Good morning,

Fresh government figures on Nigeria’s housing shortfall headline today’s update, highlighting both the scale of unmet demand and the growing push toward data-driven housing policy.

Beyond that, we examine wider market indicators shaping development decisions, financing conditions, and city-level housing trends.

We appreciate you starting your day with us. We hope this edition brings useful perspective.

Nigeria’s Housing Deficit Now Officially 14.9 Million Units, Says Federal Govt

The Federal Government has officially revised Nigeria's housing deficit to 14.925 million units for 2025, providing a scientific baseline intended to replace years of unverified speculation. The data was presented by the National Housing Data Technical Committee during a session at the 14th National Council on Lands, Housing, and Urban Development. This new figure contrasts sharply with the widely cited, though unauthenticated, estimate of 20 million units previously utilized by industry operators.

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Enugu Govt Slashes Land Rates by 60%

In a move to provide significant relief to residents and investors, the Enugu State Government has announced a sweeping 60% reduction in land related rates and a total ban on all forms of illegal levies across the state. Governor Peter Mbah, represented by the Secretary to the State Government (SSG), Prof. Chidiebere Onyia, unveiled these reforms during a stakeholders’ town hall meeting on land sector development held at the International Conference Centre, Enugu, on Thursday.

Housing Policy Benchmarking: How Nigeria and the UK Tackle Urban Growth

As global urbanisation accelerates, the challenge of providing affordable, sustainable housing remains a central policy concern for both developed and emerging economies. A comparative assessment of the housing policies in the United Kingdom and Nigeria reveals stark contrasts in mortgage maturity, institutional frameworks, and the role of the state, while highlighting shared struggles regarding supply and affordability.

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FCT Strike Update: Residents Groan as Schools and Clinics Remain Closed

Public service delivery across the Federal Capital Territory (FCT) has reached a standstill as primary schools and healthcare facilities remain shut due to the ongoing industrial action by the Joint Union Action Committee (JUAC). The strike, which has entered a second week, stems from unresolved grievances regarding staff welfare, the implementation of the new minimum wage, and the non-payment of accumulated arrears to workers within the FCT Administration (FCTA) and the Area Councils.

CBN Witness Details How $6.23m Was Withdrawn Under Emefiele Using Forged Documents

A prosecution witness, Bashirudden Muhammed Maishanu, has provided detailed testimony before a Federal Capital Territory (FCT) High Court regarding the alleged fraudulent withdrawal of $6.23 million from the Central Bank of Nigeria (CBN). Testifying on Thursday, Maishanu, an Assistant Director at the apex bank, claimed the funds were withdrawn in cash on February 8, 2023, based on forged documents purportedly granting presidential approval for election observer logistics.

USD > NGN

1,445.19

Up by 0.11%

GDP > NGN

1,979.65

Up by 0.05%

EUR > NGN

1,713.75

Down by 0.02%

CAD > NGN

1,061.02

Up by 0.01%

Exclusive: FCTA Exposes Land Racketeering Involving Real Estate Firms in Katampe

The Federal Capital Territory Administration (FCTA) has officially indicted two real estate firms, Rychado Homes and Homadil Realty, over their alleged involvement in a sophisticated land fraud and racketeering scheme within the Katampe Extension district of Abuja. The indictment follows a detailed investigation into the unauthorized sale and development of plots using forged titles and questionable allocations.

Over 500 Lawyers Join Protest at Finance Ministry Over Unpaid ₦4 Trillion Debt

Tensions escalated at the Federal Ministry of Finance on Thursday as over 500 legal practitioners, acting under the aegis of Concerned Lawyers for Probity and Justice, joined indigenous contractors in a mass protest. The demonstrators are demanding the immediate disbursement of an estimated ₦4 trillion owed for completed capital projects across the federation.

Quote of the day:

"What gets measured clearly is what finally gets addressed."

Produced by: Amarachi Okeke

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