Politics
FEC APPROVES INITIATIVE TO TRANSFORM NIGERIA’S INFRASTRUCTURE AND HOUSING SECTOR THROUGH PRIVATE PARTNERSHIPS
The Federal Executive Council has approved an initiative aimed at transforming the nation’s infrastructure and housing sector.
The initiative, as approved by the council, is tailored to meet the urgent demand for critical infrastructure and affordable homeownership, fostering job creation, inclusive growth, and long-term productivity enhancement.
The council gave its nod to the initiative at its meeting at the State House in Abuja on Tuesday.
The initiative will unlock private-sector funds, which Nigerians can access for 25-year mortgages at low interest rates to realize their dream of owning a home.
At a press conference after the meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, explained the importance of innovative collaborations between the private sector and Sovereign Owned Enterprises (SOEs) like the Nigeria Sovereign Investment Authority (NSIA) and the Ministry of Finance Incorporated (MoFI).
He said such partnerships are envisioned to strategically channel funding to high-impact areas, ensuring impactful economic outcomes for the people.
“This alliance signifies a significant step towards driving sustainable development and economic growth in Nigeria by leveraging private-sector resources and expertise in strategic areas of need,” the Minister said.
The initiative aims to further strengthen the Federal Mortgage Bank and the Federal Housing Authority, enabling both public and private entities to fulfill their housing obligations. This collaboration is expected to boost the initial phase of the President’s Renewed Hope Cities project, with the aim of providing 50,000 units of homes across the country.
The partnership includes institutional investors creating mortgages within a framework overseen by the Ministry of Finance Incorporated to enable funding. This structure will streamline fund transfer from private investors to the housing sector, specifically the mortgage market, encouraging affordable homeownership opportunities.
The partnership will incorporate a specialized framework utilizing a special-purpose vehicle (SPV) owned by the Nigeria Sovereign Investment Authority. This structure will enable institutional investors to provide sustainable long-term financing with robust oversight, reducing risks associated with large-scale government projects.
The initiative also aims to ensure private-sector involvement in project governance, cost management, and asset delivery, offering tangible benefits to Nigerians while safeguarding investor interests. The infrastructure focus includes power generation, toll roads, and railway projects to align with the government’s economic goals.
Simultaneously, the federal government of Nigeria will concentrate on funding essential infrastructure to enhance project viability for private-sector participation.
Private-sector discussions and commitments indicate a potential mobilization of around N2 trillion in long-term financing for housing and infrastructure projects nationwide. This partnership holds the promise of numerous benefits for the Nigerian population.
By collaborating with private institutional investors, the President Tinubu-led government seeks to leverage the expertise and capital of private investors to accelerate the delivery of vital projects, driving sustainable development and economic progress for all Nigerians.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
May 14, 2024
President Bola Tinubu felicitates Senator Ifeanyi Godwin Ararume, astute politician and accomplished businessman, on his birthday, December 16.
Senator Ararume’s odyssey in politics began in the late 1980s, when he served as the State Treasurer of the Liberal Convention in old Imo State. He later joined the National Finance Committee of the defunct National Republican Convention.
He represented Imo North in the 9th National Assembly. He was first elected in May 1999 and re-elected in April 2003. He also served on several committees and held other official roles.
President Tinubu commends the former senator for his years of service to the nation and contributions to its peace, unity, and progress.
The President describes Senator Ararume as a resolute and shrewd politician, highlighting his courageous and remarkable political journey through the years.
President Tinubu wishes Senator Ararume a happy 67th birthday and prays that God Almighty will grant him more years of good health and strength.
Politics
Ndigbo are no longer spectators in the Nigerian project- Minister Dave Umahi dismisses calls for Biafra under Tinubu’s administration
The Minister of Works, David Umahi, says the all-inclusive style of governance being practiced by President Bola Tinubu has made the agitation for Biafra an unnecessary clamour.
While speaking at the inspection of the Enugu-Anambra road last Saturday, December 13, Umahi said the Tinubu administration had given Ndigbo what they had sought for decades, not through secession, but through what he described as unprecedented inclusion in national governance and development.
He explained that the agitation for Biafra was historically driven by neglect, exclusion and underrepresentation at the federal level, but insisted that the situation had changed under the current administration.
“When a people are fully integrated, respected and empowered within the structure of the nation, the dream they once chased through agitation has already been achieved through cooperation.
The push for Biafran secession over the years was borne out of neglect, exclusion and underrepresentation but today the narrative has changed dramatically under President Bola Tinubu.
The President has deliberately opened the doors of national development to the South-East. Appointments, policy inputs and infrastructure priorities now reflect true federal balance.
Every sector now bears visible Igbo footprints. The emergence of Igbo sons and daughters in strategic positions is a testament to this inclusion.
Biafra was never about breaking Nigeria; it was about being counted in Nigeria. Through inclusion, equity and concrete development, Ndigbo are no longer spectators in the Nigerian project; they are co-authors of its future. When justice finds a people, agitation loses its voice.”he said
The African Democratic Congress (ADC) has announced a 90-day nationwide membership mobilisation, revalidation, and registration exercise as part of preparations for its internal party activities ahead of 2026.
The party also approved provisional dates for its congresses and the election of delegates at the polling unit, ward, and local government levels across the country.
In circulars issued by its national secretary, Rauf Aregbesola, the ADC said the congresses are expected to hold between January 20 and January 27, 2026.
The process, the party said, will lead to the emergence of delegates who will participate in its non-elective national convention scheduled for February 2026 in Abuja.
A statement by Bolaji Abdullahi, national publicity secretary of the party, said the decisions were reached at a meeting of the national working committee (NWC) held on November 27, 2025.
Abdullahi said the timetable and activities were approved in line with the resolutions of the NWC and in accordance with relevant provisions of the party’s constitution.
The ADC said further details on the membership exercise, congresses, and convention will be communicated to party members and stakeholders in due course.
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