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Rental income still low at 5% – Stakeholders

06.01.2025
The Chief Executive Officer of Casafina Development, Olufemi Seyi, has said rental income in Nigeria is typically low, averaging between 3 and 5 per cent. Seyi stated this at the unveiling of some housing units built by the company in Anthony Village, Lagos, recently. He noted, “Rental income in Nigeria is typically low, averaging between...
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Paucity of funds stalled Ilubirin Foreshore project – Developers

06.01.2025
Ilubirin Foreshore developers have disclosed that insufficient funding delayed the building project. A statement noted that the development sought to silence rumours of abandonment surrounding the project and reignite public interest in the ambitious scheme. It stated, “Initially stalled for years, the project was revitalised during the administration of former Lagos State Governor, Akinwunmi Ambode,...
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Real estate operator demands N50m, others from Customs

06.01.2025
The Chief Executive Officer of Pellican Valley Nigerian Ltd, Babatunde Adeyemo, has demanded the sum of N50m, a car replacement, and an apology letter from the Nigeria Customs Service following his near-death experience with a a trigger-happy customs officer. In a petition to the Comptroller, Nigeria Customs Service, Federal Operating Unit, Zone A, Ikeja, Lagos...
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Illegal connections, others cause 174 electricity-related accidents – NERC

06.01.2025
Illegal connections, wire snap,  vandalism, among others, caused 174 electricity-related accidents nationwide between January and September 2024, the Nigerian Electricity Regulatory Commission stated in its quarterly reports. This represents a significant 38 per cent increase compared to the 126 incidents reported during the same period in 2023, raising fresh concerns about safety standards in the...
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Equity market gained N1.25tn in one week

06.01.2025
The Nigerian Exchange gained N1.25tn in one week as the All-Share Index and Market Capitalisation appreciated by 1.42 per cent and 2.02 per cent, respectively, closing at 103,586.33 points and N63.166tn, respectively. Last week, investors recorded a turnover of 2.618 bn shares worth N69.742 bn in 47,953 deals across the four trading days, as the...
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Winners emerge in Coronation Insurance promo

06.01.2025
Coronation Insurance Plc has unveiled the winners of the first raffle draw in its ‘Insure & Win’ promo. The winners were announced at the live raffle draw held at its corporate head office in Ikoyi, Lagos, recently. The firm said that the promo was designed to reward customer loyalty and increase awareness about insurance in...
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‘Most Lagos buildings lack mortgage insurance’

06.01.2025
The Chief Executive Officer of Adamakin Investment & Works Limited, Afolabi Akindele, has said 90 per cent of this building does not have mortgage insurance. He disclosed this at the 137th remembrance of Iyalode (late Mrs. Efunroye Tinubu) recently in Lagos. He said, “90 per cent of these buildings do not have mortgage insurance, and...
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Housing ministry budgets N6.3bn for road infrastructure

06.01.2025
The Federal Ministry of Housing and Urban Development has allocated N6, 345,650,913 for road infrastructure in its 2025 executive budget, recently presented by President Bola Tinubu. According to the budget details, the ministry’s capital expenditure for 2025 stands at N83.75bn; of this amount, N69.35bn has been earmarked for the construction and provision of fixed assets,...
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Put eligible pensioners on payroll, retirees beg PTAD

06.01.2025
Retirees under the auspices of the Concerned Federal Pensioners have called on the Pension Transitional Arrangement Directorate to ensure that every eligible pensioner is put on the payroll. This is one of the association’s expectations for the new year shared with The PUNCH on Saturday. Retirees in the association have complaints ranging from unpaid pensions...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
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Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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