NEXIM Attends African Dev Bank Meeting in India

The Central Bank of Nigeria (CBN) has directed all...

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The opening month of 2022 revealed a solid expansion...

Nigerian President Goodluck Jonathan makes a declaration in front of supporters at a ceremony in Abuja on November 11, 2014. Goodluck Jonathan’s rise to the top of the pile in Nigeria’s ruthless political world has been described as accidental -- a matter of good luck. But the amazing run of coincidence and chance that brought the son of a canoe-maker to the Presidential Villa in the capital, Abuja, seems to have come to an end.

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PricewaterCoopers (PwC) has projected the contribution of real estate to the country’s Gross Domestic Product (GDP) to grow by almost N3 trillion in 2016. The accounting firm however said this is dependent on the right environment, which include adherence to global best practices in the sector, transparency and timely delivery on project execution, among others. The sector currently contributes about N1.8 trillion to the GDP. “Going by PWC revelation and the quest to meet the vision 2020 target, a lot needs to be done towards improved public infrastructure to drive the required positive change in the real estate and facilities management industry, in addition to improving the living condition of the average Nigerian.