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Akwa Ibom Lawmaker Donates Housing Estate To Constituents

In what could be considered a unique deviation from the common political empowerment practices of giving cars and cash gifts, Engr. Otobong Ndem, the lawmaker representing Mkpat Enin state constituency in the Akwa Ibom State House of Assembly, has donated a mini-housing estate to members of his constituency.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

The 620-square metre per plot 20-unit housing estate, right in the heart of Uyo capital city, is indeed one of its kind in the history of political empowerment in the state.

Speaking with newsmen in Uyo at the weekend as part of activities to mark his mega constituency briefing/empowerment slated for April 18 2018, the lawmaker said 20 members of his constituency would on Wednesday receive land allocation papers.


He explained that two beneficiaries of the scheme had already moved into their new homes, while many others have been mobilized to site and were at advanced stages of completion. Others who were yet to be allocated, would, according to Ndem, be handed the land documents during the empowerment programme.

His words “The housing estate which situates in Uyo, the Akwa Ibom State capital (Aka- Etinan – Mbiokporo road, opposite Jehovah Witnesses Assembly Hall), measures 620 square metres per plot of land. The mini-housing scheme is my own way of providing one of the basic necessities of man, which is shelter, within the state capital to some members of my constituency who were yet to have houses of their own in Uyo.”


He explained that under the housing scheme segment of his empowerment scheme, beneficiaries were allocated a plot of land in the estate to build any house of their choice, while he would assist them in the building construction with cement and roofing materials.

On the criteria for the selection of beneficiaries of his empowerment schemes, Ndem said the choice of beneficiaries were usually thrown to ward and community leaders within the 14 wards in Mkpat Enin to ensure that no deserving individual was left out.

Providing a feed forward to his empowerment programme, the House of Assembly Services Committee Chairman explained that in addition to the housing scheme, several of his constituency members would smile home with buses, cars, starter packs, financial aid, among other empowerment packages.

Presenting a scorecard of his representation, Ndem reported to have so far sponsored three bills and no fewer than six life touching motions which were debated on and acted upon.

He listed some of his motions to include; “the Motion on Death Fangs from Consumption of Illicit Drinks popularly known as Kaikai (Ethanol and Methanol); Motion for the Rehabilitation of Cottage Hospitals in Asong, Ikot Abia and Ikot Ekpaw, all in Mkpat Enin Local Government Area; Motion on Community Based Budgeting (Participation of People in Budgeting for Creation of Community Based/People Oriented Budget); and Motion on Checking Roadside Markets and Trading on Highways in the State to Safeguard Lives; among others.

Some of his bills included The Akwa Ibom State Investors/Investments Protection Bill, 2016, The Akwa Ibom, State Economy Strategy Bill, 2016, which have both passed the second reading and the Akwa Ibom State Urban and Regional Planning Bill 2017.

He said he had trained hundreds of constituent members, most of whom he said will be given starter packs during the empowerment programme. He however appealed to those who have not been captured in the first two phases of his empowerment programmes to forward their names to his constancy office, as he is currently planning a third phase of empowerment in the next two months and the fourth phase before the end of his first tenure in office.

He listed some of his interventions in Mkpat Enin to include; the provision of a solar powered boreholes in Ikot Ekpaw, Ukam and Ikot Akata, facilitate the provision of transformers in Ikot Akata, Nya Odiong and Ikot Abasi-ufon, reactivation of electricity in Ikot Abasi Akpan, Ekpuk, Ikot Ekpaw and Nya Diong, and construction of a befitting Unity Hall in Ukam.

Operators cut pension investment in real estate by N30bn

Despite a steady increase recorded in the total assets under the Contributory Pension Scheme, the Pension Fund Administrators reduced investment of the funds in real estate by N30.99bn between December 2016 and December 2017.

Statistics obtained from the National Pension Commission revealed that the total amount invested in real estate fell from N234.34bn at the end of 2016 to N203.35bn in 2017, despite recording a rise in pension assets from N6.15tn in 2016 to N7.5tn at the end of 2017.

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According to the commission, as of the end of 2017, N5.29tn, which is about 70.4 per cent of the funds, was invested in the Federal Government of Nigeria’s bonds, which include treasury bills, agency bonds, sukuk bonds and green bonds.

Eight per cent of the money, totalling N672.2bn, was also invested in domestic ordinary shares.

The figures showed that N152.2bn amounting about two per cent of the funds was invested in state government securities.

Last year, the commission reviewed the regulations of investment of pension funds. And in the reviewed regulations, PenCom stated that the PFAs must offer a multi-fund structure for the Retirement Savings Account and that there would be a transition period of six months, effective from the commencement date of the multi-fund structure for all the PFAs to restructure their respective portfolios.

It stated, “The multi-fund structure shall comprise Fund I, Fund II, Fund III, and Fund IV (retiree fund). Funds I, II, III, and IV shall however differ, according to their overall exposure to variable income instruments.”

PenCom also said it would raise the pensions of retirees opting for programmed withdrawal and were being paid by the Pension Fund Administrators this month.

The Acting Director-General, National Pension Commission, Aisha Dahir-Umar, said this when the commission submitted a memorandum to the Senate Committee on Establishment and Public Service at the public hearing on a bill for an Act to amend the Pension Reform Act, 2014, to provide for definite percentage a retiree could withdraw from the RSA and for other related matters.

She, however, stated that some retirees would not be entitled to the increase due to low balances in their RSAs.

Dahir-Umar said, “Indeed, the commission has just concluded an exercise to increase the monthly pension of all retirees on programmed withdrawal due to the income earned on investing their pension assets.

“The outcome of this exercise showed that 30 per cent of the retirees would not benefit from the increase due to insignificant income earned on the small balances in their respective RSAs.”

Nike Popoola

NAE to bridge gap between inventors, investors

The Nigerian Academy of Engineering has said that it has commenced moves to create a suitable platform for investors and inventors to meet for economic benefits.

The President, NAE, Mrs. Joanna Maduka, said this at the induction of the Founder/Group Managing Director of Arco Group Plc, Alfred Okoigun, as an honorary fellow of the academy.

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She explained that many investors in the country did not have adequate access to inventors.

This, she said, could discourage innovators and indigenous companies in need of investors to outshine their foreign counterparts.

“We need investors who are ready to invest in engineering innovations and impact the economy. We have many inspiring engineering innovations and a lot are still coming up. What we are doing at present is to initiate programmes that will serve as a link between them,” she said.

Maduka urged the inductee to ensure the growth of the engineering profession, adding that the NAE expected more investments in the profession from him.

“It is a great honour that he (Okoigun) agreed to come into the academy. I am sure that he is going to make great contributions. We hope that he will come in to drive innovations,” she added.

Speaking on ‘Engineering Innovation and Last-Mile Development: Towards a Synergy between Investors and Research’, a former Vice Chancellor of the University of Lagos, Prof. Oye Ibidapo-Obe, challenged the NAE to be concerned about the quality of inventions.

He said, “Investors are concerned about the quality of inventions and want better returns. While both investors and innovators are concerned about the future of the country, there is a need for an intervention. I think this is where the NAE comes in.

“University researches must be critically looked into and the fundamental difference between investors and inventors must be closed.”

The Group Managing Director, Nigerian National Petroleum Corporation, Maikanti Baru, described the inductee as a remarkable, astute and passionate entrepreneur.

On his part, Okoigun described the fellowship as an encouragement, adding that it would encourage him to be more supportive of the engineering profession.

Abia to improve housing provision using Lagos model

The Abia State Government is set to improve housing provision in the state using the Lagos State Government’s model.

Based on this, the Abia State Ministry Commissioner for Housing, Mr. James Okpara, paid his Lagos counterpart, Gbolahan Lawal, a courtesy visit recently.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

Okpara said his team came to learn from the housing projects of the Lagos State Government with a view to replicating some in Abia.

He stated that when he became the commissioner last year, he found out that the state did not have a housing policy.

“I promised that even if it is the only thing I do before leaving office, it must be done. The housing policy is not being taken very seriously in many states but Lagos is the most advanced state in the country and we know that we can get the best from here; so, we want to learn how the state is doing it and succeeding,” Okpara stated.

Lawal told the delegation that Lagos had created programmes on housing to bridge the close to three million deficit.

“We need to build about 187,500 houses annually to bridge the three million housing gap in the state. As of today, we are on 17 sites working on 6,000 housing units. We are also partnering the private sector because we know that working with the players will help us bridge the gap,” he said.

Lawal stated that not too long ago, a delegation from Kano State also came for a similar visit, adding that he was glad that other state governments found Lagos’ housing initiative attractive enough to replicate in their states.

A presentation on the various housing programmes in Lagos State was made to the delegation, followed by a tour of one of the project sites.

“The policy is good, we couldn’t expect any less from Lagos State being the centre of excellence; what we learnt will go a long way in helping us with our vision. We will take part of it, Lagos and Abia are not the same, but there are some parameters that will be the same; so, we will take those that suit the state,” Okpara said at the end of the meeting.

NSE plans infrastructure development in rural areas

Maureen Ihua-Maduenyi

The Nigerian Society of Engineers has disclosed plans to take the profession to rural communities under an initiative known as Community Engineering Project.

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The NSE President, Mr. Adekunle Mokuolu, said the CEP, expected to be done at an estimated cost of N2bn, involved massive deployment of professional manpower in rural communities across the country.

Mokuolu, who spoke at the 25th anniversary of the NSE Ikeja Branch, said a transparent process of selecting six remote villages, which would enjoy the status of pilot in the CEP, one from each of the geopolitical zones of the country, had commenced.

He added, “The focus here involves massive deployment of our professional manpower in rural communities across Nigeria. The objective of the project is to provide basic engineering infrastructure through voluntary service; infrastructure, which includes rural roads, water projects, school buildings, electrification, provision of farming implements, building of livestock ranches and poultries; and such other services that are guaranteed to foster unity and progress in our country.

“The projects are designed to be a collaborative venture between the NSE, local governments and the traditional institutions across the country. At my inauguration, I shared my vision and made commitment to work with our colleagues with the focus on corporate social responsibility; through this means, we will impact the citizenry positively.”

According to him, by the initiative, the NSE has undertaken to assist the government in bringing growth and improvement to the lives of citizens in the rural areas.

“We are optimistic that funding of the projects will be achieved through donations from public spirited individuals, corporate organisations, international donors and friends of engineering. I expect our colleagues to voluntarily provide expertise to make the project a success,” Mokuolu added.

The Honorary Adviser to the President and Chief Executive Officer, Dangote Group, Mr. Joseph Makoju, stated that the having recently exited recession, the Nigerian economy was still undergoing transition and needed to be rapidly diversified.

Makoju, who was represented by the Senior General Manager, Dangote Projects, Mr. AwaluAliu, as the guest speaker at the anniversary, said there was a need to deepen and expand manufacturing, agricultural and mining sectors as a first step.

He said, “While one must acknowledge the efforts of the Federal Government and some state governments to diversify and expand the productive base of the economy, there is a very real concern that the current oil price recovery, as welcome as it is, could lure us to slip into a state of lethargy and complacency.

“We might once again fail to take difficult decisions to address some of the root causes of our economic malaise – the very issues that got us into recession in the first place. As individuals and as a professional group, we need to harp on this point and ensure that government at all levels stay focused on their quest to industrialise the economy and grow our non-oil exports.”

Makoju added that no nation had successfully transited from developing to newly industrialised status without growing its manufacturing base.

He stated, “It is sometimes easy to forget how far behind we have slipped as a nation unless we make painful comparisons with nations that were once considered our peers. For instance, the industrial sectors in Malaysia and Thailand contribute over 30 per cent to Gross Domestic Product and over 70 per cent to exports.

“In stark contrast, Nigeria, a country that is a lot more endowed, has an industrial sector that contributes less than 10 per cent to the GDP and its total non-oil exports accounts for less than four per cent of aggregate export revenue.”

Others, who spoke at the event, lamented the marginalisation of engineering professionals in the country.

According to them, Nigerian engineers are being relegated to the background as the government and some individuals give priority to foreigners.

The Chairman, Daar Communications Plc, Chief Raymond Dokpesi, said indigenous engineers had not been given their rightful place in the society.

Dokpesi, who is a marine engineer, noted that the problem had been politicised.

He added, “Recently, the Minister of Science and Technology attempted to deal with part of the problem. The political will to see it implemented is what this branch and every engineer must pursue.

“There must be restriction on lesser qualified technicians from abroad and on any person coming into the country claiming to be an engineer without proper training or experience.”

The Managing Director, Nigerian Airspace Management Agency, Capt. Fola Akinkuotu, said the war against quackery in engineering would not be easy to win, and urged all engineers to see it as a challenge.

“Whatever it takes, let us show that we can do it, even if we have to fight to get it done. We will not move forward by just telling them that we are being marginalised,” he stated.

The President, Council for the Regulation of Engineering in Nigeria, Mr. Kashim Ali, commended the branch members for their contributions to national development.

The NSE, Ikeja Branch Chairman, Mr. Akintayo Akintola, said the branch would sustain the legacy left by the past leaders of the society.

‘How foreign capital aids Nigeria’s commercial real estate rebound’

Notwithstanding that real estate recovery has taken time to gain traction, foreigners are fueling capital injection in Nigeria and other Sub-Saharan Africa countries, with South Africa and United Kingdom investors leading the way.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA
Although, an oversupply of high-end property and limited access to finance have underpinned the market’s slow bounce back, prospects are looking up for the second quarter of the year.

According to a report from international brokerage, Knight Frank, the persuasive long-term investment case for Sub-Saharan Africa has drawn increased numbers of international investors to investigate opportunities within the region over recent years, albeit transactional activity has been restricted by the limited availability of investment- grade stock and the opacity of the markets outside of South Africa.


Interest in the sector remains heightened, despite the weakening of some Sub-Saharan economies over the last two years.

Two years ago, Investors’ appetite for Sub-Saharan real estate was highlighted by the announcement that the UK-based emerging markets specialist Actis had raised US$500 million for its third African property fund, Actis Africa Real Estate Fund 3.

This is the largest amount that has ever been raised for a private real estate fund focused on Sub-Saharan Africa outside South Africa, and it included a commitment from the Government of Singapore Investment Corporation (GIC).

The report revealed that Actis’ two previous funds, closed in 2006 and 2012, have been involved with some of Sub-Saharan Africa’s most modern commercial property developments, in countries such as Ghana, Kenya, Nigeria and Tanzania.

In recent years, Actis has exited from many of its first wave of investments, selling its interests in assets including the Accra Mall, Nairobi Business Park and Ikeja City Mall.

When Actis launched its first Sub-Saharan Africa fund over a decade ago, it was a pioneer entering a market largely untapped by global property funds.

However, its third fund will enter a significantly more crowded marketplace as a series of property investment vehicles have emerged in recent years targeting Sub-Saharan real estate.

Many of these are South African- controlled funds, albeit often registered or listed offshore in Mauritius.

A prominent example is RMB Westport, which was created in 2008 as a joint venture between Rand Merchant Bank and the Westport Property Group.

Its development projects were the Wings Office Complex in Lagos and Muxima Shopping Centre in Luanda. RMB Westport’s second fund, which has a target of raising US$450 million, has attracted commitments from both GIC and the UK investor Grosvenor.

Other real estate investment vehicles to have been launched in the last two years include a pan-African joint venture created by Growthpoint and Investec, which has the target of raising US$500 million.

Momentum Global Investment Management and Eris Property Group have also formed a joint venture, the US$250 million Momentum Africa Real Estate Fund, which has allocated capital to development projects in Ghana and Nigeria.

The Anglo-South African group Old Mutual signalled its intention to expand its African footprint by announcing a partnership with the Nigerian Sovereign Investment Authority.

This venture aims to raise US$500 million for a real estate fund, in addition to a US$200 million agriculture investment vehicle.

A further noteworthy event was the creation of Mara Delta, a pan- African real estate fund formed from the merger of Delta Africa and Mara Diversified Property Holdings.

During 2016, Mara Delta was one of the most acquisitive buyers of real estate across the region, growing a portfolio which currently includes assets in Kenya, Mauritius, Morocco, Mozambique and Zambia.

An estate surveyor and valuer, Mr. Akin Olawore who doubles as the president of Nigerian-British Chamber of Commerce (NBCC), told The Guardian that most of the commercial buildings standing today were financed and built by such investors.

“These are part of the sums that make up Foreign Direct Investments (FDI) to Nigeria, which is highest in the last five years in SSA.

“Statistics show that we have opportunities in those sectors and also have the strength of bringing in anchor tenants.

Also private equities need big assets to finance to be lucrative, a number of these assets may be bundled into REITS package to create exit for the investors to take over. “

A past Chairman of the Nigerian Institution of Estate Surveyors & Valuers (NIESV), Lagos State Branch, Mr. Stephen Jagun said that the returns are too juicy to be ignored.

“Get the right location and deliver a super product; and if possible pre-let or pre-sale to target audience. We also have the huge population to our advantage.”

For Mrs. Erejuwa Gbadebo, Chief Executive Officer, International Real Estate Partners (IREP) Nigeria said the foreign investors have not revived the real estate.

FG declares state of emergency in water, sanitation sector

In a bid to revitalize the deplorable situation of the Water Supply, Sanitation and Hygiene (WASH) Sector, the Federal Government has declared state of emergency in the sector.
The memorandum for National WASH Action Plan was approved during the last the Federal Executive Council (FEC) meeting.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

The Minister of Water Resources, Suleiman Adamu, an engineer had told the council that the WASH sector is currently in crisis situation and requires urgent action for its revitalization.


The Minister explained that the action plan would set out a 13-year revitalization strategy for WASH sector including 18 months emergency phase and five years recovery plan adding that it would provide for concrete actions to be taken by both Federal and State Governments under five components comprising governance, sustainability, funding, financing and monitoring and evaluation.

According to a statement signed by the Director Press in the ministry, Mrs Kenechukwu Offie, the minister explained that the Action Plan includes the establishment of a National WASH Fund as a tool for the promotion of renewed Federal-State partnership and increased financial investment for WASH so as to measure up to regional level of funding.

Adamu said the National WASH Action Plan would change the worrisome situation and reverse the ugly trend while the declaration of state of emergency on the sector will change the narrative.
He said following the national declaration, States and Local Governments are expected to follow suit, through increasing their political and financial commitment to the WASH Sector.

He then commended the Federal Government for providing the leadership and demonstrating the necessary political will at the highest level by declaring state of emergency in the WASH Sector.

Speaking further, the Minister said that the ministry has made significant efforts through National retreats with critical stakeholders from the federal, state governments, legislators and development partners that resulted in the development of a National WASH Action Plan.

FCTA To Partner Chams On Abuja ICT Smart City Project

The minister of the Federal Capital Territory Administration, FCTA, Muhammad Musa Bello, has said the FCTA is working on arrangement to partner with Chams Plc, a leading provider of identity management and intelligent business solutions on the Abuja Smart City project.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

Speaking during a presentation by Chams Plc in Abuja recently, the chief of staff, FCTA, Mr Bashir Mai-Bornu, who represented the minister at the event, said the FCTA would like to engage the company in providing ICT solutions in the areas of education and health. He said: ‘‘Technology is the future and anybody that ignores it does so it at his own peril. The FCT requires a lot of ICT solutions because of the services it provides.

We believe with what Chams has done in the country in its 33 years of existence, it can play a big role in making Abuja a smart city.’’ In his response, the group managing director, Chams, Mr Femi Williams, said the company has a lot of creative ways of solving problems.

According to him, the company is good at understanding challenges and can generate Internally Generated Revenue (IGR) for the FCTA from any area with different strategies. In his presentation, Williams said the company has provided intelligent business solutions for many clients which include: Osun and Anambra state governments, Institute of Chartered Accountants of Nigeria, ICAN, Nigerian Communications Commission, NCC, Chartered Institute of Taxation of Nigeria, CITN, among others.

‘‘Most of our solutions are built and managed by Nigerians. We don’t sell solutions, we adapt them. We are very good at understanding challenges. We do intelligent business solutions that add value to our customers.’’ Chams, a conglomerate commenced business in Nigeria in 1985 as a computer hardware and maintenance company. The company is quoted on the Nigerian Stock Exchange.

THE NIGERIA HOUSING AWARDS……..

Established over a decade ago, the Nigerian Housing Awards (NHA) is widely known as the gold standard for performance excellence in the mortgage banking and affordable housing.

Every year, the organizers of the Abuja international Housing Show, present Awards to those individuals and corporations that have helped further our Corporate Mission of ensuring that Nigerians have affordable and decent homes. In particular, we recognize exemplary real estate developments and communities that demonstrate creativity in expanding housing opportunities for Nigeria’s working families.

Affordable housing projects are often the hardest to pull together, but at the same time, the most inspiring to complete. These awards are presented during the Annual Gala Dinner held on the evening of the final day of the Abuja International Housing Show-the largest housing event in west Africa.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

You cant miss this great event which has become a unique opportunity to interact with who is who in Nigeria construction industry and international investors

Sponsorship of the NHA provides a unique opportunity to reach influencers and thought leaders of housing finance and affordable housing at the industry’s premier awards event, and includes premium placement of your organization’s brand in the event program and on NHA’s website www.nha2018.com

We pay N1.5billion to poorest Nigerians monthly, says Osinbajo

Vice President Yemi Osinbajo says the present administration is paying N5,000 monthly to over 300,000 of the poorest families across the country.
The vice president said the payment was being done without discrimination along party lines.

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Speaking on Thursday in Umuahia at the launch of Abia State Tele-Health Support Centre, Osinbajo said the federal government was giving loans to over 300,000 traders and artisans, feeding 125,624 pupils in 742 schools “and we have 1,569 cooks in total; for microcredit loans under our GEEP scheme, we have given loans to 7,585 small businesses.”
He said the government had so far invested about N2.4 billion of the Social Investment Programmes’ funds in Abia State “and specifically in healthcare, we have the Saving One Million Lives Initiative, which has made available $1.5 million to each state government – including Abia State – to improve the quality of basic healthcare available especially to our women and children.”


The vice president said the federal government’s plan for the nation was a universal health coverage for all Nigerians.
“Health insurance is the most effective way of ensuring access to healthcare when needed and at the same time funding our healthcare system, and ensuring that healthcare personnel are well rewarded,” he said.


He said President Muhammadu Buhari was committed to the welfare of all Nigerians, especially the poorest and most vulnerable, regardless of their ethnic or political affiliations.

READ:ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA
“This commitment has meant two things. First is President Buhari’s determination to break from the past where the federal government only supported states where the party in office was their own. At the inauguration of the NEC in 2015, he publicly declared that our own NEC will assist every state because poverty in our nation is no respecter of ethnic group, religion or party affiliation. Consequently, as of today the federal government has supported states without discrimination along party lines to the tune of N1.91 Trillion.


“The second is that the Federal government has prioritized social and economic policies and programmes that will bring the greatest benefit to the greatest number of our people. We have examples of these in our Social Investment Programmes. Today, we are feeding 7.5 million children in our Home-grown School Feeding Programme in 22 States. We have employed 200,000 graduates in our N-Power scheme, 300,000 more are waiting to be formally engaged. Every single local government in Nigeria is covered,” Osinbajo said.


He said the creation of the Abia State Tele-Health Support Centre would reduce the time spent travelling in search of healthcare, or waiting in line to see a doctor in healthcare facilities and close the access-to-healthcare gap between urban and rural areas.
“It will also make Abia State standout, within and outside Nigeria, as a forward-looking, people-centred state; one that is open to new ideas and to life-changing innovation,” the vice president added.

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