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Tag Archives: Federal Government

FG plans to raise FMBN share capital to N250bn

The Federal Government of Nigeria is working to raise the share capital of the Federal Mortgage Bank of Nigeria (FMBN) to N250 billion within the next few months in order to enable it tackle the country’s housing deficit, according to its Managing Director, Gimba Ya’u Kumo. Ya’u Kumo who spoke at a send forth/ welcome dinner organised by the bank ...

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Court rules out FG’s claim to Ondo Land

Coming from the court, the Federal Government of Nigeria has lost ownership claim to a portion of a vast landed property, lying and being at Akure/Owo/Ilesa Road, Ondo State, on which the Federal College of Agriculture, Akure is located. However, the court said the government only has ownership right to 685.9 acres instead of its claim to 965.5 acres. It ...

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FG commences construction of mass housing units for workers

Mass housing

The Federal Government on Tuesday officially commenced the construction of 100,000 mass housing units for workers across the country. According to the government, the houses will be for workers in all states of the federation, adding that it was collaborating with the Nigeria Labour Congress and the Trade Union Congress on the project. President Goodluck Jonathan said this while performing ...

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‘I can never retire to my village’ – Tunji Sotimirin

Tunji Shotimirin on Real Estate

In this interview, Otunba Tunji Sotimirin shares his views on various aspects of real estate and housing issues arising in Nigeria. He also has some very insightful messages for real estate investors, developers and practitioners in general. The youths are not left out too, just as he also has something to say about retirement. Please read and leave your comments. ...

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Quantity Surveyors demand procurement council from FG

Cost experts in the construction industry under the aegis of the Nigerian Institute of Quantity Surveyors (NIQS), Lagos Chapter, has expressed worry over the manner in which public servants go about award of contracts and said the way out to streamline high level of irregularities is for the Federal Government to heed the call to institute a Nation Council on ...

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Surveyors urges private sector’s cooperation in providing housing.

Members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) have urged the private sector to complement the efforts of the federal government in providing housing to the teeming populace. The estate surveyors made the plea during a press conference to usher in the National Housing Summit being organized by NIESV’s Faculty of Housing in Lagos on the theme: ...

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FG moves to upgrade slums in Nigeria.

Under fresh efforts to ensure sustainable development, the Federal Government has announced plans to redefine and scale up slum upgrading efforts toward confronting challenges of expanding urban areas in the country. In the renewed action plan, the government is also proposing a vibrant platform to give a voice to the growing segment of slum communities, which would also act as ...

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66,402 people apply for new FG Mortgage scheme

An indication that Nigerians are in dire need of affordable and live-able homes in any part of the country emerged last week as a total of 66,402 applicants are seeking slots in the 10,000 homes to be constructed by the Federal Government under the Mortgage Refinancing Scheme pilot project. The Federal Government launched the scheme early this year to create ...

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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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