The Journal

Property news, tips & advice.

Market trends, neighbourhood guides and practical know-how for buyers, renters and agents across Nigeria.

Governor Fashola Launches Home Ownership Scheme for Lagosians

Citing his governments desire to encourage low income Lagos residents to own homes without much stress, the Lagos State Governor, Mr. Babatunde Raji Fashola on Monday 03/02/2014 flagged off the Lagos Home Ownership Mortgage Scheme (LagosHOMS). Mr. Fashola said LagosHOMS is part of his administration's solution towards reducing the acute housing deficit in Lagos State.

Don Okereke Feb 7, 2014 · 3 min read

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NewsFeb 7, 2014

Central Bank of Nigeria Unveils Guidelines for Proposed Mortgage Refinance Company

Sequel to the flagging off, of the newly inaugurated Mortgage Refinance Company (MRC), the Central Bank of Nigeria (CBN) has brainstormed a regulatory and supervisory framework that will guide the activities of the Mortgage Refinance Company. Let me quickly point out that the MRC is analogous to the United State's Fannie Mae.

D Don Okereke 3 min read

NewsFeb 7, 2014

Governor Fashola Heralds Issuance of Electronic Certificate of Occupancy

The Lagos State Governor- Mr. Babatunde Raji Fashola has flagged off the issuance of the e-C of O. The ceremony took place at the Land's Bureau in Lagos State a while ago during which the Governor presented the e-C of O to some sporadically selected beneficiaries.

D Don Okereke 3 min read

NewsFeb 5, 2014

Ogun State Government Initiates Program to Standardize Property Documents

With the introduction of its "Homeowners Charter Program", the Ogun State government is poised to assist property owners in the State who hitherto have no valid land documents, to regularize their property/land documents. The Ogun State Ministry of Urban and Physical Planning asserts that this move will help rebuild the State by providing adequate data for the medium-term planning - provision of hospitals, roads, schools and other public infrastructures to the residents of the state.

D Don Okereke 2 min read

NewsFeb 3, 2014

Lagos State Finalizes Plans to Move Ikeja Computer Village

If feelers from the Lagos State Government is anything to go by, the state is finally poised to relocate the ever popular Ikeja Computer Village to a new site, Katangowa Internet City, somewhere around Katangowa Market in Agbado, Oke-Odo area of Lagos State (Along the Abeokuta-Lagos expressway).

D Don Okereke 2 min read

Buying & SellingJan 30, 2014

Electronic Certificate of Occupancy (e-C of O) in Lagos State - Prerequisites for Obtaining One

We wrote in one of our previous articles that arrangements are in advanced stage by the Lagos State Government to start issuing electronic C of O's to landowners in Lagos State. This step will not only make the process transparent but it will also check the fraudulent activities of unscrupulous estate agents, surveyors and the so-called omoniles. Herein are the required documents needed to obtain the electronic C of O

D Don Okereke 2 min read

InvestmentJan 29, 2014

Why You Need to Think Outside the Box While Investing in Real Estate in Nigeria

There are several factors and considerations that determine where people buy properties from. Just like every human endeavor, location is a key factor that determines the price of a product and the possibility or otherwise of making profit. Conventional wisdom demands that One invests or buys a property from an area that Is already developed or near the city centre. A plot of land or a property in such areas are usually very expensive.

D Don Okereke 3 min read

Home & LifestyleJan 28, 2014

Personal and Residential Security Tips

This is not the best of times for many Nigerians as far as security of lives and properties are concerned. Nigeria's Print and electronic media are continually awash with pockets of terrorism, kidnappings, armed robbery attacks, and many a times, unnecessary show of power (arrogance of power) by some ogas-at-the-top.

D Don Okereke 3 min read

Buying & SellingJan 26, 2014

The Need for Due Diligence Before Buying Property in Nigeria

The wanton incidents of prospective property, land buyers been duped of their hard earned money can be attributed to the paucity of doing a due diligence investigation prior to paying for the envisaged property or parcel of land. This is because many survey plans, deeds of assignment, certificates of occupancy, government allocation letters, and government gazettes bandied about by fraudulent property sellers out there, are forged.

D Don Okereke 3 min read

InvestmentJan 23, 2014

PPP Will Boost Nigeria's Real Estate Sector

I am sure you are wondering what 'PPP' stands for and how it is the panacea to Nigeria's Housing problems. PPP stands for "Private-Public-Partnership". It is a type of business relationship between a government agency and a private-sector establishment geared towards conceptualizing and completing projects that will benefit the public such as Low Cost Housing Estates, public transportation networks amongst others.

D Don Okereke 2 min read

Renting & LettingJan 21, 2014

Is the Lagos Tenancy Law 2011 a Paper-Tiger?

To update our memories and for the interest of those that are not quite conversant with the dictates of the Lagos Tenancy Law 2011, the aforesaid law came into effect in August 2011. It effectively repealed the hitherto Rent Tribunals (Abolition and Transfer of functions) Law 2007. Essentially, this law is aimed at inter-alia, "regulating rights and obligations under tenancy agreements and the relationship between the landlord and the tenant including the procedure for the recovery of premises and for other connected purposes in Lagos state".

D Don Okereke 2 min read

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