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Abuja beautiful houses are occupied by Rats, lizards – NIOB President

The President of the Nigerian Institute of Builders NIOB) Kenneth Nduka, has said the inability of Nigerians to buy or rent houses is the major factor responsible for the large numbers of unoccupied houses in Abuja and some major cities in Nigeria.
He said despite the huge housing deficit in the country houses in Abuja are not designed to recognise the classes of people in terms of income as beautiful houses in Abuja are occupied by lizards, spiders, rats and rodents because people can’t afford the rent.


Nduka made this disclosure recently in Abuja while speaking with journalist at the Real Estate Exhibition.

He said one of the reasons many people come to work in Abuja from the outskirts is because houses are on the high side adding that housing in Abuja is not designed to recognise the classes of people in terms of income.
The president said the way forward is for professionals to be drafted into the processes of housing delivery both at its design and the implementation level.

“Someone has to ensure that the right needs of occupants are provided. That’s the only way to ensure that needs satisfaction can be interfaced so that houses will be built and people will be able to occupy them,” he said.

Global house prices increase by 4.6 per cent

House prices worldwide increased by 4.6per cent in 2017, led by Iceland and Hong Kong, but their rate of growth has slowed while European housing markets are rising up the rankings, the latest global index shows.

Overall some 85per cent of the 59 countries tracked by the Knight Frank global house price index saw mainstream values rise and seven European countries now sit within the top 10 while Russia, Peru and Ukraine registered the weakest growth in 2017.


“The latest house price rankings provide a glimpse as to where the world’s housing markets are in relation to their property market cycles, as the era of economic stimulus comes to a close and rate rises occupy the minds of policymakers in several key western markets,’ said Kate Everett-Allen, head of international residential research at Knight Frank.

She explained that while 2017’s growth of 4.6per cent was lower than 2016’s 5.3per cent, it was still a reflection of steady growth, tied primarily to the fact the global economy registered growth of 3.7per cent in 2017.

“That is not to say there aren’t headwinds. Rising interest rates in the US, UK, and Canada as well as the withdrawal of stimulus is influencing buyer sentiment, and with over 13 countries pegged to the US dollar, further rate rises by the Federal Reserve will have repercussions beyond US shores,” she pointed out.

Indeed, the index’s more moderate rate of growth is reflected throughout the rankings. The gap between the strongest and weakest performing housing market has narrowed from 27 percentage points to 20.

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Iceland and Hong Kong still occupy first and second position but their rates of annual growth have slipped from 20per cent to 15per cent and from 18per cent to 14per cent respectively since the previous quarter. Mirroring a trend seen in the prime residential markets, European countries are rising up the rankings.

The Czech Republic and Ireland were in equal third with price growth of 12.3per cent, followed by Turkey at 11.2per cent and Serbia at 11per cent, Hungary at 10per cent, Latvia at 9.5per cent, Bulgaria at 9per cent and Malta at 8.8per cent.

The UK is ranked 24th with annual growth of 5.2per cent, Portugal at 31 with price growth of 4.5per cent, France at 35 with 3.9per cent, Germany at 38 with a rise of 3.6per cent, Spain at 43 with 3.1per cent and Italy close to the bottom at 53 with a fall of 0.8per cent.

At the bottom is Ukraine where prices fell by 5.1per cent, while in Peru they fell by 4.2per cent, in Russia they were down 3perc ent, in Saudi Arabia down 2.2per cent, in Finland down 1.5per cent and in Poland there was a fall of 0.9per cent.

In terms of the world’s largest economies, the US with growth of 6.3% has overtaken China at 5.8per cent. The index report says that in China, although tighter capital controls are limiting cross border flows, policy levers at home are having some success stemming its tide into domestic markets.

The strong performance of the US and Canada at 8.9per cent means North America outpaced all other world regions in 2017, recording average price growth of 7.5per cent. “With a raft of new measures announced to curb Vancouver’s price Inflation and further rate rises mooted we may see Canada shift down the rankings during 2018,” said Everett-Allen

Mortgage operatives propose trustees for National Housing Fund scheme

After an initial effort that eventually turned out to be a ‘false start’, a fresh move to facilitate the mobilization of fund for the provision of houses for Nigerians at affordable prices may be in the offing. The move would rejuvenate mortgage sector as part of the wider plans of overhauling housing financing institutions in the country.

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Coming under the National Housing Fund (NHF) bill 2017, which attempts to repeal Act CAP 45 laws, before the National Assembly, the scheme is aimed at ensuring the constant supply of loans to Nigerians for the purpose of building, purchasing and improvement of residential houses as well as providing incentives for the capital market to invest in property development.

NHF is a Federal Government scheme, which entitles all Nigerians above the age of 21years in paid employment to a low interest, government funded loan. Members of the scheme contribute 2.5 per cent of their monthly salary to the fund through Federal Mortgage Bank of Nigeria (FMBN).

Currently, the maximum amount obtainable under the NHF used to be N5 million but has since been increased to N15 million. The borrowed capital is repayable over a maximum of 30 years at the rate of 6 per cent interest.

Statistics show that the fund reached N191.9billion in March 2016, from 4.14 million registered contributors under the NHF scheme. About N5.9bn had been refunded to 118,284 individuals, while over 70 per cent of the cumulative collection was recorded in five years. NHF has financed the construction of about 25,606 housing units and advanced 16,506 mortgage loans.

Under the bill, FMBN will continue to manage and administer the fund, but the Mortgage Banking Association of Nigeria (MBAN) recommends that the National Assembly restructure the NHF into the National Housing Trust Fund (NHTF) scheme, to enhance the fund’s integrity, making loan access easier and more affordable.

Specifically, MBAN wants the role of the FMBN to be limited to managing the fund for a fee while overall policy formulation and supervision of NHF scheme rests with the board of trustees. This is proposed to capture, retain and maintain the continued confidence of stakeholders, particularly contributors.

MBAN Executive Secretary, Mr. Kayode Omotosho confirmed the development. He told The Guardian that the proposed NHTF board of trustees should be different from the board of the FMBN to allow proper accountability and achieve the goal of affordable housing for Nigerians.

The Guardian learnt the mortgage banks also want the fund to be under the Presidency who appoints chairman of the NHTF board instead of the Minister of Power, Works and Housing.

In the proposed bill, the minister will determine terms and conditions for loans from the fund as well as specify the conditions and the terms of repayment of any loan obtained under the NHF.

The law says that any loan granted by FMBN to a mortgage institution will be secured by a block of existing mortgages under cover of sales and administration agreement to be executed between the supervisorybank and mortgage institution.

The bill stipulates that a Nigerian worker earning an income of N10, 000 and above per annum in both the public and the private sectors of the economy will contribute 2.5 per cent of basic monthly salary to the Fund. An interest rate of 4 per cent will be payable on the contributions.

The law also makes it mandatory for every commercial or merchant bank to invest in the fund 10 percent of its loans and advances at an interest rate of 1 per cent above the interest rate payable on current account by banks.

Similarly, every registered insurance company will invest a minimum of 20 per cent of its non- life funds and 40 per cent of its life funds in real property development of which not less than 50 per cent will be paid into the fund through the FMBN at an interest rate not exceeding 4 per cent.

Likewie, every registered Pension Fund Administrator will invest a minimum of 10per cent of its pension funds and assets in real estate development investments, while the Federal Government will make adequate financial contributions to the fund for the purpose of granting of long term loans and advances for housing development.

Failure by any commercial/merchant bank to pay to the bank any amount to pay to the Bank any amount due will be regarded as a contravention of this bill and constitute one of the grounds for the Central Bank of Nigeria to cancel the registration of any commercial or merchant bank in default. The same applies to insurance companies.

Meanwhile, the penalty for failure to deduct contributions is to be increased from N50,000 to N5 million in case of corporate bodies while the staff responsible for the NHF deductions and remittance will be liable to a fine of N50,000 (instead of the existing N20,000) and a prison term of five year or both.

For self-employed persons who fail to make deductions or deduct and fail to remit to the Bank will be liable to a fine of N50, 000 (instead of the existing N5,000) or to imprisonment for a term of one year or to both.

The proposed law also criminalises obstructing the deduction and remittance of NHF. The penalty for this will be increased to N20, 000 (from current N5,000) or imprisonment for one year.

The bill imposes a penalty of N1 million for a corporate body (currently N50,000) and N50,000 for an individual (from current N5,000) for producing false documents or to imprisonment for a term of one year or to both such fine and imprisonment. The Federal High Court have jurisdiction to try all offences under this bill.

Nigeria: FMBN to Remove Equity Payment in Estates

In its determination to guarantee affordable housing to Nigerian workers, the Federal Mortgage Bank of Nigeria (FMBN) has vowed to remove equity payments in its completed estates across 10 states that would be used as a pilot project for soon to be launched rent-to-own scheme.


The managing director of FMBN, Ahmed Musa Dangiwa, an architect, stated this in Abuja while receiving eight-man delegation from the Nigeria Institute of Management (NIM) led by its president, Prof. Olakunle Iyanda.

According to him, “They (beneficiaries) will enter into the house as a tenant, while paying the rent and it will become theirs over the years”.

He noted that the bank has continued to sponsor it’s staff to NIM professional development programmes yearly and would continue with the trend in order to enrich the bank human resources.

The MD revealed that the bank was established by an act to provide affordable mortgages that would boost home ownership among Nigerian workers particularly the low and medium income earners that constituted over 80 percent of the population.

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“Its been done through the National Housing Fund (NHF) scheme into which workers mostly in public and private sector contribute 2.5 percent of their monthly income into the fund”.

Dangiwa emphasised that the bank has continued to provide affordable mortgages to workers and construction finance to some developers for housing development through the scheme.

He was optimistic that the NHF which he described as individual mortgage loans are granted at 6 percent interest rate, considered as the lowest and most affordable in the country.

“We have the FMBN home renovation loan with liberalised conditions for easy access by workers which is being run now of which workers are given a minimum of N1million to renovate or upgrade their homes”.

The MD urged NIM members to take advantage of the banks mortgage products so as to act as good ambassadors of FMBN.

He was hopeful that the institute would continue to uphold the standards for which it has been known over the year even as he assured of FMBN commitment towards the sustanance of mutually beneficial realtionship between the two organisations.

Responding, the president of NIM, Prof. Olakunle Iyanda said that the institute is ready to contribute its quota towards enhancing the success story of the bank through the training programme offered to FMBN staff.

He however invited FMBN to join NIM as a corporate member just as he appealed to the bank to pay the annual subscription of its staff who are members of NIM.

“We want to establish the mutually beneficial relationship to participate in the training of your staff periodically either as nominees to various training programmes that we run or as facilitator for your internal programmes for selected group of staff in the bank”, he concluded.

World Bank begins preparation for Nigeria’s $500m power distribution project

Okechukwu Nnodim, Abuja

The World Bank has commenced preparations for the $500m Nigerian Electricity Distribution Improvement Project.

It was learnt that the bank had conducted a fact-finding mission in the distribution sub-sector of the industry in order to ascertain how it could help boost service delivery by the power distributors.

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Documents made available to our correspondent in Abuja on Sunday on Nigeria’s Power Sector Recovery Programme revealed that the global financial institution had met with officials of the Federal Ministry of Power, Works and Housing and other operators in the sector as regards the development.

The PSRP, which is domiciled at the headquarters of the Nigerian Electricity Regulatory Commission, stated, “The World Bank conducted a fact-finding mission that would foster project development for the distribution sub-sector support.

“World Bank representatives met with stakeholders from the Ministry of Power, Works and Housing, NERC, Ministry of Finance and Bureau of Public Enterprises, in addition to private sector operatives, Discos and commercial bank representatives. The NEDIP is expected to contribute to the operationalisation of the distribution segment under the PSRP.”


The PSRP also stated that the Nigeria Electricity Transmission Access Project recently got approval for $486m from the World Bank.

It said, “The World Bank has approved a credit of $486m for Nigeria’s electricity transmission substations’ rehabilitation. This is a part of the financial support aimed at achieving a viable power sector through the PSRP implementation.

“The NETAP will also finance the deployment of a functional SCADA/EMS, which is a critical electric management system for grid stability.”

The PSRP also stated that its public sensitisation campaign development was in the final stages.

It said the objectives of the nationwide public awareness campaign was to raise awareness on power sector issues, consumer rights and responsibilities, in addition to key messaging on metering, electricity theft, bill payment, energy efficiency and conservation, power value chain education and the role of Discos, among others.

It further stated that the PSRP implementation monitoring team recently met with officials of the Central Bank of Nigeria, Federal Ministry of Finance, Nigerian Bulk Electricity Trading Company and World Bank representatives for the financial arrangements and implementation of the programme.

UNDP completes 608 houses in Borno community

The United Nations Development Programme (UNDP) has handed over 608 housing units built for Ngwom Community to Borno State government.

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The housing units are part of efforts at rebuilding about 20 destroyed communities by Boko-Haram in 2014 and 2016. About 370 households were affected while 2,300 residents were forced to take refuge in camps in Maiduguri.


UNDP Resident Coordinator, Edward Kallon disclosed this in Maiduguri at the handing over ceremony in Ngwom. He said because of the commitment to rebuilt Borno State, UNDP, Japan, the Switzerland and other development partners are in Ngwom to give back hope to school boys and girls, including old women in the community.

Speaking on the UNDP integrated rural development, the Commissioner of Reconstruction, Rehabilitation and Resettlement (RRR), Prof. Babagana Umara said the EU has earmarked 20 million euros for rebuilding 20 destroyed communities in the state.

NIESV Pledges Support For Lagos LUC Law

Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State chapter, has pledged support for the revised Land Use Charge (LUC) law of the state.

Olurogba Orinmalade, chairman of Lagos NIESV, also hailed Governor Ambode’s gesture in slashing the new LUC for commercial properties by 50 per cent.

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During a stakeholders’ meeting at Protea Hotels, Ikeja, Lagos, Orimalade described the Akinwunmi Ambode-led government in Lagos as a listening government and pledged his association’s support for other progressive decisions of the government.

The event was a meeting with professionals in the real estate sector.

“We are committed to working with the present Lagos State administration to make the new law succeed and we have already set up a technical committee to come up, in 10 days, with directions, recommendations and position of the institution on the law in order to collaborate with the government for a better society.”

However, Nigerian Institute of Architects (NIA) called on government to carry stakeholders along in its dealings.

Ifeoma George, NIA vice president, at the meeting described Ambode’s administration as a listening government.

Akinyemi Ashade, the Commissioner for Finance, took the opportunity to further enumerate other reliefs in the amended LUC law.


He emphasised that the government was open to further discussions on how to solve the challenges plaguing infrastructural financing and investments in Lagos. He also mentioned that there would be no penalty for late payment in the 2018 regime as earlier stipulated.

The amended LUC law is a property tax that consolidates the tenement rate, neighbourhood improvement rate, and ground rent.

Outside of the commercial properties, properties occupied by owners and third party used for commercial purposes will get a further 25 per cent discount, while a wholly owner-occupied property will get an additional 15 per centdiscount as graciously pronounced by the government.

In addition to these, all the other reliefs enumerated at the inception of the amended law remains valid. These include 40 per cent general relief across board, meaning that whatever is the value of the property, 40 per cent will be deducted and the charge will only be calculated on the remaining 60 per cent. For senior citizens above 70 years old, there is an additional 10 per cent discount. For those living with any form of disability, there is also 10 per cent discount, while properties that are 25 years old and above will also enjoy another 10 per cent discount. Above all, payments can be staggered across the year to soothe the economic convenience of the payer.

The commissioner also emphasised that self-assessment of property will be encouraged to help individuals calculate their charges appropriately. They are allowed to use their independent estate valuers to assess their property and bring such discrepancies up to the government for reconciliation.

Everyone present at the meeting agreed and fully appreciated the unparalleled efforts of the state government in turning around the infrastructural fortunes of the state. They pledged their loyalty and support to the government’s efforts towards the Lagos Mega City Drive.

To buttress this point, members of the Estate Agents Association (EAA) present pledged to partner with the state government in advising the landlords to speedily pay the new LUC.

The meeting also had in attendance professional bodies like Faculty of Estate Agency and Auctioneering, International Real Estate Federation, Association of Builders and Property Developers, and Association of Town Planners.

CEOs FORUM AT THE 12th Abuja International Housing Show

The need for industry unity has never been more important. Increasing competition among stakeholders, industry disruption, consolidation and outdated, inefficient regulations and public
policies demand CEO discussion and alignment. Before now, no such forum had existed to discuss these matters.

It is for this reason, therefore, that the CEOs Forum at the 12th Abuja International Housing Show on July 16, 2018 will provide a platform for the highest-ranking executives of Real Estate, Mortgage and Banking to discuss best practices related to inclusive employment and retention strategies, increasing affordable housing delivery, brand loyalty, diversity in governance, philanthropy and the importance of the Real Estate Industry to Corporate Nigeria.

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The invitation only event will have in attendance chief executive officers and their executive management teams — as well as industry thought leaders — who will meet and exchange perspectives on the Real Estate and Housing Finance industry’s most pressing issues. The ROUND-TABLE will provide an exclusive opportunity for the industry’s most senior leaders to coalesce in a closed-door forum to debate and consider current and future issues that shape the industry agenda. The forum will help to provide guidance and direction on the long-term strategies that will drive the future of Affordable Housing Delivery, Housing Finance and Construction Technology.

The CEOs Forum will also provide an opportunity for Chief Executives to discuss ways that they, as leaders in the Real Estate community, can engage meaningfully with government officials and International Investors.

Register today at www.abujainternationalhousingshow.com, for an opportunity to hear from and dialogue with CEOs and market leaders of other industries, high-level policymakers, analysts, experts, economists, and elected officials in thought-provoking presentations and discussions.


Kunle Faleti – Mr. Housing – Affordable Housing Advocacy
Ambassador Plenipotentiary – Abujahousingshow – West Africa’s Largest Housing Expo.

FG Housing Programme Creates 4,090 Employments In Oyo State – Official

Mosunmade Odusanya, Director of Architectural Services, Ministry of Power, Works and Housing and Oyo state Team Leader made this known during an inspection of the project by officials of the ministry.
The ongoing National Housing Programme in Ibadan, Oyo State, has generated over 4,090 employments and empowerment to Nigerians within the site locality, an official said on Saturday.
Mosunmade Odusanya, Director of Architectural Services, Ministry of Power, Works and Housing and Oyo state Team Leader made this known during an inspection of the project by officials of the ministry.
Apart from bridging the critical housing deficit in Nigeria, NHP is initiated to address and improve the socio-economic conditions through employment generation, poverty alleviation and empowerment of people within the locality.
The NHP site is one of the largest sites in the South West zone, located at Kilometre 17, Oyo-Ibadan expressway, Onidundu, Akinyele Local Government Area.

Briefing newsmen on the project, Odusanya said that the 72 housing units construction have engaged 13 contractors, 110 professionals, 3,832 skilled and unskilled labours and 40 food vendors.
He added that 55 building materials suppliers, 35 blocks moulders and five security guards were also employed; so, it has made positive impact on the economy of the state.
According to the team leader, the project is at its completion stage including painting and decorating, external works and landscaping, electrical and mechanical fittings and fixtures.
He said: “There was minimal challenge of delay brought by the initial water log land given by the state government which was later changed to a well-planned and secured environment.”
The Federal Controller, Sarah Alawode, told newsmen that the NHP project had motivated many other projects to spring up in the area, adding that infrastructure project would begin soon.

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Alawode, who was represented by Bola Adesanya from Oyo state Field Headquarters, disclosed that additional 10 hectares of land has been approved by the state government for its second phase.
A representative of the contractors, Olanrewaju Balogun, complained about delay in funding, adding that most times he received 15 per cent fund to start a job which he said was meagre to compare to the project.
He noted that many indigenes of the state have benefitted as he employed 25 skilled and unskilled workers for the project while he utilised 85 per cent locally sourced materials.
Some artisans at the site also commended the Federal Government for initiating the NHP, which they said have improved the living conditions of their families.
Taiwo Oladejo, a food vendor, at the site expressed joy for the opportunity to sell food in the location, adding that she was making average of N15, 000 daily.
Oladejo, a widow with five children, said the project brought hope and succour for her because she was able to build a home for her family and educate her child from the income.
The ministry officials had earlier inspected the NHP in Osun state, situated in Abere, Ede North Local Government Area of the state.
The project comprises 28 two bedroom units, 16 three bedroom units and a condominium block consisting of 24 different housing units, with 68 units as total.
Presenting the site situation report, Lola Onwubalili, Team Leader Osun state and Deputy Director of Architecture, Ministry of Power, Works and Housing, noted that 16 units have attained completion.
In respect to infrastructure, the official said that the ministry also appointed three contractors to provide road, water and electrical infrastructure for the site.

“The water infrastructure is at 80 per cent completed with drilling of four additional boreholes, installation of ground and overhead water tanks and construction of a water treatment plant building.
“Progress on the road contract includes completion of the site survey, setting out roads and site clearing.
“The contractor handling external electrification has completed the erection of the electric poles and construction of housing for the transformer substations.”
Onwubalili said that one of the multiplier effects of the housing project was jobs creation in Osun, saying that the programme has provided jobs for contractors, building professionals and artisans.
According to her, scores of skilled artisans and hundreds of unskilled labourers including building materials suppliers, block makers and food vendors have benefited from the scheme.
She said the main challenge to the project occurred at the beginning of the project when site operations were delayed for two weeks due to riots in response to demolitions by the state government in Abere area.

Onwubalili said that with the help of the community’s traditional rulers, the problem was speedily resolved.
The News Agency of Nigeria reports that the NHP, which is ongoing in 35 states of the federation, was being anchored by the ministry of power, works and housing.

Collapsed Building: Fashola Wants Indicted Professionals Jailed

The Minister of Power, Works and Housing, Mr Babatunde Fashola (SAN), has said that jailing any professional responsible for any collapsed building would serve as deterrent and prevent reoccurrence.

Fashola made this assertion in Abuja when he appeared on the News Agency of Nigeria (NAN) flagship programme, NAN Forum.

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“How many professionals have been jailed for collapsed building?

“Once you jail a professional in the same way you sanction a medical officer for negligence of conduct with regard to his patients or a legal practitioner with regard to his clients

“Then you have sent the clearest message that those who build houses for people owe a duty of care to ensure that they build according to approved design and specifications.

“And that the approved design standard is also followed to the letter, you don’t short-change your materials,” he said.

The minister stated that there must be consequences when people violated the National Housing Code, adding that it was not the responsibility of the ministry rather a law enforcement that could assist us.

Speaking on affordable housing, he recalled that the board of the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) were recently inaugurated to boost it.


Fashola said that the two were important agencies to help government deliver on the policy of affordable housing, noting that the FMBN was saddled to finance while the FHA was to build.

“By the time I started, it seemed that the two agencies are competing so we are trying to realign that; we are also engaging the support of states to come unto the National Housing Fund (NHF).

“We also want to extend the impact of NHF to cooperatives for unions, artisans among others, so that we can have non-governmental workers too contributing to the fund and benefiting from it.

“We are looking at the possibilities whereby cooperatives can also take housing fund loan and build houses for their members.

This, he said, could go a long way to reduce the housing deficit and make housing affordable to all.

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