Knight Frank Spotlights Infrastructure Growth, Market Resilience, Emerging Trends in New Report 

Knight Frank Nigeria has highlighted the resilience of Lagos’ real estate sector, pointing to stabilising macroeconomic conditions, rising office occupancies, infrastructure-driven opportunities, and a fast-expanding digital economy as defining features of the market in the first half of the year. 

This disclosure was made during a briefing in Lagos to announce the release of the H1 2025 edition of its flagship research report, the Lagos Market Update. 

Insights from the report, alongside commentaries from the firm’s leadership, underscore how affordability pressures, shifting consumer preferences and investor confidence are reshaping the city’s property landscape. 

The report showed that Nigeria’s economy gained some traction in the first half of 2025, with inflation falling from 34.8 per cent in December 2024 to 22.97 per cent in May 2025 (partly due to CPI rebasing by the National Bureau of Statistics), while the naira appreciated from N1,661 to N1,539 to the US dollar. 

These shifts influenced the residential, office, retail, industrial and infrastructure markets across the city.

Speaking at the media briefing, the Senior Partner/CEO of Knight Frank Nigeria, Frank Okosun, said: “The Lagos property market is a mirror of Nigeria’s economic realities. In the first half of 2025, we witnessed significant reforms that stabilised the naira, a notable drop in inflation, and a renewed push for infrastructure development. These shifts are directly shaping the dynamics of real estate across the city.”

The Head of Marketing and Corporate Communications at Knight Frank Nigeria, Lanre Sonubi, added: “This report is not just a presentation of figures, it decodes the implications of market shifts. For instance, while office occupancies are rising, rents are softening, creating opportunities for tenants. These insights are essential for investors, occupiers and policymakers who must anticipate change and make informed decisions.”

According to the report, the residential sector is adjusting to changing demand patterns, with tenants exploring suburban areas such as Ikorodu and Ibeju-Lekki, while short-let apartments and studio housing continue to grow in popularity.

The Lead Research Analyst at Knight Frank Nigeria, Mr Daniel Fabi, also noted that the office market showed resilience as occupancy in Grade A spaces rose from 65 per cent to 73 per cent, even though prime rents in Ikoyi softened slightly to $55 per square metre. 

“Eko Atlantic City is consolidating its status as a new business hub, with MTN Nigeria and First Bank relocating their headquarters there,” he added.

Meanwhile, in the retail sector, consumer preferences are shifting towards hyper-local shopping outlets, with local players such as Bokku! Mart expanding rapidly to over 150 branches, outpacing international brands.

The industrial sector also posted gains, supported by increased manufacturing activity and policy reforms such as the Federal Government’s ‘Nigeria First’ initiative.

Infrastructure development remains a key growth driver. 

Projects such as the Lagos-Calabar Coastal Highway, the 68km Green Line rail, and the Opebi-Mende Bridge are expected to open up new opportunities for real estate and economic activity.

The report also highlighted the rapid growth of digital infrastructure, with Lagos now hosting 18 data centres and more under construction. 

Rack Centre inaugurated a new 12MW facility in April, while Open Access Data Centres announced a US$240 million expansion that will double its capacity to 24MW by 2027, further positioning Lagos as a hub for Africa’s digital economy.

The post Knight Frank Spotlights Infrastructure Growth, Market Resilience, Emerging Trends in New Report  appeared first on THISDAYLIVE.

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    NULGE: FG Has Paid Osun State’s LG Allocations into Accounts Operated By Sacked APC Chairmen, Councillors

    NULGE: FG Has Paid Osun State’s LG Allocations into Accounts Operated By Sacked APC Chairmen, Councillors

    *Describes action as bizarre, scary, unprecedented

    The Nigeria Union of Local Government Employees (NULGE), Osun State Chapter, has raised alarm over what it described as an “unprecedented abuse of power” by key federal government officials in the handling of the state’s local government allocations.

    Speaking at a press conference in Osogbo on Sunday, the state NULGE President, Dr. Nathaniel Ogungbangbe, accused the Minister of Finance, the Accountant-General of the Federation, and the Attorney-General of the Federation of unlawfully releasing Osun’s local government funds into accounts operated by sacked All Progressives Congress (APC) chairmen and councilors.

    According to him: “Today, we have it on good authority that these three principal officers of the federal government have released the Osun State Local Government Councils’ allocations for the month of March, 2025 to September, 2025 to the illegal bank accounts opened by court-sacked APC chairmen and councilors.
    “We find this development very scary and alarming. Paying local government allocations into privately opened and illegal bank accounts of politicians is unbelievable, bizarre and unprecedented in the history of public administration in Nigeria.”

    Dr. Ogungbangbe explained that the controversial accounts were opened with United Bank for Africa (UBA) without due process.
    He continued: “These funds were paid to the accounts opened by these APC men with United Bank for Africa despite the fact that due process was not followed in opening the said accounts.”
    The union leader argued that the action of the federal officers amounted to a violation of both the constitution and judicial pronouncements.

    “We strongly believe that if these three principal officers of the federal government and the entire federal government which they represent do not have respect for our constitution, which they have sworn to uphold, they ought to have respect for our judicial authorities more particularly the Supreme Court of Nigeria before whom the suit in respect of these funds is currently pending.”

    NULGE recalled that the Federal High Court had on May 15, 2025, ordered all parties to maintain the status quo, a directive which the Central Bank of Nigeria had acknowledged as binding in their court filings.
    “It is on record that the Federal High Court of Nigeria on 15th May, 2025 ordered parties to maintain status quo, an order which has been acknowledged by the Central Bank of Nigeria as hindering them from making payment.
    “It is public knowledge that the Federal High Court is to further sit on this matter on 29/09/2025. It is worrisome that these officers and the federal authorities, which they represent, do not have respect for the authority of the courts.

    “We wish to remind them that a country that does not have respect for its own judicial authorities is digging its own grave.”
    The Osun NULGE president stressed that both the Federal High Court and the Court of Appeal had sacked the APC chairmen and councilors, while new elections had already produced fresh leaders.
    “We are not politicians, but our work as career officers who are expected to protect the assets of the councils is directly impacted by this illegal action of the federal government.

    “There are existing bank accounts of the 30 local governments in various commercial banks. What informed the opening of the UBA accounts by the APC politicians in the names of the 30 local governments in Osun State, with the active support of the Attorney General of the Federation?”

    Dr. Ogungbangbe further warned against undermining the rule of law, insisting that the Attorney-General of the Federation could not overrule the courts.

    “This is supposed to be a democracy and we insist on the RULE OF LAW. We cannot be expected to work with politicians who have been sacked by competent courts of law but are being imposed on our state by the Attorney General.

    “The Attorney-General cannot assume the role of the Supreme Court by setting aside the judgment of the Court of Appeal, which affirmed the sacking of the APC politicians by the Federal High Court. The Attorney-General is NOT above the law.”

    Calling for calm in Osun, the union urged residents not to allow “enemies of the state” to incite violence that could justify a declaration of emergency rule.

    “We wish to state unequivocally that the alternative to the rule of law is what we do not want for our state. On our part, we appeal to all the good people of Osun State not to give the enemies of the state any room to cause crisis in the state.

    “Their ultimate goal is to cause anarchy and use it to call on Mr. President to declare a state of emergency in the state so that they could have access to our resources.

    “We appeal to Mr. Governor to continue to ensure absolute peace in the state as he is excellently doing. Let all of us have faith in the Almighty God and our courts. By His special grace, this cup shall soon pass.”

    ​  

    *Describes action as bizarre, scary, unprecedented The Nigeria Union of Local Government Employees (NULGE), Osun State Chapter, has raised alarm over what it described as an “unprecedented abuse of power”

    Gana: Nigerians Now Know the Difference After Buhari, Tinubu, Want Jonathan Back

    Gana: Nigerians Now Know the Difference After Buhari, Tinubu, Want Jonathan Back

    *Says ex-president will contest 2027 poll in PDP 

    *Niger PDP elects new officials

    Laleye Dipo in Minna

    Former Minister of Information and chieftain of Peoples Democratic Party (PDP), Professor Jerry Gana, said at the weekend that having seen the disparity in their lives after eight years of former President Muhammadu Buhari and two years under incumbent President Bola Tinubu, Nigerians, who had fallen for deceits by some politicians in 2015, when ex-President Goodluck Jonathan lost his re-election bid, now knew better and want his return.

    Gana spoke on Saturday in Minna after the election of new officials by the Niger State chapter of PDP.
    He confirmed that Jonathan would contest the 2027 presidential election on the platform of PDP.
    The former minister stated, “In 2015, former President Goodluck Ebele Jonathan said his ambition is not worth the blood of Nigerians. After him another president ruled for eight years and now another has ruled for two years.
    “Nigerians have seen the difference and the difference is very clear. Nigerians are now asking us to bring back our friend, former President Goodluck Ebele Jonathan.

    “I can confirm that Goodluck Ebele Jonathan will contest the presidential election in 2027 as PDP candidate and you will vote for him to return as President again.”
    The PDP chieftain declared that the party was   democratic, stressing that democracy deals with the will of the people to freely choose who they want.

    He said, “PDP has tremendous opportunity in 2027 because it is truly a grassroots party.
    “The people of Nigeria love the PDP because it came with programmes that are people-oriented. That is why they remember PDP immensely, and they are urging us to come back.”

    He dismissed insinuations about crisis in PDP, explaining, “When there was a near crisis in the party, the founding fathers convened a consultative conference in Abuja and addressed all the issues at the time.”
    Gana criticised the federal government for discouraging foreign investors from coming to Nigeria.
    He stated, “This government, they have a number of evil gatekeepers, keeping away foreign investors. That’s their major problem. Nigeria is the best place to grow your money.”

    A new executive emerged from the PDP state congress held on Saturday, with Alhaji Aliyu Halidu elected as the new state chairman of the party.
    Halidu polled 1,289 votes to defeat his closest rival and PDP zonal chairman, Alhaji  Yahaya Abdullahi (Ability), who secured 1,269 votes.

    Abdullahi had been favoured to succeed Mr Tanko Beji as chairman.
    Announcing the results, Chairman of the PDP Electoral Committee, Alhaji Tanimu Turaki, announced that eight positions were contested while candidates for the other positions were returned unopposed.

    Turaki declared Alhaji Khadi Kuta, a former commissioner in the state, as Secretary of the party, and said he was returned unopposed, while Mrs. Salome Ndakosu won the women leader position with 1,373 votes, to defeat Ramotu Jibrin, who got 590 votes.
    In his acceptance speech, Halidu sought the support of PDP members to make the party great again.

    He said, “PDP is strong in population at the grassroots.

    “PDP is ready to dislodge the ruling party in 2027. I, therefore, implore members to join hands in ensuring the return of people oriented government in 2027.”

    ​  

    *Says ex-president will contest 2027 poll in PDP  *Niger PDP elects new officials Laleye Dipo in Minna Former Minister of Information and chieftain of Peoples Democratic Party (PDP), Professor Jerry

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