Business
FG Stops OBC, FBC Certification Fees Payment
 
																								
												
												
											The Federal Government has terminated payment of Outline Business Case (OBC) and Full Business Case (FBC) Compliance Certification fees with effect from October 19.
The Acting Director, Infrastructure Concession Regulatory Commission (ICRC) Mr Chidi Izuwah, announced this in a statement in Abuja on Thursday.
Izuwah, the Acting Secretary to the Government of the Federation, directed that all Public Private Partnership (PPP) stakeholders in Ministries, Departments and Agencies (MDAs) of the government should immediately discontinue payment of the fees.
According to him, removal of the OBC and FBC fees will ease doing business on PPP procurement by MDAs in line with the change agenda of President Muhammadu Buhari.
“It is hoped that this will provide the needed impetus to MDAs and other key stakeholders in the development and deployment of an avalanche of PPP projects,’’ he said.
Izuwah explained that the decision by the government was in accordance with the high cost of PPP project preparation in the country.
He said, “this follows a feedback from stakeholders and potential investors with respect to the cost and procedure of Public Private Partnership (PPP) project preparation.
“It is in a bid to give additional push to the Ease of Doing Business in Nigeria, policy of the current administration that the ICRC initiated steps aimed at mitigating the bottlenecks that impede the successful conclusion of PPP projects’’.
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														Business
FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
 
														“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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