Author: Oladi Samuel

The Lagos State Real Estate Regulatory Authority (LASRERA) has asked for the support of all practicing realtors to complement the state government’s efforts to improve the integrity of real estate development for the future of Lagos State, Nigeria, and potential investors/investees. This appeal was made recently by the Special Adviser to Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka, at an event organized by the Association of Estate Agents in Nigeria, International Association of Realtor, held at Eko Hotel and Suites, Victoria Island Lagos. Benson-Awoyinka, who was represented at the event by LASRERA’s Project Manager, Mrs. Bolanle Asuquo stated that…

Following Moody’s downgrade of Nigeria’s sovereign bond during the weekend, the country’s long-term debt instrument was dumped at its fastest pace in three months on Monday.  According to Bloomberg, the extra yield investors demand to hold Nigeria’s dollar debt instead of treasuries widened 49 basis points to 780. The rate on Nigeria’s 2032 bonds jumped 56 basis points to 12%, also the most since October. Forward contracts on the currency traded 28% weaker than the official rate on the one-year tenor.  Threat to Nigeria’s credit: The latest moves threaten to send Nigeria’s credit spreads down to distressed territory, widely described…