In partnership with
Good morning, and And yes, TGIF ☺
We’re closing out the week with a packed lineup of market updates, policy shifts, and industry signals that matter for anyone tracking Nigeria’s housing and real estate landscape.
As we head into the weekend, consider this your quick, sharp briefing to stay ahead. We’ll walk you through what’s moving the market, what policymakers are signaling, and where emerging opportunities might be hiding beneath the noise.
Lagos Real Estate Market Braces for Next Development Wave as State Confirms Talks on New Private Refinery
The Lagos State Government has revealed that discussions are underway for the establishment of a second privately owned refinery in the state, signalling expanding investor confidence in Lagos as Nigeria’s emerging petrochemical and industrial powerhouse.
The disclosure was made by the Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Abiodun Olumide, who confirmed that the state is in active talks with a major private operator. While details remain confidential, the commissioner noted that the project is moving through early planning stages and could significantly strengthen Lagos’ downstream oil and gas profile.
FRC Urges New Estate Surveyors to Uphold Professionalism and Ethical Standards
The Financial Reporting Council of Nigeria (FRC) has called on newly inducted estate surveyors and valuers to adhere to the highest standards of ethics, integrity, and professional competence as they commence their careers, reinforcing the critical role of valuation in national economic development.
Dr. Rabiu Olowo, Executive Secretary of the FRC, addressed the new members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) during their induction in Lagos.
Lafarge Africa Plc Premieres “Beyond Buildings” Campaign
The Beyond Buildings campaign shifts attention from Lafarge Africa’s portfolio of cement and building materials to the wider impact the company has made across the country. It tells the story of how Lafarge has helped shape key infrastructure over the past six decades, from major bridges and cultural landmarks to hospitals, roads, stadiums, and commercial developments.
The campaign positions construction not just as an industry, but as a catalyst for livelihoods, community growth, and long term economic progress.
The headlines that actually moves markets
Tired of missing the trades that actually move markets?
Every weekday, you’ll get a 5-minute Elite Trade Club newsletter covering the top stories, market-moving headlines, and the hottest stocks — delivered before the opening bell.
Whether you’re a casual trader or a serious investor, it’s everything you need to know before making your next move.
Join 200K+ traders who read our 5-minute premarket report to see which stocks are setting up for the day, what news is breaking, and where the smart money’s moving.
By joining, you’ll receive Elite Trade Club emails and select partner insights. See Privacy Policy.
FX MARKET SNAPSHOT TODAY
USD > NGN | 1,493.32 | Up by 0.20% |
GDP > NGN | 1,999.04 | Up by 0.01% |
EUR > NGN | 1,752.52 | Up by 0.01% |
CAD > NGN | 1,083.13 | Down by 0.01% |
Economy Watch
Nigeria’s 2026 Budget Framework Signals Sharp Rise in Borrowing as Revenue Weakens
The Federal Government plans to raise ₦17.89 trillion in new loans to finance the 2026 budget, a 72% increase from the prior year, as declining revenue and a widening fiscal deficit deepen pressure on Nigeria’s public finances.
The borrowing plan, captured in the 2026 Budget Framework issued by the Budget Office and referenced in the Abridged Budget Call Circular of the Ministry of Budget and Economic Planning, outlines Nigeria’s most aggressive debt expansion in recent years. The Federal Government expects the fiscal deficit to reach ₦20.12 trillion in 2026, up from ₦14.10 trillion approved for 2025, even as total available revenue is projected to decline significantly.
Quote of the day:
“Success is walking from failure to failure with no loss of enthusiasm.” — Winston Churchill
Insights Friday: Nigeria’s New Tax Band
📊 New Personal Income Tax Bands and Rates (Effective January 1, 2026)
As part of the Nigeria Tax Act, 2025, the country will adopt a new progressive personal income tax regime beginning January 1, 2026. The updated system replaces the previous tax bands and introduces broader relief measures aimed at easing compliance and supporting lower-income earners.
2026 Tax Bands and Rates
Annual Income (₦) | Tax Rate (%) |
|---|---|
0 – 800,000 | 0% (tax-free) |
800,001 – 3,000,000 | 15% |
3,000,001 – 12,000,000 | 18% |
12,000,001 – 25,000,000 | 21% |
25,000,001 – 50,000,000 | 23% |
Above 50,000,000 | 25% |
Key Changes Under the New Regime
Tax exemption for individuals earning up to ₦800,000 annually.
More progressive structure, with gradual rate increases for higher income levels.
Capital gains will now be taxed using the same progressive bands rather than a separate flat rate.
Consolidated Relief Allowance (CRA) abolished and replaced with a rent relief deduction, allowing taxpayers to deduct the lower of:
20 percent of annual rent paid, or
₦500,000
HAVE A GREAT DAY 😃
Produced by: Amarachi Okeke
Want to get involved with NHM?
Have a confidential news tip or story idea? Email [email protected]
Want to advertise to our readers? Click here to learn more
Someone forwarded this to you? Join the list and subscribe here.
