Economic Downturn: Vacancies in Lekki, VI, Ikoyi properties rise 72% in 18 months
The number of vacant properties in the upper class real estate neighbourhoods of Lekki, Victoria Island and Ikoyi has risen by 72 percent over the last 18 months, a report by the Financial Derivatives Company Limited (FDC) has stated. The FDC’s Vacancy Factor Index (VFIX) for 2nd Quarter June 2016 report attributed the rise in the number of vacant properties, based on the housing stock as at January 2015, to a combination of rising inflation, GDP contraction, falling consumer confidence and increasing unemployment rates contrived to lower demand for housing.
Lay down your arms, Timi Frank begs Avengers
ABUJA—Acting National Publicity Secretary of All Progressives Congress, APC, Mr Timi Frank, has called on the Niger Delta Avengers and other militant groups in the Niger Delta region to lay down their arms and give the Federal Government a chance to redeem its promises to the region.
Ex-militants’ protest: Army, DSS, Police, Navy take over Warri, Effurun
WARRI—THE Nigerian Army, Navy, Police and Department of State Services, DSS, have deployed personnel in strategic locations in Warri, Effurun and environs in Delta State, following intelligence report that ex-militants plan to protest the non-payment of their monthly allowances.
Bdcs: Has the leopard changed its spots?
In January 2016, the CBN announced that it had stopped, with immediate effect, the sale of foreign exchange to Bureau de Change (BDCs), so as to reduce pressure on Nigeria’s foreign reserves. The CBN Governor, Godwin Emefiele, has therefore directed BDCs to henceforth source forex from the autonomous market.
Nigeria’s quest to reclaiming economic stability
Sentiment towards the Nigerian economy received a painful blow in July following the shocking reports that the nation had slipped into a technical recession. Africa’s largest economy has been heavily pressured by falling commodity prices, while external global uncertainties continue to expose the nation to noticeable downside risks.
Lagos to disburse N25bn employment fund in Sept.
Lagos State Government has said that the disbursement of N6.25billion being the first tranche of N25 billion, Employment Trust Fund, ETF, to beneficiaries would finally commence in September, 2016, aimed at stimulating the Small and Medium-sized Enterprises of the state economy.
