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Lamudi, Top Real Estate Agents Speak On Market Trajectory for 2015

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The real estate sector in Nigeria promises to be at its all time high this year, following the expressions of top agents in the country. In a bid to provide indepth understanding of what the real estate market for 2015 may hold, Lamudi Nigeria conducted a survey among selected top real estate agents in Nigeria.

Apparently, the agents believe that the impact of the electioneering and the devaluation of the Naira will be felt in the market in the beginning of the year, however, the market will definitely appreciate towards the last half of the year.

Here are their predictions for the sector in 2015.

Tope Ayodele, MD, Covenant Real Estate, said “At first quarter, the purchasing power of people will be low.  Because of the Naira devaluation the market is presently unpredictable but in the short run the market will boom. The second quarter there will be a considerable rise but unpredictable because of oil price and elections”

Emeka Agu, MD, Emeka Agu & Co, said, “We are hoping we have a stable country, with a stable State business will boom and thins will kick off!”

Lawal Olaide Tresvant, Business Development, Efficacy Homes Limited “2015 is going to be a wonderful year! Because of the elections period there might not be much cash, but we have a wonderful package for our clients: very affordable housing and new investments as low as N10million”

To Bala Ishaku, Beverly & Sam, “The first quarter is going to be slow for residential but there shall be more interest in the commercial as new businesses are coming up. Elections is a factor but the flip side is there is a lot of trading in property; people selling in the high hand and developers looking to buy. It will kick up after the elections even though the purchase power will be low”

Also, Kola Ashiru-Balogun, MD, ARM Properties “The first Quarter is going to be dull because of elections. We foresee only 6 months of activities. It’s going to be a tough year but the demand is still there! People will reduce the price of their property to create a semblance of sales. The office demand will remain strong. Business is not as sensitive as people (households). But there would not be quality Class A space this will only be in 2016.”

Emmanuel Akpa, MD, Emma Akpa & Co said it will be good, “because some any upscale properties are coming such as: Rainbow town in Port Harcourt, Atlantic City or Lakowe in Lagos and Centinary City in Abuja as well as some new residential building on Gerard road, Ikoyi.”

Bosu Okusaga, Managing Partner, Babajide Okusaga, said, “We will witness stability in property transactions especially in the price until the middle of the year. In the fourth quarter things will start to kick off. Real estate will the best place to invest as interest rates will not be attractive thus people won’t go to banks also the price will be more realistic.”

Anthony Iraoya, Managing Partner, Pius Omeife and Co “The market is bright especially in Abuja. Politicians are selling properties to get fund but after Election they will start reinvesting. The market will be booming as the oil and gas crisis will be temporary. With 2 million housing deficit in Nigeria the demand is very high the only issue are the prices. If you build affordable homes before you market it they are off the market!”

Ayodele Thomas, MD, KingsCourtRealtors, also said “Due to uncertainty in the global economy as a result in fall in oil prices and slow demand from America and China. I foresee a bit of slowdown in real estate development in Nigeria, especially in luxury real estates, as a result of scarcity of funds. Investors’ sentiments are likely to change in terms of real estate investment.

“However, I see a boost in the rental market, and especially in the middle range housing. Other areas to watch out for are retail and recreational developments. Real estate opportunities will be driven in 2015 by new opportunities in middle income areas, especially around the Lekki-Epe Axis. Is 2015 a good year to invest? Yes, better to get in when prices are bottoming up than when rising. With the low demand in real estate in 2015 and scarcity of funds, prices will have to come down in 2015.

“We will however, see an upward shift from the 3rd to 4th quarter of this year. 2016 will be a golden year for Real Estate”.

Mr Motunde Aladeitan, head of Practice, Motunde Aladeitan & Associates also reiterated that”…The first quarter will be Dull as a result of the election, value will be static as reality of the crash in Naira will have its toil. Appreciation will improve only when there is trust on the economy…”

Mr Gbenga Odusiga (Partner), Gbenga Odusiga & Co.. noted that “…Activities in real estate market for residential properties  in Abuja will improve by the middle of 2015,rents will not necessarily increase because supply and demand will be at equilibrium owing to the near completion of various on-going  estates developments especially the mass housing & request for purchase of estate plots…”

And to Fola Obabiyi, managing partner, Bosiva Realtors, Real Estate and Property Consultancy…. “The property market in 2015 as regards Abuja, the F.C.T. Promises to be an exciting one, though it is starting rather on a slow note due to a lot of economic factors such as the devaluation of the Naira and non payment of civil servants salary knowing fully well that the major workforce in the F.C.T are the Civil servants.

“But it would definitely pick up in the coming months because it is an election year, new politicians would be sworn in into various offices and they are coming with a retinue of aides and of course their families. This means houses that are in the market both for lease and for sale would be occupied by these people. But if the after election violence can be avoided, then the property business promises to be exciting this year

Mr Fergus Esezobor, partner, Sheffieldoaks Real Estate Solutions, said “Another factor why the property market is slow is because of the outcome of the election, would be investors are waiting to know what would be the aftermath of the election before investing, they don’t want to invest now and find out that they have to leave their investments and relocate to their states because of the violence that might erupt after the general elections…”

“…The industry has achieved exponential growth over time given the existing rapid rate of urbanization and high property rates. My first instinct is that it is election year, most buyers and sellers’ perception of the market is negative. So, i expect properties to remain fairly consistent throughout the year. I do not see a big dip in values or a rapid increase in the market values. What i predict is a very small gain more than likely to occur throughout the year…”

Engr. Ayodele Ogunlana, Baocam and Truss LTD “…As we go into the year 2015, prices of properties both for sell and lease are likely to remain stable throughout the year; we might witness a little dip in the prices of luxurious properties across the nation; ardently more in the Federal Capital Territory.  With the dwindling oil prices and the recent devaluation of the Naira amidst the prevailing economic situation, fewer cash would be available for Government in the state and federal levels to investment in the real estate sector.

“However, I perceive that more Public Private Partnerships (PPP) would be entered into this year compared to the presiding year, as the stake holders would be more confident to deal, knowing that the Public Official would have at least four years in the case of Governors and President to be in office.

“In general, most of the real estate transactions to be done this year would be post February 14th  presidential election, with a sharp rise after a successful May 29th Democracy day…”


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NITDA DG Reaffirms Nigeria–U.S. Partnership on Data Privacy, AI and Cybersecurity

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Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA), has reaffirmed Nigeria’s commitment to strengthening collaboration with the United States in building a secure, trusted, and resilient digital ecosystem, with a particular focus on data privacy, artificial intelligence, cybersecurity, and capacity building.

NITDA DG Reaffirms Nigeria–U.S. Partnership on Data Privacy, AI and Cybersecurity

NITDA

He stated this while delivering an address at the Nigeria Data Privacy Capacity Building Workshop organised by the United States Department of State, in collaboration with the Nigerian Mission and relevant stakeholders in the digital ecosystem.

Expressing his excitement at the engagement, Inuwa described the workshop as a strong revalidation of the long-standing partnership between Nigeria and the United States in advancing the country’s technical and digital systems.

According to him, the collaboration is not a new initiative but part of a growing and deliberate effort by both countries to jointly address emerging digital challenges and opportunities.

Inuwa recalled that in April 2024, Nigeria and the United States, through the U.S.–Nigeria Binational Commission, agreed to work together on key areas including data privacy, artificial intelligence, cybersecurity, capacity building, and other aspects of digital development.

He further noted that the same year witnessed the successful hosting of an Artificial Intelligence Conference, co-hosted by the Nigerian Government and the U.S. Mission in Nigeria, as well as Nigeria’s participation in engagements with U.S. cybersecurity companies to explore partnerships aimed at strengthening Nigeria’s technical ecosystem.

He explained that NITDA’s emphasis on data privacy, AI, cybersecurity, and policy is anchored on one central objective: building trust in the digital ecosystem, adding that trust is a critical enabler of digital transformation, as its absence slows down innovation and increases costs, while its presence accelerates progress and reduces barriers to growth.

The NITDA Boss stressed that building a prosperous digital economy requires deliberate efforts to safeguard data privacy, strengthen security frameworks, and deploy AI responsibly.

He noted that artificial intelligence relies on data, data demands privacy, and privacy can only be guaranteed through strong security, making it impossible to address these issues in isolation.

Inuwa described the workshop as the beginning of broader engagements and deeper collaboration in other strategic areas, particularly as Nigeria continues to position itself as a key player in the global digital economy.

He disclosed that following the participation of the U.S. Mission in Nigeria’s National Cybersecurity Conference last year, plans are underway to expand the conference into an international cybersecurity platform this year.

According to him, the international conference will provide an opportunity for U.S. cybersecurity companies to showcase their technologies, explore partnerships with Nigerian firms developing local cyber solutions, and jointly strengthen Nigeria’s cybersecurity ecosystem.

Inuwa also reassured partners and stakeholders of NITDA’s commitment to building the right policies and enabling environment for innovation to thrive.

He noted that Nigeria, alongside Africa, represents the next frontier of the digital economy, driven by a young, digital-native population and a large, expanding market.

He said that while many public and private sector organisations in Nigeria rely on U.S. technologies to build their digital systems, the country also possesses significant local talent capable of developing homegrown solutions to address national and regional challenges.

He added that NITDA remains committed to working with international partners to build local capacity and promote Nigeria’s digital self-determination.

According to the DG, digital technology is no longer optional, as it represents the future of economic growth and development, and no nation can afford to be left behind.

He emphasised that the only way to fully harness the opportunities of the ongoing AI revolution is by safeguarding privacy, establishing sound policies, and laying a strong digital foundation capable of supporting rapid technological advancement.

He appreciated the U.S. Department of State and the U.S. Mission in Nigeria for their continued partnership and support, expressing optimism that the collaboration will be further strengthened to explore new areas of cooperation, particularly in cybersecurity and artificial intelligence, for the mutual benefit of both countries.


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Paradigm Initiative Condemns the Internet Shutdown and Media Restrictions in Uganda Ahead of the 2026 General Election

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Paradigm Initiative (PIN) strongly condemns the internet shutdown implemented in Uganda ahead of Thursday’s general election, as well as the restrictions placed on media coverage of protests and demonstrations. These actions constitute serious violations of digital rights, media freedom, and democratic principles at a critical moment in the country’s electoral process.

Paradigm Initiative Condemns the Internet Shutdown and Media Restrictions in Uganda Ahead of the 2026 General Election

Internet Shutdown

Evidence indicates that internet access across Uganda has been disrupted, affecting social media platforms, messaging services, and online news outlets.

This development comes despite earlier public assurances by the Uganda Communications Commission that the government did not intend to shut down the internet during the elections.

The shutdown represents a troubling reversal of that commitment and raises serious concerns about transparency, accountability, and respect for fundamental rights.

Uganda has a well-documented history of internet shutdowns during elections, including during the 2016 and 2021 general elections. In 2021, a near-total internet blackout lasted several days, severely undermining freedom of expression, access to information, election observation, media reporting, and economic activity.

Repeating these measures despite widespread national, regional, and international condemnation demonstrates a continued pattern of using digital restrictions as a tool of election management.

Paradigm Initiative further condemns directives preventing media houses from covering protests or demonstrations during this period. Such restrictions violate media freedom and the public’s right to receive information, and undermine the role of the press as a democratic watchdog. Suppressing coverage of protests fuels misinformation, heightens tension, and erodes public trust in the electoral process.

Article 29 of the Constitution of the Republic of Uganda guarantees the rights to freedom of expression, freedom of the press and other media, and access to information. Uganda is also a State Party to the International Covenant on Civil and Political Rights (ICCPR) and the African Charter on Human and Peoples’ Rights, which protect these rights under Articles 19 and 9, respectively.

Any restriction on these rights must meet the strict tests of legality, necessity, proportionality, and legitimate aim. Blanket internet shutdowns and platform restrictions fail these tests and are incompatible with Uganda’s constitutional and international obligations.

At the international level, the United Nations Special Rapporteur on the promotion and protection of the right to freedom of opinion and expression, together with other UN Special Procedures mandate holders, has consistently affirmed that internet shutdowns are inherently disproportionate and can never be justified under international human rights law, including during elections, protests, or periods of political tension.

The African Commission on Human and Peoples’ Rights has recently issued a specific call urging the Government of Uganda to keep the internet on and to respect freedom of expression and media freedom during the current electoral period.

This call builds on established African human rights standards, including Resolution 580 on Internet Shutdowns and Elections in Africa and Principle 38 of the Declaration of Principles on Freedom of Expression and Access to Information in Africa, which prohibits States from interfering with access to digital technologies.

Internet Service Providers and technology companies operating in Uganda also bear responsibility under the UN Guiding Principles on Business and Human Rights to respect human rights, ensure transparency, and avoid complicity in unlawful or disproportionate restrictions on connectivity.

Paradigm Initiative calls for:

The immediate restoration of full internet access across Uganda and an end to all forms of digital disruption during and after the electoral period.

The withdrawal of all directives restricting media coverage of protests, demonstrations, or political developments during elections.

Accountability from Internet Service Providers, including the publication of transparency reports to users detailing government orders affecting internet access.


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PalmPay, Premier Cool to Reward 10,000 Nigerians with ₦100m in “10k for 10k Campaign”

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L-r: Femi Hanson, Head, Marketing & Comms, PalmPay Nigeria; Austyne Umeh, Head, Digital & IT Africa, PZ Cussons; Chika Nwosu, MD, PalmPay Nigeria; Oghale Elueni, MD, PZ Cussons Africa; Martha Kayode, Head of Marketing, PZ Cussons; Kowontan Habib, Head, Wallets & Wealth Business, PalmPay and Dedun Ezichi, Head of Category, Personal Hygiene, PZ Cussons at the launch of the Premier Cool 10k for 10k promo in Lagos
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Premier Cool, Nigeria’s leading antibacterial cooling bar soap, has announced the launch of its nationwide consumer promotion, “10K for 10K”, in partnership with Palmpay, Nigeria’s leading digital bank.

This promo is designed to reward 10,000 Nigerians with ₦10,000, amounting to a total of ₦100 million in cash rewards paid instantly via PalmPay wallets. Running from January 12 to April 11, 2026, 111 winners will emerge daily throughout the three months.

Speaking on the campaign, the MD PZ Cussons Africa, Mr Oghale Elueni, said ‘At a time when financial pressure is real for many households, this promo is our way of easing the load and refreshing Nigerians, emotionally and financially, with a brand they already know and trust.

Participation is straightforward, and reward is instant on your PalmPay wallet

Consumers can take part in three easy steps:

  1. Buy a promo-coded pack of Premier Cool 110g (Ultimate or Black) and unwrap to reveal a unique code inside.
  2. Scan the QR code on the pack, which leads directly to the campaign microsite and the PalmPay app.
  3. Enter the unique code on PalmPay for an instant draw and a chance to win ₦10,000 instantly.

New PalmPay users participating in the campaign will also enjoy a welcome bonus of up to ₦5,550, further reinforcing PalmPay’s commitment to delivering practical value and smarter everyday banking.

Also speaking at the launch, Managing Director of PalmPay Nigeria, Chika Nwosu, noted that this campaign reflects PalmPay’s commitment to delivering real, everyday value to Nigerians. By partnering with a brand that families have trusted for decades, we are reinforcing our promise of smarter banking that supports daily living, saving, and financial growth.”

Rewarding Loyalty, the Premier Cool Way

Premier Cool understands the value of loyalty and believes freshness should come with real rewards. With the 10K for 10K Promo in partnership with PalmPay, Premier Cool reinforces its commitment to consumers through meaningful engagement, proving that staying fresh pays.

With decades of heritage under PZ Cussons, Premier Cool remains a symbol of reliability, family well-being, and consistent quality in Nigerian homes.

PalmPay is driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.


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