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Real estate potential in Nigeria remains largely untapped — Alonge

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…expresses readiness to partner with FG for economic development

By Kayode Sanni-Arewa

PRESIDENT of the Nigerian Institution of Estate Surveyors and Valuers, ESV Victor Alonge, on Monday said that the potential of the real estate sector as a catalyst of economic growth in the country remains largely untapped.

Alonge, stated this in his welcome address during his inauguration as the 26th President and Chairman of Chairman of Council at the Banquet Hall of the Presidential Villa, Abuja.

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He lamented that the poor state of the real estate sector in Nigeria has continually stifled its capacity to optimally contribute to national economic growth.

He expressed readiness to partner with the government by offering expertise, resources, and support that can enhance the success and impact of the various development efforts of government.

The 26th President and Chairman of Council of the NIESV, noted that real estate remains the most priced and valuable assets all over the world, adding that data obtained from Savills World Research (2023), put the total value of the global real estate assets at US$379.7 trillion at the end of 2022.

According to him, “Real estate remains the most priced and valuable assets all over the world. According to data obtained from Savills World Research (2023), the total value of the global real estate assets is estimated at US$379.7 Trillion at the end of 2022. This outpaced the combined value of global equity and bond assets estimated at $264 Trillion.

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“Real estate is also thrice as valuable as the total value of proven global oil reserves and represents about four times the value of global GDP. According to the data released by the National Bureau of Statistics, the Nigerian real estate sector contribution to the national GDP stands at about 6.87% in 2023. Contrastingly, the real estate sector contributes about 15% to the national economy in Indonesia, a developing and emerging economy like Nigeria.

“More so, in South Africa, the contribution of the real estate sector to national economy is estimated as 11.4% in 2023. The poor state of the real estate sector in Nigeria continually stifles its capacity to optimally contribute to national economic growth.

“Impliedly, the potential of the real estate sector as a catalyst of economic growth remains largely untapped in the country. Our Institution will, therefore, step up our support and collaboration with the Government, especially, in the areas of policy formulation and implementation, Land administration, Asset valuation and management, Housing, Project and Infrastructure development among others, to improve real estate sector’s contribution to our economic development.

“We are ready to be valuable ally to Government by offering our expertise, resources, and support that can enhance the success and impact of the various development efforts of Government. This is our promise,” he said.

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15 huts razed, one injured in renewed Jukun-Tiv violence

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A fresh outbreak of ethnic violence between the Jukun and Tiv communities has erupted in Taraba State, with suspected Jukun militias launching an early-morning attack on Dekeh Village along the Wukari–Kente Road.
According to security sources available to Zagazola Makama, the incident occurred at approximately 1:00 a.m. on Tuesday.

About six armed assailants stormed the village, opening fire indiscriminately and setting 15 huts ablaze. The attack forced residents to flee in panic, leaving behind food items, including yam seedlings, which were destroyed in the blaze.

One resident identified as Mdue Saaondo, sustained gunshot injuries during the assault. He was rescued by a joint team of police and military personnel and transported to the Federal University Teaching Hospital in Wukari for medical treatment.

The Taraba State Police Command has launched an investigation to identify and apprehend those responsible. Authorities have also scheduled a security meeting with the Wukari Local Government Traditional Council as part of efforts to restore peace and encourage dialogue between the Tiv and Jukun communities, who have long-standing disputes over land and territorial claims.

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“Patrol and surveillance operations are ongoing to forestall further violence and ensure stability in the area,” police authorities stated.

The incident adds to the growing list of violent clashes that have plagued southern Taraba in recent years, underscoring the urgent need for a sustainable resolution to the communal tensions.

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2025 U-20 AFCON: Flying Eagles zoom into quarter-final after draw with Kenya

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Nigeria’s Flying Eagles booked a place in the quarter-final at the 2025 Africa U-20 Cup of Nations after playing out a 2-2 draw against Kenya.

Aliyu Zubairu’s side finished second in Group B with five points from three games.

The Atlas Cub of Morocco top the group with seven points after beating Tunisia 3-1 at the Suez Canal Stadium in Ismailia.

Kenya started the game strongly, and deservedly took the lead after six minutes.

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Nigeria defender Emmanuel Chukwu handled the ball inside the box, and after initially awarding a free kick to Kenya, the centre referee pointed to the spot following consultation with VAR.

Captain Kevin Wangaya Colly slotted the ball past Ebenezer Harcourt to give the Rising Stars the lead.

The Flying Eagles fought back seven minutes later with Lillestrøm striker Kparobo Arierhi netting after he was put on through on goal by Simon Cletus.

Nigeria dominated the game in the second half but failed to test the Kenyan goalkeeper.

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Kenya took the lead for the second time in the game through substitute William Nwangi on 68 minutes.

Nwangi lashed home Humphrey Kegengo’s free kick from inside the box.

Daniel Bameyi, however, converted from the spot to hand the Flying Eagles a share of the spoils.

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Trump announces judicial nominees, accuses US court of obstruction

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United States President Donald Trump has announced a fresh slate of judicial nominees in a series of posts on Truth Social on Tuesday.

The president, who has repeatedly expressed frustration over what he sees as judicial obstruction, followed up on Wednesday with a post criticising the judiciary for allegedly preventing him from carrying out the mandate of the American people.

The Republican leader, whose second-term agenda has encountered multiple judicial roadblocks, wrote: “Our Court System is not letting me do the job I was Elected to do.

“Activist judges must let the [Donald] Trump Administration deport murderers, and other criminals who have come into our Country illegally, WITHOUT DELAY!!!”

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Trump named Maria Lanahan, Missouri’s Principal Deputy Solicitor General, as a nominee for a judgeship on the US District Court for the Eastern District of Missouri. He praised her as “a true patriot” in a post on Tuesday.

The 78-year-old also nominated Judge Cristian Stevens to serve on the same court, describing him in another post as “a Great Patriot.”

The announcements came a day after a federal appeals court declined the Trump administration’s request to revoke temporary legal status from hundreds of thousands of Nicaraguans, Venezuelans, Haitians, and Cubans living in the United States.

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