
Good morning,
Today’s edition focuses on a major policy signal in Nigeria’s housing sector. The Federal Housing Authority’s announcement of a nationwide affordable housing expansion marks a renewed push to address supply gaps, affordability pressures, and regional housing needs.
Beyond the headline, the move raises important questions around execution, funding structures, and how quickly these projects can translate into real housing delivery. As demand continues to outpace supply in many urban and emerging markets, implementation will matter just as much as intent.
Let’s get into it.
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FHA Announces Nationwide Affordable Housing Expansion to Combat Deficit
The Federal Housing Authority (FHA) has committed to a large-scale delivery of affordable housing units across Nigeria’s six geopolitical zones to mitigate the country’s widening housing deficit. Managing Director and Chief Executive of the FHA, Hon. Oyetunde Ojo, affirmed the agency’s dedication to providing low-cost shelter through revamped construction strategies and strategic land utilization during a recent facility tour and stakeholder engagement.
Ministry of Housing Unveils Standardised Framework for Maintenance and Preservation of Public Assets
The Federal Government of Nigeria has introduced a comprehensive framework and a set of Standard Operating Procedures (SOPs) designed to institutionalize a proactive maintenance culture for public infrastructure. Spearheaded by the Federal Ministry of Housing and Urban Development, through the Department of Federal Public Assets Maintenance (FPAM), the initiative aims to ensure the sustainable and uniform management of federal assets across all Ministries, Departments, and Agencies (MDAs). This move aligns with the mandates of Presidential Executive Order No. 11, which was gazetted on April 6, 2022, to safeguard national investments.
Ekiti State Faces Housing Affordability Crisis as Inflation Drives Sharp Rent Increases
While the Lagos State Government intensifies its "Urban Renewal" drive in the central business districts, residents of several suburban communities are raising an alarm over the deplorable state of their local road networks. The deteriorating conditions have not only crippled local businesses but have also become a significant safety hazard for school children and commuters.
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Forced Evictions in Lagos: Residents Lament Casualties and Loss of Livelihood in Makoko

The Lagos State government has carried out an extensive demolition exercise in the Ilaje Aiyetoro area of Makoko, located within the Yaba Local Council Development Area (LCDA). This operation, occurring in early January 2026, has resulted in the displacement of thousands of residents from the historic waterfront community. While the state government cites urban development and safety concerns related to high-tension power lines as the rationale for the exercise, residents and civil society organisations have raised significant allegations regarding the use of force and the lack of adequate notice.
FX MARKET SNAPSHOT
USD > NGN | 1,469.26 | Up by 0.42% |
GDP > NGN | 1,980.15 | Up by 0.05% |
EUR > NGN | 1,713.75 | Up by 0.00% |
CAD > NGN | 1,059.02 | Up by 0.05% |
Economy Watch
Nigeria Tax Reform: Why 'Nuisance Taxes' Are a Major Threat
According to a report by the Presidential Committee on Fiscal Policy and Tax Reforms, the continued imposition of "nuisance taxes" by various tiers of government is undermining the federal government’s efforts to streamline Nigeria’s tax system. Chairman Taiwo Oyedele highlighted that these fragmented, low-revenue levies create significant compliance burdens for Small and Medium Enterprises (SMEs) and contradict the objective of consolidating over 60 existing taxes into a simplified single-digit structure.
Quote of the day:
“Clarity grows when decisions are measured against impact, not headlines.”
Sector Watch Monday
1. Iddo Bridge to be partially Demolished for Reconstruction by Federal Government
The Federal Government has announced plans to demolish 50 per cent of the Iddo Bridge in Lagos starting next week to facilitate essential reconstruction works. This decision follows technical assessments indicating that the integrity of the bridge section has been compromised, necessitating a complete replacement of the affected spans. The Federal Ministry of Works confirmed that the intervention is part of a broader strategy to ensure the safety and longevity of critical infrastructure connecting the Lagos mainland.
Produced by: Amarachi Okeke
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