General
Real Estate Investor Foresees Boom in Nigerian Shortlets Market
By Adedapo Adesanya
A real estate investor and managing director of Eko Shortlets, Mr Tobi Misan Adegboyega, says the Nigerian shortlets market will record significant growth.
According to him, this is one of the surest investment choices a property owner can make because they are assured of making the best bet with their assets by keying into the unsaturated market as it will help bring balance to the housing supply chain crisis.
Mr Adegboyega believes that with Nigeria’s expanding middle class and teeming youth population, the demand for shortlet apartments will rise exponentially and there will be a need to service the necessities.
According to him, every period has had a commodity to serve the population in the past and with the growing number of millennials and Generation Z in Nigeria, real estate is the next move on the chessboard, just as the economy is opening to diversification.
“In the 1970s, we had oil driving the economy, it pushed us to develop as a society as it contributes to a higher percentage of our foreign earnings and now that we are moving towards a diversified economy, one of such available avenues is in real estate.
“The evidence and the numbers support this assertion. For example, Nigeria’s population is aiming to double in the next 30 years and with the migration to e-commerce and remote working, the use of workplaces that offer serenity and accessibility is not lost on those that can provide it.
“Real estate forecasts shows that demand for warehouses, distribution centres, and other properties that allow e-commerce will continue to rise.
“Analysts expect that the value of the global investable real estate will in the next few years grow by an average of 5.2 per cent annually to exceed $85 trillion.
“So, if you are a property owner, we are calling on you to quickly jump at this opportunity to partner with us,” he said.
He further said Eko Shortlets will be open to partnerships that will offer attractive offers to both homeowners and clients.
“The goal is to close the demand and supply barrier and to drive convenient and efficient housing through our proficiently executed services.
“Our current client base can testify to how the arrangement works. We always place our customers first by providing affordable apartments while providing solutions to the housing market in Nigeria,” the real estate expert said.
Eko ShortLets is an apartment management company that has taken up the challenge to change the shortLet and apartment tale, one customer at a time.
The company also takes on other people’s property in a managerial capacity. These properties will be put up on its fleet of tastefully furnished apartments and they will be made up to fit into the standard of primus inter pares luxurious spaces, whilst retaining an almost pristine state.
Owners of such property will be given a percentage of the company’s income on a monthly basis without fail. To this end, it’s a win-win situation for both the owners of properties and the team at Eko ShortLets.
General
NISO Attributes Electricity Woes to Inadequate Gas Supply
By Adedapo Adesanya
The Nigerian Independent System Operator (NISO) has attributed the poor power supply facing a considerable number of Nigerians to inadequate gas supply to thermal power plants.
Business Post reports that epileptic power supply has plagued consumers in Lagos, Oyo, Abuja, and Osun, among others, this month, leading to worries. Also, some businesses have recorded losses due to the epileptic power supply in their areas.
In a statement posted on its X handle, NISO disclosed that average available generation on the national grid currently stands at about 4,300 megawatts (MW), with the low output primarily attributed to gas supply constraints.
The system operator noted that thermal power plants, which account for the dominant share of Nigeria’s electricity generation mix, require an estimated 1,629.75 million standard cubic feet (MMSCF) of gas per day to operate at optimal capacity. However, as of February 23, 2026, actual gas supply to the plants was approximately 692.00 MMSCF per day.
The available supply represents less than 43 per cent of the daily gas requirement, resulting in constrained generation output and reduced electricity allocation to Distribution Companies (DisCos).
NISO, which independently manages the nation’s electricity grid, explained that any disruption or limitation in gas supply directly affects available generation capacity and overall grid output, given the heavy reliance on thermal plants.
It added that when total system generation drops significantly, the operator is compelled to implement load shedding across the network while dispatching available energy in line with allocation percentages approved under the Multi-Year Tariff Order (MYTO) framework of the Nigerian Electricity Regulatory Commission (NERC), to maintain grid stability and prevent system disturbances.
While expressing regret over the inconvenience to electricity consumers and market participants, NISO said it is working closely with relevant stakeholders to restore full energy allocation once gas supply improves and generation capacity returns to normal levels.
General
EFCC Re-Arraigns ex-AGF Malami, Wife, Son Over Alleged Money Laundering
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Attorney-General of the Federation (AGF), Mr Abubakar Malami (SAN), his wife, Mrs Asabe Bashir, and son, Mr Abdulaziz Malami, on money laundering charges.
They were brought before Justice Joyce Abdulmalik of the Federal High Court in Abuja, following the re-assignment of the case to the new trial judge.
Upon resumed hearing, EFCC’s lawyer, Mr Jibrin Okutepa (SAN), informed the court that the matter was scheduled for defendants’ re-arraignment.
“The matter is coming before your lordship this morning for the very first time. I will be applying for the plea of the defendants to be taken,” he said.
Mr Okutepa equally applied that the sums listed in Counts 11 and 12 be corrected to read N325 million instead of N325 billion for Count 11, and N120 million instead of N120 billion for Count 12.
When it was not opposed by the defence lawyer, Mr Joseph Daudu (SAN), Justice Abdulmalik granted the oral application by Mr Okutepa.
The defendants, however, pleaded not guilty to the 16 counts preferred against them by the anti-graft agency bordering on money laundering.
Justice Obiora Egwuatu had, on February 12, withdrawn from the case shortly after the civil case filed by the EFCC was brought to him.
The case was formerly before Justice Emeka Nwite, who sat as a vacation judge during the Christmas/New Year break.
After the vacation period, the CJ reassigned the cases to Justice Egwuatu, who had now recused himself, before it was reassigned to Justice Abdulmalik.
The former AGF, his wife, and son were earlier arraigned before Justice Nwite on December 30, 2025.
While Malami and his son were remanded at Kuje Correctional Centre, Asabe was remanded at Suleja Correctional Centre before they were admitted to N500 million bail each, on January 7, with two sureties each in the like sum.
General
INEC Shifts 2027 Presidential, N’Assembly Elections to January 16
By Adedapo Adesanya
Nigeria will hold next year’s presidential and National Assembly elections a month earlier than planned, after the Independent National Electoral Commission (INEC) revised the polling schedule.
The elections will be held on January 16, instead of the previously announced date of February 20, INEC said in an X post, signed by Mr Mohammed Kudu Haruna, National Commissioner and Chairman, Information and Voter Education Committee.
There were also changes to the Governorship and State Houses of Assembly elections initially fixed for Saturday, March 6 2027, in line with the Electoral Act, 2022, have now been moved to Saturday, February 6, 2027.
The electoral commission said the changes were caused by the enactment of the Electoral Act, 2026 and the repeal of the Electoral Act, 2022, which introduced adjustments to statutory timelines governing pre-election and electoral activities.
“The Commission reviewed and realigned the schedule to ensure compliance with the new legal framework,” it said.
INEC said party primaries (including resolution of disputes) will commence on April 23, 2026 and end on May 30, 2026, after which Presidential and National Assembly campaigns will begin on August 19, 2026, while Governorship and State Houses of Assembly campaigns will begin on September 9, 2026.
It noted that campaigns will end 24 hours before Election Day, and political parties have been advised to strictly adhere to the timelines.
INEC also stated it will enforce compliance with the law.
The electoral body also rescheduled the Osun Governorship election which was earlier scheduled for Saturday, August 8 2026, by a week to Saturday, August 15, 2026.
INEC noted that some activities regarding the Ekiti and Osun governorship elections have already been conducted, and the remaining activities will be implemented in accordance with the Electoral Act, 2026.
Speaking at a news briefing in Abuja two weeks ago, the chairman of INEC, Mr Joash Amupitan, expressed the readiness of the commission to conduct the polls next year.
The timetable issued by the organisation for the polls at the time came when the federal parliament had yet to transmit the amended electoral bill to President Bola Tinubu for assent.
Later that week, the Senate passed the electoral bill, reducing the notice of elections from 360 days to 180 days, while the transmission of results was mandated with a proviso.
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