Business
FG To Spend N771m On 80 Houses In Plateau
The Federal Government is sinking N771 million into building 80 houses in Plateau State under the Federal Housing Programme (FHP), according to Mr Julius Olurinola, FHP Zonal Coordinator (North-Central).
Olurinola, who inspected work on the housing project located at Laminga village in Jos yesterday, newsmen that he was “very impressed” with the quality of work at the site.
He commended the Plateau government for donating the 5.04 hectares of land for the project, and particularly lauded its collaboration with the federal government to execute the project.
Olurinola urged the handlers of the project to keep up the good work, and also encouraged them to strive to meet the deadline for the completion of every unit.
He said that the housing scheme was a collective dream that must be supported to minimise the shortage of houses in Plateau.
The official said that infrastructural facilities were already being provided to the estate, saying that special attention was being paid to road construction which had been the major challenge for the handlers.
A representative of the contractors, Mohammed Jalige, commended the Lamingo community for being hospitable, and attributed the speed of the job and its good quality to the peaceful working environment in the area.
Jalige said that the handlers had employed more than 1,500 youths and trained many of them on various skills.
A food vendor, Mrs. Rebecca Yamg, who spoke with our source , said that she makes N7,000 daily, from the site.
“Business has been good since the building project took off. There are many workers which has enhanced patronage,” she said.
Enoch Epelle
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
