As in many developing nations in Africa and around the world, Nigeria’s rural population has declined in recent years as a result of steadily increasing rural-urban migration. While this trend is expected to continue for the foreseeable future, providing public services to rural communities remains a government priority.
In recent years Nigeria has developed into a major market for ICT firms of all stripes. With a population of nearly 170m people – more than a third of whom subscribe to mobile internet services, according to the Nigerian Communications Commission – the country is the largest potential market for ICT products in Africa and one of the fastest-growing in the world. The...
In recent years the construction market in Nigeria has been among the world’s fastest growing, forecast to have expanded by 13% in 2014 on the back of a diverse array of demand drivers, including substantial state investment in infrastructure, rising levels of foreign direct investment and rapidly increasing urbanisation rates. According to the National Bureau of...
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...
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