FG Pledges Partnership with Investors to Address Housing Deficit Vice President Yemi Osinbajo says the Federal Government will partner with genuine investors in the housing sector to bridge the country’s housing deficit. Osinbajo made the pledge in Abuja on Tuesday at the opening ceremony of a Housing Summit with the theme: “Addressing Housing Stock Deficit in Nigeria: A Holistic View.” The summit was organised by the Housing Circuit Magazine in collaboration with the Senate Committee on Land, Housing and Urban Development. The vice president, represented by Mr Suleiman Hassan, the Minister of State, Power, Works and Housing assured Nigerians that the government would continue to provide enabling environment for investment in the housing sector. He said that the Federal Government, through the Ministry of Power, Works and Housing was leading the drive on land and housing reform to ensure easy access to land for housing. According to him, the ministry has produced the revised and updated National Housing and Urban Development Policies as well as the National Building Code. He said the National Housing Programme of the Federal Government through the construction of houses across the country was a commitment to make significant and lasting changes in the sector. Osinbajo said the adoption of the National Housing Policy for sustainable housing delivery and the Housing Development Programme facilitated under the public private partnership were other interventions of the Federal Government. In his remark, Sen. Barnabas Gemade, the Chairman, Senate Committee on Housing said the theme of the summit was appropriate in view of the increased mass housing programme of the Federal Government. He said the upward review from N35 billion in 2016 to N40 billion in the 2017 budget was a clear demonstration of the Federal Government commitment to tackle housing challenges in the country. He pledged the commitment of his committee to fast track the reform and commercialization of the Federal Housing Authority through legislative process. Gemade said the delay in the release of budget resulting to frustration of work because of lack of funds and clear mortgage system were the major challenges facing the nation’s housing sector. “In addressing some of these challenges, we must take a critical look at the mortgage system. “We must also seek ways of how funds can be freed from certain sectors of the economy with much capital that can be deployed to the housing sector,” he said.   ...

FG Invests N100b On 25 Arterial Roads Nationwide- Fashola The Federal Government is reconstructing and rehabilitating 25 arterial roads with an aggressive plan to spend about N16.7b for each geopolitical zone across the country. The fund, which is a safe and low risk investment, is a Debt Management Office (DMO) Sovereign Sukuk (bond) with a 7-year tenor to the tune of N100b. The Minister of Power, Works and Housing, Babatunde Fashola, SAN, disclosed this today while addressing members of the Manufacturers Association of Nigeria (MAN) who paid him a courtesy call, in his office. The prioritized 25 road projects include the Dualisation of Ibadan-Ilorin Road, Suleja-Minna Road, Kano-Maiduguri Road, Lokoja-Benin Road, Rehabilitation of Enugu- Port-Hartcourt Expressway and the Construction of Kaduna –Eastern Bye- Pass, amongst others. The Minister also stated that the Ministry is in the process of re-introducing the tolling system on completed Federal Highways in order to sustain the maintenance of these roads. Earlier in his address, the President of MAN, Dr. Frank Udemba Jacobs, MON, commended the Minister for the novel idea in road financing, while specifically praising him for the on-going rehabilitation of Lagos-Ibadan, Onitsha- Enugu Expressways and other strategic roads across the country. He also expressed delight for the approval of N213b Nigerian Electricity Market Stabilization Facility (NEMSF) aimed at easing some of the challenges in the electricity industry value-chain. On a final note, he applauded the Federal Government for its recent measures at getting the economy out of recession and the provision of an enabling environment for business to thrive. In attendance at the meeting were the Minister of State II for Power, Works and Housing, Surv. Suleiman Hassan Zarma, the Permanent Secretary, Power Sector, Engr. Louis Edozien, Directors and Chief Executives from the Ministry. ...

FG Patners With Nigeria Liquefied Natural Gas To Build Bodo-Bonny Road With Bridges As Fashola Signs Tripartite Agreement The Federal Government through the Ministry of Power, Works and Housing has signed a tripartite agreement with the Nigeria Liquefied Natural Gas (NLNG) and Julius Berger Nigeria Plc (JBN) to build the Bodo-Bonny Road with Bridges across the Opobo Channel Routes 430 in Rivers State. The Honourable Minister of Power, Works & Housing, Babatunde Raji Fashola, SAN, on behalf of Government, signed the over 120 billion naira project awarded to Julius Berger Nigeria Plc (JBN) at the Ministry’s Headquarters in Abuja. Fashola stated that the Bodo-Bonny Bridge is a major infrastructural   project that linked Nigeria to where so much resources are produced, adding that the signing of the tripartite agreement signifies the commencement of construction work and government’s commitment to clean up, build up and repositioned the Niger Delta as a major contributor to Nation’s resources. The Minister further stated that, this is in fulfilment with the present Administration’s promise to deliver on critical infrastructural projects across the nation and put the economy back on the path of growth and development. Earlier in his remarks, the Managing Director of Nigeria Liquefied Natural Gas, Mr Tony Attah on behalf of Management and Staff of Nigeria LNG appreciated the Federal Government and the Minister for the signing of the tripartite agreement and the opportunity for the part-funding of the construction of the Bodo-Bonny Road project. Attah further stated that the provision of the road will no doubt expand the scope of economic opportunities and secure livelihoods for the rural and riverine communities. He added that the construction of Bodo-Bonny road will invariably usher the accomplishment of long held dream of connecting Bonny Island to the rest of Nigeria. On his part, the Managing Director of Julius Berger Nigeria Plc, Engr. Wolfgand Goetsch thanked the Federal Government and Nigeria LNG for the trust and confidence reposed on the company, assuring that the project will be completed within the time stipulated and in accordance to specification. The project which was first awarded in 1993, suffered series of delays and abandonments. The Ministry thereafter terminated the contract due to the dismal performance of the contractor and re-awarded the project to JBN which has proven experience in handling projects in difficult terrains of mangrove/swamp forest and creeks. The expected date of completion of Bodo-Bonny project is in 2019.   ...