By Adedapo Adesanya

Maryland Mall, one of the prominent retail and entertainment centres located in Lagos, has been put up for acquisition.

In what is shaping up to be a competitive bidding process targeted at qualified investors, the offering coordinated by Broll Property Services in partnership with Renaissance Capital Africa describes the property as a “high-yield income-generating investment” situated in a prime commercial corridor within the commercial capital.

According to details contained in the investment teaser seen by Business Post, interested investors are expected to submit expressions of interest before proceeding to due diligence and final bid submissions.

Final bid submissions are scheduled to close by 12 pm on Monday, June 30, 2026, according to the advisory firms.

The sale process is expected to attract interest from institutional investors, private equity firms, real estate funds and high-net-worth investors seeking exposure to Lagos’ commercial property market.

The mall, strategically located along a major road network in Maryland, boasts strong visibility and accessibility, factors considered critical in retail real estate performance.

The document disclosed that the facility, which hosts facilities like Genesis Cinema and Workstation, currently maintains an occupancy rate of 87 per cent and is professionally managed to maintain operational standards.

However, people who frequent the facility told our correspondent that the facility has faced several operational challenges. This development presents challenges for potential investors who will likely scrutinise factors such as tenant sustainability, operating costs, power expenses and consumer spending trends before making final commitments.

Under the outlined transaction process, shortlisted bidders will enter negotiations following due diligence and submission of financial offers.

Launched in June 2016 by Mr Akinwunmi Ambode, the then governor of Lagos State and Mr Atedo Peterside, Chairman of Stanbic IBTC, Maryland Mall boasts the largest outdoor LED screen in West Africa, under Purple Group’s management.

In 2020, the company officially rebranded the mall from Maryland Mall to Purple Maryland as part of its broader lifestyle and mixed-use real estate strategy.  However, due to some macroeconomic headwinds, the company fell into a receivership in October 2023, with Mr Richard Ayodele Akintunde named the Receiver Manager.

Years ago, the management agreement between Purple Group and the receiver manager was terminated, and Broll was appointed the new Facility Manager.

By Adedapo Adesanya

The United Kingdom has reaffirmed its development partnership with Kano and Jigawa States, as part of its long-term commitment to development and reform in northern Nigeria.

The Head of Development Cooperation at the British High Commission Abuja, Ms Cynthia Rowe, recently completed high-level engagements with governors of both states as well as senior government officials and civil society leaders.

The discussions underscored the UK’s modern approach to development as a genuine partnership with Nigeria, which prioritises state-led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.

According to a statement, the Foreign Commonwealth and Development Office, via the British High Commission, said Nigeria remains one of the UK’s most significant development partners, adding that the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.

In Kano, Ms Rowe met with Deputy Governor Alhaji Murtala Sule Garo and senior officials, including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.

In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK technical assistance.

Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.

Speaking on this, Ms Rowe said, “For more than 25 years, we have worked side by side with state governments, including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.

These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”

By Adedapo Adesanya

The Nigerian Meteorological Agency (NiMet) has signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) on data sharing to enhance economic productivity.

This was done at a meeting at CBN Head Office in Abuja, where the weather body led by its Director General, Mr Charles Anosike, on Wednesday, highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation.

He noted that extreme weather events can reduce agricultural productivity and threaten food security.

He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.

Mr Anosike cited a 2026 World Bank report that showed that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.

He also referenced the latest Berkeley Earth Report, which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.

In his remarks, Mr Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support.

He emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.

According to him, the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet, saying that such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.

He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.

At the close of the event, Mr Anosike and Mr Sani Abdullahi signed the MoU on behalf of their respective institutions.