Business
Corruption In Housing, Pension Funds Worries Expert
An expert in the property and housing sector, Mr. Benjamin Oti, has expressed worries over the level of corruption that has been noticed in the administration of the Housing and National Pension Funds.
Expressing his views in respect to the administration of pension and housing funds in Nigeria in an interaction with The Tide in Port Harcourt, Mr. Oti who is a specialist in environmental management, and also member of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) said that many retirees who were supposed to be beneficiaries of the pension funds proceeds had been disappointed over the years, as such funds are not properly invested for the benefit of contributors.
He said that at least 25 per cent of the pension funds would be reinvested in the housing delivery, that in no distant time that housing will not only be available, but will be affordable, particularly for that who contributed to it.
Oti decried a situation where multiple hundreds of billions of naira of pension funds was dumped at the stock market, which ought to have been used in provision of affordable housing, and urged federal government to redirect the use of the funds to favour housing stock in the scheme of things.
On the impact of National Housing Funds to Port Harcourt residents, the expert posited that meaningful impact is yet to be made in Rivers State, as compared to Lagos and Abuja, adding that funds is very vital in housing provision anywhere.
Corlins Walter
Business
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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.”
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