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

NISER, NiDCOM Advocate Stronger Diaspora Policy to Boost National Development

Published

on

NISER, NiDCOM Advocate Stronger Diaspora Policy to Boost National Development

By: Michael Mike

The Nigerian Institute of Social and Economic Research (NISER), in partnership with the Nigerians in Diaspora Commission (NiDCOM), has called for a more robust and coordinated diaspora policy framework to enhance Nigeria’s development prospects.

This call was made on Tuesday during a high-level validation workshop convened to review findings from a comprehensive diaspora study spanning six continents. The initiative aims to strengthen engagement with Nigerians abroad and maximize their contributions to the country’s economic and social growth.

In her opening remarks, NISER Director-General, Antonia Taiye Simbine, described the Nigerian diaspora as a critical national asset, noting that annual remittances exceed $20 billion—one of the highest in Africa.

She emphasized that beyond financial contributions, diaspora Nigerians bring valuable expertise, innovation, and international networks that can significantly enhance national competitiveness.

Despite these advantages, Simbine pointed to persistent challenges hindering effective engagement, including inconsistent policies, weak institutional coordination, regulatory constraints, and trust gaps between stakeholders.

She stressed that the validation workshop provides an opportunity to refine the study’s recommendations, ensuring they are practical, inclusive, and capable of driving meaningful impact.

Also speaking, NiDCOM Chairman/CEO, Abike Dabiri-Erewa, urged a strategic shift in how diaspora remittances are utilized. According to her, Nigeria must transition “from remittances for consumption to remittances for investment.”

Dabiri-Erewa highlighted the global competitiveness of Nigerians abroad, noting their contributions across key sectors such as healthcare, technology, and governance. She explained that the study’s findings would help shape a structured roadmap for diaspora engagement, anchored on improved policy coordination, investment-friendly systems, and technology transfer.

She further underscored the need for data-driven policymaking, adding that Nigeria must intentionally transform the challenge of “brain drain” into opportunities for “brain gain” and “brain circulation.”

Contributing to the discussion, representatives of the Nigerian Medical Association (NMA) emphasized the growing role of diaspora professionals in strengthening Nigeria’s healthcare system. Speaking on behalf of the association’s president, Dr. Bala Muhammad Audu, Dr. Idris Liman noted that innovations such as locally available in vitro fertilisation (IVF) services—once largely accessed abroad—demonstrate the impact of knowledge transfer from Nigerian experts overseas.

He reaffirmed the association’s commitment to fostering collaboration with diaspora medical professionals to improve healthcare delivery and reduce the need for medical tourism.

Participants at the workshop collectively stressed that sustained and well-coordinated diaspora engagement could be transformative for Nigeria’s development. The validation process is expected to yield refined, evidence-based policy recommendations to guide government efforts in integrating diaspora contributions into national planning.

NISER, NiDCOM Advocate Stronger Diaspora Policy to Boost National Development

Continue Reading

News

UK Launches Creative Fund to Strengthen Nigeria’s Film, Fashion, Music Industries

Published

on

UK Launches Creative Fund to Strengthen Nigeria’s Film, Fashion, Music Industries

By: Michael Mike

The UK-Nigeria Tech Hub has unveiled a new Creative Fund aimed at boosting local production capacity across Nigeria’s film, fashion, and music industries.

The initiative, backed by the UK Government, is designed to address critical gaps in technical skills, infrastructure, and access to modern production tools within Nigeria’s creative sector.

The fund aligns with the goals of the UK-Nigeria Economic Transformation and Investment Partnership (ETIP) Creatives Working Group, launched in 2025, and follows commitments made during Bola Ahmed Tinubu’s state visit to the United Kingdom in March 2026.

Speaking on the launch, Director of the Tech Hub, Oyinkansola Akintola-Bello, said the initiative represents a shift from policy discussions to practical action.

She noted that while Nigeria’s creative industry already contributes significantly to the economy, more support is needed to enable creatives to produce high-quality work locally rather than outsourcing key technical processes abroad.

Funded under the UK’s Digital Access Programme and implemented by Tech4Dev, the Creative Fund draws on findings from a 2024 study of Nigeria’s creative ecosystem. The research revealed that the sector employs about 4.2 million people and contributes roughly $3 billion annually to the country’s GDP, despite facing structural challenges.

These challenges include limited access to formal financing, heavy reliance on self-taught skills, and the outsourcing of high-value technical work outside Nigeria.

The fund will support projects across film, fashion, and music, particularly those with strong potential for scalability, job creation, and local impact. It will also help cover technical gaps by funding access to specialists such as visual effects artists, sound engineers, and post-production experts, as well as digital tools like content delivery systems and AI-powered production technologies.

Country Manager for Nigeria and Sub-Saharan Africa at Tech4Dev, Abraham Akpan,, emphasized that the initiative prioritizes inclusion by supporting women-led and youth-driven ventures, as well as underrepresented groups in the creative economy.

He added that the fund is intended to ensure Nigeria’s creative growth is backed by sustainable local talent and infrastructure.

Applications for the Creative Fund are currently open and will be reviewed on a rolling basis. Eligible applicants include creative companies, studios, production houses, fashion enterprises, and music labels with clearly defined technical needs and a commitment to co-investment.

The initiative is expected to strengthen Nigeria’s creative value chain and position the country as a hub for high-quality, locally produced creative content.

UK Launches Creative Fund to Strengthen Nigeria’s Film, Fashion, Music Industries

Continue Reading

News

NESREA Shuts Down 30 Non-Compliant Facilities Over EIA Violations

Published

on

NESREA Shuts Down 30 Non-Compliant Facilities Over EIA Violations

By: Michael Mike

The National Environmental Standards and Regulations Enforcement Agency (NESREA), alongside members of the press, carried out an enforcement exercise in Abuja, sealing 30 facilities over non-compliance with Environmental Impact Assessment (EIA) requirements in the construction sector.

In a speech delivered at the briefing, the Director of Environmental Quality Control, Elijah Udofia, said the affected facilities were found to have violated environmental regulations guiding construction activities, prompting decisive action by the agency.

“These violations were identified through NESREA’s routine inspections and compliance monitoring activities. In addition, these facilities also demonstrated unwillingness to fully comply with regulatory requirements relating to environmental documentation and responsiveness to compliance engagements. Where regulatory communication is clear, time-bound, and evidence-based, failure to respond constitutes a serious breach of compliance obligations and poses risks to both the environment and public health,” he said.

Udofia explained that the construction sector, while vital to national development, poses serious environmental risks when safeguards are ignored, including improper waste management, building on floodplains, uncontrolled emissions, and unsafe handling of materials.

He stressed that NESREA’s actions were in line with its mandate to enforce environmental laws and ensure public safety.

“Environmental compliance is not a choice. The regulations are designed to prevent harm before it occurs and to ensure that construction activities are managed responsibly from the start,” he stated.

He added that the agency moved from engagement to enforcement after the facilities failed to meet compliance requirements or respond adequately to regulatory concerns.

The director outlined the measures taken by NESREA, noting that the enforcement actions were aimed at stopping or curtailing environmentally harmful activities, compelling compliance through regulatory interventions, and ensuring that corrective measures are implemented within stipulated timelines.

“These enforcement steps are consistent with the agency’s powers under the NESREA Act and the National Environmental (Construction Sector) Regulations 2011,” he added.

Sending a strong warning to developers and contractors, Udofia emphasized that environmental documentation is mandatory and must be submitted as required by law. He also urged operators to respond promptly to compliance notices and implement proper environmental safeguards on-site.

“Dust control, waste management, erosion prevention, and safe site practices must be integrated into project execution—not added after problems arise. Compliance is part of project success,” he said.

NESREA also reassured the public that its enforcement actions are based on evidence and due process, not sentiment.

“We will continue to enforce the law fairly and consistently across the country,” Udofia noted.

He further called for cooperation from stakeholders to improve environmental performance across the construction sector.

“While we enforce compliance, we also call on stakeholders to cooperate with NESREA. Communities deserve clean and safe environments, and developers deserve predictable regulatory processes,” he said.

The agency concluded that the enforcement action should serve as a clear warning, reaffirming its commitment to strict enforcement of environmental regulations, especially where violations pose risks to public health and the environment.

NESREA Shuts Down 30 Non-Compliant Facilities Over EIA Violations

Continue Reading

Trending

Verified by MonsterInsights