Business
NIA Wants Govt To Fund New Mortgage Scheme

Level of work done at the new secretariet of Rivers State Council of the Nigeria Union of Journalists in Port Harcourt. Photo: Chris Monyanaga
The Nigerian Institute of Architects has urged the Lagos State Government to adequately fund its new mortgage scheme.
This is contained in a communiqué issued yesterday at the end of the Lagos Architects Forum 5.0, signed by Mr. Ladipo Lewis, Chairman, NIA, Lagos chapter, and its Secretary, Mr. Bayo Ogunmefun.
The forum with the theme “Architecture and Real Estate Development,” noted that funding the new mortgage scheme would enable the government take care of the housing deficit in the State.
“There is a massive housing shortage in Lagos State for the low and medium income classes.
“This situation is caused by lack of an effective mortgage system, inadequate provision of finance and difficult access to land.
“We believe that funding the new scheme will help the low and medium income earners in both the formal and the informal sectors of the economy,” the communiqué said.
It also urged the State Government to make procurement of Certificates of Occupancy and governor’s consents easy.
The communiqué said that the State Government should either adopt the National Building Code or evolve its own State Code, to stem building failure and collapse.
It suggested that the state should put in place policies that would encourage continuous development of quality Hotels of various standards.
The communiqué said that this was necessary because of the mega-city status of Lagos and its economic importance in the country and the West African Sub-Region.
It, however, stated that there should be deliberate state government interventions to ensure hotels charge globally acceptable lodging rates, to encourage continuous attraction of tourists and investors.
The communiqué also said that the government should intensify efforts in the development of more infrastructures in both urban and the hinterlands, in line with what obtains in developed cities worldwide.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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