Revenue Streams
Mass Housing For Nigerians – By Nigeria Government
The federal government is targeting a budget of over N800 million to provide affordable mass housing for Nigerians.
Mass Housing For Nigerians – According to a statement made available to a popular Newspaper, the Chief Executive Officer of Family Homes Funds (FHF), Femi Adewole, disclosed this at the fundraising/launching of Real Estate Developers Association of Nigeria house (REDAN), yesterday in Abuja.
Chief Executive Officer of Family Homes Funds (FHF), Femi Adewole – Mass Housing For Nigerians
Mr Adewole also said some of the locations for the housing project are Kaduna, Kano, Lagos and Delta States.
His comment comes barely a month after the special adviser to the president on economic matters, Adeyemi Dipeolu, said the federal government will, over the next five years, invest N500 billion to bridge the housing deficit through the FHF.
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He had also said the federal government is giving FHF N100 billion yearly for the next five years with anticipation that it is going to leverage one trillion naira of private resources.
The money, he explained, is essentially to help build social and affordable housing for Nigerians so that a person earning N30, 000 you can be able to buy houses that will be under the FHF.
In his speech, Mr Adewole hinted the government will not able to finance the project but it is seeking the support of the World Bank and Africa Development Bank (AFDB) and hoped that before the end of December over 200 houses would have been completed.
“We have to raise about N800 million to provide mass housing at the rate of N1.5 to N2 million. We are talking to a lot of development partners like the World Bank, African Development Bank (AFDB) to house over 500, 000 Nigerians,” he said.
On his part, the president of REDAN, Ugochukukwu Chime, stated that the house project will cost N500 million and is expected to be “partially completed and occupied in one year and fully completed, equipped and furnished in two years.”
He further appealed to the federal government through the instrumentality of the FHF, to simplify the requirements and participation for willing Nigerians.
“Concentration on demand induced supply based on market forces has not yielded the desired dividends “because of the value chain and transaction dynamics that will produce such effective linkage is none existent,” he said.“It is our responsibility to work with stakeholders in the house sector to ensure that we move away from the learning curve to a higher pedestal of project feasibility, execution and closure” stressing that “we seek to improve one’s capacity and knowledge.”
Author : Eunice Johnson, Abuja
The Nigeria Labour Congress has endorsed the planned bill on monthly house rent in the Federal Capital Territory introduced by the Senator representing Kogi West District, Smart Adeyemi.
The bill titled, ‘Advanced Rent (Residential Apartments, Office Spaces, etc.) Regulation Bill 2022,’ has gone through first reading at the Senate. It provides for a maximum of three months’ advance rent payment in the first instance and subsequent monthly payment for the rest of any tenancy lease in the FCT.
The NLC President, Ayuba Wabba, in a statement on Thursday, said the bill was in tandem with the rent regime in most parts of the world, including South Africa and Kenya.
The statement was titled, ‘The Nigeria Labour Congress throws its full weight behind the bill on monthly house rent in the FCT.
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The Kaduna state commissioner of budget and planning commission, alhaji Mohammed Sani Abdullahi, said the state is targeting n150bn as internally generated revenue in the next two years. The commissioner also said this could be achieved by expanding the revenue base without increasing tax in the state.
Abdullahi stated this in an interactive session with newsmen shortly after the state governor, malam nasir el-rufai, signed into law the state’s 2022 budget of n278.58bn at the sir kashim ibrahim government house, Kaduna.
The signed budget allocated n184.53bn to capital expenditure while n94.05bn to recurrent on a ratio of 66:37. Abdullahi noted that with 25 percent of the entire budget, education is getting the lion share while the health sector got 14 percent.
The commissioner also stated that the urban renewal projects in Kaduna, Zaria and kafanchan and other infrastructural projects were slated for completion in 2022. This is just as he disclosed that the state would be launching a social investment programme with over n4 billion provided for the vulnerable people across the 23 local government areas of the state.
This, the commissioner further stated, was to enable the government to intervene directly in the life of the people across the rural areas.
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Revenue Streams
Communication Ministry Gives Zero Allocation to Nipost Out of N137.2billion Capital Votes
Nigeria Postal Service ( NIPOST) , got zero allocation from N137.2billion capital votes earmarked for the Ministry of Communication and Digital Economy as well as the three Parastatals under it .
While in the proposed N160.593billion budget for the Ministry, NIGCOMSAT, NIPOST and National Identity Management Commission (NIMC), the Ministry got N85.231billion for capital votes, NIMC N46.533billion and NIGCOMSAT N5.440billion, NIPOST has zero allocation.
This was made known by the joint committee of the National Assembly on Communication during budget defense session with the Minister of Communication and Digital Economy, Dr Isa Ali Pantami and heads of agencies under the Ministry at the National Assembly on Thursday.
The Committee Chaired by Senator Oluremi Tinubu expressed dissatisfaction with the development sating it was wrong for the agency not to be given any capital vote for 2022 fiscal year. Senator Tinubu specifically asked the Minister whether the zero capital budget allocation proposed for NIPOST in 2022 was based on non – request by the agency or lack of fund.
The Committee she added, may have to appropriate something for the agency if there is no solid reason for the zero allocation. The Minister in his response said, he was not against some votes taken from the capital estimates of the Ministry for NIPOST.
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Orful mgt
December 12, 2018 at 10:27 am
How much for a year… Make we know first