General
Lagos to Start Monthly Tenancy in 2022 for Easy Payment
By Aduragbemi Omiyale
Governor of Lagos State, Mr Babajide Sanwo-Olu has said by next year, a new policy of monthly tenancy on property occupancy would kick-off.
Speaking at the Lagos Real Estate Market Place Conference and Exhibitions organised by the Lagos State Real Estate Regulatory Authority (LASRERA) at the Eko Hotel and Suites, Victoria Island, the Governor explained that the concept is not to punish the landlord or reduce the expected revenue of the property owner.
He said monthly tenancy would ease off the pressure of yearly rent on tenants, as the new policy is designed to make people pay their rents according to their monthly earnings.
The policy, Mr Sanwo-Olu said, emanated from an agreement reached by association of tenants, consortium of financiers and the government.
At the two-day event with the theme Lagos: 21st Century Real Estate Investment Hub, the Governor ordered the complete excision on untitled land across the state.
He explained that this is to put an end to the incessant issue of land grabbing in Lagos State, adding that a technical committee will be set up to fine-tune the framework for the excision process on untitled land, with the objective to granting Certificate of Occupancy (C-of-O) to landowners for transparent sales of the asset.
The Governor condemned an effort by state officials to frustrate and sabotage the full take-off of the state’s Enterprise Geographic Information System (e-GIS) project initiated to automate approval of land surveys and allocation titles in one talk shop.
Mr Sanwo-Olu issued a stern warning, saying he would be ruthless in purging out saboteurs in the ranks of government.
“One of the issues we are working on is the ownership of land. There is a large parcel of land across Lagos that doesn’t have the Government title.
“It is to announce to this gathering that I’ve made up my mind that we are going to do excision for untitled land. This process will kick off next year and we will set up a committee whose composition will represent all traditional divisions in Lagos. With equity and fairness, we will yield proper titles on all the land, so that the issue of land grabbing can be reduced to the minimum.
“We will also be carrying out genuine reform in our Survey Department. We need to have our e-GIS platform up and running after 10 years that it was initiated. I’m expressing my disappointment in some government officials sabotaging these efforts. I will look for the culprits and I will be ruthless in meting out punishment. I will ensure these saboteurs have no place in my government,” he said.
Addressing the cause of the high affordability of property in Lagos, the Governor said the state’s partnership with the private sector had raised the housing stock but added that the non-availability of long-tenure mortgage bonds made it impossible for low-income earners to benefit.
The government, he said, is thinking out of the box to design a financing model that would reduce the burden on mortgage applicants, while also charging real estate developers to reduce the cost of developing property by engaging local competence for skills outsourced to foreigners.
He said: “We should not just build property only for consumers, we must also build skills and integrate them in our built environment to showcase great output. Technical and vocational skills are things we must deliberately harness and reflect in our work. At the end of the day, we must be able to design a housing development and ownership model that is fit for our purpose and peculiar to our local needs.”
Special Adviser to the Governor on Housing, Mrs Toke Benson-Awoyinka, said real estate remained the most sought after investment, noting that the market, apart from creating sustainable jobs, also has the highest potential of growing the economy of any nation.
She said the state government realised the need for investors and consumers to know policies put in place and how the knowledge of all the policies could assist stakeholders in making informed decisions in investing in the real estate market.
Mrs Benson-Awoyinka said: “As a government, we have realised this fact and as such, have been making business-friendly policies that can assist would-be investors and consumers to operate in a conducive business environment.
“LASRERA has strengthened its efforts to make this sector more vibrant by ensuring that practitioners operate within the ambit of the law.
“The agency has registered over 100 individuals and organisations that approached the Government to regularise their operations with us. We have seen positive results from this undertaking, as the State, through the LASRERA, has resolved several reported cases of fraudulent practices brought to the attention of the agency in a very professional manner.”
As a regulator, the Special Adviser urged investors and consumers to make LASRERA their first point of contact before investing in real estate in any part of Lagos.
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.
By Adedapo Adesanya
The Inspector-General of Police (IGP), Mr Tunji Disu, has ordered an immediate nationwide ban prohibiting Point-of-Sale (POS) operators from running their businesses within a 200-metre radius of any police station, divisional headquarters, or police formation across Nigeria.
This directive, released via an internal police wireless message, addresses critical systemic challenges regarding extortion and corrupt financial practices within law enforcement facilities.
The order is to be strictly enforced nationwide, with senior officers overseeing various formations to be held accountable for any breach of the directive.
The Nigeria Police Force stated that the measure is intended to strengthen transparency, accountability, and public confidence in the policing system.
The decision comes after an alarming proliferation of POS businesses near police facilities, with investigations and public complaints revealing that some operators were actively complicit in facilitating extortion, bribery, and illegal cash transfers forced upon civilians or suspects during police encounters.
Under the directive, Assistant Inspectors-General of Police (AIGs), State Commissioners of Police (CPs), and heads of formations will be held vicariously liable for any breach within their jurisdictions.
The IGP’s order states: “Any officer or POS merchant found flouting the 200-metre operational boundary or colluding in illicit transactions will face immediate disciplinary and criminal actions under extant laws.
“If you are a POS agent or looking into regulatory compliance for financial services in Nigeria, let me know. I can provide details on current Central Bank of Nigeria (CBN) radius registration guidelines or share methods to report officer misconduct directly to the Force Headquarters.”
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