NDDC Partners Chevron On Construction Of Warri-Escravos Road

      Mohammed Shosanya

The Niger Delta Development Commission, NDDC,has emphasised the import of its partnership with Chevron Nigeria Limited on the construction of the 70.75km Omadino-Okerenkoko-Escravos Road and bridges in the Warri North Local Government Area of Delta State.

Its Managing Director, Dr Samuel Ogbuku, spoke on the project when he led a delegation of the Commission’s Executive Management and Directors to meet with the Chevron Management led by the Director, NNPCL/Chevron Joint Venture, Dr Segun Kuteyi,at the Chevron headquarters in Lagos.

Ogbuku,according to s statement signed by the spokesperson of the agency,Seledi Thompson-Wakama, restated the commitment of the NDDC to the completion of the Omadino-Escravos Road, which he said would link Warri to Escravos, the hub of oil and gas activities in Delta State.

He added that the construction of the road would boost oil production and other economic activities in the area.

He identified Escravos as an area of special economic priority, stating that NDDC was taking steps to make it more accessible by rallying the support of stakeholders for a broad partnership that would expedite the construction and completion of the high-impact road to the area.

The NDDC boss stated that President Bola Ahmed Tinubu’s administration emphasised stakeholders’ engagement, noting that the Commission had adopted that approach and embraced the Public Private Partnership (PPP) initiative.

Ogbuku noted that the partnership between the Shell Petroleum Development Company of Nigeria Limited and the NDDC in constructing the 25.7 km Ogbia-Nembe Road should be replicated for other projects.

He stated, “We chose the Public-Private Partnership (PPP) model as an alternative funding source for the Commission. So, we have been seeking funding partners to complete our current projects and start new ones.”

According to the Managing Director, “One of the positive fall-outs of the PPP initiative is the signing of a Memorandum of Understanding, MoU, between the NDDC and the Nigeria Liquified Natural Gas Limited, NLNG. They agreed to collaborate on diverse fronts in delivering sustainable development projects.”

Govt Alone Can’t Shelter Nigerians-Ooni

 

Mohammed Shosanya

 

 

The Ooni of Ife,Oba Adeyeye Enitan Ogunwusi,has said that the government alone could not provide adequate housing for Nigerians.

 

 

 

He disclosed this on Friday while receiving former Head of State, General Abdulsalami Abubakar(retd), Bishop Matthew Kukah, General Martin Luther Agwai(retd) at his Ojaja Park, Alagbaka, Akure, Ondo State capital.

 

 

 

 

He implored the private sector to save the sector by making use of local content in terms of materials and human resources.

 

 

 

He disclosed that he embarked on the housing project to reduce the deficit in the sector.

 

 

 

He used locally made materials in the project which he noted,reduced capital flight usually experienced when importing such materials.

 

 

 

He took his visitors round the facilities in the over one hundred thousand square meter estate,and showcased the artworks and other interior decorations done by some young folks who he said are products of Nigerian higher institutions of learning

 

 

 

Oba Ogunwusi said: “We won’t continue to cry over spilled milk. We know that we have a housing deficit in the country, but we need to make do with what we have to get results. We need to buy Nigeria, we need to produce in Nigeria, including our housing needs.

 

 

 

 

“Our project here is a city on its own. It is 100,000 square meters, and we are trying to showcase what is possible in Nigeria. Practically, everything you see here, we know where it came from in Nigeria.

 

 

 

“So, our own mantra is at least 90 percent of things that are made in Nigeria will be used, because a lot of people probably think we do things that are of inferior quality.

 

 

“Today is the official showcasing of Ojaja City to the world. And the official showcasing is to actually let everybody that matters in this country know that whenever there is a will, there is a way.

 

 

 

 

“A lot of good things can happen in our country and if we believe in ourselves, like this typical project, if we believe that Nigeria and Nigerians can do it, then our deficit of housing will continue to reduce gradually.

 

 

 

“Here is an integrated city that you don’t even need to go out. We have everything here, we have a five-star hotel here, game centre, children’s park, we have a shopping mall here, we have park, we have school, we have residential estates.

 

 

 

“So for us, it’s just to model something that has never been done in Nigeria. A lot of people are always very skeptical of our products, that homemade goods, Nigerian made products aren’t good, but we are not skeptical. We went all the way.

 

 

 

 

“We don’t need to leave government to do everything and this is the why I invited General Abdusalam Abubakar and Bishop Mathew Kukah to come and bless this place, because they believe in peace, and they believe in youth engagement, because for us here, it’s all about youth engagement and I believe Nigeria will be a better place.

 

 

 

 

 

“When you are driven by money, you can’t do such a project, it’s not possible, but for me, on the throne, I just want to see a lot of youths and their lives being turned around. And I’m happy, I’m fulfilled. I have thousands of youths that, from nothing, they are something today. So, that’s my objective.

 

 

 

“The numbers, you can’t even count, they are into billions. But, we don’t want to talk about  number here. It’s about passion. What can we do for our dear country? We always blame  government but what are we all doing individually?”

 

 

 

 

 

 

NDDC Builds Emergency Shelters To Contain Flood Threat

Mohammed Shosanya

The Niger Delta Development Commission, NDDC, is building six multi-purpose emergency shelters in Bayelsa, Delta and Rivers states for Internally Displaced Persons, IDPs, in the event of flood in the Niger Delta region,its Managing Director,Samuel Ogbuku,has said.

He spoke during a press conference at the NDDC headquarters in Port Harcourt,a statement signed Seledi Thompson-Wakama

Director,Corporate Affairs said.

He said the Commission was taking proactive steps to ameliorate the impact of the perennial flood in the region.

He observed that the project was conceived as a response to the frequent flooding challenges faced by Niger Deltans. He noted that facilities at the emergency shelter would include essential amenities such as a school, hospital, cafeteria, police post, and recreation center, which would provide comprehensive support to the communities in times of distress.

He said: “We have six of this facility currently under construction in Otuokpoti and Odi, in Bayelsa State, while the ones in Delta State are being built in Patani and Ozorro and another two in Rivers State.”

He assured that the Commission would intensify its efforts to light up communities across the nine states of the Niger Delta, with solar-powered street lights, as part of measures to fight criminality and maintain peace in the region.

Ogbuku expressed delight at the positive impact of the “Light Up the Niger Delta” campaign, which he observed had reduced criminality in the various communities and enhanced commercial activities in the areas.

He observed: “We decided to adopt the clean energy approach which not only provides light but helps in the fight to mitigate the effects of climate change on our environment.”

Speaking on the youth empowerment programmes of the Commission, he announced that the Holistic Opportunities Programme of Engagement, HOPE, would be launched at the end of this month in port Harcourt.

On the NDDC Youth Internship Scheme, Ogbuku affirmed that entrepreneurial and skills enhancement were key components for unlocking the potentials of the youths in the Niger Delta region.

He said that the objective was to get the youths to acquire meaningful and self-sustaining skills that would improve their lives, support their families and communities and thus ensure peace in the Niger Delta region.

Speaking on entrepreneurship, Ogbuku noted that the NDDC, through the Niger Delta Chambers of Commerce had streamlined engagement in giving support to farmers and verifiable entrepreneurs in the region.

He noted: “Technology is the key to the future of Niger Delta. The way technology is changing,it is only wise to change with the times and prepare for the future. We are ready to collaborate with relevant organizations to provide a training platform for our youths.

“We need to build our youths and our children as well. We have acquired 45,000 U-lesson tablets for distribution to schools for the use of our children. We will soon launch the tablets and deploy them to schools across the region.”

He listed some of the achievements of the NDDC, especially in the area of completing and inaugurating impactful projects across the nine states of the Niger Delta region.

The projects included the 25.7-kilometre Ogbia-Nembe, which was executed in partnership with Shell Petroleum Development Company, SPDC.

“We also commissioned the 132KV Transmission Line and I32KV/33KV electricity substation at Okitipupa to serve over 2,000 communities in the southern part of Ondo State. Similarly, we inaugurated another 1×15 MVA 33/11 KVA injection substation to in Amufi, Edo State,” Ogbuku said.

He said further: “In Akwa Ibom State, we commissioned the 600-meter Ibeno Bridge and the 6.87-kilometre Iko-Atabrikang-Opolom-IwuoAchang Road in Ibeno Local Government Area. The N10 billion virgin road project links 20 communities, hitherto separated by the Qua Iboe River.

“In Abia State, we commissioned the Obehie to Oke Ikpe-road reconstructed at a cost of N3.5 billion. The nine-kilometre road restores the road link between Rivers and Akwa Ibom states.

Mohammed Shosanya

The Niger Delta Development Commission, NDDC, is building six multi-purpose emergency shelters in Bayelsa, Delta and Rivers states for Internally Displaced Persons, IDPs, in the event of flood in the Niger Delta region,its Managing Director,Samuel Ogbuku,has said.

He spoke during a press conference at the NDDC headquarters in Port Harcourt,a statement signed Seledi Thompson-Wakama

Director,Corporate Affairs said.

He said the Commission was taking proactive steps to ameliorate the impact of the perennial flood in the region.

He observed that the project was conceived as a response to the frequent flooding challenges faced by Niger Deltans. He noted that facilities at the emergency shelter would include essential amenities such as a school, hospital, cafeteria, police post, and recreation center, which would provide comprehensive support to the communities in times of distress.

He said: “We have six of this facility currently under construction in Otuokpoti and Odi, in Bayelsa State, while the ones in Delta State are being built in Patani and Ozorro and another two in Rivers State.”

He assured that the Commission would intensify its efforts to light up communities across the nine states of the Niger Delta, with solar-powered street lights, as part of measures to fight criminality and maintain peace in the region.

Ogbuku expressed delight at the positive impact of the “Light Up the Niger Delta” campaign, which he observed had reduced criminality in the various communities and enhanced commercial activities in the areas.

He observed: “We decided to adopt the clean energy approach which not only provides light but helps in the fight to mitigate the effects of climate change on our environment.”

Speaking on the youth empowerment programmes of the Commission, he announced that the Holistic Opportunities Programme of Engagement, HOPE, would be launched at the end of this month in port Harcourt.

On the NDDC Youth Internship Scheme, Ogbuku affirmed that entrepreneurial and skills enhancement were key components for unlocking the potentials of the youths in the Niger Delta region.

He said that the objective was to get the youths to acquire meaningful and self-sustaining skills that would improve their lives, support their families and communities and thus ensure peace in the Niger Delta region.

Speaking on entrepreneurship, Ogbuku noted that the NDDC, through the Niger Delta Chambers of Commerce had streamlined engagement in giving support to farmers and verifiable entrepreneurs in the region.

He noted: “Technology is the key to the future of Niger Delta. The way technology is changing,it is only wise to change with the times and prepare for the future. We are ready to collaborate with relevant organizations to provide a training platform for our youths.

“We need to build our youths and our children as well. We have acquired 45,000 U-lesson tablets for distribution to schools for the use of our children. We will soon launch the tablets and deploy them to schools across the region.”

He listed some of the achievements of the NDDC, especially in the area of completing and inaugurating impactful projects across the nine states of the Niger Delta region.

The projects included the 25.7-kilometre Ogbia-Nembe, which was executed in partnership with Shell Petroleum Development Company, SPDC.

“We also commissioned the 132KV Transmission Line and I32KV/33KV electricity substation at Okitipupa to serve over 2,000 communities in the southern part of Ondo State. Similarly, we inaugurated another 1×15 MVA 33/11 KVA injection substation to in Amufi, Edo State,” Ogbuku said.

He said further: “In Akwa Ibom State, we commissioned the 600-meter Ibeno Bridge and the 6.87-kilometre Iko-Atabrikang-Opolom-IwuoAchang Road in Ibeno Local Government Area. The N10 billion virgin road project links 20 communities, hitherto separated by the Qua Iboe River.

“In Abia State, we commissioned the Obehie to Oke Ikpe-road reconstructed at a cost of N3.5 billion. The nine-kilometre road restores the road link between Rivers and Akwa Ibom states.

Oyo Commences Two Months Building Permit Grace For Property Owners

Mohammed Shosanya

The Oyo State government has commenced a 60-day Online Building Permit Amnesty (OYBPA) program, aimed at regularizing buildings that were constructed without proper government approval.

OYOBPA programme commenced officially on 26th August 2024 and ends on the 27th October 2024.

The programme will also regularize those in violation of building regulations in the state and process new approvals within this 60-days window.

The Commissioner for Lands, Housing, and Urban Development, Mr. Williams Akin-Funmilayo, stated this on Monday, in Ibadan, the State capital.

He said the scheme is in line with Governor Seyi Makinde’s transformation and sustainable development agenda, designed to enable the government to improve urban planning and enhance the security and safety of lives and properties within our dear state.

He added that the government has also approved that property owners can now get or regularize their building permits within the sixty (60) days amnesty period at a 20% discounted rate.

“This is to allow the good people of Oyo State to get their building permits faster, easier, and cheaper as the government will embark on massive enforcement of building permits after the amnesty period.

“This amnesty period lasts for sixty (60) days, and it is advised that all property owners (residential, commercial, industrial, educational, health facilities, etc.) within the state who have no building permit and have engaged in unauthorized development or are currently planning to commence development should harness this opportunity”, he added.

The OYBPA,which is majorly an online process, will enable property owners to process their permits without falling victims to touts and middlemen.

He gave the guarantee of property owners getting an authentic permit which will prevent any further interference by the authority as regards their development as long as they adhere to the provisions of the approval.

Application process for the amnesty period has started online across the 33 LG.

“At the end of this exercise, an amnesty certificate will be issued to all who took advantage of this opportunity” he affirmed.

“In the same vein, we therefore plead with members of the public and our directors of zonal planning authorities to strictly adhere to the principle of granting building permits in the state”.

He said properties illegally occupying the state hovernment acquisition zone; properties within the circular road or circular road set back;properties directly under the power line zone; properties within the disallowable proximity to dam, stream will not be granted amnesty.

He added that properties built on the road; within pipeline setback; and properties under court / financial crimes matters will not be granted amnesty.

He said this scheme, like every other Seyi Makinde initiative, promises to be great, seamless, and a worthwhile investment for the good people of Oyo State.

He said, “Let’s support the government to make Oyo State better, safer, and more viable”.

The Permanent Secretary, Mrs. Mofoluke Adebiyi said the scheme will regularise the database of properties in the state and ensure more security across all local governments in the State.

She enjoined owners of structures constructed without building plans to key into the initiative.

According to her, the process also allows property owners who are not currently within the state to take advantage of the online amnesty window to either regularize or get a fresh approval for their building and other forms of property development.

SON Seeks Stricter Regulation To Stop Building Collapse

Omobolanle Shosanya

Dr. Ifeanyi Okeke,Director General and Chief Executive of the Standards Organisation of Nigeria (SON),has advocated the need for stricter regulation and increased collaboration among stakeholders to address the nagging issue of incessant building collapse in Nigeria.

He reiterated the need for a comprehensive approach to building collapses in Nigeria to prevent repeated incidents from occurring in the future and to ensuring the safety and integrity of structures across the nation.

A statement on Wednesday issued by Mrs. Foluso Bolaji, Director, Public Relations, SON, said the Director General of SON gave the suggestion,as a result of incessant spate of building collapse across the country and the wanton destruction of lives and property on each occurrence.

Okeke stated that compliance to Specifications and Codes of Practice in the Standards by regulators and service providers in the sector plays an important role in reinstating the eroding confidence of Nigerians in the Nigerian building industry.

He said following investigations carried out by the SON, the cause of incessant building collapse was attributed to poor structural designs, quackery and unprofessionalism and inadequate or lack of soil testing.

Other causes,according to the statement, include poor construction practices and procedures, unapproved construction, wrong demolition process, lack of maintenance, negligence, use of substandard materials (steel reinforcement bars) as well as poor drainage around the collapsed buildings.

He stated that the Organization on its part has produced 168 Standards and Codes of Practice for the building and construction industry since 2004 for contractors to implement during construction.

These standards, he outlined, include Nigerian Industrial Standard (NIS) 117: 2004 Specification for Steel Bars for the Reinforcement of Concrete, Nigerian Industrial Standard (NIS) 499: 2004 Standard for Iron and Steel, Nigerian Industrial Standard (NIS) 588: 2007 Testing Hardened Concrete Part 1:Method for Determination of the Compressive Strength of Concrete Cores, Nigerian Industrial Standard (NIS) 585: 2007 Standard for Concrete Admixtures – Part 1 – Specification for Accelerating Admixtures, Retarding Admixtures and Water Reducing Admixtures, Nigerian Industrial Standard (NIS) 156:1982 Standard Method for Testing Fresh Concrete and Nigerian Industrial Standard (NIS) ISO 41001:2020 Facility Management System Standard amongst others.

He said, SON had established regulatory powers enshrined in the SON Act to regulate locally manufactured products through its Mandatory Conformity Assessment Programe (MANCAP) and its pre-shipment verification of conformity to standards for imported goods through the Standards Organisation of Nigeria Conformity Assessment Programme (SONCAP).

Other Initiatives, he explained, include the Product Authentication Mark (PAM) which gives the Consumer the powers to verify the authenticity of a product before purchase.

According to him, “Other initiatives taken was the setting up of the SON’s task force Special Intervention to Standardise Steel Reinforcement Bars of where stakeholders in the sector, were engaged and a full-scale nationwide enforcement in factories and marketplaces was undertaken and as a result culpable dealers were sanctioned in line with the provisions of the SON Act No.14 2015.”

Nigeria’s Housing Sector Lacks Verifiable Data-Minister

Omobolanle Shosanya

Arc .Ahmed Dangiwa,the Minister of Housing and Urban Development has lamented lack of verifiable data in Nigeria’s housing sector.

He stated this on Tuesday at an inaguaral ceremony of of a Joint Steering Committee on National Housing Data to tackle Housing deficit in the country.

He said: “We do not have verifiable data in the housing sector to work with, what we have hadover decades are extimations and speculations.

“The lack of credible scientific verifiable data on the state of housing in our country stand out as the most pressing and embarrassing issue. Lack of unverifiable data impacts on the number of resources to be allocated.

“This is because without data we can not know the magnitude of the problems we are dealing with, how much resources we need to allocate, how long our projects will last and which areas to prioritise, infact we will be ‘flying blind’.

“To determine housing data, we must count all houses, both habitable and non- habitable houses across all geopolitical zones”

The Minister tasked the new committee with the the mandate to develop to develop an accurate blueprint data for the housing sector within twelve (12) months.

The committee’s members includes
representatives of the National Population Commission, the National Bureau of Statistics, the Central Bank of Nigeria, and the Federal Mortgage Bank of Nigeria, among others.

“The committee has been established as a strategic partnership among key stakeholders in Nigeria’s housing market, with the mandate to develop and implement a blueprint for ensuring transparency and ease of access to housing data in Nigeria, which will be essential for policy and decision-making towards affordable housing and the well-being of Nigerians,” the minister explained.

The minister also outlined the key deliverables expected from the Committee, including the development of frameworks for setting up the NHDC, data collection from public and private institutions, and the distribution of housing data to institutional and retail investors.

“I urge all the members to take this national assignment seriously and dedicate their efforts and resources to achieving the goals for which this committee is set up.

“Under the Renewed Hope Agenda, we are firmly against creating committees that do not deliver on their mandates.

“The timelines are clear, the deliverables are also clear. Let us work towards meeting them and charting a new and credible path forward for housing data acquisition, management, and usage,” he said.

Sanwo-Olu Launches 170 Housing Units In Agboyi-Ketu

Mohammed Shosanya

Lagos State Governor, Babajide Sanwo-Olu,hasunveiled a 170 units of housing project in Agboyi-Ketu Local Council Development Area of the state.

He restated his administration’s commitment providing affordable housing for residents of the state.

Sanwo-Olu spoke on Friday at the unveiling of the Raymond Estate and Sterling Heights, which is a government, private sector initiative, delivered by Mayor Dele Oshinowo-led administration of Agboyi-Ketu Local Council Development Area, in conjunction with Osita Homes and Sterling Bank.

He pledged to ensure that Lagos will continue to have irreversible trajectory of development in housing, health care delivery, education, tourism, as well as road and public transportation solutions

Commending the Chairman of the LCDA for his continuous efforts to raise the bar of governance and ensuring purposeful development for people to enjoy the dividends of democracy, Sanwo-Olu noted that Local Government and Local Council Development Areas in the state are working well.

Oshinowo,while delivering his welcome address, expressed gratitude to the Sanwo-Olu administration for tremendous support.

He said the housing initiative spear-headed by his administration through creation of Agboyi-Ketu Properties and Investment Board, in collaboration with the private sector, aims to align with the Sustainable Development Goals (SDGs) by providing affordable, accessible and quality housing to address housing deficits in the state.

He affirmed that the housing project exemplifies the strongest collaboration with the T H.E.M.E.S PLUS Agenda of the Sanwo-Olu administration.

He added:”The initiative, spearheaded by our administration through the creation Agboyi-Ketu Property and Investment Board (PIB), in collaboration with the private sector, aims to align with the Sustainable Development Goals (SSGs) by providing affordable, accessible and quality housing, in order to address deficits in our dear state. This initiative not only showcases Agboyi-Ketu, but also aims to boost our Internally Generated Revenue.

“Furthermore, our administration places great emphasis on infrastructure development as a means to enhance human capital and stimulate economic growth.
“I affirm our administration’s dedication to delivering good governance to the people of Agboyi-Ketu LCDA exemplifying that effective governance at the grassroots level is achievable in Nigeria”.

Afreximbank Boosts Support For Veenocks Porcelain Tiles Plant In Nigeria

Mohammed Shosanya

African Export-Import Bank (Afreximbank) has signed a project preparation facility agreement with Veenocks Limited for the financing of the development of Veenocks’ porcelain tile manufacturing plant located in Sagamu, Ogun State, Nigeria.

The plant, to be operated as an indigenously owned state-of-the-art facility with an annual production capacity of 6.6 million square metres of floor and wall tiles, is expected to bring on stream assets with an estimated investment cost of US$117 million.

Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank, signed the facility agreement on behalf of Afreximbank while Mr. Adebisi Abidemi Adebutu, Ultimate Beneficial Owner of Veenocks Limited, signed for the company.

Under the terms of the facility agreement, the project preparation facility will be deployed during the pre-investment stage towards de-risking the project and rapidly advancing it to bankability, with the early-stage intervention sending a strong signal to the market about Afreximbank’s commitment to the project.

In addition, Afreximbank will be appointed the Mandated Lead Arranger and will take the lead in syndicating the debt raise, with the ability to incorporate credit enhancements, if needed.

The project is expected to exploit and beneficiate Nigeria’s underutilised natural resources using clay to produce porcelain tiles for the domestic and international markets and will deploy proven technology to enable the country to exploit its natural resources at scale.

In addition to creating over 700 job roles over its operational period, the project is expected to result in exports estimated at US$11.4 billion.

Commenting on the agreement, Mrs. Awani explained that the facility agreement reflected Afreximbank’s commitment to advancing impactful projects in Nigeria and beyond as well as its dedication to leveraging its diverse product suite to offer end-to-end solutions throughout the project finance value chain.

She added that the holistic approach reflected the Bank’s comparative advantages in supporting its member countries to implement projects efficiently and effectively and of its support for indigenous African investors establishing state-of-the-art manufacturing facilities.

Demand for tiles in Nigeria was estimated at 210 million square metres in 2023, with local production at 137 million square metres. The demand is projected to rise to 270 million square metres by 2027.

Mr. Adebisi Abidemi Adebutu, Group President of R28 Holdings, the parent company of Veenocks, stated, “We are thrilled to welcome Afreximbank as a key partner in Veenocks’ journey towards sustainable growth. Once fully implemented, our state-of-the-art factories will set a new benchmark for world-class facilities in Africa, showcasing our commitment to excellence and innovation.

” This strategic partnership with Afreximbank marks a significant milestone in Veenocks’ expansion plans, enabling the company to leverage the Bank’s expertise and resources to drive growth and development in the region.

“With this collaboration, Veenocks is poised to make a meaningful impact in the industry, fostering economic growth and creating opportunities for communities across Africa”.

NDDC Sensitises Staff On Housing Fund Scheme Importance

Mohammed Shosanya

The Niger Delta Development Commission, NDDC, in conjunction with the Federal Mortgage Bank of Nigeria, FMBN,recently organised a sensitisation session to educate its staff on the provisions and benefits of the National Housing Fund Scheme.

At the interactive session held at the Commission’s headquarters in Port Harcourt, the NDDC Director, Administration and Human Resources, Mr. Patrick Ekade,emphasized the need to provide affordable housing for workers.

Ekade,who was represented by another director in the Administration and Human Resources Directorate, Barr. Anele Stephen Nzelaw,noted that every employee was expected to make a mandatory contribution of two and a half per cent of their monthly earnings into the fund, managed by the Federal Mortgage Bank.

Mr. Ekade,according to a statement signed by Seledi Thompson-Wakama, Director, Corporate Affairs,explained that it was necessary to sensitise NDDC staff on the housing scheme being managed by the FMBN.

In his presentation,the Port Harcourt Branch Manager of FMBN, Mr. Melody Ukwa, highlighted the bank’s role in addressing Nigeria’s housing deficit by providing affordable housing loans. He explained that NDDC staff could benefit from housing development loans and individual loans with single-digit interest rates.

He added: “Housing is a basic human right and a key factor for social and economic development. The FMBN, as the apex mortgage institution in the country, has a critical role to play in addressing this challenge.

“The FMBN has been providing mortgage finance and facilitating home-ownership for low and medium-income earners through its various schemes and products. However, these efforts are not enough to meet the growing demand for shelter and the expectations of the Nigerian people.”

According to Ukwa, the huge housing deficit in the country, which affects millions of Nigerians, was a serious challenge that required urgent and innovative solutions.

He stated: “Our objective is to operate as a robust and dynamic mortgage institution with the capacity to meet the challenges that arise from developing the nation’s mortgage industry.