Global Realty Portal

The Federal Government has spent N350bn on road projects in the South-West in the last four years, an amount it says is the highest among the six geopolitical zones. According to the government, 46.6 per cent of projects awarded by the present administration since it took over in 2011 have been completed and appreciable progress recorded in others. The Minister of Works, Mr. Mike Onolememen, stated this during a radio programme monitored by our correspondent in Abuja. He said, “All over the country, the Jonathan administration has completely changed the narrative in the road sector. From the North-East, where we are investing over N320bn in road infrastructure, to the North Central where we are investing about N300bn; the North-West, where are investing N200bn, the South-East, where we are investing N345bn; to the South-West, where we are investing close to about N350bn; and to the South-South, where we are investing about N250bn, the whole country has virtually been turned into

In a bid to ensure a successful implementation of the National Integrated Infrastructure Master Plan, the Federal Government has identified four options, including the pension fund, to finance some priority projects contained in the plan in the next five years. The funding options are contained in the NIIMP document, a copy of which was obtained by our correspondent in Abuja on Friday. A total of $140bn will be generated for the project through the four funding sources, according to the document. The report showed the bulk of the funds would come from government loans, which could finance up to $76bn; the government budget would be expected to provide $31bn of the infrastructure projects. The document also indicated that other government-controlled sources such as the Sovereign Wealth Fund or pension fund would offer $13bn of the financing while the Public Private Partnerships would be developed to offer between $15bn and $20bn from the private sector. The NIIMP, which is a

Thousands of people gathered outside City Hall on Saturday to demand Boris Johnson urgently tackle the lack of affordable housing in the capital and curb the spiralling rents that they warn are “ripping the heart” out of London. An estimated 2,000 encircled the building and urged the mayor to tackle the burgeoning housing crisis by building more council homes, control private rents and called off the proposed demolition of properties on up to 70 London estates. The crowd marched in boisterous spirits, confident that they can make the increasingly divisive issue of housing a genuine general election battleground. Reduced benefit cap would 'force large families out of the south-east' Leading the march as it crossed Tower Bridge in driving rain was Jasmin Stone, from Newham in east London, who chanted “social housing not social cleansing” with her friends. The 20-year-old single mother said skyrocketing rents and unscrupulous landlords had already forced a n

Nigerians have knocked the Federal Government for its fresh promises which include generating 10,000 megawatts of electricity by 2016. The public criticisms followed a statement made by the Minister of Power, Prof. Chinedu Nebo, that the Federal Government had shifted its earlier target of generating 6,000MW of electricity before the end of 2014 to this year. Nebo also said the Federal Government expects to GET up to 10,000MW by 2016 and 12,500MW by 2017. In reaction to the statement, a cross section of Nigerians who spoke to Power Talkback, expressed disappointment with government’s failure to ensure stable power supply in the country or keep to its promise of 6,000MW by the end of 2014, at the very least. Some of the respondents also accused the Federal Government of continually shifting its targets in the power sector. Meanwhile, a report published earlier this week said the country was currently losing 2,042.2 megawatts of electricity due to gas supply shortage and poor

PHPAC is an acronym of "PWAN HOMES PROPERTY ACCESS CONSULTANT'S ESTATE" & is powered by PWAN HOMES LTD(Property World African Network) Located in Eleranigbe, Ibeju-Lekki LGA. PHPAC Estate is about 12mins drive from Pan Atlantic University {P.A.U} and 13 mins drive from Eleko Junction. Plot size : 675 Sqm  or (60ft by 120ft) Prices : N450,000 per plot Outright payment.(Installment options available.) Type of land : Sandy & totally dry land. Title : Survey plan, Deed of Assignment, Gazette out soon. Unique Features : Parks & Gardens, laid out plots,Gated Community & Free from OMO-ONILES' interference. Neighborhood : The new International airport, Permanent site Pan Atlantic University, Lekki free trade zone, Sea port, Two Gulf Courses & several up coming Gated Estates. Offer closes 31st Jan. 2015(Limited plots applies) Also available are: 1.Lekki Villas, Bogije@N1,500,000=/plot. (Installment :N1,800,000= Document: Survey & deeds.

He’s in his third year at university, studying hard ahead of his final exams this year – but, unlike other students, Jonathan Pearson will graduate with a profit, not a student debt. He is not from a wealthy background but stands to make at least £30,000 after buying a home, rather than renting while at college. Most other homebuyers struggle for years to find the necessary deposit, with Halifax reporting this week that the average age of a first-timer has now topped 30. But Pearson did not even have to put down a deposit, managing to obtain a 100% loan from a reputable building society. At the age of 20 he was granted a £183,000 mortgage by Bath building society to buy a three-bed home in Chelmsford, Essex, where he has been studying architecture and technology at Anglia Ruskin University. He turned the lounge into a bedroom for his own use, and rented the three bedrooms to other students at his college. The cost to Pearson of servicing the mortgage has been just £775 a m

In a move aimed at reducing the cost of land acquisition and ease the process of land documentation, the Lagos State Government last week reviewed the charges on land transactions, but the development has not been entirely welcomed by stakeholders, who are rather examining the long-term effect of the policy. While some have commended the move as a welcome development, which will ease land transactions in the estate, others have expressed doubt on what the outcome of the policy will be, noting that it may complicate the already cumbersome process of land documentation in the state. On Monday, Governor Babatunde Fashola stated in an executive order No. EO/BRF/001 of 2015 that with immediate effect, consent fees should be reduced from six per cent of the value of the property to 1.5 per cent, while Capital Gains Tax, which was previously two per cent, should be reduced to 0.5 per cent. Others included the reduction of the cost of stamp duty from two per cent to 0.5 per cent and reg