Tag Archives: FG

The Nigeria Mortgage Refinance Company (NMRC) plans to seek approval from members by the end of the month to triple the size of its debt programme to N440 billion ($1.44 billion), the state-backed mortgage agency said on Monday. Nigeria set up a mortgage-backed guarantee company in 2014, partly with World Bank aid, in an effort to boost lending through the ...

The plan by the Federal government to deliver 100,000 units of affordable homes to Nigerians, under a social housing scheme annually, has been attracting the attention of those in the housing sector, asking for more clarification on the issue, especially, the modality at which the project will be delivered. The Minister of State for Power Works and Housing II, Hassan ...

Eleven years after it was created, the Federal Government and states have cornered over N5 trillion from workers’ pension contributions under the Contributory Pension Scheme for infrastructure development and other financial commitment. The amount received through investment in their various capital market instruments represents over 70 per cent of the N8 trillion pension assets currently being managed by Penson Fund ...

The Federal Government has handed over N461 million culvert and drainage construction for erosion and flood control works to communities in Kofar Fada, Shettima and Kasuwan Yelwa areas of Taraba State. The project was executed by the Ecological Fund Office (EFO), which is domiciled in the Office of the Secretary to the Government of the Federation (OSGF). Speaking during the ...

The Federal Executive Council on Wednesday approved N6.5 billion for the construction of phase II and the completion of the Industrial Training Fund (ITF) multi-purpose conference centre in Abuja. The Minister of Industry, Trade and Investment, Okechukwu Enelamah, stated this while addressing State House correspondents after the cabinet meeting. He said: “The importance of this is that the ITF is ...

The Asset Management Corporation of Nigeria, (AMCON) has lost its bid to take over the land and property known as the Federal Secretariat Complex, in Ikoyi Lagos. Justice Ibrahim Buba in a judgment delivered at the Federal High Court Sitting in Lagos on Wednesday reiterated that the Federal Government of Nigeria and it’s agencies are bound to recognize an arbitral ...

The Federal Government has disclosed that a total of 1, 350 houses have been completed at various locations in Abuja and Lagos and their letters of allocation will be ready for distribution. The beneficiaries (civil servants) are under the Federal Integrated Staff Housing (FISH) programme. FISH programme, which is the initiative of the Head of the Civil Service of the ...

As rainy season approaches, Lagos residents are becoming apprehensive of what the condition of roads will be considering many infrastructures are already suffering dilapidation of various degrees. However, the fears are being allayed, as the agency saddled with the responsibility of road maintenance as assured of its readiness to ensure free vehicular movements during the rainy period and beyond. Speaking ...

Nigeria’s minister of works, power and housing, Babatunde Fashola, has assured investors, residents and visitors of one of the largest industrial hubs in the country, including Sango, Ota, Igbesa, Agbara, of Federal Government’s plans to revamp aging road infrastructure within the axis. The Federal Government’s assurance on infrastructure upgrade within all existing industrial hubs in the country was made at ...

The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to transfer its abandoned property in Lagos to the state government or lease them to the private sector. The President of LCCI, Mr. Babatunde Ruwase, made the plea in an interview in Lagos on Monday. Ruwase noted that several properties belonging to the Federal Government in the ...