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Top 10 Reasons to Invest in Nigerian Urban Properties
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By Dennis Isong
A number of reasons have contributed to a significant increase in urban property investment in Nigeria in recent years.
Urban property investing is a desirable potential for both local and foreign investors due to a mix of a rapidly growing population, continual economic developments, and altering demographics.
This article delves into ten persuasive justifications that highlight the possible wisdom of deciding to invest in Nigerian urban real estate.
Several important variables are responsible for Nigeria’s increased interest in urban real estate. First off, there is a growing demand for residential and commercial space due to the country’s rapidly increasing population, especially in urban regions.
Infrastructure improvements, more job possibilities, and a growing middle class are just a few of the current economic factors that are fueling this demand. Furthermore, changing demographics play a pivotal role.
As more young professionals and families seek modern and convenient living spaces, the demand for well-located urban properties continues to rise. The shift towards urbanization is reshaping lifestyles and preferences, making investments in well-designed and strategically located properties a lucrative option.
Nigeria’s favorable investment climate, which includes various incentives and reforms aimed at attracting foreign investors, has also contributed to the increasing interest in urban property ventures.
The government’s efforts to improve the ease of doing business and provide legal protections for investors enhance the overall appeal of investing in urban properties.
A major attraction is also the potential for capital growth and rental revenue.
Due to the great demand for urban properties, they frequently produce consistent rental returns, making them a dependable source of passive income.
Additionally, property values are projected to increase over time as metropolitan areas continue to expand and gentrify, providing investors with the possibility of long-term financial advantages.
Exploring the prospect of property investments within these flourishing locales not only promises the allure of substantial rental returns but also opens the door to significant appreciation in capital value over time.
1) Rapid Urbanization:
Nigeria is currently undergoing a pronounced phase of urbanization, marked by a significant surge in population migration towards urban centers.
This transformative trend is instigating a noteworthy surge in the need for urban real estate, encompassing a diverse array of properties ranging from residential apartments to dynamic commercial spaces, as well as innovative mixed-use developments that cater to the multifaceted demands of modern urban living.
2) Growing Middle Class:
The growing middle class is driving a higher need for contemporary and convenient living spaces, leading to a notable uptick in the urban real estate market for properties.
This trend is being fueled by the desire for improved lifestyles and urbanization, as more individuals seek modern housing options in bustling city environments.
As a result, the demand for well-designed, accessible, and technologically advanced urban properties is on the rise, propelling the real estate market to new heights.
3) Economic Growth:
Nigeria’s bustling urban centers serve as vibrant epicenters of economic vitality, drawing in a myriad of enterprises, innovative entrepreneurs, and ambitious job seekers.
Exploring the prospect of property investments within these flourishing locales not only promises the allure of substantial rental returns but also opens the door to significant appreciation in capital value over time.
4) Infrastructure Development:
Both government initiatives and private sector investments in infrastructure are playing a pivotal role in enhancing the connectivity and accessibility of urban areas. Improved transportation links in these regions often lead to a surge in property demand and an increase in property value.
The collaboration between government efforts and private sector investments has become instrumental in shaping the connectivity and accessibility of urban landscapes.
These initiatives encompass a wide range of infrastructure developments, including the expansion of road networks, the establishment of efficient public transportation systems, and the integration of advanced technologies that facilitate smoother mobility within cities.
As a direct consequence of these advancements, areas that benefit from enhanced transportation links tend to witness a substantial transformation in their property dynamics.
The demand for properties in these well-connected neighborhoods experiences a noticeable upswing, driven by the convenience and ease of movement that improved infrastructure offers to residents.
Moreover, the value of properties in such areas also sees a significant appreciation, as the enhanced accessibility and connectivity contribute to the overall desirability of the location.
This phenomenon can be attributed to several factors.
First, the accessibility provided by well-connected transportation systems attracts both individuals and businesses looking for convenient commuting options.
As a result, the demand for properties in these regions increases, exerting upward pressure on property prices.
Second, improved urban connectivity often leads to an influx of economic activities, which can stimulate local economies and create a virtuous cycle of growth.
This economic vibrancy further enhances the appeal of the area, translating into heightened property values.
5) Diversification:
Real estate investment provides diversification in an investment portfolio. Urban properties offer an alternative asset class that can act as a hedge against inflation and market volatility.
6) Foreign Direct Investment (FDI):
Nigeria’s urban property market is attracting foreign investors looking to capitalize on the country’s emerging opportunities. FDI inflows can contribute to overall market growth.
7) Tourism and Hospitality Boom:
Nigeria’s growing tourism and hospitality sector is driving demand for short-term rental properties, particularly in popular urban destinations. Investors can benefit from consistent rental income.
8) Government Incentives:
Government policies aimed at promoting real estate investment, such as tax incentives and ease of doing business reforms, are creating a favorable environment for urban property investors.
9) Cultural and Commercial Centers:
Lagos, Abuja, and Port Harcourt stand as vibrant cultural and economic epicenters, drawing in inhabitants, enterprises, and visitors.
Placing investments in real estate within these thriving urban cores can lead to significant financial gains due to their dynamic nature and constant appeal to a wide range of stakeholders.
(10) Long-Term Appreciation:
Over time, real estate has demonstrated its ability to appreciate significantly.
As urban centers grow and flourish, there is a strong likelihood that property values will continue to increase due to ongoing development and prosperity. This potential for long-term appreciation makes real estate an attractive investment option.
▪︎Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041
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At Heirs Energies Leadership Forum, Oil and Gas Leaders Unite to Drive Nigeria’s Oil Production Growth
The dialogue affirmed Nigeria’s commitment to increasing production,while maintaining environmental responsibility and leveraging gas as a transition fuel.
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▪︎HEIRS ENERGIES LEADERSHIP FORUM 2025:
L-R: CCE, NUPRC, Engr. Gbenga Komolafe; CEO, Heirs Energies, Osa Igiehon; Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Founder/Chairman, Heirs Holdings and Chairman Heirs Energies, Tony O. Elumelu, CFR; OPEC Board of Governors Chairman for Nigeria & CEO, First E&P, Ademola Adeyemi-Bero; CEO, Seplat Energy, Roger Brown and Executive Vice President, Upstream, NNPC Limited, Udobong Ntia, at the Heirs Energies’ Nigeria Petroleum Industry Discourse which held at the Transcorp Hilton Abuja.
Heirs Energies, Africa’s fastest growing indigenous integrated energy company, hosted its inaugural Petroleum Industry Leadership Dialogue at the Transcorp Hilton Abuja, bringing together public and private sector leaders to accelerateNigeria’s production growth.
Heirs Holdings’ subsidiary, Heirs Energies, convened the forum, moderated by CEO of Heirs Energies, Osayande Igiehon, and which featured distinguished speakers including the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Chief Commission Executive, NUPRC, Engr. Gbenga Komolafe; Chairman, OPEC Board of Governors and CEO, First E&P, Adewale Adeyemo-Bero; Executive Vice-President Upstream, NNPC Limited, Udobong Ntia and CEO of Seplat Energy Plc, Roger Brown.
With a new administration and ambitious targets for production critical for Nigeria’s economic growth, the Dialogue provided a timely venue for private and public sectors to continue the successful interaction, that has already seen Nigeria crude production grow by 25%, since May 2023.
The speakers highlighted how a series of Presidential Executive Orders had radically reshaped the operating environment and catalysed industry growth.
Indigenous oil and gas companies were now responsible for more than 60% of Nigeria’s crude output and the successful indigenisation programme was delivering a bold new chapter in Nigeria’s natural resources history.
Tony Elumelu, Founder and Chairman of Heirs Holdings and Chairman of Heirs Energies, in his opening remarks, paid tribute to the catalytic role that current government had played in reinvigorating the sector.
Mr Elumelu also set out Heirs Holdings’ vision of transforming Africa’s energy landscape, through indigenous leadership and sustainable development.
Heirs Energies, in just four years, had rapidly grown its production from 21,000 to over 50,000 barrels per day of hydrocarbon.
Mr Elumelu also welcomed both public and private sector guests, emphasising the strong spirit of collaboration that underscored the successful indigenisation:
“Production growth, ambitious and sustained, is our shared national mission. I am honoured that Heirs Energies is bringing together distinguished peers from the industry and our partners in government.
As an investor not just in resources, but in Nigeria’s power production and distribution sectors, all of us, need to come together to ensure Nigerians get the benefits of our resources.
As we build Africa’s largest integrated energy business, innovation and collaboration are central to our execution”.
The dialogue affirmed Nigeria’s commitment to increasing production,while maintaining environmental responsibility and leveraging gas as a transition fuel.
Speaking at the forum, Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, applauded Heirs Energies for hosting this inaugural event.
Indigenous oil and gas companies were now responsible for more than 60% of Nigeria’s crude output and the successful indigenisation programme was delivering a bold new chapter in Nigeria’s natural resources history.
“Let me express our gratitude to Heirs Energies for providing this platform for meaningful industry engagement.”
The Minister announced Nigeria’s oil production had reached 1.8 million barrels per day in January 2025 and set an ambitious target of 2.5 million barrels per day for 2025.
He also reaffirmed the administration’s “drill or drop” policy to accelerate production growth.
The Petroleum Industry Leadership Dialogue, which will become an annual event, brought together key stakeholders in the oil and gas industry, including MD of The Shell Petroleum Development Company of Nigeria Limited, Osagie Okunbor; Managing Director of Aradel Holdings, Adegbite Falade and industry veteran and founder of Platform Petroleum & Managing Director A.A Holdings, Austin Avuru, among others.
NUPRC Chief Executive, Engr. Gbenga Komolafe, empahsised the dialogues significance in advancing the sectors objectives,
“I thank Heirs Energies for this beautiful initiative of putting together the Petroleum Industry Leadership Dialogue as a commitment to achieving our national objective in the upstream sector.”
He highlighted the surge in active drilling rigs to 38, with projections to reach 50 by March 2025.
OPEC Board of Governors Chairman for Nigeria and CEO, First E&P, Ademola Adeyemi-Bero, commended the forum’s timing, noting “It’s apt.
It’s early in the year and it’s about how we grow production.
That’s why you see all of us participating.” He shared how indigenous operators have successfully increased production, citing his company’s achievement of 57,000 barrels per day from previously untapped fields.Heirs Energies CEO, Osa Igiehon, reinforced this perspective, showcasing Heirs Energies’ impact in Nigeria’s onshore sector.
“Our success at Heirs Energies demonstrates what’s possible in Nigeria’s onshore sector, through our Brownfield Excellence Strategy, robust security measures, and genuine community partnership,” he said.
“By tripling our producing wells to over 100, we’ve shown how indigenous operators can efficiently unlock value while ensuring sustainable development of host communities.
“The Petroleum Industry Leadership Dialogue also exemplified Heirs Energies’ commitment to Mr Elumelu’s Africapitalism, the private sector’s transformative role in driving Africa’s economic and social development through strategic, long-term investments hinged on partnership and collaboration.
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals.
With a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.
Heirs Energies is a key implementor of Heirs Holdings integrated energy strategy, Africa’s largest integrated energy business, , whose objective is to ensure Africans benefit directly from their continent’s resources.
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Here’s When To Watch Lunar Crescent Across Nigeria on Friday, February 28, according to NASRDA
The last cities to experience the lunar crescent, he said, would be Lagos and Abeokuta between the hours of 6:59 pm to 7:30 pm.
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The National Space Research and Development Agency (NASRDA) said that Nigeria would likely witness its first astronomical lunar crescent on Friday evenings, February 28.
The Director of Media and Corporate Communications of NASRDA, Dr. Felix Ale, disclosed this in a statement, saying that the lunar crescent had been calculated to occur at 1:45 A.M. West African Time (WAT).
He said that the predicted time of 1:45 A.M time, also known as the Crescent Zero hour, would be when the crescent could be seen under perfect atmospheric conditions with the aid of optical instruments like binoculars or telescopes.
“The crescent will become visible to the naked eye in the evening of Friday, February 28, 2025, between 6:17 PM and 7:35 PM across different locations in Nigeria.
“Maiduguri will be the first city to witness the young lunar crescent from 6:17 PM to 6:48 PM, followed by Yola, Adamawa State, from 6:21 PM to 6:51 PM.
“Damaturu, Yobe, will follow from 6:22 PM to 6:53 PM, Kano, Kastina, Jos and Kaduna will experience the first lunar crescent between 6:38 pm and 7:12 pm.
“The sunset and moon set will occur between 6:35 pm and 7:12 pm, 6:38 pm and 7:15 pm, 6:35 pm and 7:11 pm, 6:40 pm and 7:17 pm respectively.
“Enugu will experience the lunar crescent between 6:42 pm and 7:32 pm with sunset and moonset at about 6:42 pm and 7:18 pm,’’ he said.
He predicted that in the FCT, the first lunar crescent would appear between 6:44 pm and 7:15 pm, with sunset and moonset at about 6:44 pm and 7:20 pm.
The last cities to experience the lunar crescent, he said, would be Lagos and Abeokuta between the hours of 6:59 pm to 7:30 pm.
Ale said that other cities across the federation will experience the lunar crescent at different times within the estimated visibility window of 6:17 pm and 7:35 pm on the same day.
He said “For a clear sighting of the first lunar crescent, observers are to use optical aids where necessary, and observe under clear atmospheric conditions.
“Observers are to position themselves in locations with an unobstructed view of the western horizon after sunset.
“He added that the scientific report provided precise predictions on the lunar crescent across locations of the country.
According to him, the report ensured accuracy for those who relied on lunar observations for religious, cultural, and scientific purposes.
The space agency encouraged researchers, scholars, and religious groups to utilise the findings, adding that anyone requiring additional data for further analyses could visit the official office website.
Director, the Centre for Basic Space Science and Astronomy (CBSSA), an activity centre of NASRDA, Dr Bonaventure Okere, said it was regarded as the first stage of the moon, hence the new crescent.
Okere said the appearance of the new crescent was highly significant in the Islamic religion because it was used to determine some rites and practices like the beginning of the Ramadan fast.
“The Islamic religion uses moon phases for their Islamic rites but astronomers study the cycle of the rising and setting of the moon to determine moon days, which is usually 28 days.
“Astronomers use the moon cycle to generate the Lunar calendar, understand the part of the moon you can see daily,’’ he said.
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Kogi State Mourns Loss of Media Icon Prof. Tom Adaba
Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.
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The Kogi State Government has expressed a huge sense of loss following the demise of Prof. Tom Adaba, a pioneering broadcast expert, patriot, and distinguished son of Kogi.
Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.
Prof. Adaba’s legacy is marked by groundbreaking achievements.
He was one of the first Nigerians to earn a Doctorate in Mass Communication, setting a high standard for academic excellence in the field.
His visionary leadership was evident during his tenure as the Principal of the Nigerian Television College, Jos, and as the inaugural Director General of the National Broadcasting Commission.
His work not only transformed the media industry but also laid a strong foundation for ethical journalism and responsible broadcasting across the nation.
In an official condolence message signed by the State Information Commissioner, Mr Kingsley Fanwo, the Kogi State Government described Prof. Adaba as “a media colossus, patriot, and a distinguished Nigerian” whose wisdom and dedication left an indelible mark on the country.
The government extended heartfelt condolences to his family, friends, and the entire media community, urging that his legacy be remembered as a beacon of inspiration.
The statement reads: “We have lost a great media pioneer whose life-long contributions to Nigeria’s broadcasting industry will forever be cherished. May the Almighty God grant him eternal rest and give his loved ones the strength to bear this irreparable loss.”
Prof. Adaba’s passing is not only a significant loss to Kogi State but also to Nigeria as a whole.
His illustrious career and unwavering patriotism will continue to inspire future generations in the realms of media and beyond.
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