Business

FG opens portal for sale of 5,000 housing units

Published

3 years ago

November 13, 2021

Minister of Works and Housing, Mr. Babatunde Fashola

Over 5,000 houses are up for sale across 34 states of the federation built by the Federal Government, Minister of Works and Housing, Mr. Babatunde Fashola, has said.
He said Nigerians could now apply for the houses built under the current Federal Government’s National Housing Programme (NHP) after the launch of the portal on Friday.
He spoke at the formal launch of the portal, https:// nhp.worksandhousing.gov.ng.
According to him, the available 5,000 plus housing units range from 1, 2 to 3 bedroom bungalows and blocks of flats in any location of their choice.
The ceremony was attended by prominent stakeholders and media executives including the President, Nigeria Guild of Editors, Mr. Mustapha Isah. Fashola said the decision by the ministry to sell the available houses online was to bring credibility to the exercise and reduce human intervention as well as give all categories of buyers a level playing field.
The minister said, “We converge here just to introduce a portal on which the National Housing Programme pilot will be offered for sale to the public. What that means is that we will not be selling printed forms, the forms are online and this allows for more openness, limits human intervention and any disposition to any underhand practice”.

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Clarifying that the decision to adopt online sale of forms and limit human intervention was not an indictment of the staff, he added, “It is just to make the system more accountable and people seeing credibility if they win and if they are not successful they will equally know that the system has at least given them a fair chance”.
Fashola, who described the launch of the portal as “the end game of our economic objective”, explained that the government did not just set out to build houses, adding that the project has served many purposes, the first of which was to test what sort of houses Nigerians would like to live in so as to make policies to guide its agencies and parastatals, as well as other stakeholders, to build what could be acceptable in the markets.
“We are the policy head of those parastatals like the Federal Housing Authority (FHA), the Federal Mortgage Bank of Nigeria (FMBN) and so on. We are saying that the National Housing Programme had not succeeded in the past and some of the houses built then still remain empty. So we conducted a national survey across the zones just to find out what is acceptable”, the Minister said.
The findings, he said, were that while in the Northern part of the country there was preference for bungalow and large expanse of land which encouraged building horizontally, in the Southern part, there seemed to be acceptance for blocks of flats and lack of space which made building vertically necessary.
Emphasizing that the current National Housing Programme is a pilot or demonstration scheme meant, among others, to galvanize private sector participation, Fashola explained further, “We applied for land from the states and we set out to do a demonstration or a pilot programme because we then wanted to validate what we saw and build a pilot scheme”.
“So as at today we have built 5,000 plus units in different stages of completion. We have done in Phase 1 and we have done in Phase 2 and some have started in Phase 3”, the Minister reiterated adding that the other purpose the scheme has served was to fulfil part of the objectives of the administration’s Economic Recovery and Growth Plan (ERGP).
He added, “It was also a way to implement our Economic Recovery and Growth Plan (ERGP) because as at the time we conceived this programme, the country was in recession”, expressing delight that it has fulfilled that objective because over 1,000 contractors were engaged on the building sites; “businesses owned by Nigerians and Nigerian contractors”.
Pointing out that no foreign contractor was engaged in the project, Fashola added that it was not only an opportunity for nation building but an opportunity for the contractors to sustain their staff.
In his goodwill message after the launch, President of the Nigerian Guild of Editors (NGE), Mr. Mustapha Isah, commended the Federal Government for its commitment to housing delivery. He also commended the Minister for the innovations he has brought to bear at the national level, which, according to him, was a replication of his development initiatives as Governor in Lagos State.
Permanent Secretary, Mr. Babangida Hussaini commended President Buhari and the Minister for their commitment to programmes and projects that promote prosperity for the citizens and grow the nation’s economy.
Aside from the NGE president, other media personalities present are the Special Assistant, Digital/New Media to President Muhammadu Buhari, Mr. Tolu Ogunlesi, the Secretary General of the NGE and Editor, Nation’s Capital, THISDAY Newspaper Group, Mr. Iyobosa Uwugiaren,

Auto

NADDC DG hails Kojo Motors for establishing CNG conversion centre in Owerri

Published

1 day ago

March 21, 2025

Trends Admin

NADDC DG hails Kojo Motors for establishing CNG conversion centre in Owerri

Kojo Motors has partnered the National Automotive Design and Development Council (NADDC) in setting up the vehicle Compressed Natural Gas conversion centre in Owerri, lmo State.

Director-General of the NADDC, Joseph Osanipin, during an empowerment and awareness summit on Wednesday, March 19, 2025, commended the auto firm for the monumental project.

“Today, we are gathered here for Compressed Natural Gas (CNG) Empowerment and Awareness Summit 2025 with the theme ‘Building a youth-based nation through cleaner energy’,” he said.

Osanipin said that the the purpose of the summit was to create awareness and sensitize the public to safety, standards and regulation in the use of the CNG as a better alternative source of energy for mobility.

NADDC, he said, was equipping technicians with the knowledge, skills and competencies required to safely and efficiently convert vehicles to run on CNG.

“The Council is a parastatal of the Federal Government under the Federal Ministry of Industry, Trade and Investment,” he added.

“It has the regulatory oversight on the Nigerian Automotive Industry to initiate, recommend, supervise and regulate policies and programmes for locally manufactured vehicles and components in Nigeria.

The NADDC boss noted that the Council had worked tirelessly to ensure the survival and growth of this sector with a view to enhancing its contribution to the national economy.

As part of the CNG conversion programme, 60 technicians will be receiving hands-on training in converting vehicles to run on CNG which would run for five days from the March 17 to 21,2025.

Osanipin emphasized the importance of using certified conversion kits and specialized workshops to ensure safety during the process.

“The cylinders used in CNG vehicles are fortified, making them safer than traditional vehicle fuel tanks,” he said.

Also speaking during the event, Professor Anoka Njan, representative of the Minister of Industry Trade and Investment, praised the NADDC and Kojo Motors efforts, stating that the ministry fully supported the initiative as part of broader efforts to alleviate challenges in the auto industry and empower the youth.

Imo State Commissioner for Youth Development, Dr. Emeka Mandela Ukaegbu, who spoke at the summit on behalf of Governor Hope Uzodinma, emphasised the immense potential of the CNG in easing Nigeria’s transportation challenges and improving the economy.

“CNG offers a safer, cleaner, and cheaper alternative to the hardships many face in the country,” Dr. Madela said.

The administration is partnering with NADDC and automotive industry bodies to establish conversion workshops and CNG refilling stations across Imo State, ensuring that the state plays a key role in this important shift toward greener energy solutions.

The event marks a significant step in NADDC’s ongoing efforts to transform Nigeria’s automotive industry, making it more sustainable while creating new opportunities for skilled technicians and local communities.

Chinedu Oguegbu, Managing Director of OMAA, which is the vehicle brand promoting the petrol-powered to CNG conversion project, highlighted the economic benefits of running vehicles on CNG instead of petrol.

He listed the economic advantages to include savings up to 60 percent in the cost of fuel relative to dirtier options like diesel and petrol.

According to him, there is up to 90 percent reduction in knocks and carbon emission, and it is found to be healthier, cleaner and more environmentally friendly.

Besides savings in foreign exchange (FX) with abundance of gas locally, there is also massive resources in-country over 203 tcf of proven reserves that requires no refining and relatively lower investment for processing.

Nigeria has an estimated 15-20 million vehicles in operation that can be converted to dual-fuel or bi-fuel.

The OMAA boss reiterated the crucial need to provide an alternative to existing fuel system with the abundance of CNG as an option.

Delivering his goodwill message, Chino Ogwumike, the National Sales Manager at Kojo Motors, thanked the DG of NADDC for partnering with Kojo in this laudable project in Owerri, the heartland of the South-East of Nigeria and the government of Imo State for accepting to provide the land for building the CNG hub in the state capital.

Ogwumike stated that the flourishing automotive dealership with branches spread across the country under the visionary leadership of the founder and Executive Chairman, Ikenna Oguegbu, is strongly committed to contributing its quota towards the progress and development of Nigeria’s automotive sector and the economy.

Business

Binance delists five cryptocurrencies

Published

1 day ago

March 21, 2025

Trends Admin

Binance delists five cryptocurrencies

Binance, the world’s largest cryptocurrency exchange, has announced the delisting of five digital assets after a routine review of their adherence to industry standards.

According to a statement released by Binance, the affected cryptocurrencies include Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), COMBO (COMBO), and Linear Finance (LINA).

The decision was based on several key factors, including trading volume, security, liquidity, the commitment of project teams, and compliance with regulatory requirements.

Key delisting details and user guidelines

Binance provided additional clarity on how the delisting process will impact its users:

Binance Futures: Positions for AERGO, LINA, and COMBO will be automatically closed and settled by March 27, 2025, at 9:00 a.m. UTC.
Binance Simple Earn & Investment Products: The affected tokens will no longer be available across these services after March 27, 2025.
Binance Convert & Trading Bots: Support for the delisted tokens will cease by March 28, 2025.

Binance also mentioned that in some instances, delisted tokens might be converted into stablecoins on behalf of users after delivery. However, the exchange clarified that this would only apply if explicitly announced.

Looking ahead, Binance revealed plans to launch a Vote to Delist feature, enabling the public to suggest assets for delisting in the future. However, the tokens mentioned in this announcement will not be eligible for the feature.

Binance delists five cryptocurrencies

Business

Air Peace slashes Nigeria-London fare by N600,000

Published

2 days ago

March 20, 2025

Trends Admin

Air Peace slashes Nigeria-London fare by N600,000

Air Peace has announced a ₦600,000 reduction in its Nigeria-London airfare for all travelers flying from Nigeria.

In a statement released on Wednesday in Lagos, the airline’s Head of Corporate Communications, Dr. Ejike Ndiulo, stated that the discount is part of Air Peace’s latest promo offer.

Passengers departing from any Nigerian city to London can enjoy significant savings, along with an exclusive one-free extra luggage allowance.