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
He spoke to a crowd in Akwa Ibom State, emphasising the importance of voter participation and electoral accountability.
Former governor of Anambra State and 2023 presidential candidate, Peter Obi, has issued a warning that electoral officials who fail to count votes in the 2027 elections will face consequences.
He spoke to a crowd in Akwa Ibom State, emphasizing the importance of voter participation and electoral accountability.
“In the upcoming election in 2027, anybody who refuses to count our vote, we will count the person join. Anybody who refused to count our votes in 2027, we will count him.”
The event concluded with calls for citizens and political actors to support a credible and peaceful electoral process in 2027.
Obi left the Peoples Democratic Party (PDP) after disagreements over the party’s nomination process ahead of the 2023 presidential election.
He subsequently joined the Labour Party and contested the 2023 presidential election under its platform.
His campaign drew widespread attention across Nigeria, especially among young voters, and was noted for its emphasis on transparency and accountability in the electoral process.
Observers said Obi’s experience in the 2023 election has shaped his continued focus on electoral integrity and the proper counting of votes ahead of 2027.
In December 2025, Obi formally joined the African Democratic Congress (ADC), signaling his continued involvement in national politics and his commitment to participating in future elections under a new party platform.
The Independent National Electoral Commission (INEC) postponed the date of the general election in 2003 after Christians protested over a clash with Easter.
INEC had initially fixed April 19, 2003, for the governorship and state house of assembly elections.
The date, however, coincided with Holy Saturday, a day preceding Easter Sunday, a significant event on the Christian calendar.
In a statement at the time, the conference said the decision demonstrated insensitivity to the religious commitments of a large segment of the population.
The bishops implored INEC to move the election in the spirit of inclusiveness and national harmony.
The protest sparked public debate over the need to balance electoral timelines with religious observances.
Following consultations and mounting pressure, INEC announced a shift in the election date.
The commission subsequently moved the governorship and state assembly elections to a new date in the same month.
Atiku, others kick against 2027 general election dates
A similar debate has been ignited after the electoral umpire announced dates for the 2027 general election.
Joash Amupitan, INEC chairman, on Friday announced dates for the presidential and national assembly elections during a news conference in Abuja.
“By virtue of the constitution of the Federal Republic of Nigeria, 1999 (as amended), tenure of the president, vice-president, governors and deputy governors of states of the federation (except Anambra, Bayelsa, Edo, Ekiti, Imo, Kogi, Ondo, and Osun states) will expire on the 28th day of May, 2027 while membership of the national and state assemblies will stand dissolved on the 8th day of June, 2027,” he said.
Outrage trailed the announcement on social media following reports that the dates fall within the Islamic holy month of Ramadan.
They said that the physical challenges of fasting could affect how many people vote, and might also slow down the work of people watching the elections and those in charge of running them.
He asked the commission to think again about the February 20, 2027 date, because he was worried it would clash with the Muslim fasting month of Ramadan.
On Friday, through his official X account, Atiku mentioned that the suggested date is “right in the middle of the Ramadan period (February 7 to March 8, 2027), a special time for fasting, thinking, and spiritual practice for many Nigerian Muslims.”
Bashir Ahmad, who used to work closely with late former president Muhammadu Buhari, also asked INEC to think again about the dates.
He tagged INEC on his X post, which partly said: “If the goal is to promote full and inclusive involvement in the election process, holding such an important national event during Ramadan could create difficulties for many people in the country.
“Many Muslims often cut back on busy daily tasks during this time so they can focus more on their religious duties. Because there are a lot of Muslims in this country, it might be a good idea to think again about when something happens so that more people can take part and it’s easier for everyone. I hope this observation is understood in a way that promotes unity and brings people together.”
INEC vows to review 2027 election dates
However, INEC, through a statement from the National Commissioner and Chairman of the Information and Voter Education Committee, Mohammed Haruna, said the schedule was created carefully following the timeframes set out in the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the Electoral Act, 2022, and the INEC Regulations and Guidelines for Conducting Elections, 2022.
Haruna said that the INEC Regulations and Guidelines for conducting elections, which have been in place since 2019, set the dates when elections are to be held.
He quoted paragraph two of the regulation, which says: “The elections for the offices of President and Vice President, as well as the National Assembly, will take place on the third Saturday of February in any general election year. The elections for the offices of Governor and Deputy Governor, as well as the State Houses of Assembly, will happen two weeks after that.”
He added, “Based on this, and following these existing laws and rules carefully, the Commission set Saturday, February 20, 2027, for the Presidential and National Assembly elections, and Saturday, March 6, 2027, for the Governorship and State Houses of Assembly elections.”
Even though the above points are considered, the Commission said it has acknowledged the worries raised by stakeholders about the planned dates overlapping with some nationally recognized holidays and events.
The Commission said it wants to let the public know that it is aware of all valid worries that could affect how people vote and how elections are run in general.
He said that because of these changes, “the Commission is now talking to different groups and might, if needed, ask for legal changes to deal with the issues raised, but always making sure any changes follow the laws and the constitution.”
INEC said it would continue to emphasize its strong dedication to being open, fair, and ensuring the 2027 General Election is conducted honestly and reliably.
Chairman of the Nigeria Bar Association, NBA, Electoral Reform Committee, Monday Ubani, SAN, says the Senate’s proposal on the Electoral Reform Amendment Bill leaves room for error.
Ubani made this statement on Saturday while fielding questions in an interview on Arise Television.
He said that both electronic transmission and transfer involve manual collation that happens in collation centers, stressing that nothing has changed.
According to him, IREV is just for viewing results, maintaining that it does not calculate or tabulate results.
The lawyer added that the issue most Nigerians have with the Senate’s version is that there’s room for communications failure that can be illegally taken advantage of.
“The Senate proposed bill leaves room for electoral error. If there are differences, there will be a harmonization committee to look at those differences and come up with a harmonized version for transmission to the President for assent.
“And I’m very happy that the House of Representatives did theirs last year and then the Senate have actually also passed their own version and there are differences and then the committee will sit on Monday in order to harmonize that position.
“The position of the law, which is 2022 Act, was that it gave INEC the responsibility of issuing out a guideline or prescribing a guideline as to the mode of transfer.
“The problem with our electoral system has always been between the polling unit and the collation centre.
“The people have witnessed a situation where a different result will be declared at the collation centre, different from what happened at the polling unit,” he said.
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GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI
