Edo: Obaseki proceeds on post-tenure medical vacation

The former Edo State Governor, Godwin Obaseki, has proceeded on a medical vacation.

Edo: Obaseki proceeds on post-tenure medical vacation

24-hour power supply: FG seeks private sector support for $10bn funding gap

The Federal Government of Nigeria has stated that it needs a $10 billion investment through Public-Private Partnerships (PPP) over the next five to ten years to achieve a 24-hour power supply nationwide.

Minister of Power Adebayo Adelabu disclosed this during a courtesy visit from Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC).

Adelabu emphasized that the government alone cannot afford the $10 billion investment due to other pressing funding needs.

He highlighted the importance of engaging the private sector while maintaining government interests, stating, “The government cannot do it alone… we need to do this in collaboration with the private sector, and the best way is through concession.”

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Dr. Ewalefoh echoed this sentiment, noting that a PPP approach is crucial to enhancing Nigeria’s power sector, which is essential for the nation’s economic development.

He explained that addressing the sector’s challenges requires funding beyond what the government can provide alone. The ICRC aims to support private sector investment through its regulatory processes to meet the $10 billion target, ultimately improving regular electricity access.

Ewalefoh praised the minister’s expertise in the sector and President Bola Tinubu’s choice to appoint him.

He also mentioned the ICRC’s 6-point policy directive designed to streamline PPP processes, adding that the commission is committed to maintaining strict regulatory standards to ensure capable investment partners without delays.

24-hour power supply: FG seeks private sector support for $10bn funding gap

Lagos govt revokes allocations of unoccupied housing units

By Dada Jackson

Lagos State Government has revoked housing units allocated to subscribers but unoccupied for over two years.

The unoccupied units are said to be constituting nuisance in some of the housing estates due to unkept premises, poor maintenance schedule and other negative consequences.

This was disclosed by the state Commissioner for Housing, Hon. Moruf Akinderu-Fatai, during a visit to enforce the directive of Governor Babajide Sanwo-Olu at one of the Lagos State housing estates Sangotedo, Lekki.

He said the revocation was a directive of the state governor based on empirical evidences that most allottees kept the housing units under lock and key while the state continued to feel the pressure of prospective subscribers who need them.

The commissioner inspected some of the sealed blocks and flats and stated that the exercise was done irrespective of whether the allottee made full payment or applied under the Rent-To-Own scheme.

Hon Akinderu-Fatai Saïd, “Lagos State Government Housing Units are meant for those who actually need them and not speculators.”

He stressed that the various initiatives of the Sanwo-Olu-led administration to increase the housing stock of the state would not be sacrificed for the interest of the privileged few.

The Commissioner said, “Applying for a Rent-To-Own scheme presupposes the allottee is in desperate need of accommodation. Why should such allotted flats be left unoccupied after two years?”

He reiterated that the state government would not allow its investment and state-of-the-art housing infrastructure to rot away while genuine home seekers lament.

The commissioner reaffirmed that the ministry “will refund such allottees and reallocate the housing units to other Lagosians who are ready to put the houses to use immediately”.

The commissioner stated that the rule in the letter of allocation given to allottees indicates “allocated housing estate flats should be occupied three months after allocation and keys released to beneficiaries”.

The estates have shared facilities that should be maintained with the contribution of all allottees.

In the last five years the administration of Mr Babajide Sanwo-Olu has commissioned 21 housing estates through direct intervention and public private partnerships.

The housing estates spread across the state are provided with infrastructure facilities for decent living.