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Tag Archives: PPP

FERMA reconstructs 19 roads in 11 States

FERMA

The Federal Roads Maintenance Agency (FERMA) is to repair 19 road projects under Executive Order 7 in the six geopolitical zones of the country to be undertaken by six leading manufacturing and construction firms. The Managing Director of FERMA, Mr. Nuruddeen Rafindadi, who disclosed this during a visit by the Japan International Cooperation Agency (JICA) said that the projects would ...

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FG plans to explore public-private partnership in road construction

FG

The Federal Government (FG) has said it is considering Public-Private Partnership (PPP) option in the funding of roads construction across the country. The minister of State for Power, Works, and Housing, Mustapha Shehuri, disclosed this on Thursday during the inspection of the dualization of Benin-Auchi-Okene end of the Lokoja-Abuja road. “Government is looking for other sources of funding for road ...

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N5.5trn was Spent on Infrastructure in Four Years – Infrastructure bank MD

Infrastructure Bank

The Managing Director/Chief Executive of The Infrastructure Bank, Mr. Adekunle Oyinloye, has put the amount spent on infrastructure in the country between 2014 and 2017 at N5.5 trillion ($11.5 billion). Oyinloye, made the disclosure in Lagos at the annual dinner of the Association of Professional Women Bankers (APWB), with the theme: “Funding Infrastructure Development in an Emerging Economy,” that took ...

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FG implores states, private sector to partner to boost infrastructure

infrastructure

The Federal Government has called on the 36 State Governments to use Public Private Partnership (PPP) model to improve public service delivery and infrastructure in their respective states. The acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwah, made this call in Abuja on Thursday at the launch of the 2018 Nigeria PPP Network (NPPPN). The theme was “Accelerated ...

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FG to establish $8.5m truck transit park in Enugu state

truck transit park

The Federal Government, through the Nigerian Shippers Council (NSC), has disclosed plans to establish Truck Transit Park (TTP) in Ogbulafor Enugu State, at an estimated cost of $8.5million. The Executive Secretary, NSC, Hassan Bello, while receiving the Outline Business Case (OBC) at the Infrastructure Concessioning Regulatory Commission (ICRC), in Abuja, disclosed that the Public-Private Partnership (PPP) project would create over ...

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CBN expresses concern over Land Use Act

Land Use Act

Even as the Central Bank of Nigeria (CBN) has taken some steps towards boosting housing provision, Nigerians are gaining momentum. The 1978 Land Use Act, however, remains a major impediment towards achieving the target. In mid-2017, the CBN launched its Nigerian Housing Finance Programme (NHFP), popularly known as “My Own Home. The scheme, a Public-Private Partnership (PPP) arrangement, is targeted ...

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FCTA set to tackle 1.7m housing deficit with PPP

housing deficit

The Federal Capital Territory Administration (FCTA) is set to address 1.7 million housing deficit in Abuja through Public-Private Partnership program initiated to benefit many low-income earners. FCT Minister Malam Muhammad Musa Bello made this declaration at the 12th Abuja international Housing Show in Abuja. The minister said that the government had formulated a National Housing Policy since 1991 to ease ...

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Homes-to-Hotel conversions stir controversy in housing market

housing market

Housing market- A decade’s worth of new hotel supply in Lagos is cause for concern for operators and authorities. Reports show that investors in hospitality development are now converting homes to hotels in many viable locations in the metropolis. They are targeting the huge population of their market. This growing investment has resulted to many residential buildings giving way for ...

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Africa needs $170b annually to meet infrastructure requirement – AfDB

Africa

The African Development Bank (AfDB) says Africa needs about one hundred and seventy billion dollars annually to meet its infrastructure requirement. Prof. Vincent Nmehielle, Secretary General of the bank disclosed this at a media briefing to announce the bank’s annual meeting, on Thursday in Abidjan. “In 2016, the bank approved 7.8 billion dollars to finance investment in African continent and ...

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Stakeholders urge FG to focus on Urban regeneration to facilitate affordable housing

Urban

Stakeholders in the real estate sector have called on federal and state governments to focus on urban regeneration and provision of infrastructure at project sites to facilitate affordable housing. This was revealed on the sideline of a workshop organised by Real Estate Development Association of Nigeria in Abuja. The director, University of Lagos Centre for Housing Studies, Prof Olugbenga Timothy ...

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