馃嚦馃嚞NigeriaWest Africa
Nigerians shifting from home ownership to rentals amid housing challenges
via Punch Nigeria7 min read
Peter Adobamen, Chairman of Exclusive Estates, highlights the significant challenges facing Nigeria's real estate sector, leading many Nigerians to shift from homeownership aspirations to rental accommodation. Key barriers include high construction costs, expensive land acquisition, limited access to long-term financing, inadequate infrastructure, regulatory bottlenecks, and low purchasing power. Inflation has substantially increased the cost of building materials and labor, forcing developers to raise property prices and rents, while the naira's depreciation has inflated the cost of imported construction materials. High interest rates make mortgage financing inaccessible for many, resulting in low mortgage penetration. Adobamen suggests government policies such as simplifying land processes, expanding affordable mortgage financing, providing tax incentives for affordable housing, and improving infrastructure. He emphasizes that infrastructure deficits significantly increase development costs, advocating for strategic public investment and public-private partnerships. To deepen the mortgage market, comprehensive reforms are needed, including lower interest rates, longer repayment tenures, and expanded participation of pension funds. Despite challenges like regulatory uncertainty and foreign exchange volatility, Nigeria's large population, rapid urbanization, and housing deficit make its real estate market attractive to investors. Adobamen notes that issues like unclear land t
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The Federal Government has successfully conducted the 2026 National Common Entrance Examination for admission into Federal and State Technical Colleges. During this exercise, the Federal Ministry of Education piloted a computer-based test CBT, coordinated by the National Business and Technical Examinations Board. The examination was held nationwide and conducted smoothly across various centers. Mrs. Patricia Ogungbemi, Director of Technology and Science Education, representing the Minister of Education, monitored the exercise and encouraged candidates to pursue technical and vocational education for self-reliance, innovation, entrepreneurship, and employment. She emphasized the opportunities for technical college graduates, including practical, industry-relevant skills and government initiatives for job creation. The pilot CBT session, conducted after the conventional examination, aimed to assess readiness for a future transition to a fully computer-based examination system, reflecting the Federal Government's commitment to digital transformation and quality technical education. This initiative aligns with broader efforts to digitalize entrance examinations in Nigeria, following similar reforms in other examination bodies.
Former Super Eagles coach Sunday Oliseh stated that Morocco could have beaten Brazil 3-1 if they had players similar to Nigeria's Victor Osimhen or Ademola Lookman in their squad. Oliseh shared this comment on his X handle after Morocco's 1-1 draw with Brazil in their 2026 FIFA World Cup Group Stage match. He described Morocco's performance as impressive, highlighting their tactical balance in both attack and defense. Oliseh noted that Brazil's result flattered them, attributing the respectable scoreline to their star players like Vinicius Jr and Raphinha. Morocco secured a point against the five-time world champions in the match where Vinicius won the Superior Player of the Match award.
The air component of Joint Task Force Operation Hadin Kai neutralized 27 terrorists in separate air interdiction missions in Borno. An operational report from the Nigerian Air Force indicated that strikes were conducted following Intelligence, Surveillance and Reconnaissance missions. On June 10, an air interdiction mission at Dawoshe, a known terrorist enclave in the Southern Tumbus area, resulted in the destruction of vehicles and the neutralization of 12 terrorists. On the same day, a precision strike on terrorist positions at Metele in the Northern Tumbus area of Guzamala Local Government Area, Borno, confirmed 15 terrorists were neutralized. These operations are part of ongoing efforts to degrade terrorist capabilities, disrupt logistics networks, and deny insurgents freedom of action across the North-East theatre. The Armed Forces of Nigeria are committed to sustaining offensive operations against terrorist strongholds.