Business
Encourage Commercial Banks To Give Mortgage Loans – Experts
Some property experts on Tuesday advised the Central Bank of Nigeria (CBN) to encourage commercial banks to provide mortgage loans to drive growth of the real estate industry.
They made the plea in separate interviews with newsmen in Lagos.
Mr Titilope Bamgbala, a property developer, said that involvement of commercial banks in the mortgage finance market would address the problem of housing deficit in the country.
“Commercial banks in Nigeria are not providing mortgage financing, instead they offer short and medium-terms loans and which also come with stringent conditions.
“The provision of houses, through the creation of mortgages, would address the challenges facing developing countries like Nigeria.
“Government should revamp the mortgage finance market, being the foundation of real estate industry anywhere in the world,” he said.
Mr Tunde Makanjuola, Managing Partner in Katalyst Management, said that sound economic policies and amendment of existing land laws would move the industry forward.
“The potential of real industry is too enormous to be neglected.
“The industry can single handedly turn the fortunes of the country around and make life better for all,” he said.
Mr Shafiudeen Ibrahim, a building consultant, said that foreign investors were already aware of these opportunities and would invest if the environment was made conducive for them.
“With housing deficit in excess of 15 million units with an estimated mortgage financing gap of over N30 trillion, Nigeria could be an investor haven,” he said.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
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
