Business
Kaduna Announces New Austerity Measures
The Kaduna State Government has adopted stringent measures to enable it manage the unexpected economic consequences unleashed by the coronavirus pandemic.
This was contained in a statement issued by the Special Adviser on Media and Communication to the state governor, Mr Muyiwa Adekeye in Kaduna, recently.
Adekeye said that the measures were adopted in anticipation of the steep decline in revenues.
He said that the belt-tightening measures were adopted following a robust debate on the interim report of the Economic Crisis Committee at a meeting chaired by the state Governor, Nasir El-Rufai.
According to the statement, the Governor had received an interim report from the economic crisis response committee established on March 9, 2020 by the Kaduna State Executive Council.
The Committee consisted of selected members of the Executive Council, with Economic Development Council chairman Jimi Lawal, assisted by Infrastructure Development Council chair Muhammad Sani Abdullahi.
“The interim report was discussed at a meeting chaired by the Governor and attended by the Deputy Governor Dr Hadiza Balarabe, and senior appointees of the state government.
“The scenarios reviewed indicated that Kaduna State’s gross annual revenues could fall by as much as N17bn if crude oil prices remain around $30 per barrel.
“The state’s annual revenues could fall by as much as N24bn in 2020 if crude prices fall to $20 per barrel.”
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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).
