Nigeria Property Market

Nigeria’s President Muhammadu Buhari signed the agreement for the African Continental Free Trade Area (AfCFTA) Sunday, fulfilling a promise he made earlier in the week.

Nigeria signs AfCFTA

Nigeria’s President Muhammadu Buhari signed the agreement for the African Continental Free Trade Area (AfCFTA) Sunday, aimed to increase trade between African countries. ... Full story

Planned to be launched by 2020, West Africa nations adopted name 'ECO' for the single currency

West Africa bloc adopts name 'ECO' for the single currency

Leaders of the member states of the Economic Community of West African States, known as ECOWAS, formally agreed on Saturday to name a planned common currency the "ECO". ... Full story

Eko Atlantic is a multibillion dollar residential and business development that is located as an appendage to Victoria Island, and along the renowned Bar Beach shoreline in Lagos.

Real estate projects changing Nigeria’s landscape

When it comes to real estate projects in Nigeria, pundits within the property space are optimistic that 2019 will experience a major boost in africa's largest populous nation. ... Full story

The African Continental Free Trade Area (AfCFTA) agreement, has been hailed as a game-changer for intra-African trade.

Africa's Free Trade zone to ease the cost of doing Business

Last month, the African Continental Free Trade Area (AfCFTA) finally came into being, opening the way for a continent-wide market of 1.2 billion people worth $2.5 trillion. ... Full story

President Muhammadu Buhari has so far refused to join the trade zone, which came into force last month and is meant to eliminate most tariffs to create a single market with free movement of goods and services.

Nigeria to deliberate on Africa's Free Trade Area Agreement

Nigeria said will be guided by interests of its industries in taking any decision on the agreement establishing the African Continental Free Trade Area (AfCFTA). ... Full story

Zandile Makhoba, Head of Research for Sub-Saharan Africa, JLL, confirms various sectors have seen minimal growth this year, with rental rates for both retail and office space hovering around the same levels as last year.

Slow momentum building in West African property markets

JLL’s 2018 City Reports for Accra and Lagos confirm minimal growth across real estate sectors in these West African commercial capitals, with cautious indicators that the impetus is shifting, particularly in Ghana. ... Full story

Sun International has as hinted on an imminent exit from Nigeria by selling off its shares in Federal Palace hotel in Victoria Island, Lagos.

SA based hotel group hints at imminent Nigeria exit

Sun International has become the latest South African business to pull out of Nigeria because of weak economic growth and clashes with shareholders in the west African country. ... Full story

Various large Listed South African funds feel African real estate is a long term game hindered by weak laws. They need recourse if something goes wrong.

Investors spooked by Property Regulations in Africa

The African real estate market needs stronger regulations and a more reliable rule of law in order to attract investment in the continent — Africa Property News.com has learned. ... Full story

There is evidence that tables have turned, and the property rental market has decidedly in the tenant's favour, said Ortneil Kutama, Africa Property News Media Director.

Landlords feel the pinch as Nigeria’s economic slump deepens

There is still no respite for property owners in Nigeria. The sluggish economic growth for the last few months does not bode well for rental market. ... Full story

Nigeria’s economy fell into recession in Q2, contracting 2.2% annually (Q1: -0.4% year-on-year). Falling oil production mainly caused the slump, as attacks by militants on oil-related infrastructure caused output to plunge.

Interest rate cuts not enough to pull Nigeria out of recession

Lagos - Interest rate cuts alone will not help to pull Nigeria out of a recession amidst rising inflation, the country's central bank said on Wednesday. ... Full story

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