For the past decade Nigeria’s construction industry has remained lively despite the lack of federal building laws. Though a draft National Building Code (NBC) was introduced in 2006, the legislation has been stuck in government limbo since August of that year. As of early 2015, it had yet to be formally endorsed by the National Assembly. While most of Nigeria’s large...
In the last few years Nigeria’s real estate market has expanded rapidly, continuing a decade-long upward trend fuelled by rising per capita incomes, steadily increasing foreign direct investment (FDI), fast urbanisation and strong corporate demand. According to a January 2015 report by CBO Capital, the sector was valued at N6.4trn ($39bn) and growing at 10% a year. Even...
In January 2014, the Nigerian government announced its establishment of the Nigeria Mortgage Refinance Company (NMRC), a state entity that will provide long-term, low-interest financing to local lenders, to encourage them to ramp up their mortgage offerings for end-users. The new firm is the latest in a long line of affordable housing initiatives the government has...
After a decade-long crisis, Côte d’Ivoire was in urgent need investment to both maintain and expand its infrastructure networks. To accelerate the economy’s recovery and jump-start activity, the government awarded a number of no-bid contracts to expedite the tendering process, stating that priority projects needed to be fast-tracked, as happened...
As citizens have begun rebuilding and expatriates have started returning to Abidjan, Côte d’Ivoire’s property market has grown rapidly since 2011. With private initiatives flourishing and public spending on the rise, the market is witnessing genuine developments, but much more will be needed to close a housing gap exacerbated by a decade of...
After a decade of under-investment, Côte d’Ivoire’s construction sector has sustained double-digit growth over the past three years as private reconstruction and public investment continue to rise sharply. With a strong portfolio of public projects, particularly in transport infrastructure and low- to middle-income housing, the demand for construction materials is set to...
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