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Nigerian REITs: Skye Shelter Outperforms UHomes and UPDC in 2025

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Nigerian REITs: Skye Shelter Outperforms UHomes and UPDC in 2025

Skye Shelter Fund has emerged as the top-performing listed Real Estate Investment Trust (REIT) in Nigeria for 2025, outpacing competitors Union Homes (UHomes) and UPDC REIT in both returns and market resilience.

Market data tracked by analysts show that Skye Shelter delivered stronger yields and demonstrated better price stability despite a challenging macroeconomic environment marked by high interest rates, inflationary pressures, and reduced purchasing power. Investors attribute its performance to prudent asset management, higher occupancy rates across its real estate portfolio, and timely dividend distributions.

In contrast, Union Homes and UPDC REITs faced weaker performance, with analysts citing sluggish rental income growth, valuation pressures, and operational inefficiencies. UPDC, in particular, has struggled with underperforming assets and restructuring costs that continue to weigh on its returns.

Sector observers note that 2025 has been a mixed year for Nigeria’s REIT market, which remains relatively underdeveloped compared to global standards. While REITs are designed to provide steady income streams and diversification opportunities for investors, challenges such as limited liquidity, low investor awareness, and regulatory bottlenecks have constrained their full potential in the Nigerian capital market.

Despite these hurdles, Skye Shelter’s showing is seen as a sign of the sector’s resilience and potential. Analysts argue that with the right policy support—including tax incentives, investor education, and stronger corporate governance—Nigeria’s REIT market could play a greater role in deepening real estate financing and providing alternative investment options.

Looking ahead, fund managers expect continued investor interest in Skye Shelter, particularly if the fund sustains its dividend record and maintains operational efficiency. However, the broader REIT sector will likely depend on macroeconomic stability and regulatory reforms to unlock significant growth.

UNGA 80: Nigeria Calls for Sovereign Debt Relief to Strengthen Emerging Economies

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UNGA 80: Nigeria Calls for Sovereign Debt Relief to Strengthen Emerging Economies

Nigeria has urged the international community to adopt comprehensive sovereign debt relief measures to support emerging economies grappling with high debt burdens and limited fiscal space.

Speaking at the 80th session of the United Nations General Assembly in New York, Nigeria’s delegation stressed that unsustainable debt levels are undermining development goals, particularly in Africa, where many nations devote large portions of their budgets to debt servicing at the expense of critical investments in infrastructure, health, and education.

The call comes amid growing global debate on the need to reform international financial systems to reflect current economic realities. Nigeria argued that debt relief would not only provide immediate fiscal breathing room but also empower developing nations to pursue sustainable growth and contribute meaningfully to global economic stability.

“Without decisive action on sovereign debt, many emerging economies risk being trapped in cycles of austerity and underdevelopment,” the delegation noted. “A fair and transparent debt relief framework is essential for achieving the Sustainable Development Goals.”

The Nigerian government has consistently advocated for financial reforms at multilateral forums, including restructuring the international debt architecture, increasing access to concessional financing, and ensuring that credit rating practices reflect the true potential of African economies.

Analysts say Nigeria’s intervention at UNGA aligns with wider calls from the African Union, which has repeatedly pressed for a global mechanism to manage debt distress and prevent defaults. Several African countries, including Zambia, Ghana, and Ethiopia, are currently in negotiations with creditors under the G20 Common Framework.

Observers at the assembly noted that while creditor nations remain cautious, there is a growing recognition that addressing sovereign debt challenges is critical to global stability, especially in the wake of rising geopolitical tensions and economic shocks.

Nigeria’s demand underscores its positioning as a leading voice for Africa in global economic governance, with expectations that further negotiations could shape the international community’s approach to debt relief in the years ahead.

 

11PLC CEO Warns Higher Capital Gains Tax Could Discourage Investment in Nigeria

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11PLC CEO Warns Higher Capital Gains Tax Could Discourage Investment in Nigeria

The Chief Executive Officer of 11PLC, Otunba Adetunji Oyebanji, has expressed concern that Nigeria’s recent tax reforms, particularly the steep rise in capital gains tax (CGT), may discourage major investments in the country.

Speaking in Lagos ahead of the 2025 Annual Directors’ Conference, Oyebanji warned that the new tax regime introduced under the Nigeria Tax Act (NTA) could undermine investor confidence in high-capital projects.

According to him, the increase in CGT from 10 percent to 30 percent marks a significant shift in fiscal policy that alters the investment climate. He noted that while governments around the world use tax reforms to raise revenue, they typically balance such measures with incentives to maintain competitiveness.

“One of the areas we focused on was the capital gains tax which has increased significantly. We are concerned that the economy is now more sensitive to high capital investments because some of the reliefs for the lower level of capital gains tax that existed before are going to be removed,” Oyebanji said.

He cautioned that the sharp increase could force potential investors to look elsewhere, especially in sectors requiring substantial upfront commitments such as energy, infrastructure, and technology. “Foreign direct investment is highly responsive to tax regimes. A sudden escalation like this may put Nigeria at a disadvantage compared to other emerging markets,” he added.

The federal government has defended the NTA as a critical tool to boost non-oil revenue and plug fiscal deficits, arguing that the reforms are designed to improve fairness in the tax system. However, business leaders and industry analysts have raised concerns about the timing and scale of the changes, particularly at a period when the economy is still recovering from sluggish growth, high inflation, and foreign exchange volatility.

The issue of tax competitiveness is expected to feature prominently at the Annual Directors’ Conference, where corporate leaders, policymakers, and regulators will deliberate on strategies to align Nigeria’s fiscal framework with long-term investment and growth objectives.

Oluremi Tinubu Raises ₦20.7 Billion to Revive Nigeria’s National Library Project

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Oluremi Tinubu Raises ₦20.7 Billion to Revive Nigeria’s National Library Project

The long-abandoned National Library Headquarters project in Abuja has received a fresh lifeline, thanks to an intervention led by Nigeria’s First Lady, Senator Oluremi Tinubu.

At her 65th birthday celebration, Tinubu launched the Oluremi @65 Education Fund, which raised ₦20.7 billion toward completing the stalled national monument. The National Library project, initiated in 2006, has languished for nearly two decades due to funding shortfalls, contract disputes, and shifting government priorities.

According to project estimates, full completion requires ₦32 billion. With the new contributions, the government can now complete the main reading halls, digital infrastructure, children’s literacy wing, and public access areas, leaving a funding gap of ₦11.3 billion for finishing touches and specialized facilities.

President Bola Tinubu has already directed the Tertiary Education Trust Fund (TETFund) to support the final phases of construction, signaling strong federal backing for the effort.

In his remarks, former Anambra State Governor and Labour Party presidential candidate Peter Obi welcomed the renewed momentum but questioned why such a critical national institution should rely on donations tied to birthdays or private initiatives. Observers, however, note that Obi’s critique underscores a long-standing challenge of institutional neglect rather than diminishing the significance of the First Lady’s drive.

Comparisons have been drawn to global examples where leaders’ spouses spearheaded literacy and library projects. Barbara Bush in the United States and Queen Rania of Jordan are cited as counterparts who turned advocacy into lasting infrastructure for education and literacy.

Analysts argue that Nigeria’s private sector and philanthropic community should now match Tinubu’s efforts, either by sponsoring sections of the project or contributing books and resources. Historically, major public libraries such as the New York Public Library and the British Library were completed with a mix of government support and citizen philanthropy.

For many education advocates, Oluremi Tinubu’s intervention is more than symbolic. It represents a chance to finally deliver on a promise to Nigeria’s 130 million citizens, providing a modern hub for research, literacy, and digital learning.

“The First Lady has not only marked her birthday but also marked a turning point,” said Olabode Opeseitan, Editorial Architect and commentator on legacy projects. “She is shaping the legacy of a generation by reviving the heart of a national institution.”

The project’s renewed momentum has reignited hope that the National Library will soon move from an abandoned site into a functioning center of knowledge and culture, anchoring Nigeria’s intellectual future.

 

Nigeria’s N-ATLAS Platform Highlights Africa’s Growing Role in Global AI — Minister Bosun Tijani

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Nigeria’s N-ATLAS Platform Highlights Africa’s Growing Role in Global AI — Minister Bosun Tijani

Nigeria’s Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, has said that the country’s National Artificial Intelligence Strategy (N-ATLAS) demonstrates how Africa is beginning to shape the global artificial intelligence (AI) landscape.

Speaking at a recent technology forum in Abuja, Tijani described N-ATLAS as a landmark initiative designed to position Nigeria as a hub for responsible AI development while amplifying Africa’s voice in setting global standards.

“N-ATLAS is not just a national strategy, it is proof that Africa is actively contributing to the global AI conversation,” Tijani stated. “For too long, our continent has been seen only as a consumer of technology. With initiatives like this, we are showing the world that Africa can lead in innovation, governance, and application of AI.”

The minister explained that the platform will guide the integration of AI into critical sectors such as healthcare, education, agriculture, and security, while also promoting ethical standards to ensure technology serves humanity responsibly. He added that collaboration with African partners and the diaspora will be central to driving the vision.

According to Tijani, Africa’s youthful population, growing tech ecosystem, and expanding digital infrastructure give it a unique advantage in building AI solutions tailored to local and global challenges. He noted that the success of N-ATLAS could inspire similar frameworks across the continent.

Industry analysts have welcomed the strategy, describing it as timely given the rapid pace of AI adoption worldwide. They argue that Africa’s participation in shaping rules and frameworks will prevent marginalisation in future technological governance.

Nigeria is among the first African countries to publish a comprehensive AI framework, a move that aligns with the government’s broader digital economy agenda and ambition to build a knowledge-driven economy.

Federal Government to Begin Nationwide Academic Credential Verification for Staff and Recruits from October 6

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Federal Government to Begin Nationwide Academic Credential Verification for Staff and Recruits from October 6

The Federal Government has announced plans to commence nationwide verification of academic certificates for all public sector employees and new recruits, beginning October 6, 2025.

According to a statement released in Abuja, the exercise will cover ministries, departments, and agencies (MDAs), with the aim of curbing the rising incidence of certificate forgery and ensuring that only qualified personnel remain in service.

Officials explained that the verification process will involve collaboration with universities, polytechnics, and examination bodies both within and outside Nigeria. Digital platforms will also be deployed to track, authenticate, and archive records of employees’ academic qualifications.

Government sources disclosed that the initiative forms part of ongoing reforms to improve efficiency and integrity in the civil service. “This verification will not only help eliminate fake certificates but also restore confidence in the recruitment and promotion processes across the public service,” the statement noted.

The exercise is expected to be phased, starting with federal workers before extending to parastatals and agencies. Newly recruited staff will also be required to undergo screening before confirmation of their appointments.

Analysts have described the policy as a decisive step in addressing a long-standing problem in Nigeria’s workforce, where cases of falsified credentials have repeatedly undermined standards and productivity. However, they stress that implementation must be transparent and free of bias to achieve its objectives.

The verification programme, once fully operational, is anticipated to serve as a reference framework for both public and private sector employers, setting a new standard for accountability in Nigeria’s labour system.

 

Experts Welcome, SMEs Raise Concerns as CBN Cuts Monetary Policy Rate to 27%

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Experts Welcome, SMEs Raise Concerns as CBN Cuts Monetary Policy Rate to 27%

The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) to 27 percent, drawing mixed reactions from economists, financial analysts, and small business operators.

The decision, announced after the September meeting of the Monetary Policy Committee (MPC), represents the first downward adjustment in months, as the apex bank continues efforts to balance inflation control with economic growth.

Financial experts have largely applauded the move, noting that a cut in the benchmark interest rate could ease borrowing costs for commercial banks and encourage increased lending to productive sectors. They argue that lower rates will support investment, stimulate consumer spending, and signal a gradual shift towards monetary easing.

Dr. Oladipo Adeyemi, a Lagos-based economist, said the cut was “a necessary step in cushioning the impact of tight monetary conditions,” adding that it may boost liquidity and support recovery in sectors slowed by high credit costs.

However, reactions from small and medium-scale enterprises (SMEs) have been less enthusiastic. Many operators say that despite changes in the MPR, commercial lending rates remain prohibitively high, often compounded by hidden charges and stringent collateral requirements.

“Reducing the MPR is good on paper, but most SMEs will not feel the impact unless banks actually lower their lending rates,” said Mrs. Funmi Adebayo, a textile manufacturer in Aba. “For us, the cost of credit is still too expensive to expand our businesses.”

Some SME associations also expressed concern that inflationary pressures and foreign exchange instability may offset any short-term gains from the CBN’s policy shift.

Analysts believe the apex bank will need to complement the rate cut with broader financial reforms to ensure credit reaches businesses that drive job creation and growth. They also stress the importance of monitoring inflation, which has remained stubbornly high despite previous tightening measures.

The MPR — the rate at which the CBN lends to commercial banks — remains one of the bank’s primary tools for managing liquidity and controlling inflation. The latest decision marks a cautious attempt to stimulate growth while keeping inflationary risks in check.

 

President Tinubu Orders Fresh Engagement on Ogoni Oil Production, Honours Fallen Heroes

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President Tinubu Orders Fresh Engagement on Ogoni Oil Production, Honours Fallen Heroes

President Bola Ahmed Tinubu has ordered a renewed round of consultations aimed at reopening oil production in Ogoniland, nearly three decades after the suspension of activities in the area following years of conflict and environmental agitation.

Speaking at a state ceremony in Abuja on Tuesday, the President directed the National Security Adviser, Mallam Nuhu Ribadu, to coordinate fresh talks between the Nigerian National Petroleum Company Limited (NNPCL), Ogoni leaders, and other stakeholders. The discussions are expected to address long-standing grievances around environmental degradation, compensation, and equitable participation in oil-related benefits.

President Tinubu said the new engagement was designed to “secure reconciliation, promote justice, and ensure that the people of Ogoniland benefit directly from the resources of their land.” He described the Ogoni struggle as a symbol of Nigeria’s broader challenge of balancing resource exploitation with social and environmental responsibility.

As part of the occasion, the President also conferred posthumous national honours on four prominent Ogoni leaders—Ken Saro-Wiwa, Barinem Kiobel, Saturday Dobee, and John Kpuinen—who were executed in 1995 under the military regime of late General Sani Abacha. Their deaths, widely condemned across the world, remain a defining chapter in Nigeria’s history of environmental rights activism.

Tinubu praised their sacrifice as “a reminder of the enduring cost of justice denied,” while pledging that his administration would uphold the principles for which they stood. He said the federal government was committed to completing ongoing environmental remediation in Ogoniland, expanding development projects, and strengthening partnerships that bring both peace and prosperity to the Niger Delta.

Oil exploration in Ogoniland, a key part of the Niger Delta, has remained suspended since the mid-1990s following community protests against environmental destruction and poor living conditions despite decades of crude extraction. Efforts by successive governments to restore production have repeatedly stalled due to mistrust, security concerns, and unresolved legal disputes.

Analysts view Tinubu’s directive as a significant policy move that could unlock billions of dollars in oil reserves, but they caution that success will depend on transparent negotiations, community trust, and a strong framework to manage revenue distribution.

The renewed talks and symbolic honouring of the “Ogoni Four” may signal a fresh chapter in the relationship between the federal government and the Ogoni people, with hopes that dialogue will finally yield lasting peace and sustainable development in the oil-rich but troubled region.

 

Lagos Government Blames Flash Floods on Illegal Construction and Waste Dumping

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Lagos Government Blames Flash Floods on Illegal Construction and Waste Dumping

The Lagos State Government has attributed the recent flash floods that disrupted movement across parts of the state to uncontrolled building practices and indiscriminate waste disposal by residents.

In a statement issued on Tuesday, the Commissioner for Environment and Water Resources, Tokunbo Wahab, said several neighborhoods were submerged following heavy rainfall, not only because of natural factors but also due to human activities that block drainage systems.

Wahab explained that investigations by the ministry revealed that some property owners had erected structures on drainage channels, while others converted flood plains into residential sites. “When you build on natural waterways or dump refuse into the drains, the system collapses. The flooding we are experiencing is largely a consequence of lawlessness and disregard for urban planning rules,” he said.

He added that the government had already identified dozens of illegal structures obstructing free water flow in flood-prone areas and warned that demolition exercises would soon commence. According to him, such enforcement measures are necessary to protect lives, property, and the city’s infrastructure.

The commissioner also decried the widespread dumping of plastic waste and non-biodegradable materials into canals, noting that they choke water channels and intensify flooding during heavy rainfall. He urged residents to embrace responsible waste disposal, warning that the state will strengthen its environmental monitoring task force to punish violators.

While reassuring Lagosians that ongoing dredging and expansion of major drainage networks would help ease the problem, Wahab cautioned that no amount of government investment would succeed unless residents supported the effort by changing their behavior.

The flash floods, which occurred after a downpour lasting several hours, left roads impassable in parts of Victoria Island, Lekki, Ajah, and the mainland, causing gridlock and damaging several vehicles.

Environmental experts argue that with Lagos’ rapid urbanization and its coastal location, sustainable drainage systems and strict enforcement of planning regulations remain critical to mitigating future floods.

 

NDLEA Proposes Mandatory Drug Integrity Tests for Driver’s Licence Applicants

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NDLEA Proposes Mandatory Drug Integrity Tests for Driver’s Licence Applicants

The National Drug Law Enforcement Agency (NDLEA) has proposed the introduction of compulsory drug integrity tests for all Nigerians applying for driver’s licences.

Chairman and Chief Executive of the NDLEA, Brigadier General Buba Marwa (Retd), disclosed this during a policy dialogue in Abuja on Tuesday. He explained that the measure was aimed at curbing road accidents and promoting public safety by ensuring that drivers are free from the influence of illicit substances.

Marwa noted that drug use among motorists has contributed significantly to reckless driving, road rage, and accidents across the country. According to him, integrating drug testing into the licensing process would help identify and rehabilitate individuals struggling with substance abuse before they are allowed behind the wheel.

“Driving under the influence is a silent killer on our roads. If we must reduce accidents and safeguard lives, drug integrity tests should become part of the mandatory requirements for obtaining a driver’s licence,” he said.

The NDLEA boss stressed that the agency is already in talks with the Federal Road Safety Corps (FRSC), the Vehicle Inspection Office (VIO), and other stakeholders to develop an implementation framework. He also urged state governments to support the proposal and align their road safety regulations with national objectives.

Marwa emphasized that the initiative was not punitive but corrective, adding that individuals who fail the tests would be referred for counseling and rehabilitation rather than criminal prosecution.

The proposal has generated mixed reactions among transport unions and civil society groups. While road safety advocates welcomed it as a step toward safer highways, some stakeholders expressed concern about possible abuse, privacy violations, and the cost implications for applicants.

Nigeria records thousands of road accidents annually, with human error and impaired driving often cited as major causes. The NDLEA maintains that mandatory testing could help reduce fatalities and promote a culture of responsibility on the roads.

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