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Effects of Hyperinflation on Nigeria’s Real Estate

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By Dennis Isong

Definition of Hyperinflation: Hyperinflation is an extremely rapid and out-of-control increase in prices, often exceeding 50% per month. Unlike regular inflation, which is a normal rise in prices over time, hyperinflation involves a collapse in the value of currency, causing prices of goods and services to skyrocket.

This economic phenomenon severely erodes the purchasing power of money, leading to a loss of confidence in the currency and creating chaos in the economy.

Causes of Hyperinflation Several factors can trigger hyperinflation, including:

1. Excessive Money Supply:

When a country prints an excessive amount of money without corresponding economic growth, it can lead to hyperinflation.

This often happens when governments finance large budget deficits by creating new money.

2. Loss of Confidence in the country’s legal tender: If people lose confidence in a currency’s value, they may rush to spend it quickly, leading to rapid price increases.

3. Demand-Pull Inflation: When aggregate demand in an economy persistently exceeds aggregate supply, it can cause prices to rise uncontrollably.

4. Cost-Push Inflation:  Increases in the costs of production (such as wages and raw materials) can lead to higher prices. If this happens on a large scale, it can contribute to hyperinflation.

5. Exchange Rate Depreciation: A sharp decline in the value of a country’s currency compared to others can make imports more expensive, fueling inflation.

Effects of Hyperinflation on Nigeria Real Estate

Hyperinflation has profound effects on Nigeria’s real estate sector: 1. Value Erosion: Hyperinflation erodes the value of money, making it difficult to preserve the value of real estate investments. Property owners may find that the real value of their assets decreases over time, even if nominal prices increase.

2. Investment Deterrence:

The uncertainty and instability caused by hyperinflation deter both domestic and foreign investment in real estate. Investors seek stable environments, and hyperinflation creates too much risk.

Nigerians in the diaspora can influence the real estate market by buying properties, driving demand, and potentially stabilizing prices in certain segments of the market.

3. Construction Costs:

The costs of building materials and labor can skyrocket during hyperinflation, making new construction projects prohibitively expensive. This leads to a slowdown in real estate development.

4. Rental Market Impact:

Rent prices can become highly volatile. Landlords may struggle to set rents that keep up with inflation, while tenants may find it increasingly difficult to afford housing.

5. Financing Difficulties:

Hyperinflation disrupts the lending market. Banks may be unwilling to issue long-term loans, and interest rates can become extraordinarily high, making mortgage financing unaffordable for many potential homeowners.

How it Affects Nigerians in the Diaspora Positively While hyperinflation brings significant challenges, it can have some positive effects for Nigerians in the diaspora:

1. Investment Opportunities:

Nigerians living abroad with access to stable foreign currencies can find investment opportunities in the domestic real estate market.

As local property values plummet in real terms, diaspora Nigerians can purchase properties at relatively lower prices, potentially yielding significant returns if and when the economy stabilizes.

2. Remittance Value:

Remittances sent back to Nigeria by diaspora Nigerians can gain substantial value. As the local currency depreciates, the foreign currency received through remittances can go much further, enabling recipients to buy more real estate or other assets.

3. Support for Family and Community:

Diaspora Nigerians can provide crucial financial support to their families, helping them cope with the economic turmoil. This support can include funding for housing, which becomes more pressing during hyperinflation.

4. Market Influence:

With increased purchasing power, Nigerians in the diaspora can influence the real estate market by buying properties, driving demand, and potentially stabilizing prices in certain segments of the market.

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EFCC Invasion Forces Uni. Uyo Teaching Hospital to Suspend Operations (Video)

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Operations at the University of Uyo Teaching Hospital (UUTH) were dramatically disrupted on Wednesday after operatives of the Economic and Financial Crimes Commission (EFCC) allegedly invaded the facility, detained some management staff, and assaulted others, prompting the hospital to suspend services.

The Chief Medical Director of UUTH, Dr. Emem Bassey, told journalists that the unannounced raid created a hostile environment, forcing the hospital management to halt clinical services to ensure the safety of both staff and patients. The Accident and Emergency Unit, however, remains operational.

Dr. Bassey expressed disappointment over the incident, noting that the hospital had maintained cordial relations with the EFCC and was fully cooperating on the matter under investigation. He revealed that the requested report had already been prepared and was awaiting his signature when the operatives arrived.

“The use of force and detention of staff was unnecessary,” Dr. Bassey said. “Dialogue would have resolved this issue peacefully.”

Professor Eyo Ekpe, Deputy Chairman of the Medical Advisory Council, who was reportedly among those assaulted, described the EFCC’s action as an “unprovoked invasion.” He claimed he had shown the team leader the completed report before the situation escalated into violence.

The hospital management has called for an independent investigation into the incident and urged the EFCC to use proper channels when engaging with public institutions.

In an earlier statement, the EFCC said its operatives were attacked and trapped inside the hospital while conducting an operation linked to an ongoing fraud investigation. The case reportedly involves a suspect accused of defrauding multiple microfinance banks in Akwa Ibom State.

The development has raised concerns about the impact on healthcare delivery in the region, with patients and staff caught in the middle of the confrontation between the anti-graft agency and the hospital.

As of Thursday, normal services at the hospital remained suspended pending further resolution.

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FG Jails Ex-minister Mamman 75 years for N33.8bn fraud

Furthermore, the court ordered the forfeiture of various foreign currencies that were recovered from the convict, as well as four choice property in Abuja that were traced to him.

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Former Minister of Power, Saleh Mamman, has been sentenced to 75 years in prison for having stole public funds totalling about ₦33.8 billion.

Mamman was sentenced on Wednesday, 13 May, 2026, by the Federal High Court sitting in Abuja.

The court, in the judgment delivered by Justice James Omotosho, convicted and sentenced him on all 12 counts of fraud and money laundering charges preferred against him by the Economic and Financial Crimes Commission (EFCC).

Whereas he was handed seven years each on 10 counts of the charge, the court jailed him for three years and two years on counts four and five of the charge.

Justice Omotosho held that the sentence should run consecutively without the option of fine except on count four which he allowed the payment of N10 million fine.

Furthermore, the court ordered the forfeiture of various foreign currencies that were recovered from the convict, as well as four choice property in Abuja that were traced to him.

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Senator Oluremi Tinubu Flags Off Menstrual Hygiene Campaign in Benue

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..….Urges support for girl child

The wife of the President of Nigeria and Founder of the Renewed Hope Initiative, Oluremi Tinubu, has launched the “Flow with Confidence” Menstrual Hygiene Campaign Programme in Benue State, with a call for collective action towards empowering school girls through proper menstrual hygiene management and access to sanitary products.

The programme, held at the Old Banquet Hall, Government House Makurdi, was organised under the Renewed Hope Initiative with the theme, “Empowering School Girls through Menstrual Hygiene.”

In her address, delivered by the Benue State Coordinator, Office of the First Lady and Renewed Hope Initiative State Coordinator, Scholastica Ben-Sor, Senator Oluremi Tinubu said no girl should be forced to miss school because she cannot afford sanitary pads.

The First Lady described the situation where girls resort to unsafe alternatives or stay away from school during menstruation as unacceptable, especially in rural communities, stressing that the intervention was designed to restore dignity, confidence and educational continuity for young girls across the country.

She disclosed that the Renewed Hope Initiative would distribute one-year supplies of disposable sanitary pads to 370,000 school girls in rural communities nationwide, with each state and the Federal Capital Territory receiving 10,000 packs for distribution through State First Ladies and RHI Coordinators.

According to her, the initiative is aimed at supporting girls who are unable to afford sanitary products, while also promoting proper reproductive health and hygiene.

Senator Tinubu revealed that the Renewed Hope Initiative expended over N2.5 billion in procuring the customised disposable sanitary pads from a local manufacturing company, Uniglory Nigeria Limited, Ikorodu, Lagos State, and appealed to corporate organisations, agencies and well-meaning Nigerians to support the programme.

She urged Local Government Chairmen and their wives to take ownership of the intervention and ensure that the sanitary pads reach deserving girls in rural communities, warning that the items must not be sold under any circumstance.

The First Lady also called on traditional, religious and community leaders to monitor the distribution process and support efforts aimed at helping girls grow into responsible and informed adults.

Addressing the beneficiaries, she encouraged the girls to remain focused on their education, support one another and never allow stigma associated with menstruation to diminish their confidence.
“I believe in you because you are the future of this nation,” she stated, as she formally flagged off the distribution of the “Flow with Confidence” Menstrual Hygiene Packs.

Earlier in her opening remarks, Hon. Scholastica Ben-Sor welcomed participants to the programme and described the Renewed Hope Initiative as a people-oriented intervention covering health, education, agriculture, social investment and economic empowerment

She urged the participants, especially the wives of Local Government Chairmen, to pay close attention to the message of the First Lady and ensure the intervention reaches vulnerable girls at the grassroots.

Hon. Ben-Sor explained that her office had resolved to sustain the initiative annually in Benue State by complementing the sanitary pad distribution programme to reach more beneficiaries, including girls in government secondary schools, Internally Displaced Persons camps and rehabilitation centres for children with special needs.

In her remarks, wife of the Benue State Deputy Governor, Christy Sam Ode, represented by Hon. Mrs Patience Erube, described menstruation as a natural part of womanhood that should never attract shame or stigma.

She encouraged the girls to carry themselves with dignity and confidence, while paying attention to lessons on menstrual hygiene and self-care.

Different lectures and goodwill messages from health professionals and wives of chairmen of local government areas in Benue State were received at the occasion.

The event also featured an interactive session during which the school girls asked questions and sought clarifications on issues relating to menstrual hygiene, and personal safety, with the keynote speakers providing detailed responses and guidance.

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