FG Reviews Partnership Policy For Housing

The Federal Government of Nigeria is working on reviewing the Public-Private Partnership arrangement for housing delivery.

The Supervising Minister of Housing, Land and Urban Development, Musa Sada, at a media briefing, explained that the Public-Private Partnership would need to be improved upon. He said that the Federal Government was focusing on making housing affordable in Nigeria.

Sada lamented the high cost of mortgage system in the country, which encouraged inflated cost for houses.

“People have not been able to afford houses in Nigeria because it is a cash and carry situation. Nowhere in the world do you acquire houses through cash and carry, even in African country.

“What happen is that you get a mortgage system whereby you will be able to own a house and pay for it sometimes for over 15 to 20 years.

“There should be an arrangement whereby, as long as you are servicing your mortgage, you will have your house until you finish the payment,” Mr Sada.

He was, however, optimistic that the newly established Nigerian Mortgage Refinancing Company would reduce mortgage by bringing in more finance for housing in the country.

At the presidential launch of the company in January, President Goodluck Jonathan decried the short tenure of loans to Nigerians by commercial and mortgage institutions.

He said that he would do all in his powers to alleviate the constraints to rapid housing development in the country.

State governments were urged to improve land registration systems in their states to enable Nigerians have access to land titles. since the call, some state government have started the issuance of electronic Certificate of Occupancy to land owners.

FEC Approves N240 Million Worth Of Vehicles For SURE-P Officials

The Federal Executive Council has approved the procurement of 44 Innoson Motors (IVM) G5 jeeps for the 37 chairmen of the State and FCT Coordination and Implementation Committee of the Community Services, Women and Youth Employment Projects of SURE-P.

Minister of Labour, Emeka Wogu made this known to journalists at the end of the council meeting presided over by President Goodluck Jonathan.

The Labour minister said the vehicle will enhance the monitoring and supervision of the community services, women and youths employment activities at the state and local government levels nationwide.

The approval which has a budgetary provision in the 2013 Appropriation is in line with the federal government’s policy to patronize locally manufactured vehicles through direct procurement method and will cost N240.2million.

Also, the FEC has approved a draft Nigerian Metallurgical Industry Bill, 2014 for passage to the National Assembly.

The Minister for Mines and Steel Development, Mr Musa Sada, said the objective of the bill amongst others, include regulating the operations of all metallurgical plants in Nigeria through ensuring that metallurgical products and raw materials being manufactured or imported into the country meet set standards.

Jonathan Charges Experts To Identify Challenges In Solid Mineral Sector

President Goodluck Jonathan has charged key players in the solid mineral sector to identify factors responsible for the slow growth and development of the sector.

Wondering why a nation with over 44 varieties of minerals in more than 500 locations should not tap the full benefits of its blessings,President Jonathan further promised to address the factors once and for all.

The president made this known during a brainstorming session at a one-day workshop of solid mineral sector in the Presidential Villa.

He said the solid minerals sector must be made to create wealth for the nation promising that about 30 percent of power generation can come from coal alone. He also decried the orderliness in the sector.

The Minister of Finance, Dr. Ngozi Okonjo-Iweala and her solid mineral and steel development counterpart, Mr. Musa Sada noted that the sector used to be a money spinner in the country before that advent of oil,he however wondered where the country got it wrong and called for a rethink.

The participants were asked to dwell less on issues and challenges, but to come up with concrete and practical solutions that government will begin to implement, at the end of the workshop.

The presidency charged the participants on the need to use the solid mineral sector in Nigeria to generate jobs, industrialisation and wealth creation.

The session, which was organized by the Ministry of Solid Mineral and Steel Development alongside the Ministry of Finance, was attended by key players in the sector.

FG Aims To Boost Mining Sector, Calls For Investment

The Federal Government is putting in place strategies to encourage investments in the nation’s mining sector.

Specifically, the Nigeria minerals and mining act 2007 and the minerals and metal policy are being reformed to provide the necessary legal framework for private sector investment in the sector.

Speaking at the inauguration of the solid minerals development fund, the minister of mines and steel development, Architect Musa Sada explained that the reform in the sector will provide an alternative to revenue generated from oil and gas.

The chairman of the board, Mr Utsu Adie said that the solid minerals sector contributed 54 billion naira to the country’s gross domestic product between 2007 and 2010.