Connect with us

News

FG to Establish National Land Commission… Put in Place Model Mortgage Foreclosure Law

Published

on

FG to Establish National Land Commission
… Put in Place Model Mortgage Foreclosure Law

By: Michael Mike

The Federal Government has announced plan to establish a National Land Commission, even as it revealed that works are on to put in place a Model Mortgage Foreclosure Law.

The Minister of Housing and Urban Development, Arc. Ahmed Dangari disclosed this on Tuesday at the ongoing 6th Nigeria Diaspora Investment Summit, NDIS in Abuja

The summit which has as theme, “New Vistas, New Aspirations, New Visions: The Diaspora and National Development is put to gather NDIS in conjucntion with Nigerians in Diaspora Commission (NIDCOM).

Dangiwa, in his remarks at the Summit, said the Land Commission when established will outline clear implementation guideline for the land Use Act.

The Minister said: “We are working to establish a National Land Commission. Part of their work will be to outline clear implementation guidelines for the Land Use Act to chart a new path of effective land administration in the country.”

He revealed that: “Last week I met with the leadership of the Presidential Technical Committee on Land Reforms, Prof. Peter Adeniyi, where I committed to incorporating the comprehensive work, they have done over 14-years in our land reform strategy.

“As the renowned land reform scholar said, experience shows that a nation can never develop if it does not conduct land reform. This will be done under the Renewed Hope Action Plan for Housing.”

Dangari further explained: “Notable part of our housing sector reforms that is of particular interest to the Diaspora interested in investing in the housing and real estate sector is land reforms. What we envision is a streamlined land administration that cuts through the bureaucratic bottlenecks and systemic inefficiencies to ensure cost effective and efficient access to land for both individuals and investors in our country.

“Currently, we have a situation where the Land Use Act, which was enacted in 1978 has no complementary institution set up alongside it to provide the necessary framework, guidelines, and regulations for operationalizing it. Under the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, GCFR, we aim to fix this systemic anomaly”.

The Minister also revealed that government is working towards having a uniformed mortgage system.

He said: “The second is the nationwide adoption of the Model Mortgage Foreclosure Law. The Model Mortgage Foreclosure Law (MMFL) provides contemporary provisions on the creation, registration, and enforcement of mortgages, along with remedies like foreclosure and the enforcement of mortgages on real properties and related purposes in Nigeria.

“As of date, the Model Mortgage Foreclosure Law (MMFL) has been passed in only four (4) states, including Lagos, Kaduna, Ekiti, and Nasarawa States. We aim to drive its passage in all the states of the federation as part of our efforts to ensure that investments in the housing and mortgage sector are protected.”

He hinted of government’s plan towards “boosting local manufacturing of building materials,” adding that: “Nigeria’s shortfall in the supply of quality housing stock presents a good opportunity for investors.”

He said: “To drive this, we aim to create an enabling environment for private sector players to produce building materials locally to lower cost, create jobs, grow the local economy, and ultimately ensure inclusive growth.

“To do this we are planning to establish six (6) manufacturing hubs – one in each of the six (6) geo-political zones in the country. The hubs will be provided with relevant facilities, including access roads, electricity, fit for purpose housing and relevant linkages for manufacturers to site their firms and operate. We are also proposing relevant incentives that will make it more profitable and rewarding for the private sector to manufacture building materials locally. “

The Minister who also launched the Diapsora Housing Mortgage Loan, assured Nigerians in Diaspora that the government is willing to support them to own houses in the country.

He said: “And as a Ministry, we are willing to support Diaspora initiatives in the housing and urban development space as well as encourage partnerships with the Diaspora towards making a change in the housing and urban development narrative of our dear country.

“It is important for me state that when we think about the Diaspora, we are not only thinking of them as sources of finance to develop our country, but we also see them as Nigerians, who though abroad, are desirous of owning homes in Nigeria. “

The Diaspora Housing Mortgage Scheme, he explained “is designed to enable Nigerians living overseas participate in the National Housing Fund (NHF) Scheme so they can access up to N50million to own their homes in Nigeria. Participants can access the loan via a National Housing Fund (NHF) loan, Rent-to-Own or the Individual Construction loan window.

“The terms are affordable and best market rates. This includes a single-digit interest rate of 9%, and a payback period of up to 10 years.

“As part of the initiative, the Federal Mortgage Bank of Nigeria will facilitate the construction of affordable housing units in major cities that meets the specifications of Nigerians in Diaspora.

“I want to say that the FMBN is not the only agency under the Ministry of Housing and Urban Development that is delving into catering to the housing needs of the Diaspora.

“The Federal Housing Authority (FHA)is also involved as part of the Ministry’s sector wide effort to cater to the Diaspora. They have undertaken to develop the Diaspora City Project under a Public Private Partnership comprising the FHA, The Nigerians in Diaspora Commission (NIDCOM) the Federal Capital Territory (FCT) and the private sector. The Project is situated in Maitama 2, with over 675 hectares of land. The FCT administration has committed to opening the road and providing the relevant infrastructure. The Diaspora City project is designed to have bungalows, semi-and detached duplexes, and mansions to reflect its inclusive essence.

“So, today, I want to say that I am excited to be the Minister of Housing and Urban Development to launch the Diaspora Mortgage Scheme, which I initiated as the MD/CE of the Federal Mortgage Bank of Nigeria on this auspicious occasion. Indeed, I consider it a positive twist of fate and “I want to use this opportunity to urge Nigerians in the diaspora to seize the opportunity the Scheme affords them to actualize their dreams of owning affordable homes in Nigeria.

“Our overall goal is to ensure that as our brothers and sisters’ sojourn abroad, they also have a decent shelter over here in Nigeria to call their home.”

On the country’s mortgage system, he said, “I am aware that the Mortgage scheme is set to be formally launched in the United Kingdom, Canada, and the United States soon, and it is my hope that the diaspora community would take full advantage of this opportunity and massively subscribe to reap its short and long-term benefits.”

The Minister equally assured the Diasporans of government commitment to sustaining necessary partnership with all relevant stakeholders.

“As I conclude my speech, I would like to assure you of the Federal Ministry of Housing and Urban Development’s commitment to sustaining the necessary collaborations, partnerships, and engagements with all relevant Stakeholders in the Housing and Urban Development sector, as we all work together towards ensuring the success of the Diaspora Housing Mortgage scheme, providing affordable housing, and ensuring sustainable urban development for Nigerians.”

Meanwhile, the Chairman/CEO of Nigerians in Diaspora Commission(NIDCOM), Hon. Abike Dabiri-Erewa, has urged Nigerians in Diaspora to catch in on the current opportunities by investing in the country, insisting that now is the best time to invest in Nigeria.

She said: “My dear guests seated here and online, I assure you that this is an exciting time to be doing business in Nigeria,and this Summit is a step in making investment and growth a reality, because as Nigerians both at home and in the Diaspora, we should always be conscious of the fact that Home is Home, and no one can develop Nigeria ike Nigerians.”

Dabiri-Erewa said in the quest of the Federal Government to go far in repositioning the economy, there was a need to partner with the Diaspora in achieving these goals.

She said: “His Excellency, President Bola Ahmed Tinubu who has just returned from attending the Saudi-Africa Summit made efforts to underscore Nigeria’s commitment to attracting more Diaspora direct investment and expand business partnerships, which are strongly reinforced by the administration’s ongoing domestic economic reforms.

“The summit is very appropriate because it creates innovative platforms of partnerships, between the Government and the Diaspora, in attracting investment into local businesses and thus enhancing Diaspora Direct Investment in the country,” she added.

FG to Establish National Land Commission
… Put in Place Model Mortgage Foreclosure Law

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Bayelsa Deepens Angola Partnership, Moves to Activate MoU with Namibe Province

Published

on

Bayelsa Deepens Angola Partnership, Moves to Activate MoU with Namibe Province

By: Michael Mike

Bayelsa State has stepped up efforts to strengthen economic and diplomatic ties with Angola, as it moves to implement a Memorandum of Understanding (MoU) signed with Namibe Province during the renewed Nigeria–Angola Bilateral Commission.

The partnership, which began with an exploratory visit to the Angolan coastal province of Namibe, has now entered an implementation phase, with both sides expressing commitment to translating agreements into tangible economic outcomes.

Governor of Bayelsa State, Senator Duoye Diri, while receiving a delegation from Angolan President João Manuel Gonçalves Lourenço led by the Minister of State and Chief of the Civil House of the President of the Republic of Angola, Dionísio Manuel da Fonseca at Bayelsa House in Abuja on Wednesday, said the relationship between Bayelsa and Namibe was built on shared economic characteristics and strategic interests. The delegation included senior Angolan government officials and investment representatives.

He explained that the first visit to Namibe was exploratory, aimed at identifying areas of mutual interest. Namibe, like Bayelsa, is a coastal region with strong potential in aquaculture, fisheries, marine services and other blue economy sectors.

“Namibe is a coastal province like Bayelsa. We have a lot in common in terms of marine resources, fisheries and natural endowments. That informed our decision to foster closer cooperation,” the governor said.

The second engagement coincided with the Nigeria–Angola Bilateral Commission meeting — the first in over two decades, the last having been held in 2005. The high-level meeting was attended by Nigeria’s Minister of State for Foreign Affairs, federal government officials and representatives of subnational governments, including Nasarawa State.

It was during that session that Bayelsa State formally signed an MoU with Namibe Province, focusing broadly on economic development in sectors where both sides have comparative advantages. Nasarawa State also signed a separate agreement with another Angolan province.

The governor noted that although Nigeria and Angola have signed nearly 30 agreements over the years, many were not fully implemented. He described the renewed bilateral engagement as a deliberate effort to reverse that trend.

“What makes this engagement different is the emphasis on implementation. Many agreements were signed in the past but were not executed. This visit is a continuation of that renewed commitment to ensure that what we have signed does not remain on paper,” he stated.

Diri, while commending the Angolan Ambassador to Nigeria, Jose Bamoquina Zau, who was part of the visiting team for working diligently to sustain relations between both countries, acknowledged the role of Nigeria’s leadership in facilitating the revival of the bilateral commission.

The governor also disclosed that a planned reciprocal visit by the Governor of Namibe Province had been postponed due to unforeseen circumstances, including the sudden loss of his deputy governor last year. He, however, expressed optimism that the visit would take place soon.

“We look forward to hosting the Namibe governor in Bayelsa so that we can further consolidate this partnership. Stronger ties between our states and provinces will ultimately strengthen relations between Nigeria and Angola,” he said.

Observers say the Bayelsa–Namibe cooperation reflects a growing trend of subnational diplomacy aimed at boosting intra-African trade, attracting investment and unlocking the economic potential of the continent’s coastal and resource-rich regions.

With both sides signaling readiness to move beyond ceremonial agreements, the partnership is expected to focus on practical collaboration in fisheries development, aquaculture expansion, marine infrastructure and broader economic exchange — positioning Bayelsa and Namibe as strategic gateways for enhanced South–South cooperation.

Bayelsa Deepens Angola Partnership, Moves to Activate MoU with Namibe Province

Continue Reading

News

NAPTIP Uncovers Cybercrime-Trafficking Ring in Southeast Asia, Rescues 23 Nigerian Youths

Published

on

NAPTIP Uncovers Cybercrime-Trafficking Ring in Southeast Asia, Rescues 23 Nigerian Youths

By: Michael Mike

The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has exposed an emerging human trafficking route funneling Nigerian youths to Southeast Asia for forced involvement in cybercrime, rescuing and repatriating 23 victims from Thailand.

The victims, mostly young and tech-savvy Nigerians, were allegedly deceived with promises of scholarships and high-paying jobs abroad before being trafficked to countries including Myanmar, Thailand, Laos and Cambodia. Instead of legitimate employment, they were reportedly compelled to participate in sophisticated online fraud schemes targeting victims across several continents.

Director General of NAPTIP, Binta Adamu Bello, described the development as a troubling shift in trafficking patterns, warning that criminal networks are now deliberately targeting educated and skilled youths.

“This is a disturbing evolution in the trafficking landscape,” Bello said. “The perpetrators are no longer focusing only on vulnerable, unskilled individuals. They now recruit intelligent young people with computer and IT skills, especially those with clean health backgrounds, under the guise of scholarships and professional opportunities.”

According to the agency, upon arrival in their destination countries, the victims were trained in cyber-enabled crimes such as romance scams, cryptocurrency fraud and fake investment schemes. Some were enrolled in language programmes, particularly in Chinese, and later deployed as translators or customer service agents to engage and deceive foreign targets.

The rescued youths reportedly revealed that they were housed in tightly controlled facilities and monitored by armed guards. They were assigned daily fraud targets and subjected to threats, intimidation and physical abuse if they failed to comply.

In some instances, victims alleged that those who resisted were tortured, while others claimed there were threats of organ harvesting, particularly against younger recruits perceived to be in good health.

NAPTIP said the rescue operation was carried out in collaboration with civil society organisation Eden (Myanmar), with significant support from the British Government and the Nigerian Embassy in Bangkok, which facilitated emergency travel documentation for the victims.

The agency noted that the latest operation aligns with its renewed crackdown on organised trafficking networks. Bello reiterated NAPTIP’s commitment to dismantling the syndicates behind the scheme and bringing the perpetrators to justice.

“We are strengthening our international partnerships and intelligence-sharing mechanisms to ensure these criminal networks are identified, disrupted and prosecuted,” she said.

Authorities said the 23 rescued Nigerians have arrived safely in the country and are currently undergoing profiling, counselling and rehabilitation as investigations continue.

The agency also urged parents, guardians and young professionals to be wary of overseas job offers that appear too good to be true, particularly those requiring travel to unfamiliar destinations without verifiable documentation.

The revelation underscores growing concerns about the convergence of human trafficking and transnational cybercrime, as criminal groups increasingly exploit digital skills to expand their illicit operations across borders.

NAPTIP Uncovers Cybercrime-Trafficking Ring in Southeast Asia, Rescues 23 Nigerian Youths

Continue Reading

News

Buni commends Balarabe for his humanitarian contributions in Yobe

Published

on

Buni commends Balarabe for his humanitarian contributions in Yobe

By: Yahaya Wakili

Yobe State Governor Hon. Mai Mala Buni CON, COMN, has commended the Managing Director/Chief Executive Officer of Sologuru Nigeria Limited, Alhaji Abdullahi Balarabe DJ Nguru, for his extraordinary humanitarian contribution to the reconstruction and modernization of Rugar Balarabe in the Nguru local government area of Yobe State.

Governor Buni made the commendation in a letter of appreciation personally written by him to Balarabe DJ, saying, “Your selfless decision to transform the site of the burnt Fulani settlement into a state-of-the-art community is a landmark achievement in private philanthropy.”

According to Buni, the comprehensive nature of the facilities provided, including modern two-bedroom residences, a functional clinic, a community mosque, solar-powered boreholes, and full solar electrification for both houses and streets, is truly commendable.

“By donating these essential amenities entirely free of charge, you have not only restored the dignity of the displaced families but have also significantly advanced our administration’s rural revitalization agenda,” Buni said.

“Your forward-thinking approach to sustainable infrastructure sets a high standard for civic leadership in Yobe State, and I thank you for your unwavering patriotism and commitment to the welfare of our citizens.

He revealed that it is my hope that your generous spirit serves as an inspiration to others.

Buni commends Balarabe for his humanitarian contributions in Yobe

Continue Reading

Trending

Verified by MonsterInsights