Across several states, contractors involved in public housing, road construction, and urban infrastructure projects have staged protests over months of unpaid certificates. Many of these firms report completing government approved projects only to face prolonged delays in receiving payment.

For housing contractors, the impact has been severe. Unpaid work has forced several firms to suspend construction on residential estates, abandon partially completed public housing schemes, and lay off workers. Subcontractors and artisans have also been affected, with ripple effects spreading across local economies.

Dr Richard Nyong, Founder and Chief Executive Officer of Lekki Gardens Group, has received another major national honour, marking his fourth recognition in four years and reinforcing his growing profile as one of Nigeria’s most influential figures in real estate and housing development.

The latest recognition places renewed attention on Nyong’s role in large scale housing delivery, urban development, and job creation at a time when Nigeria’s housing deficit and affordability challenges remain acute. Industry observers say the honour reflects not only personal achievement but also the increasing importance of private sector led housing solutions in Nigeria’s development agenda.

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Summary of the Chart

Today’s chart shows a sharp slowdown in Nigeria’s headline inflation rate between October 2024 and October 2025, with the reported figure falling from the mid 30 percent range to around the mid teens.

At first glance, the decline looks dramatic. However, the chart also highlights a key technical shift that matters for interpretation. The steep drop recorded in January 2025 coincides with the change in the inflation base year from 2009 to 2024. This rebasing reset the price index and mechanically lowered the headline rate, creating a visible break in the trend.

After the base year adjustment, inflation continued to trend downward gradually through the rest of 2025. This suggests that while part of the decline reflects statistical recalibration, there has also been a period of relative disinflation over the year.

🌍 Global Housing Market Highlights

🇺🇸 US: Mortgage rates dip as housing demand shows early signs of recovery

Mortgage rates in the US edged lower this week, prompting a modest pickup in buyer inquiries and mortgage applications. While affordability remains stretched, the easing in rates has brought some sidelined buyers back into the market, particularly in suburban and secondary cities.

What this means globally: Housing demand is highly rate sensitive. Even small declines in borrowing costs can quickly revive activity, especially in markets where demand has been delayed rather than destroyed.

🇨🇳 China: Property sales stabilize as policy support intensifies

China’s residential property sales showed signs of stabilisation this week following expanded support measures, including easier mortgage terms and developer financing relief. While the sector remains under pressure, the pace of decline has slowed in several major cities.

What this means globally: Governments are increasingly intervening to prevent housing market collapses. Policy support is becoming a key backstop for real estate systems that are too large to fail.

🇦🇪 Dubai: Luxury real estate demand remains resilient

Dubai’s high end property market continued to record strong transaction volumes, driven by foreign buyers and high net worth individuals relocating to the emirate. Cash purchases remain dominant, insulating the luxury segment from global interest rate pressures.

What this means globally: Safe haven cities with favorable tax regimes and residency incentives continue to attract mobile global capital, reinforcing price divergence between luxury and mass housing markets.

🇪🇺 Europe: Construction activity slows as financing and costs remain tight

Construction output across several European countries weakened this week, with developers delaying new projects due to high financing costs and elevated material prices. Residential supply pipelines are thinning despite persistent housing shortages.

What this means globally: Supply constraints are becoming structural. When new construction slows, housing affordability challenges tend to persist even if demand cools temporarily.

HAVE A GREAT DAY 😃

_{^{Produced by: Amarachi Okeke}}