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22 May, 2018

FG Commences Rehabilitation of Ikorodu-Sagamu Road, Says It Will Boost Economy

The Minister of Power, Works and Housing, Mr Babatunde Fashola, on Monday said the rehabilitation of the Ikorodu-Sagamu Road would boost agriculture and the economy of Lagos. Fashola said the road was strategic to industrailisation and agricultural development which were the priorities of the Buhari administration. He added that the road was strategic and would promote the growth of agricultural activities, boost business for industries in the axis and create employment opportunities. He listed the Odogunyan Industrial Estate, the NNPC Mosimi Depot and other firms as some of the beneficiaries of the project.

“The present government is very strong on agric and very strong on industrialisation and, indeed, on energy,” he said. According to him, the project had a national outlook and urged politicians to shun sentiments and focus on the developmental goals when constructing projects. “President Muhammadu Buhari has said I should tell you that not only are you getting Ikorodu-Sagamu Road, work has also started on Lagos-Ota Road to Abeokuta. And work would continue on Lagos-Ibadan expressway. “And if we get approval in the 2018 budget, hopefully, we would be able to start work on the last part of the Lagos-Badagry Expressway,” he said. He said the contractors’ first priority was to stabilise the road before the rains start.

He urged residents to be patient and cooperate with the contractors as the construction was likely to cause them some inconveniences. General Manager, Arab Contractors Nigeria Limited, Mr Wael Salem said, “We would try our best to make the road motor able.” The Ayangburen of Ikorodu, the traditional ruler of Ikorodu, Oba Kabiru Shotobi, represented by Otunba Ayodele Elesho also thanked President Buhari for making the project a reality. “I have the mandate of Kabiyesi to thank you,” he said. He assured the contractors of the cooperation of residents of the community. Sen. Gbenga Ashafa, Mrs Abike Dabiri-Erewa, President Buhari’s senior special Assistant on Foreign Affairs and Diaspora, Mr Jimmy Benson, Federal House of Representatives member representing Ikorodu Federal Constituency and others commended the Buhari administration.

They all noted that the important road had been abandoned by previous administrations and appealed to the contractors to deliver the project on schedule. The News Agency of Nigeria (NAN) reports that the 30.1-kilometre road links the Ikorodu round about in Lagos and Sagamu in Ogun State. The project is being handled by ARAB Contractors Nigeria Limited and has a completion period of 36 months.

Source: (NAN)

FG Committed To Even National Development – Fashola The Minister of Power Works and Housing, Babatunde Raji Fashola, has reiterated the commitment of the administration of President Muhammad Buhari to even national development as opposed to partisan politics and would be willing to work with all state governments irrespective of their party affiliations or ethnic divide. He made this remark when he paid courtesy calls on Governors of Ebonyi State, Engr. David Umahi, Enugu State, Ifeanyi Ugwuanyi and Anambra State, Chief Willi Obiano, at their various Offices during his three-day working inspection tour of Federal Government projects in the South East zone of the country. Fashola commended the Governor of Ebonyi state for keying into agricultural initiative of the Federal Government while assuring him of the present administration’s readiness to link Ebonyi and Cameroon through road boarders, which would facilitate international trade for the South Eastern States. The Governor in his response thanked the Minister for his visit and pleaded with the Minister to facilitate the payment of fund owed his state, which was incurred for maintaining the Federal roads within his domain. While at the Enugu Government house, the Minister enjoined the Governor to work in mutual cooperation with Electric Distribution Company of Nigeria (DISCO) towards having regular supply of power as Federal Government has provided a window for states and corporate bodies to buy power directly. He also added that the window also provides for individual or state production of private power up to 1 megawatt without conditions attached. Similarly, in Anambra State, the Minister gave account of all the Federal Government projects he had inspected in the state, and on the indebtedness of Federal Government to the state on Road maintenance, the Minister said that what is left is appropriation from the National Assembly. He, however, warned that states must observe due process before they embark on rehabilitation of Federal roads to avoid loss of their investment. Projects inspected in the South East before rounding off his working visit included National Housing Programme in all South East states, Energising Economy Electrification of Ariaria Market in Aba., Rehabilitation of Calabar -Itu-Ikot Ekpene -Aba Road ,Section III, Enugu -Port Harcourt Dual Carriageway Section II among others. The Site of Zik’s Mausoleum and Library Complex in Awka including Second Niger Bridge in Anambra State were also inspected.  
22 May, 2018
National Housing Programme Designed to Integrate Persons Living with Disability — Minister The National Housing Programme (NHP) is also designed for the integration of persons living with disabilities through inclusive building designs with ramps for mobility and interaction, an official says. The Minister of State II for Power, Works and Housing, Alhaji Suleiman Zarma, made the fact known on Tuesday during an inspection of construction at NHP site in Ado-Ekiti. Zarma in the company with some ministry officials was on an assessment tour of Federal Government roads and housing projects in the South-West Geo-Political Zone. The NHP is designed to suit different categories of people, including persons with disability, through provision of ramps to ease movement in the buildings. But in Ado-Ekiti, the structures were designed in such a way that persons living with disability are restricted to the ground floor. During the inspection, the minister said that people living with disabilities should not be restricted to the ground floor and should be allowed to interact freely. “In the world over now, people living with disabilities are integrated without being segregated. So there is no point to say that you have them only on the ground floor, that is another phase of segregation. “They should be able to go to all the floors and to all the levels of the building; they should be accommodated to carry out their activities. Zarma, a surveyor, urged officials in-charge of NHP in Ekiti, to ensure that designs suitable for persons with disability were captured very well in the next phase of NHP. “On the staircases, there will be strips or ramps that will cater for their movement. “They should not segregate the people with disabilities by restricting them to the ground floor; they should be allowed to go up and interact,’’ he noted. The NHP Team Leader in the state, Mr Segun Dossou, noted that due to an initial setback of relocation, the 70 housing units being constructed began late but was nearing completion. The architect assured the minister that the design for the second phase which would commence soon would go beyond the ground floor and extend to others to accommodate the people living with disabilities. He said all the contractors were mobilised and reported to the site except one that was handling two number blocks of three bedrooms who was yet to report for site handing over. According to him, the contractor has been served a warning letter to do so with a view to commencing the process of determining his contract. “The water infrastructure contract is already at 80 per cent completion with the drilling of four boreholes, installation of ground and overhead tanks and construction of water treatment plant. “The road infrastructure contract progress include completion of site survey, setting out of roads, cutting and bending of re-enforcement are on-going with view to commencing concrete works on the drainage. “External electrification progress includes the completion of erection of poles and construction of housing for transformer sub-stations while cable line installation is on-going. Dossou said that the project also created jobs and wealth for not only the building professionals and contractors but 1,500 skilled and unskilled artisans. The representative of the contractors, Mr Raji Kehinde, also appealed to the ministry to make funds faster to avoid delay in the completion of the project. One of the indigenes of the locality, Mr Femi Adetifa, expressed joy over the housing development in the state and called for continuity by the Federal Government. The minister also inspected the on-going construction of N3.3 billion Federal Secretariat Complex, located at New Iyin Road, Ado-Ekiti, by Messrs Deux Project Ltd. with 20 per cent of the job completed. Source: (NAN)
22 May, 2018
FG Teams Up With State Governments On Infrastructure Development Nationwide – Fashola Federal Government has no objection in States assisting to develop the road infrastructure located within their domains provided the terms of reference as provided by the Federal Government are respected. This will go a long way in deepening the dividends of democracy at the grassroots. The Minister of Power, Works and Housing, Babatunde Raji Fashola stated this at the Government House, Kebbi and Jigawa States while being received by the Governors, Sen. Atiku Abubakar Bagudu and Mohammed Badaru Abubakar respectively at the just concluded 2 – day inspection tour of on-going projects in the two States which commenced 8th May, 2018. Fashola had inspected the National Housing Programmes in the two states as well as the 108km Kalgo-Bunza-Kamba-Peka Road which terminates at the nations border with Niger Republic on the first day of his visit as well as paid courtesy calls on the two Governors. A total of 93km stretch of the Kalgo-Bunza-Kamba-Peka-Niger Republic Border Federal road was rehabilitated with asphalt overlay by the Kebbi State Government at the sum of N1,041,753,716.17 awarded to Messrs. CGC Nigeria Limited and this has since been reimbursed by the Federal Government while 15km of the road is still outstanding. The Minister was impressed with the standard of work and noted that the Federal Government remains committed to partnering with any state government that showed concern in providing critical infrastructure for the benefit of all citizens. While still in Kebbi, Fashola also inspected the on-going rehabilitation of Sokoto-Tambuwal-Jega-Birnin Yauri (Sokoto/Kebbi/Niger States) phase 1 Section 11: Jega-Birnin Yauri Road (186km) which is only 22.84% completed. At the pilot scheme of the National Housing Programmes (NHP) in both states which had a total of 38 Blocks of 76 flats each, comprising 3,2 and 1 bedroom flats, with some already completed and delivered by the contractors and others at different stages of completion, Fashola stated that the Federal Government will embark on a full scale housing economy at the end of the pilot scheme which is bound to create more than the 1,000 workers presently employed at each site in the 33 States where the NHP is currently active. He further stated that it will also triple the ecosystem of trade and commerce at the sites which has improved the economies and financial capacities of the locals and communities around the NHP sites nationwide. The Governor of Kebbi State, Sen. Artiku Abubakar Bagudu in response offered the Federal Government as much land as would be required for the full take-off of the programme and also thanked the Federal Government for the speedy response at reimbursing the State for the Kalgo-Bunza-Kamba-Peka-Niger Republic Border road. He noted that the Federal Government will seldom use the road but the indigenes of the state, surrounding states, border nations and other road users will enjoy the road. Also responding, the Jigawa State Governor, Abubakar Badaru invited the Minister to help commission 8 of the 10 completed state infrastructure stating that Mr. President had offered to commission two of the projects. He invited the Minister to also inspect the 1,300km road projects completed by his administration as a way of boosting transportation of agricultural products in the state. Fashola concluded his 2-day tour by inspecting the on-going rehabilitation of 32.8km Hadeja-Nguru Road Phase 11 in Jigawa State by Messrs. Mothercat Nig. Ltd. which is currently at 84.93% completion.
15 May, 2018
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PUBLIC ANNOUNCEMENT
20 May, 2018

Multinational: Benin, Cote D’ivoire, Ghana, Nigeria And Togo And The Economic Community Of West African States (ECOWAS)

Study on the Abidjan – Lagos Corridor Highway Development Project

Notice for Expression of Interest

Recruitment Of A Consultant To Conduct A Corridor Economic & Spatial Development Initiative Scoping And Project Packaging Study For The Abidjan-Lagos Highway Corridor Highway Development Program

The ECOWAS Commission has received Grants from the African Development Fund (ADF) and the European Development Fund (through the African Investment Facility –AfIF) to cover the cost of studies on the Abidjan-Lagos Corridor Highway Development Project, and intends to use part of Grant amount to finance service Consultants Contract for Corridor Economic & Spatial Development Initiative (SDI) Scoping and Project Packaging Study for the Abidjan-Lagos Highway Corridor.

The services under this Contract mainly consist of: (i) defining the corridor’s zone of influence to show direct and indirect beneficiaries (populations, other economic activities, etc.) which the corridor affects and vice versa, using the appropriate technical methodology under the SDI concept; (ii) identifying and analyzing the significant developmental aspects of the various zones along the corridor; (iii) identifying a longlist of economic projects (trade, logistics, industry, etc) within the geographical zone of influence of the Corridor, that are worth developing as part of the multinational highway project to result in a holistic economic development corridor, (iii) data gathering, and scoping (shortlisting) of SDI projects; (iv) developing regulatory and institutional framework for the holistic development of the corridor as an economic development corridor; (v) perform economic and financial analysis of selected projects to determine the nature of investments required for further development and (vi) develop an Abidjan-Lagos corridor economic development investment & marketing plan.

Feasibility and Detailed Engineering Studies are to be conducted per the following lots to cover the entire corridor: (i) Lot 1: Abidjan (Cote d’Ivoire)-Takoradi (Ghana), 295.3 km; (ii) Lot 2: Takoradi-Apimanim  (Ghana)-Accra (Ghana)–Akanu/Noepe Border (Ghana), 466 km; and (iii) Lot 3: Akanu (Ghana)-Noepe (Togo)-Lome (Togo)-Agonmey Glozoun (Togo)-Athieme (Benin)-Cotonou (Benin)-Seme-Krake (Benin/Nigeria)-Lagos (Nigeria), 320.06 km.  All distances provided are indicative and could be more depending on the eventual confirmation of alignments by Member States. 

The overall duration of the Feasibility and Detailed Engineering technical studies is estimated at twenty seven (27) months for each lot and the Corridor Economic and Spatial Development Study shall cover the entire corridor for a period of twelve (12) Months with some interim outputs (impacts from shortlisted projects) that could be taken on board by the feasibility and detailed design Consultants.

The ECOWAS Commission invites Consultants (firms with proven experience in spatial development initiatives, economic corridor development, urban and land use planning, transport infrastructure engineering firms for large-scale infrastructure projects) to submit their candidacy for the services described above. Interested, eligible and qualified consultants must produce information on their ability and experience demonstrating that they are qualified for services of similar nature. The shortlisting criteria shall be: (a) general experience in Economic Corridor Development, urban planning and development services (Studies, Technical Assistance, Project Management,) over the last ten (10) years; (b) specific experience in the field of studies of spatial development and establishment of economic zones along multinational highway corridors during the last ten (10) years; (c) Specific experience in cross-border or multinational land-use planning over the past ten (10) years; (d) availability of key personnel (list, qualification, experiences); (e) logistical and equipment; (f) IT Resources and specialized software, etc. (g) capacity to produce reports and all other relevant documents on the study in English and French.

NB: Each reference will be summarized on a project sheet, and will be considered only if the candidate attaches supporting documents indicating the contact information of the contracting authorities so as to facilitate verification of the information provided: Excerpts of contract (inner cover page and page with the signatures) plus Attestation of good performance.

Consultants may form groups to increase their chances of qualification.

The eligibility criteria, the preparation of shortlist, and the selection procedure shall comply with the African Development Bank’s Procurement Framework for operation funded by the Bank Group as of October 2015 available on the Bank’s website: http://www.afdb.org. The selection procedure will be based on Quality Based Selection Method (QBS), and a shortlist of six (6) firms which present the best profiles shall be drawn up after the expression of interest. Also the firms that are part of an international network are to submit one expression of interest.

Interested consultants can obtain further information at the e-mail addresses mentioned below during working hours: 8:00 a.m. to 12:00 noon (local time) on working days: procurement@ecowas.int with copy to pgueye@ecowas.int; vtulay@ecowas.int; cappiah@ecowas.int ; deklu@ecowas.int ; sbangoura@ecowas.int

Expressions of interest must be delivered in a written form (one (1) signed original plus four (4) copies) in (person, or by registered mail) to the address below, not later than 14th June, 2018 at 11:00 a.m. (GMT+1), Nigerian Time, and must be clearly marked: “Studies on the Abidjan-Lagos Corridor Highway Development Project/Expression of Interest in Consulting Services for Corridor Economic and Spatial Development Initiatives Study”.

For delivery in person or by registered mail to:

Directorate, General Administration, Procurement Division
First (1st) Floor of the ECOWAS Commission Headquarters,
Plot 101, Yakubu Gowon Crescent,
Asokoro District, Abuja,
NIGERIA.

Requests for further information or clarification could be sent by e-mail:
Attention : Commissioner General Administration &Conference
Email : vtulay@ecowas.int

with copies to :

* sbangoura@ecowas.int
* procurement@ecowas.int
* cappiah@ecowas.int
* pgueye@ecowas.int
* deklu@ecowas.int

The working languages shall be English and French. The Expression of Interest will be submitted in English.

OTHER NEWS
23 May, 2018

Up Your Game, Zarma Urges Indigenous Contractors

- Osun Government Commends FG on Massive Infrastructure Delivery

Minister of State 11, Power, Works and Housing, Suleiman Hassan Zarma has urged indigenous contractors handling Federal Government projects to “up their game” by improving on their pace of work in order to deliver their projects on schedule.He said Government has much confidence on indigenous contractors and disclosed that the present administration is determined to encourage and promote indigenous contractors.

The Minister who is on inspection of the Ministry’s projects to the South-West Zone, however expressed displeasure at the slow pace of work at the the 27.6Km Oshogbo- Ilesha Road, Section 1 handled by  Messers Horizon Construction Limited. He said it was appalling for a 27Km road Rehabilitation project awarded since 2010  to exceed its completion date by 104 per cent in 2018. He asked “if it takes you 8 years to rehabilitate a road, how many years will it take you to build one”.

Zarma challenged the contractor to prove his capacity to deliver the job and stop giving excuses for the delay. He said, ‘government gave you the job with the assurance that you can deliver, you asked for extension after a long delay, your request is not approved, you have to mobilize every resource to meet up the extended October 2018 completion date”.

Meanwhile, the Federal Government has been highly commended for the massive execution and monitoring of its infrastructure projects across the nation particularly on roads, housing and power. Speaking during a courtesy visit by the Minister to the Governor of Osun State, Ogbeni Rauf Aregbesola who was represented by his Deputy, Chief (Mrs) Grace Titilayo Tomori, said the Minister’s inspection of on-going projects in the state and across the nation laid credence to the commitment of the present administration to deliver basic infrastructure to the people. She said, “your visit to the state has confirmed the seriousness the federal government attaches to road construction in the state and the nation at large”. She  further applauded the Minister for undertaking the tour by road to see things for himself and ensured that the contractors are working.

The deputy governor disclosed that the state was also complimenting the federal government effort by constructing over a 1000km of roads across the state. According to her, the state governor was well known to be a “ constructor of roads”.

Briefing the Minister at the Oshogbo- Ilesha road inspection, the Federal Controller, Works, Engr Omorekpe Njoku said, that the contract was awarded in 2010 at a contract  sum of .N2.69b but was later reviewed  to N2.88b to accommodate the drainage works on the road. He affirmed that the contractor is indeed slow in delivery on the project.

The Contractor, Messers Horizon Construction however explained that the reason for the prolonged delay in the completion of the project was due to the non budgetary appropriation for the project by past administrations for about three years leading them to stop work at a time. He however commended the present administration for including the project in its appropriation since last year and promised to mobilize fully to meet the completion deadline.

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Speeches
26 September, 2016

Keynote Address Presented At The 32nd Annual Conference And General Meeting Of The African Union For Housing Finance (AUHF)

Theme: Housing and Africa’s Growth Agenda at PDTF Centre, Central Business District, Abuja, 14th -16th September, 2016. By The Honourable Minister of Power, Works & Housing; Babatunde  Raji  Fashola, SAN.

Protocols

I am delighted to address you on the occasion of this 2016 Annual Conference and General Meeting of the African Union for Housing Finance (AUHF) holding in Abuja, Nigeria. The political will and momentum of the present administration in her housing sector agenda are further invigorated by this conference taking place few months after the June 2016 National Housing Summit. You will recall that the outcome of the recent National Housing Summit identified Housing Finance as one of the major pillars necessary for realizing Affordable housing delivery in Nigeria apart from others like Land, Concessions/incentives, Off-taker Strategy and General Skills Acquisition. It is indeed, heartwarming and reassuring to note that AUHF is an association of Mortgage Banks, Building Societies, Housing Corporations and other organizations involved in mobilizing funds for housing on the African continent. Also that the goals of AUHF includes promoting and facilitating housing finance and unlocking its multiplier effects on National economies, hence leading to Africa’s economic growth. I understand that the Conference attracts stakeholders from across the African Continent, all with the purpose of advancing investment in affordable housing.

2. Let me begin by thanking the Nigerian Mortgage Refinance Company (NMRC) and other partners for hosting this important conference. The hosting of AUHF 2016 conference in Nigeria could not have come at a more auspicious time than now that Nigeria needs aggressive unleashing of new housing finance investments and opportunities. I will also like to thank all the stakeholders and experts from Africa and around the world for coming together to proffer solutions to the age long challenge of providing housing finance for Africans, especially Nigerians that are facing harsh economic challenges.

3. Housing, we know is critical to every human development and fundamental right of every citizen. Therefore, Housing is central to this Administration’s policy thrust. However, housing a population of over 180 million is an arduous task that cannot be left for Federal Government alone, especially now that the Government’s revenue and the economy is  under pressure.  The fund to support the construction and mortgages for the end-users is a big challenge for the government. The production cost versus the selling price of the present housing stock is beyond the reach of majority of Nigerians.  Demand for affordable housing has grown over the years as a result of population explosion, rural-urban drift and search for higher quality of life. This demand has rapidly overwhelmed the supply capacity of existing Government resources. Many years of inadequate investment and poor maintenance culture have left Nigeria with a significant housing deficit which is slowing down the country’s development and economic growth and will clearly require close collaboration from stakeholders like the AUHF. The above demanding task is the mandate of my Ministry, Federal Ministry of Power, Works and Housing. Therefore, all stakeholders especially the Private sector and AUHF must play major role in this process of creating innovative housing finance in Nigeria.

4. Every Nigerian’s dream is to have a roof over their head! Hence, for an average Nigerian "owning a house" is a mark of economic success and security.  Housing is also believed to be a long term investment that protects that investment against high inflation and the unpredictable economic down turn. Therefore, provision of housing is a major tool to reduce corruption. Why is it so difficult for the average Nigerian to realize this dream? Lack of Housing Finance in the public and corporate institutions and double digit housing loans are the major culprits while others include land for housing, population explosion, high cost of building materials, inflation that brings about unemployment and decreased purchasing power of the low and medium income earners.

5. The major housing Finance trends and developments in the Nigerian market can be summarized by tracing the historical tendency of the influence of the financial sector in the housing industry. In 1956, a Secondary Mortgage Institution called Nigerian Building Society (NBS) assumed the role of the main conduit for housing finance delivery. NBS was a British and Nigeria partnership arrangement. Nigeria’s housing finance development can be classified under major political periods, namely pre-independence (1914-1960), post-independence (1960-1979) and a second and subsequent civilian administrations (1979 to date). However, the mortgage institutions decree No. 53 of 1989 led to the establishment of the following; Primary Mortgage Institutions (PMI) as mortgage savings for on-lending property development and mortgage creation. And, the Secondary mortgage institution, the Federal Mortgage Bank of Nigeria (FMBN), to function as the Apex mortgage institution for regulation.  While the National Housing Policy of 1991 was a bold step by the Federal Government of Nigeria to address the challenge of lack of finance for housing development and mortgage.  The National Housing Fund (Act. No. 3) of 1992 is a collating reservoir of long term funds in terms of monthly contributions from workers in the public and private sectors. Unfortunately, most Nigerians see mortgage loans from Government as part of their share of the "national cake" leading to high default rates. This has forced the Government to encourage prospective home owners to approach commercial banks who regrettably have high interest rates.  Thus, the Government who is supposed to be a major player in the provision of homes is now seemingly not on the frontline. The Government established the Nigerian Mortgage Refinancing Company (NMRC) to help in reducing the cost of mortgage loan by improving market efficiency.

6. From the inception of Government initiative in organized housing finance system to date, only a meager sum have so far been injected to the system. This accounts for less than 0.5% of the Gross Domestic Product (GDP) as compared to other climes (like United Kingdom, South Africa etc) due to the inability of financial systems in providing low cost finance that meets the need of low and medium income earners. Therefore, the Secondary Mortgage institution (FMBN) should be strengthened by ensuring full compliance with the National Housing Funds (NHF) Act by affected stakeholders, like the Central Bank, commercial banks, insurance companies, Mutual and Trust Fund administrators.  However, I am happy to note that with the greater participation of the private sector in housing and embracing the new initiatives of this Administration, the journey to sustainable housing delivery is on course.

7. Ladies and Gentlemen, it may interest you to note that the current Administration has taken cognizance of the housing sector as an important area requiring priority attention for reinvigoration and revitalization. This accounts for the appreciable budgetary allocation to the sector in the current annual estimate. This vision is increasingly being energized by the Federal Ministry of Power, Works and Housing. Only recently, the Ministry organized a National Housing Summit, where stakeholders met and examined the numerous constraints militating against the provision of affordable housing in Nigeria and proffered a clear, sustainable and strategic blueprint to mitigate same. Identified as a critical factor in the provision of affordable housing was lack of access to construction finance by developers including high risk in current mortgage finance structure which does not support the buying-off of houses to enable developers recoup their investments on time. The Summit resolved that there was need for necessary machinery to be put in place to promote appropriate construction finance schemes. AUHF members are hereby challenged in this regard. In the summit also, various definitions of affordable housing were adduced. However, the consensus from these definitions revealed that there is no one-size-fit all definition for Affordable Housing. The indices that should be used for defining Affordable Housing would include Segregation, Stratification, Classes of people and their income bracket, not more than one-third net household income of the target group and equity contribution of end-users.

8. I am happy to note that despite the challenges that housing delivery has encountered in the country over the years, the renewed vigor and policy re-orientation of this Administration have set the agenda for Housing revolution. In this regard, the Ministry has produced six (6) designs of one bedroom, two-bedroom, three-bedroom flats, bungalows and condominiums that will represent the Nigerian House which responds to our cultural diversity. Another key area of achievement is the pursuit and promotion of local content and standardization of building components such as doors, windows, tiles, roof boards and other accessories to be produced by local manufacturers as part of our support for local industries SMEs and in pursuit of diversification and job creation. Effort is already being made to embrace and deploy modern technology to mass production of housing in all the States of the Federation and FCT using the Traditional procurement platform and the Contractor Finance Initiative model, to reduce the housing deficit.

9. To make the Housing Sector attractive, viable and stimulate growth, the present Administration plans to de-risk lending to approved Housing Developers. This will entail the government providing guarantees and other credit enhancement to developers. Government therefore plans to issue promissory notes to reduce Developers financing requirements. Government recognizes that provision of leverage and guarantees are critical in attracting private sector funds into the industry thereby creating thousands of affordable houses each year as well as generate considerable employment and commercial activities. These are some of the far reaching contribution of the Finance Minister during the Housing Summit.

10. Ladies and Gentlemen, I wish to state here that much discussion has been held on the housing deficit. There is therefore need to change the story to begin to discuss the housing opportunities. Regardless of issues facing the sector, real estate projects are increasingly being launched and completed in Nigeria. With the present Administration’s many incentives, new investors are expected in the market to continue to deliver positive results.

11. It is on this note that I call on all stakeholders, especially members of the African Union for Housing Finance here present to join hands with the Federal Government towards the realization of its objectives in providing affordable housing to the people. As agent of change, members are enjoined to borrow a leaf from Nigeria and influence their respect home governments to domesticate or localize their housing options to reflect the peculiarities and expectations of the people as well as provide the private sector the needed impetus to invest in the sector.

12. Finally, I wish to state that though the challenges to the sector are real and obvious, we are convinced that with the renewed commitment of this Administration, coupled with strengthened collaborations with all stakeholders in the industry, the desired revolution in the housing sector will be achieved in not too distant future.

13. I wish you all very engaging and thoughtful deliberations and thank you for listening.

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Photo News
23 May, 2018

FASHOLA ASHAFA OTHERS AT THE FLAG OFF OF THE REHABILITATION OF IKORODU SHAGAMU ROAD IN LAGOSOGUN STATES

Hon Minister of Power Works Housing Mr Babatunde FasholaSAN2nd left Senator representing Lagos East Senatorial District in the National Assembly Senator Gbenga Ashafa left House of Representatives member representing Ikorodu Constituency Hon Jimi Bensonright and representative of the Managing Director Arab Contractors Nigeria Limited Mr Wael Salem 2nd right during the flag off of the Rehabilitation of Ikorodu Shagamu Road in LagosOgun States at KM 2Ikorodu Shagamu Road on Monday 21st May 2018

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Power News
Photo News
21 May, 2018

FASHOLA INSPECTS ONGOING CONSTRUCTION WORK ON 2ND NIGER BRIDGE IN ANAMBRADELTA STATES ON DAY THREE OF TOUR OF INFRASTRUCTURE PROJECTS IN THE SOUTH EAST ZONE

Personnel of Julius Berger Plc at workduring theinspection tour of the ongoing construction work on 2nd Niger Bridge in Anambra and Delta States by theHon Minister of Power Works Housing Mr Babatunde FasholaSANon Day Three of his inspection tour of Federal Government Infrastructure Projects in the South East Zone of the country on Thursday 19th May 2018

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