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Lagos short-term rental market hits ₦281bn revenue in 2025
The short-let rental market in Lagos generated ₦281.03 billion in revenue in 2025, highlighting the rapid expansion of flexible accommodation services in Nigeria’s commercial capital, according to a new market report.
The findings, released by Edala Homes, show that the short-let segment continues to grow as demand from business travellers, tourists, expatriates, and local professionals drives increased occupancy across key neighbourhoods. The report analysed 5,806 short-let property listings, with data sourced from AirDNA and Edala Homes’ internal tracking.
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Wike Pledges Water Supply and Infrastructure Upgrades for Zuba, Gwagwalada Communities
Nigeria’s Minister of the Federal Capital Territory (FCT), Nyesom Wike, has pledged to provide clean water to Zuba community and expand infrastructure across Gwagwalada Area Council in Abuja. The commitment came during a stakeholder visit to the council following the recent FCT area council elections.
The minister stated that addressing basic infrastructure gaps including potable water supply and critical public works remains a priority for the FCT Administration as it seeks to improve living conditions in satellite communities around the capital.
Nigeria Rail Transport Earns ₦7.77bn as Passenger Traffic Hits 3.89 Million in 2025
Nigeria’s rail transport system generated ₦7.77 billion in passenger revenue in 2025, as 3.89 million commuters travelled across the country’s railway network, according to data released by the National Bureau of Statistics (NBS).
The figures highlight the growing role of rail transport in Nigeria’s mobility landscape, supported by ongoing investments in railway infrastructure and increased demand for alternative transportation options amid rising road transport costs.
Senate Approves ₦1.75 Trillion 2025 Budget for Niger Delta Development Commission
Nigeria’s Senate has approved the ₦1.75 trillion statutory budget for the Niger Delta Development Commission (NDDC) for the 2025 fiscal year, allocating the majority of the funding to development projects across the oil-producing Niger Delta region. The approval followed the presentation of a report by the Senate Committee on NDDC during plenary in Abuja.
The spending framework prioritises infrastructure, social services, and economic development programmes aimed at improving livelihoods in the region, which remains central to Nigeria’s oil and gas economy.
Petrol Still Sells Near ₦1,300/Litre Despite Dangote Refinery Price Cut
Petrol prices across Nigeria remain elevated at around ₦1,300 per litre despite a ₦100 reduction in the gantry price by Dangote Petroleum Refinery, reflecting persistent pressure from global oil market volatility and domestic distribution costs. The refinery lowered its ex-depot price to ₦1,075 per litre following a decline in international crude oil prices, yet retail prices have not fallen proportionally at filling stations nationwide.
The development highlights the complex pricing structure of Nigeria’s downstream petroleum market, where wholesale adjustments often take time to translate into lower pump prices.
Quote of the day:
“Progress rarely comes from waiting for perfect conditions. It comes from taking the next step.”
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