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‘Housing Deficit’ll Hit 22m Units In 2016’

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11 years ago

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An estate surveyor
and valuer in Port Harcourt, Mr. Reginald Olayemi, has predicted that housing deficit which has continued to rise in Nigeria will hit above 22 million units by the year 2016, if government does not take proper measures to tackle it.
Olayemi, who was reacting to the comments by President Goodluck Jonathan, that the country needed a minimum of N56 trillion to be able to bridge a deficit of 17 million housing units told The Tide,  in Port Harcourt Monday that it will take the determination and political will of government to reverse the trend.
He said that this development is an indication that the housing policies of government, even at the federal level are not working as expected.
Giving statistics of housing sector deficits so far the real estate expert, who is a member of the Nigerian Institute of Estate Surveyors and Valuers (NIESV), explained that the deficit rose from seven million housing units in 1991 to between 12 and 15 million units in 2008.
According to him, the deficit tended to peak in 2012 with the figures set between 17 and 18 million units, but remarked that something urgent must be done to bridge the housing deficit.
He said, “The housing deficit would continue to rise until the financial authorities are able to bring down interest rates to a single-digit level, so as to enable low income earners to access mortgage loans.”
According to him, only a few primary mortgage institutions in the country give mortgage loans that are repayable beyond a 10-year period, and blamed the poor housing delivery in Nigeria on the short mortgage tenure system.
The housing professional also described the current 17 per cent interest rate on mortgage loans as very high, as against three to five per cent charged in developed countries of the world.
“The financial institutions in the country offer loans and not mortgages. This is because mortgage tenure, as practised in many countries, is beyond a minimum of 20 years,” he said.
He stated that mortgage is given out at low interest rate in other countries, but that in Nigeria, those who need mortgage cannot access it due to high mortgage interest rates as such has discouraged aspiring house owners.
Olayemi, however, suggested that mortgage loans should be given out by mortgage institutions at single digit interest rates, as well as give loans that are repayable beyond 10 years.

 

Corlins Walter

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Kenyan Runners Dominate Berlin Marathons

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3 days ago

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September 22, 2025

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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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NIS Ends Decentralised Passport Production After 62 Years

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3 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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3 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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