Business
FCTA Warns Developers Against Land Encroachment
The Federal Capital Territory Administration (FCTA) has warned land speculators in Kafe District of the FCTA against encroaching on other peoples’ lands.
Mr Hope Thompson, a Town Planner with the Development Control Department in the Abuja Metropolitan Management Council (AMMC), gave the warning in an interview with newsmen in Abuja last Tuesday.
He said that private developers at Kafe District, a virgin land located around Gwarimpa Estate in the FCT, had formed the “habit of not developing their property within the boundary allotted to them.
“They encroach on other peoples’ lands, public utility and flood-prone areas,” he said, warning that the FCTA would no longer condone the act.
“We have commenced daily monitoring and enforcement to ensure that developers follow the normal procedure to avert distortion of the Abuja Master Plan.”
Thompson said the FCTA had also started removing illegal fences erected on green lands and other people’s plots.
He said the FCTA demolished some illegal buildings and drinking joint on the road corridor at Mbora District as well as shanties and private offices made of containers that were erected on a planned bus terminal.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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