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FMBN to allocate N100 billion for Renewed Hope Cities and Estates Scheme across the country
To enhance affordable homeownership for Nigerian citizens, the Federal Mortgage Bank of Nigeria (FMBN) has announced a significant commitment to support the 100,000-unit "Renewed Hope Cities and Estates Programme." The bank will provide a N100 billion off-taker guarantee to a consortium of developers working on the project.
FMBN’s Managing Director/Chief Executive, Shehu Usman Osidi, disclosed this at the Nigeria Police Housing Summit held in Abuja. He represented the Minister of Housing and Urban Development, Ahmed Dangiwa, as guest of honor at the event.
Osidi highlighted that the N100 billion guarantee will be extended to the development consortium, enabling them to proceed with construction. Additionally, FMBN will provide mortgage financing to those purchasing units upon completion. These homes will be distributed nationwide, potentially benefiting numerous police force members.
The chief executive relayed government’s frustration at the long term relegation of the issue of police housing, which has resulted in dire consequences for both the officers and the communities they serve.
He commended the Inspector General of Police, Kayode Egbetokun, for convening the summit “with the right set of critical stakeholders, central to resolving the challenge of providing shelter to the rank and file of the Nigeria Police.”
Commenting on the theme of the Summit: “Renewed Hope for Police Housing in Nigeria,” he noted that the theme “speaks to the acknowledgement of past challenges, the commitment to overcoming them, and the optimism for a brighter future.”
“Our police officers are the frontline defenders of law and order, often working tirelessly under challenging conditions.
“The inadequate housing facilities only aggravate their challenges, impacting their morale, well-being, and ultimately, their effectiveness in ensuring the safety and security of the nation,” he said.
He reiterated the resolve of the President Bola Tinubu-led administration’s Renewed Hope Agenda, to ensuring access to decent and affordable housing to Nigerians, noting that achieving this requires a multifaceted approach, one of which is to leverage on partnerships.
“Collaboration is essential in harnessing resources, expertise, and innovative solutions to accelerate the pace of development. Through strategic alliances and creative financing mechanisms, we can overcome the constraints that have hampered progress and deliver tangible results within a reasonable timeframe,” he noted.
In this regard, he communicated the minister’s desire to the Nigeria Police Force (NPF) to engage strategically with the FMBN towards realising its renewed vision of providing decent, affordable and safe housing for officers and men of the Force.
Outlining some of the fruits of previous engagements between the bank and the NPF, having enjoyed a productive relationship since the inception of the National Housing Fund (NHF), he noted that over N2.9 billion mortgage loans had been disbursed to 807 police beneficiaries.
Additionally, N2.1 billion, he said, was disbursed to Police Cooperative Housing Development Company to construct 806 housing units, about N158 million disbursed to 22 beneficiaries under the rent-to-own platform and over N289 million as home renovation loan to 316 officers.
Other initiatives, he said, include the funding of ongoing housing projects for the Police Cooperative in various locations of Abia, Adamawa, Ogun, Kaduna and the FCT.
He also listed the refund of a cumulative sum of over N1.8 billion to 18,619 retired police officers as well as N3 billion loan to the Nigeria Police Multi-Purpose Cooperative Society/Nigeria Police Force Property Development and Construction Company Ltd. for the construction of 236 housing units at Goza, Wawa District, Abuja.
He, therefore, expressed the minister’s appreciation of the bank’s scorecard in addressing the needs of the Nigeria Police on the basis of their contributions to the NHF Scheme, noting that the bank is a ready partner to engage in the Force’s aspiration to deliver affordable housing to their officers and men.
Earlier in his address, Egbetokun, alluding to the essentiality of the summit, disclosed that the housing capacity of the Force was about 10-12 per cent of the over 400,000 workforce.
“Due to long years of neglect, the existing and available barracks accommodations are largely unsuitable and incompatible with the 21st century policing architecture that we desire to build,” he stated.
He remarked that the summit was established as a platform for discussing and expanding ideas to achieve their vision of accessible and affordable housing for Nigeria Police officers. The summit will be held annually going forward.
News
Lagos schedules meeting with owners of distressed buildings.
The Lagos State Government has said it would soon arrange a meeting with developers/owners of distressed buildings on how best to address the redesign and remodelling of such structures by November.
This was disclosed recently by the Commissioner for Physical Planning and Urban Development, Oluyinka Olumide, at a function in Alahusa, Lagos.
Olumide said the prevalence of distressed buildings in different parts of the state was worrisome and needed the urgent attention of all stakeholders.
He said, “The Ministry of Physical Planning and Urban Development as mandated by the Lagos State Urban and Regional Planning and Development Law, 2019, as amended, was willing to extend its responsibility for approving the remodelling of existing buildings to provide technical assistance to developers and owners of distressed buildings, especially on the design and remodelling of such buildings.
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FG threatens contractors over Enugu-Onitsha road delay
The Federal Government has instructed the contractors responsible for the 107km Enugu-Onitsha road dualization to expedite the project.
This directive was given by the Minister of Works, Senator David Umahi, during a meeting with MTN, the Enugu State Government, and the contractors, RCC Ltd and Nigercat Ltd, on Friday.
According to a statement released on Friday, the minister said he is disappointed over the slow pace of work on the project, he said, “Let me express my disappointment over the slow pace of work on that project. It is one of the worst roads in this country.
“Everywhere we have diversion; diverting from the one that RCC and Nigercat had completed, the contractors are not kind enough to even put stone based on the diversion points.”
He added, “So, by the reason of the launching of our Operation Free our Roads, it is now a violation of the policy on the side of the controllers and directors of the Federal Ministry of Works where we have vehicles falling on any project that is ongoing or where there are potholes on our roads.”
He also blamed the sufferings of road users on the lack of commitment and insensitivity of the contractors.
“The public must know that the President’s intention is not for them to suffer while trying to fix the roads, and it is their right to insist that contractors should fix the roads that they are engaged on,” he said.
The Minister commended the Enugu state government for their resolve to fund the construction of a 20 KM section of the road and expressed hope that MTN would execute the second phase of the project.
He noted, “Why the Enugu State government is intervening is because of the slow pace of work by the contractors and because of funding issues. The essence of tax credit is for funds to be made available. And so, I don’t see RCC going to keep their promise to finish this project in 6 months.
“My advice to MTN is to look for another contractor within that axis if they want to get the job done. Division of labour is even the best. While they are doing the road, and if Nigercat is doing a good job, you can give them greater scope to do if you want to finish that job.”
He warned contractors that the Federal Government would not accept phased handovers of projects and has phased out Variation of Price in contract administration.
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Ekiti state government mediates land dispute between traditional ruler and family in Epe-Ekiti
The Ekiti State government has intervened to resolve a longstanding land dispute between the Elepe of Epe-Ekiti, Oba Ayodele Adesoye, and the Atolagbe family. The government cautioned against the misuse of modernization as an excuse to disregard traditional customs.
In line with the community’s traditions, the government has ordered the release of resources, including palm trees at Oko Oba Farmland, to Oba Adesoye for his administration. This decision ensures the continued adherence to age-old practices.
Ekiti State Deputy Governor, Chief (Mrs) Monisade Afuye, announced the resolution in Ado-Ekiti. The decision was made after considering the Elepe’s claim to Oko Oba Farmland based on historical evidence.
Mrs. Afuye acknowledged the Elepe’s right to be the custodian of Oko Oba Farmland, citing longstanding traditions that support his claim. The decision reflects the importance of respecting historical practices and ensuring their preservation.
The deputy governor, however, told the monarch in clear terms that other princes and princesses from all the three ruling houses should be allowed to farm on the land without payment of royalty.
Mrs Afuye appealed to the community to comply with the government’s position to restore unity, peace and orderliness to the beleaguered community.
Oba Adesoye expressed gratitude for the government’s decision and pledged to foster peace and unity between the throne and the community, aiming to accelerate Epe’s development.
Representing the Atolagbe family, Dr. Yemi Agbeleoba acknowledged their willingness to cede Oko Oba Farmland to the monarch. However, he emphasized the need for all three ruling houses to participate for a lasting and traditional solution.
Agbeleoba expressed appreciation for the government’s directive, believing it will contribute to resolving the long-standing conflict.
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