist of fraudulent estate agents and developers as part of efforts to curb property fraud and protect investors. The recommendation emerged during a high-level engagement between both agencies aimed at improving collaboration against fraudulent real estate transactions in Lagos.
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Abuja Infrastructure Boom Pushes Rents Higher Across the FCT
Major infrastructure investments across the Federal Capital Territory (FCT) are transforming Abuja's real estate landscape, with improved connectivity and urban renewal projects contributing to rising residential rents in several districts. New roads, bridges, drainage systems and public infrastructure delivered under the ongoing FCT development programme have significantly enhanced accessibility to many communities, increasing their attractiveness to residents, businesses and property investors. As demand grows, landlords are responding with higher rental prices, particularly in neighbourhoods benefiting directly from improved infrastructure.
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Ebonyi Launches Statewide Building Inspection to Prevent Structural Collapse
The Ebonyi State Government has commenced a comprehensive inspection of buildings across the state as part of efforts to prevent structural collapse, enforce compliance with building regulations and improve public safety. The exercise targets buildings under construction as well as completed structures, with officials assessing compliance with approved building plans, engineering standards and development regulations. The initiative follows growing concerns over incidents of building collapse in different parts of Nigeria and the need for stronger regulatory oversight.
Taraba Introduces New Approval Process for Government Land Transactions
The Taraba State Government has introduced a new approval process for government land transactions aimed at strengthening transparency, improving accountability and ensuring better oversight in the allocation, transfer and management of public land.
Quote of the day:
“Progress begins the moment systems replace shortcuts, and accountability becomes the standard.”
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