Property development company Novarick Homes has partnered with Insuretech firm Kolanut Africa in an effort to bolster buyer protection within Nigeria’s real estate market, the companies announced February 12, 2026.
The collaboration addresses growing concerns stemming from recent incidents of building collapses, fire outbreaks, flooding, and government demolitions affecting residential developments in Lagos and Abuja, according to a statement released by Radarr Africa.
Novarick Homes CEO Noah Ibrahim stated the partnership is a response to declining buyer confidence. “Buyer confidence has taken a hit, and it is understandable,” Ibrahim said. “When people see reports of collapsed buildings, fire incidents, flooded estates, or properties marked for demolition, it creates fear, even for genuinely well-planned developments. As developers, we have a duty to acknowledge these concerns and respond with structures that prioritise the safety and long-term interests of our clients.”
The partnership aims to provide an additional layer of protection for buyers, addressing anxieties surrounding unforeseen events. Kolanut Africa’s role in the scheme was not detailed in the initial announcement.
News of the partnership follows a previous announcement by Novarick Homes in September 2025, outlining plans to develop 1,600 apartments across Nigeria. The company too congratulated Thesarus Gardens on its 10th anniversary in August 2025 and June 2025, and expanded operations to Ibadan in March 2025, according to Radarr Africa.
The collaboration was also highlighted on social media by Novarick Homes on February 13, 2026, according to a post on Instagram.
Vanguard News reported February 14, 2026, that the partnership intends to rebuild confidence in the real estate sector.
Tribune Online reported February 3, 2026, that Novarick Homes announced the strategic partnership with Kolanut Africa.