Uncategorized
High costs of building materials, threat to Real Estate Sector: Expert
- Urges sustainable practices to ease burden on tenants
Stephen Olufemi Oni, Ilorin
A Real Estate expert, Olumofe Dele Oluwole, has lamented the negative impact of high costs of building materials on the real estate sector in Nigeria.
According to him, factors such as inflation, currency devaluation, import restrictions, and supply chain disruptions, among others, contribute in no small measure to escalation of costs, making the industry to be vulnerable to challenges that are translating into increased rental values and reduced affordability for many Nigerians.
He said: “The volatile inflation rate and weakening naira make it difficult for developers to import materials at reasonable prices. The global supply chain disruptions brought about by the COVID-19 pandemic have also exacerbated the situation, affecting the availability and cost of building materials in the country.
“Additionally, government policies like import tariffs and high energy costs further drive up production and transportation expenses for materials used in construction projects.”
The repercussions of these high building material costs, he said, are far-reaching as tenants are the people bearing the brunt of increased rental values because developers pass on the elevated construction costs, adding that this, in turn, makes housing less affordable for many Nigerians. Consequently , he added, all these result in aggravating the housing deficit and impacting economic growth by reducing disposable income and increasing the cost of living.
To address these challenges, Oluwole recommended several mitigating strategies, saying “adopting sustainable building practices can significantly reduce construction costs, as well as exploring alternative building materials and increasing efficiency in construction processes.
He added: “Governments can also play a crucial role by offering incentives such as tax breaks or subsidies to developers who undertake affordable housing initiatives.
“The real estate sector in Nigeria is facing a significant hurdle in the form of high building material costs. To overcome this obstacle, collective efforts involving government support, sustainable building practices, adoption of alternative materials, and increased efficiency in construction processes is necessary.
“By implementing these recommendations, the industry can mitigate the impact of escalating costs and work towards providing affordable housing solutions for all Nigerians.”
End
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National Trail Mourns Pioneer Editor, Abdulazeez Suleiman
Inna Lillahi wa Inna Ilaihir-Raji’un.
The Chairman and Editor-in-Chief of , Hon. Inuwa Bwala, on behalf of the management and staff, has expressed deep sorrow over the death of veteran journalist and pioneer editor of the newspaper, Abdulazeez Suleiman.
Bwala also extended condolences to Suleiman’s family, associates and the Nigerian media industry, describing his passing as a monumental loss at a time his experience, courage and service to the nation were still greatly needed.
Suleiman reportedly died shortly before a scheduled surgery.
A pioneer editor of National Trail Newspaper, Abdulazeez Suleiman was regarded as a thoroughbred journalist with a remarkable talent for breaking exclusive stories and shaping public discourse through responsible journalism.
Throughout his distinguished career, he worked with notable media organisations, including National Trail Newspaper, Daily Trust, Summit and The Road. He earned widespread admiration for fearless reporting, ethical conduct and unwavering commitment to professionalism.
His writings and public interventions consistently reflected deep concern for justice, peace, accountability and national unity.
Beyond journalism, Suleiman was widely respected as a bridge-builder who strongly believed in dialogue, mutual understanding and peaceful coexistence among Nigeria’s diverse peoples. He remained steadfast in his conviction that truth and justice are essential pillars for national progress.
Though his voice has now gone silent, the values and ideals he stood for will continue to inspire generations. His legacy as a principled journalist, advocate and patriot will endure in the hearts of many whose lives he touched through his work and humanity.
The management and staff of National Trail Newspaper prayed Almighty Allah to forgive his shortcomings, grant him Aljannatul Firdaus and comfort his family, friends, colleagues and members of the in this moment of grief.
Rest in peace, Abdulazeez Suleiman. Your service and legacy will not be forgotten.
Uncategorized
JUST IN: After Primary Election Victory, Shehu Sani Visits Parents’ Graves to Offer Prayers and Express Gratitude to God
Following his victory in the party primary election, Senator Shehu Sani visited the graves of his parents to pray and give thanks to Almighty God.
The former senator described the visit as very important to him, noting that his parents played a significant role in his upbringing and in shaping his political life.
Shehu Sani prayed for Allah to forgive his parents and all deceased Muslims, while also reaffirming his commitment to continue serving the people with honesty and integrity after securing victory in the primaries.
The gesture has attracted attention from his supporters and social media users, many of whom praised his act of remembering his parents after a political success.
Uncategorized
National Trail Mourns Pioneer Editor, Abdulazeez Suleiman
Inna Lillahi wa Inna Ilaihir-Raji’un.
The Chairman and Editor-in-Chief of , Hon. Inuwa Bwala, on behalf of the management and staff, has expressed deep sorrow over the death of veteran journalist and pioneer editor of the newspaper, Abdulazeez Suleiman.
Bwala also extended condolences to Suleiman’s family, associates and the Nigerian media industry, describing his passing as a monumental loss at a time his experience, courage and service to the nation were still greatly needed.
Suleiman reportedly died shortly before a scheduled surgery.
A pioneer editor of National Trail Newspaper, Abdulazeez Suleiman was regarded as a thoroughbred journalist with a remarkable talent for breaking exclusive stories and shaping public discourse through responsible journalism.
Throughout his distinguished career, he worked with notable media organisations, including National Trail Newspaper, Daily Trust, Summit and The Road. He earned widespread admiration for fearless reporting, ethical conduct and unwavering commitment to professionalism.
His writings and public interventions consistently reflected deep concern for justice, peace, accountability and national unity.
Beyond journalism, Suleiman was widely respected as a bridge-builder who strongly believed in dialogue, mutual understanding and peaceful coexistence among Nigeria’s diverse peoples. He remained steadfast in his conviction that truth and justice are essential pillars for national progress.
Though his voice has now gone silent, the values and ideals he stood for will continue to inspire generations. His legacy as a principled journalist, advocate and patriot will endure in the hearts of many whose lives he touched through his work and humanity.
The management and staff of National Trail Newspaper prayed Almighty Allah to forgive his shortcomings, grant him Aljannatul Firdaus and comfort his family, friends, colleagues and members of the in this moment of grief.
Rest in peace, Abdulazeez Suleiman. Your service and legacy will not be forgotten.
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