We are introducing a new periodic deep-dive newsletter focused on Nigeria’s economy and how macro forces like FX, inflation, interest rates, construction costs, and policy shifts are shaping housing and real estate outcomes. Sent around major economic events, this series will go beyond headlines with data-driven analysis, regional implications, and investor-focused insights while our Daily Digest continues as usual.

The Enugu State Government has successfully recovered ₦1.28 billion from Sujimoto Construction Limited, representing a partial refund of funds committed to an aborted residential development project. This recovery follows a legal and administrative dispute regarding a Public-Private Partnership (PPP) intended to deliver 8,000 housing units. Government officials have confirmed that efforts are ongoing to secure the remaining balance of approximately ₦2.3 billion.

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The Federal Mortgage Bank of Nigeria (FMBN) has reported a significant operational milestone, nearly doubling its fourth quarter (Q4) 2025 financial inclusion targets. During a ministerial performance assessment held in Abuja, the apex mortgage institution revealed that it disbursed ₦48.4 billion in housing related financing, far exceeding the ₦25 billion benchmark established by the Central Results Delivery Coordination Unit (CRDCU).

The Lagos State Government has reaffirmed its commitment to bridging its three-million-unit housing deficit by leveraging robust Public Private Partnerships (PPP) and institutional innovation. Speaking during a performance review on 21 January 2026, the Permanent Secretary of the Ministry of Housing, Abdulhafis Toriola, revealed that the administration of Governor Babajide Sanwo-Olu has delivered approximately 11,000 housing units over the last six years, with a strategic roadmap to complete a total of 14,022 units by the first quarter of 2026

A prosecution witness has provided detailed testimony regarding cash transfers in the ongoing ₦1.6 billion housing-related fraud trial involving the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Testifying before the High Court of the Federal Capital Territory, the witness outlined a series of financial transactions allegedly linked to the procurement of properties, highlighting significant irregularities in the management of funds intended for housing developments.

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Escalating construction costs and persistent land accessibility gaps are significantly decelerating the delivery of new housing units across Nigeria, threatening national targets for urban renewal and homeownership. Industry stakeholders report that the dual pressures of inflationary building material prices and bureaucratic land tenure systems have created a supply-side bottleneck that requires urgent policy intervention to prevent a further widening of the national housing deficit.

New from NHM: A forthcoming deep-dive series examining Nigeria’s economy and its growing influence on housing, investment, and development decisions, with data-driven insights timed to major policy and market shifts.

New details from the 2026 fiscal budget have revealed a significant overlap in energy expenditure at the State House, raising questions regarding the efficiency of the Federal Government's transition to renewable energy. According to an analysis of budget documents by Sahara Reporters, the Presidency has earmarked approximately ₦1.989 billion for the fueling and maintenance of generators at the Aso Rock Villa, even as ₦7 billion is allocated for the "solarisation" of the same facility.

The budget line item, listed under "State House Headquarters," allocates ₦1.989 billion specifically for "Plant and Generator fuel cost," with an additional ₦17.2 million set aside for generator maintenance. This brings the total projected expenditure for fossil-fuel-based power at the seat of government to approximately ₦2 billion for the 2026 fiscal year.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has affirmed Nigeria’s trajectory toward sustainable economic recovery during the 2026 World Economic Forum (WEF). Speaking to a global audience of investors and policymakers, the Minister detailed how recent structural reforms and a stabilising macroeconomic environment are positioning the country as a primary destination for foreign direct investment (FDI).

_{^{Produced by: Amarachi Okeke}}