E-Business
Lamudi, PwC Align on $13.65Bn Real Estate Market Prediction for 2016

Lamudi Nigeria said that 2015 was an interesting year for real estate in the emerging markets.
According to the platform, while there were a number of challenges as a result of fluctuating oil prices, currency stability, and changing investment laws, a new year brings new, exciting prospects.
But what will the next 12 months hold for developing countries and their real estate markets?
As 2016 gets underway, number one real estate platform Lamudi Nigeria explores the real estate markets to watch this year.
Lagos, Nigeria
According to PwC, the Nigerian real estate sector is expected to be valued at $13.65 billion in 2016, compared to the value of $9.16 billion in 2014.
The report further states that the real estate sector is the largest in the economy, where the sector accounts for 7.6 percent of the country’s GDP of $509.9 billion.
With a growing population, the Nigerian government has launched the Nigerian Mortgage Refinance Corporation (NMRC) in 2014 aiming to provide affordable mortgages for Nigerians.
Between 2015 and 2016, Lagos, Abuja and Port Harcourt are expected to erect over 10 skyscrapers valued at over N500 billion.
Nairobi, Kenya
Kenya has made a name for itself in the startup and technology sectors; Nairobi has become a hub for global and local corporations looking to enter these booming industries and take advantage of the opportunities East Africa has to offer.
As a result, the commercial and residential real estate markets are booming. Industry professionals expect this to continue in 2016. While international entrepreneurs are settling in Kenya’s capital, population growth is also expected to boost the city’s real estate market in 2016; as more Kenyans enter the job market and disposable income increases, we can expect more money to be spent on housing.
Quezon City, the Philippines
By 2025, Quezon City is expected to have a population of almost four million.
Metro Manila’s largest and most populous city had the greatest volume of online search traffic between January and June 2015, according to Lamudi’s onsite data. Search volume for the city grew, on average, 22 percent per month during the same period.
The online real estate platform’s data also reveals the city has the most affordable office space to rent, with an average price of Php503.79 (USD 10.73) per square meter per month.
Mandalay, Myanmar
Tourism is booming in Myanmar. At the end of 2015, the Ministry of Hotel and Tourism announced plans to attract 7.5 million tourists to the country by 2020, with a seven-year master plan.
As a result, Myanmar’s second city – Mandalay – is improving its infrastructure, and welcoming the construction of both small, independent and high-end hotels.
Housing in the city is much cheaper than in Yangon, however residential and commercial real estate is in short supply.
As the number of tourists to the city increases, it is expected to undergo significant development to improve the real estate options available to visitors.
Riyadh, Saudi Arabia
This year will see the construction of a $320 million mall in Riyadh.
The project will include office space, retail units, restaurants, and a boutique hotel, as well as recreational areas.
The Riyadh Walk will cover 137,000 square meters of Saudi Arabia’s capital city and is considered to be a step forward in upgrading the country’s commercial mixed-use projects.
Construction is expected to boost Riyadh’s commercial real estate sector, and lead to the development of more residential, commercial and industrial properties.
Kandy, Sri Lanka
The removal of land lease tax in Sri Lanka is expected to encourage non-nationals to invest in the country’s growth and development outside Colombo.
As Sri Lanka’s first ‘Smart City,’ Kandy is expected to welcome an increased number of international corporations, entrepreneurs, and startups, eager to invest in the city’s growth.
Consequently, the property sector is forecast to go from strength to strength over the next 12 months.
Furthermore, the continued development of the Colombo-Kandy Expressway is expected to transform the city into a hub of activity, which will likely result in a surge of real estate activity.
Casablanca, Morocco
In 2015, Morocco ranked eighth in Cushman & Wakefield’s list of top emerging markets in the world.
According to the report, the country was among the top 10 with the lowest risk to invest and open a business in real estate.
Casablanca, considered the country’s economic capital, is experiencing stable rents, increased supply, and the development of large-scale commercial and office projects.
The city shows great potential for both tourism and business, with the amount of office space expected to double in the next four years.
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 34 countries in Asia, the Middle East, Africa and Latin America, with more than 800,000 real estate listings across its global network.
E-Business
Artificial Intelligence: The Indispensable Catalyst for Nigeria’s Agricultural Revolution

By Diana Tenebe, Chief Operating Officer, Foodstuff Store
Nigeria’s agricultural sector, a cornerstone of its economy, faces a critical crossroads. While employing a staggering 40% of the population and holding over 84 million hectares of arable land, the industry is hobbled by deep-seated challenges. Low productivity, a fragmented supply chain, poor infrastructure, and a lack of access to financial services are just a few of the hurdles that prevent the sector from reaching its full potential. Coupled with the unpredictable and severe shocks of climate change—from prolonged droughts to devastating floods—these issues threaten the food security of a rapidly growing population.

Diana Tenebe
To truly transform this vital sector, a new approach is needed, one that moves beyond traditional methods and embraces the power of technology. Artificial Intelligence (AI) is not just a futuristic buzzword; it is the imperative for Nigeria’s agricultural revolution. AI holds the key to unlocking higher yields, building resilience, and fostering an inclusive and sustainable food system that can feed a nation and drive economic growth.
The most immediate impact of AI is in the area of precision farming. By integrating AI with technologies like Internet of Things (IoT) sensors, drones, and satellite imagery, farmers can gain an unprecedented understanding of their land. AI-powered systems can analyse real-time data on soil moisture, nutrient levels, and plant health, providing actionable insights for targeted interventions. For instance, smart irrigation systems can optimize water usage, a critical resource in a country facing increasing water scarcity. AI-enabled drones can survey vast farmlands in minutes, identifying early signs of pests or disease and allowing for precise application of pesticides, reducing chemical use and cost. Early trials of these technologies in Nigeria have already demonstrated significant gains, with some reports showing a remarkable 60-70% increase in crop yields.
Climate adaptation is another area where AI’s role is indispensable. Nigeria’s farmers are on the front lines of climate change, enduring erratic rainfall and extreme weather events. AI can provide a shield against this volatility. By analyzing historical weather data and real-time forecasts, AI models can offer accurate, localized predictions. This allows farmers to proactively adjust their planting schedules, select climate-resilient crop varieties, and plan for potential risks, effectively mitigating the devastating impact of droughts and floods.
The economic benefits extend far beyond the farm gate. A significant portion of Nigeria’s agricultural produce is lost due to an inefficient and fragmented supply chain. AI can streamline logistics, optimize transportation routes, and enhance inventory management. By reducing spoilage and waste, AI ensures that more of what is harvested reaches the market, thereby boosting the incomes of farmers and providing a more stable supply of food for consumers. The success of Nigerian agritech companies like Crop2Cash, which has reportedly helped over 500,000 farmers increase their income by up to 70%, demonstrates the tangible economic impact of these technologies.
AI is a powerful tool for promoting financial inclusion and education. Millions of smallholder farmers, who form the backbone of Nigerian agriculture, are often excluded from formal financial systems due to a lack of collateral and credit history. AI-driven fintech solutions can bridge this gap by assessing creditworthiness using alternative data, making it easier for farmers to access the loans and insurance they need to scale their operations. AI-powered mobile apps and chatbots can also serve as virtual extension agents, providing personalized advice on best farming practices, pest control, and crop management, democratizing knowledge and empowering farmers to make better decisions.
Despite this immense potential, the journey towards widespread AI adoption is not without its hurdles. High upfront costs for AI-enabled equipment, a general lack of understanding and experience with these tools, and a preference for traditional methods are all significant barriers. Furthermore, infrastructural gaps, including poor roads and inadequate storage facilities, hinder the seamless implementation of these technologies. Data availability and computational capacity are also key challenges that need to be addressed.
However, the Nigerian government and a burgeoning ecosystem of agritech startups are already paving the way forward. The government’s vision is articulated in initiatives like the National AI Strategy, which aims to establish AI research centers and support R&D. Programs such as the Nigeria Artificial Intelligence Research Scheme (NAIRS) and the NITDA AI Developers Group are building the necessary skills among entrepreneurs and farmers. Strategic partnerships between government bodies, financial institutions, and innovative startups are creating localized solutions that are tailored to the unique conditions of Nigerian agriculture.
Ultimately, AI is not a luxury but an imperative for Nigeria to unlock its agricultural potential. Its successful integration will transform the role of the farmer from a manual laborer to a strategic planner and overseer of a smart, efficient, and sustainable food system.
By investing in infrastructure, fostering strategic partnerships, and prioritizing education and capacity building, Nigeria can harness the power of AI to feed its people, drive economic prosperity, and secure its place as a leader in the African agricultural revolution.
E-Business
How to Avoid NIN Portal Lockout under New Restrictions — NIMC

National Identity Management Commission (NIMC) has announced new restrictions for users accessing its self-service modification portal, introducing tighter security controls that may lock users out if not properly followed.
In a statement issued on Thursday, Dr Kayode Adegoke, head of the Commission’s Corporate Communications Unit, NIMC, the agency revealed that self-service accounts are now restricted to the specific browser and device originally used during account registration.
“Your self-service account is uniquely tied to the browser and device used during registration. Access to your account is therefore limited to that specific browser on that particular device,” the statement reads.
The Commission explained that the changes are part of broader efforts to enhance data protection and preserve the integrity of the National Identification Number (NIN) system.
NIMC warned users that attempting to log in with a different browser or device may trigger access issues. “Additionally, clearing a browser’s cache may reset its identity, which could also result in the user being locked out.
“If this occurs, the account will require an unlinking process to regain access,” it added.
To further tighten access control, NIMC also announced a limit on the number of unlock attempts permitted per account.
“Once your browser and device are locked, you are permitted a maximum of five unlock attempt requests. Please be advised that no further requests will be processed after this limit is exceeded,” the Commission stated.
These new rules come as part of ongoing reforms in the NIN service delivery framework, including a recent 75 per cent increase in the cost of correcting a date of birth on the NIN database, from N16,340 to N28,574.
E-Business
FG Unveils Visa Application Platform to Eliminate ID Fraud, Unauthorized Agents

Federal government has launched a groundbreaking e-visa application platform aimed at curbing identity fraud and eliminating the influence of unauthorized agents in the visa processing system.
The new platform, unveiled by the Nigerian Immigration Service (NIS), is designed to streamline visa applications, enhance security, and ensure a transparent, user-friendly process for both citizens and international visitors.
The initiative, announced on Wednesday, comes in response to growing concerns over fraudulent activities in visa applications, including document forgery and exploitation by unlicensed agents.
The platform integrates advanced identity verification technologies, leveraging the National Identity Number (NIN) and Bank Verification Number (BVN) to authenticate applicants.
This move aligns with the government’s broader efforts to strengthen Nigeria’s digital identity ecosystem and restore trust in its immigration processes.Speaking at the launch event in Abuja, Kemi Nandap, comptroller-general of the NIS, emphasized the platform’s role in modernizing Nigeria’s visa system.
“This is a significant step toward eliminating fraud and ensuring that only verified individuals can apply for visas. The days of middlemen exploiting applicants are over,” Nandap stated.
She added that the platform would provide a seamless experience, allowing applicants to submit documents, track their applications, and receive real-time updates from anywhere in the world.
The e-visa platform, accessible via the NIS website, incorporates biometric authentication and real-time data cross-referencing with the National Identity Management Commission (NIMC).
This ensures that all applicants are verified against Nigeria’s national database, significantly reducing the risk of identity theft.
Additionally, the platform eliminates the need for physical submissions at embassies or consulates, cutting down on bureaucratic delays and reducing opportunities for corrupt practices.
The launch has been met with mixed reactions. While many have praised the government’s efforts to modernize and secure the visa process, some applicants have expressed concerns about accessibility, particularly for those in rural areas with limited internet access.
The NIS has responded by announcing plans to establish support centers across the country to assist applicants with the online process.
The platform’s introduction follows reports of widespread visa fraud, with a 2023 report claiming that Nigerian visa applications were being rejected abroad due to suspicions of forged documents.
The new system aims to address these issues by centralizing and digitizing the application process, making it harder for unauthorized agents to operate.
The Federal Government has also partnered with private tech firms to ensure the platform’s cybersecurity and scalability.
According to a statement from the Ministry of Interior, the system is expected to process over 500,000 visa applications annually, boosting Nigeria’s tourism and business sectors by making the country more accessible to legitimate travelers.
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