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Tag Archives: Dr Ngozi Okonjo-Iweala

Housing crisis: aligning with World Bank recommendation

Aligning with World Bank recommendation on housing crisis

With a population of about 173 million people, Nigeria is the largest country in Africa and accounts for 47 percent of West Africa’s population. It is also the biggest oil exporter in Africa, with the largest natural gas reserves in the continent. The challenging process of implementing reforms was revitalized through a roadmap developed in 2010, which clearly outlines the ...

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Abacha loot spent on roads, electricity, others, Okonjo-Iweala tells World Bank

Abacha loot spent on roads, electricity, others, Okonjo-Iweala tells World Bank

The Socio-Economic Rights and Accountability Project (SERAP) has “received several documents from the World Bank totaling over 700 pages on information on the spending of recovered assets stolen by the late General Abacha, with some of the documents suggesting that Abacha loot was spent on roads, electricity, education, health and water.” This information was disclosed by SERAP executive director, Adetokunbo ...

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FG declares 9,667 people eligible for housing scheme

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, recently revealed that 33 Nigerians have benefited from the Federal Government’s housing programme under the mortgage refinancing scheme. The Minister also added that 9,667 people had also been cleared as eligible to benefit from the scheme. The minister said this while presenting a speech at the Caritas Nigeria Forumon Tuesday in Abuja. In ...

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Falling Oil Prices: Nigeria may double VAT

The federal government plans to double its value-added tax (VAT) and cancel government projects if oil prices continue to slide. Coordinating Minister for the Economy/Minister of Finance, Dr. Ngozi Okonjo-Iweala said this in an interview with The Wall Street Journal. According to OKonjo-Iweala, the country is reviewing some 6,000 ongoing projects to see which will be kept, delayed, or scrapped. ...

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FG woos investors with waivers on affordable housing.

Apparently worried by the high cost of housing delivery in Nigeria, the Federal Government has begun to woo key players and stakeholders in the public and private sectors of the economy with concessions and waivers that would enable them provide affordable housing to millions of homeless Nigerians. Indications to this effect emerged last week at one-day pre- summit for the ...

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FG Delivers On Its Housing Promise

Eight months ago, during the launch of the Nigeria Mortgage Refinancing Company, NMRC, the President, Dr Goodluck Ebele Jonathan promised to provide affordable housing to the millions of homeless Nigerians by the end of the second quarter of the year. This pledge was made good last week when the government launched the first 10,000 mortgages for  the presidential Initiative on ...

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Mortgage and Nigeria’s Housing Deficit

Analysts have estimated the housing deficit in Nigeria at about 16 million. In one report they  also stated that over 50 per cent of 170 million people living in the country are either homeless or without adequate housing. Nigeria’s real estate sector accounts for 7.6 per cent of the country’s recently rebased Gross Domestic Product (GDP). In an attempt to ...

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