Business
Nigeria To Build 720,000 Housing Units Annually- FMBN
The Federal Mortgage Bank of Nigeria (FMBN) says Nigeria needs at least N56 trillion to build a minimum of 720,000 housing units annually in the next 20 years to meet its housing needs.
Mr Gimba Ya’u Kumo, the Managing Director of the bank, made the fact known in Abuja recently at the inauguration of “King’s Court Estate, Annex IV”.
He said the housing delivery target was required to address the current national housing deficit of about 16 million units.
“With a population of over 140 million growing at 2.8 per cent per annum, coupled with an annual urban-rural migration rate of 5 per cent, Nigeria needs to produce a minimum of 720,000 housing units per annum.
‘“ This housing delivery target is required to address the current national housing deficit of about 16 million units with at least N56 trillion,” he said.
The managing director said the bank had been repositioned to meet the challenges of creating a housing revolution in the country.
He commended the estate developer, Sparklight Property Development Coy Ltd, for complementing the role of the bank towards the provision of housing for all Nigerians.
Also speaking on the occasion, Alhaji Adedamola Attah, the Chairman of the Bank, noted that the problem of land registration and title perfection had remained a major challenge to the successful delivery of mass housing.
“Let all stakeholders play their roles, the NASS, the government and the private sector to enable the country to address its housing deficit,” Attah said.
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Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
