Business
RTEAN To Build 185,000 Houses
The leadership of
Road Transport Employers Association of Nigeria (RTEAN), has announced its joint partnership with two private investors to build 185,000 units of houses across the country.
In a joint statement formally announcing the deal signed by Rig Vincent, President of the Havit Inc. and Tony Adepoju on behalf of JS Neoplans and Artemis Angels Global Limited made available to The Tide, said the units of houses are to be completed within one year.
RTEAN said funding of the project had already been worked out, adding that the project would be undertaken through direct Labour within the stipulated one year period.
The Landmark project, which is estimated at $1.5 billion is to be executed in collaboration with two foreign investors.
RTEAN statement said the project would create jobs for over 1,000 Nigerians contractors and 5,000 artisans nationwide.
The Association further said the joint project will also enable RTEAN to secure 4,000 Nigerians assembled vehicles for members of the association in a bold move to empower its members and stem the trend of unemployment among its members.
However, RTEAN’s effort would complement the organised labour movement effort to build 1000 houses in all the states, with the initial take-off in 14 states and the Federal Capital territory.
She said following the introduction of NMRC, the World bank together with Federal and State governments as well as other partners have been working on improving the enabling environment for private developers to operate.
She emphasised that state governments are being encourage to reduce the cost of housing delivery, which include making land available, timely provision of property title, providing infrastructure and reduction of transaction costs.
Philip Okparaji
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.