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
Politics
‘If Wike Fails To Apologize To Okinbaloye, We Will Boycott All Press Briefings’ – Broadcasters Warn
The Independent Broadcast Association of Nigeria (IBAN) has asked the Minister of the Federal Capital Territory, Nyesom Wike, to retract a controversial remark he made about a journalist with Channels Television, Seun Okinbaloye.
IBAN, the umbrella body for independent broadcast stations in Nigeria, also warned that it may boycott all media engagements organized by the minister if he fails to issue a public apology.
In a statement signed by Ahmed Ramalan, IBAN Chairman, and Fidelis Duker, Acting General Secretary, the association expressed concern about the implications of the comment aired during a live television interview.
The controversy stemmed from a remark made by Wike during a routine media chat on Friday, when he reacted to Okinbaloye’s commentary on the trajectory of Nigeria’s democracy while watching the program Politics Today.
“If there was any way to break the screen, I would have shot him,” Wike had said.
The minister later clarified to journalists present that the statement was not a literal threat.
On Saturday, Lere Olayinka, Senior Special Assistant on Public Communications to the minister, described the comment as “hyperbolic”, arguing that it had been taken out of context by critics.
However, IBAN maintained that the remark was inappropriate for a public official, even if it was not intended as a literal threat.
The association said statements suggesting violence could easily be interpreted as intimidation of journalists.
IBAN warned that comments implying violence could contribute to a hostile environment for media practitioners.
The group noted that Nigeria currently ranks 122 out of 180 countries on the global press freedom index, adding that journalists already face numerous challenges.
According to the association, these include surveillance, attacks, and arbitrary arrests.
The association called on the minister to withdraw the remark and apologise publicly to the journalist and the wider media community.
IBAN also urged Wike to reaffirm his commitment to press freedom in accordance with Sections 22 and 39 of the 1999 Constitution.
“Should the minister fail to meet these requests within a reasonable period, IBAN will have no choice but to advise all independent broadcast stations to suspend coverage of all press briefings, media chats, and official news conferences hosted by the FCT minister,” the statement read.
Despite its warning, the association said it remains open to constructive engagement with public officials.
“We hope the minister will take the necessary corrective action so that normal coverage can continue without interruption,” IBAN added.
Politics
EASTER CELEBRATION: Hon Success Opara Wishes Nigerians Joy, Hope, and Renewal
In a heartfelt message, Hon Success Opara has extended warm Easter greetings to Nigerians, celebrating the resurrection of Jesus Christ. Speaking at St. Peter Anglican Church Ikengbu, Opara emphasized the significance of Easter, saying, “He is risen! May the miracle of Easter bring you renewed hope, faith, and joy. Rejoice in the promise of new life and the joy that conquered everything.”
The lawmaker prayed for Nigerians to experience the transformative power of the resurrection, urging them to find solace in the promise of eternal life. “As we commemorate this sacred occasion, let us reflect on the values of love, compassion, and forgiveness that Jesus Christ embodied,” he said.
Hon Opara’s message was filled with Easter cheer, as he wished Nigerians a joyous celebration with family and loved ones. “May the spirit of Easter fill your heart with peace, hope, and renewed faith. Happy Easter!”
The Easter celebration at St. Peter Anglican Church Ikengbu was marked with prayers, hymns, and reflections on the significance of Christ’s resurrection.
Politics
I’m Not a Part of Any Plan to Turn Nigeria Into a One-Party State, But INEC Will Follow Court Orders, Not Political Pressure — INEC Chairman, Joash Amupitan
The Chairman of the Independent National Electoral Commission (INEC) Prof. Amupitan has rejected claims that the commission is being used to create a one-party state in favor of President Bola Tinubu ahead of the 2027 elections. “I am not guilty as charged,. Let me say it very clearly. I am not a party to the plan of anyone to turn Nigeria into a one-party state. By the constitution of the Federal Republic of Nigeria, Nigeria is a multi-party state and this is recognized by the constitution and the Electoral Act,” he stated.
He cited the recent FCT area council elections, noting about ten political parties participated, including ADC, PDP, Labor Party, and Zenith Labour Party. “The democratic space remains vibrant. Parties are participating, and the elections demonstrate that competition is alive,” he said.
On disputes within the ADC and the PDP, he explained, “One of the challenges we’ve had is the issue of party leadership. And it’s something that is impacting on democracy because if those issues are not addressed on time, it can cause a lot of problem. Nobody is looking at that part that ordered the trial court to give it expeditious trial. This is an originating summons. An originating summons that could, if they had gone to court, have been decided by now because the Court of Appeal has given a specific order that it should be decided expeditiously.”
Explaining INEC’s role, he said, “So therefore, it calls to question the fact that this order has been made. They’re supposed to go back to the Federal High Court and let the Federal High Court, with that order, compel the judge to hear that case expeditiously. The Court of Appeal made a preservatory order, status quo antebellum. The commission just recorded positions before 2nd September 2025. If the court gives judgment, parties can proceed. Life goes on.”
He concluded, “The whole idea that INEC is being used to turn Nigeria into a one party state is false. INEC follows court orders, not political pressure.”
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GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI
