The Nigerian Institute of Town Planners (NITP) on Friday decried the poor awareness of urban planning regulations with the attendant negative implications for well-planned and standardized urban structures in the country. The professional body’s National President, Mr. Toyin Ayinde, who spoke in Bauchi when he led a delegation of the Institute on an advocacy visit […]
Gallagher Re, one of the world’s leading reinsurance brokerage firms, has reported that insured losses from major catastrophes in 2021 have so far reached $116 billion, the third largest in 10 years. The reinsurance broker also reported that the figure was about 63% higher than the average annual loss since 2011. For instance, it recalled […]
House of Representatives Ad-Hoc Committee on Investigation of Operations of Real Estate Developers in the Federal Capital Territory (FCT), has threatened to sanction real estate developers for alleged violation of laid down rules and procedures guiding real estate business in the FCT. The threat was made after the members of the Committee had conducted oversight […]
The Vice President and Chairman of the National Council on Privatisation (NCP), Prof. Yemi Osinbajo (SAN), has tasked members of the reconstituted NCP to tackle new transactions and reform activities of the Federal Government as well as resolve some of the thorny economic issues that are critical to the country’s accelerated economic development. Inaugurating the […]
The Securities and Exchange Commission Nigeria (SEC) has pledged to collaborate with relevant stakeholders on real estate investments in a bid to reduce Nigeria’s housing deficit and improve the sector’s contributions to the Gross Domestic Product (GDP). Director General of the commission, Mr. Lamido Yuguda, made the promise during a meeting with the leadership of […]
New research findings have indicated that some re/insurers may discontinue their risk coverage from the property catastrophe space in 2022 due to rising frequency and severity of secondary perils that are adding pressure to margins, leading to greater diversification towards other classes of business A report by Peel Hunt, a United Kingdom-based boutique investment banking […]
The Lagos Chamber of Commerce and Industry (LCCI) on Tuesday commended the monetary authorities on recent policy measures adopted to manage the economy and canvassed the need for improved non-oil revenue and infrastructure development to sustain the current growth trajectory in the nation’s economy. The President of the organized private sector (OPS) umbrella body, Mrs. […]
Latest market report by Rightmove Plc, a UK-based real estate company, indicated that the national average price of properties coming to market in the UK has hit an all-time high as fierce competition among buyers for the record low number of available properties for sale continues. A news report by yahoo.com stated that the firm’s […]
China’s factory and retail sectors slumped in August with output and sales growth hitting one-year lows as new COVID-19 variant adversely affected supply of goods and service, thereby undermining the government’s economic recovery drive. Industrial production rose 5.3 per cent in August from a year earlier, dropping marginally from an increase of 6.4 percent recorded […]
The latest data from the World Meteorological Organization (WMO) have estimated that weather, climate and water related disasters drove some US$ 3.64 trillion in losses over the last 50 years, thereby laying bare the high costs of weather disasters around the globe over the decades. The WMO’s latest Atlas of Mortality and Economic Losses from […]