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FMB, Estate Developers Sign $2bn Housing Deal

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The Federal Mortgage Bank of Nigeria (FMBN), SHELTER AFRIQUE and Real Estate Developers Association of Nigeria (REDAN), have signed a two billion dollar Memorandum of Understanding to provide affordable housing for Nigerians.
Signing the MoU on Thursday in Abuja, Mr Richard Esin , the Acting Managing Director of FMBN, said the MoU was the first critical journey aimed at providing affordable housing for citizens.
The managing director added that the move was in line with the Federal Government’s agenda to encourage home ownership in the sector.
He said the bank had been able to create about 734 mortgages using about N5.4 billion.
Esin said that the FMBN, SHELTER AFRIQUE and REDAN met to explore the opportunity that would come with the launch of the National Housing Model.
“In the meeting we agreed that we needed to bring in SHELTER AFRIQUE to work in partnership with the Real Estate Developers Association of Nigeria to make available some funds over the next 10 years to give impetus to the national housing model.
” By providing other members with the necessary construction finance that will be required to drive the national housing model,’’ he said.
The acting director said that the FCMB has agreed on the housing design and pricing, adding that it would be their responsibility to give confidence, by committing to providing the mortgage financing required.
He said that they have the understanding that the Nigerian market would not require anything less than $200 million annually over the next 10 years for this purpose.
“With $200 million annually into construction finance, I am sure we can generate up to eight to 10, 000 housing units annually,’’ he said.
Esin said that this scheme would create job opportunities, adding that at least 150 jobs would be generated in the activity.
The President, REDAN, Mr Ugochukwu Chime said that one of the covenant of the MoU being signed was an opportunity to get the stock market and regular format that would enable the use of naira instead of dollar
”One of the covenant of the MoU being signed was an opportunity to get the stock market and regular format that will enable us to have a naira denominated facility SHELTER AFRIQUE rather than the dollar facility’’.
He said that the MoU would promote team work, adding that it was impossible for them in REDAN to move forward without considering the skills of all those involved in housing sector.
Chime said that they have met with many artisans to see how they could contribute their quota in the delivery of affordable housing, adding that many artisans were currently undergoing training.
He called for the total recapitalisation of the FMBN, adding that over the years FMBN has being limited in their ability to deliver in their mandate because of poor capitalisation.
Also speaking, the Managing Director, Company for Habitat and Housing in Africa(SHELTER AFRIQUE), Mr James Mugerwa, said that the MoU would herald a new chapter in Nigeria’s housing sector.
He said that the MoU, also heralds provision of end- to-end solutions to the housing demand and supply challenges currently facing the country.
He said that the MoU paves the way for to SHELTER AFRIQUE to renew its support to members of REDAN on the supply side of the housing chain.
According to him, with a supply backlog estimated at over 17 million housing units, Nigeria, like other African countries requires significant investments in the housing sector.
”With more than three decades of involvement in the housing sector across Africa, SHELTER AFRIQUE is uniquely positioned to partner with REDAN and FMBN.
”In designing and providing housing and construction finance solutions to support provision of decent and affordable housing to a wider cross-section of the Nigerian population,’’ he said.
He said that it was the aspiration of SHELTER AFRIQUE that all the parties involved would commit and dedicate all their expertise and resources to ensure that good quality housing and affordability remains two key considerations in all collaboration opportunity.

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Maritime

Shippers’ Council Registers 160 Port Operators

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The Nigerian Shippers Council (NSC) says it has registered 160 Port stakeholders into its Regulated Port Service Provider and Users platform since the initiative began in 2023.
Executive Secretary, NSC, Mr Pius Akutah, made the disclosure on the sideline of a sensitisation programme by the commission for port operators in Lagos, with the theme, “Regulated Port Service Provider and Users”.
Represented by the Director, Consumer Affairs, Chief Cajetan Agu, Akutah emphasised the significance of the programme for stakeholders.
He said the sensitisation programme was the second edition after its commencement during the last quarter of 2023.
The Secretary said the 160 registered port operators consist of agencies, terminal operators, shipping companies, individual port users as well as service providers.
“We invited the ports stakeholders for enlightening them on the processes for online registration of Regulated Port Service Provider and Users.
“We have demonstrated to them how to register and how to make payment and we were able to present before them the various categories of the registration.
“The rate of payment is also in the registration. The payment of each group depends on the operation. A shipper pays N30,000, terminal operators and shipping companies pay N300,000, truckers also pay N30,000, while some pay N50,000 and N100,000.
“The Council was able to intimate them on the benefits, because port users benefit more as we help to interface on reducing port charges from time to time”,  Akutah said.
He said  that there was a need to continue to work with port operators to stop delays and eliminate high costs to make the port efficient.
Also speaking, the Deputy Director, Stakeholders, Service, NSC, Mr Celestine Akujobi, said “the sensitisation exercise was important for the council to enable us bring all the port stakeholders together”.
According to him, this is to avoid challenges during the implementation of the council’s responsibilities.
“By the time we introduce sanctions on defaulters, no operators will complain that he or she is not aware of the registration.
“I’m happy with the turnout of this sensitisation. This shows that the operators are well informed of the statutory friction of the council as the port regulator.
“The final implementation will commence as soon as we discover that all the operators have keyed into the portal.
“We are engaging other ports across the country and we’re hopeful that before the last quater of 2024, the council will implement sanctions on defaulting operators”, Akujobi said.
Earlier, Vice Chairman, National Association of Government Approved Freight Forwards (NAGAFF), Dr Ifeanyi Emoh, said  port challenges were enormous, adding that they originated from some of the government agencies.

Emoh urged the council to look into regulating other government agencies, so that there could be a window through which they can collect port charges collectively instead of indiscriminately.

By: Chinedu Wosu

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Business

Chivita, Hollandia Reward Outstanding Trade Partners At Annual Conference

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Chivita| Hollandia (CHI Limited) leading fruit juice and value-added dairy manufacturer in Nigeria has rewarded its long standing distributors at the recently held 2024 Distributor Conference. The event with the theme, “Break Boundaries Exceed Expectations” served as a platform to recognise and reward the exceptional contribution of the distributors and wholesalers who play a critical role in Chivita|Hollandia (CHI Limited) success and business goals for the year.
The Distributor Conference was held in two sessions. While the morning session featured keynote addresses, industry insights and brand immersion experience, the evening session was a cultural display of elegance and funfair that culminated in the award presentation and recognition of the contribution the trade partners made to the company in the 2023 year under review.
A key highlight of the event was the award ceremony which acknowledged outstanding trade partners in various regions across the country. The awards recognized commitment, dedication, and outstanding performance in areas of sales growth, brand promotion, and market expansion.
Eelco Weber, Managing Director, Chivita|Hollandia (CHI Limited), stated that the company’s success story is incomplete without the strong partnerships it has built with trade partners. “Today, we celebrate not only the achievements, but the collaborative spirit that has made our growth possible” he said.
Bola Arotiowa, Chief Commercial Officer, Chivita|Hollandia (CHI Limited), in his statement revealed that, the event which was first of its kind will continue to be an annual meeting to enable the company work more closely with its distributors, share insights and action points, help the trade partners familiarize themselves with the company’s goals and objectives for each year, and serve as a driver for mutual success.
“Our distributors are the backbone of Chivita|Hollandia (CHI Limited). Their relentless efforts in distributing our products, promoting our brands, and expanding our reach across the nation is truly commendable. As the bridge between us and our valued consumers, it is very important to reward their hard work and dedication for being an essential part of the Chivita|Hollandia (CHI Limited) family. Together, we will continue to deliver great products to our conusmers which in turn will deliver value to them”, Mr. Arotiowa added.
Speaking at the conference, HajiyaBilikisuSaida, Chief Executive Officer of Smabirm Nigeria Limited, who won the Outstanding Distributor of the Year in North 1 region, and got a reward of two million Naira worth of Chivita|Hollandia (CHI Limited) products expressed delight at the company’s recognition, and stated that the awards served as a way to inspire distributors to do more and put in more effort, which in turn would help both the distributors and the company to grow.
Other outstanding performance distributors of the year rewarded with a two million Naira worth of Chivita|Hollandia (CHI Limited) stock include, Sunny Chuks Limited for East 1 region, MRS FA & Sons Limited for East 2 region, Hussakas Ventures for North 2 region, Rookee 1388 Ventures for Lagos 1 region, Pik N Pil Ventures for Lagos 2 region, FaithJoe Event Management Limited for West 1 region, and Progress Family Nigeria Enterprise for West 2 region.
The annual Distributors Conference aims to strengthen the bond between Chivita|Hollandia (CHI Limited) and its trade partners. This collaborative approach fosters mutual growth and ensures the continued success of the brands in the Nigerian market.
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Business

AXA Mansard Backs Female-Owned MSMEs With N1.4m Grant

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A global leader in insurance and asset management, AXA Mansard, has supported three female-owned MSMEs with business grants totaling 1.4 million to boost their operations.
This, the company said, is part of its commitment to women and the Medium, Small, and Medium-scale Enterprise (MSME) sector in the country.
The three businesses were successful at the International Women’s Day Pitch Competition, organised in partnership with SME 100 Africa in Lagos.
According to the Head of Marketing, AXA Mansard, Olusesan Ogunyooye, the competition, which is aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria”.
The business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition.
Ogunyooye said “the programme provided a unique opportunity for women from various works and socio-economic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community”.
He stressed the importance of investing in women, saying it is not just the right thing to do, but also aligns with AXA’s purpose of acting for human progress.
He explained that AXA believes the future of women should not be at risk, hence investing in their economic empowerment is a crucial part

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