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As Nigeria's cities expand at an unprecedented pace, the gap between housing demand and supply continues to widen, intensifying pressure on urban infrastructure and public services. A new report warns that rapid urbanisation is accelerating the growth of informal settlements and deepening the country's housing crisis, underscoring the urgent need for affordable housing, improved land administration and more coordinated urban planning. The findings highlight the scale of the challenge facing policymakers and developers as Nigeria's urban population continues to grow.
Nigeria's Housing Deficit Widens as Urban Growth Outpaces Development
Nigeria's rapid urbanisation is intensifying pressure on housing supply, infrastructure and public services, raising fresh concerns over the country's ability to provide adequate and affordable homes for its growing urban population. A report published by Development and Cooperation (D+C) warns that the pace of urban growth continues to outstrip housing delivery, contributing to the expansion of informal settlements and widening the country's housing deficit.
Real Estate Among Hardest Hit as Banks Cut Lending by ₦5.4 Trillion
Nigerian Deposit Money Banks (DMBs) reduced lending to eight key sectors of the economy by ₦5.45 trillion, or 14.8% year-on-year, in 2025, reflecting tighter credit conditions following the Central Bank of Nigeria's (CBN) withdrawal of regulatory forbearance. The contraction affected several productive sectors, including real estate, construction, manufacturing, oil and gas, education, information and communication technology (ICT), and general services, according to the latest sectoral credit data from the CBN.
Dangote Offers ₦500,000 Reward Against Illegal Truck Haulage
Dangote Industries Limited has launched a public whistleblower initiative offering a ₦500,000 cash reward to individuals who provide credible information leading to the arrest of offenders or the interception of unauthorised goods transported using the company's branded trucks. The initiative forms part of efforts to strengthen logistics security, protect the integrity of its nationwide transport network and eliminate the illegal commercial use of company vehicles.
The 5 stages of finance grief
Denial that manual reconciliation is acceptable
Anger over the lack of spend visibility
Bargaining with colleagues to submit expense receipts
Depression for the late nights closing the books
Accepting Ramp to skip the first 4
Nigeria's Crude Oil Production Hits Highest Level Since April 2020
Nigeria's crude oil production rose to an average of 1.56 million barrels per day (mbpd) in June 2026, marking the country's highest monthly crude output since April 2020 and surpassing the 1.5 million bpd production quota allocated by the Organization of the Petroleum Exporting Countries (OPEC). According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the increase reflects continued improvements in production stability and operational efficiency across the upstream sector..
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Kogi Ends Roadside Haulage Fees to Improve Goods Movement and Business Efficiency
The Kogi State Government has banned all forms of roadside revenue collection and haulage fees on highways following the implementation of Nigeria's new tax law, a move aimed at improving the ease of doing business, streamlining tax administration and eliminating illegal collections that have increased transportation costs. The directive, announced by the Kogi State Internal Revenue Service (KGIRS), is expected to simplify the movement of goods across the state, including construction materials critical to housing and infrastructure projects.
UTM Offshore Targets September Investment Decision for Nigeria's First Floating LNG Project
UTM Offshore has announced plans to reach a final investment decision (FID) in September for Nigeria's first floating liquefied natural gas (FLNG) project, marking a significant milestone in the country's efforts to expand gas production and monetise offshore gas resources. The announcement follows the execution of a long-term gas supply agreement that provides the project with a critical foundation for financing and future operations.
Quote of the day:
“Progress begins the moment systems replace shortcuts, and accountability becomes the standard.”
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