News

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

Published

1 year ago

November 14, 2023

Ochuwa Ibrahim

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

News

Army Chief urges troops to think outside the box to end the insurgency war

Published

6 hours ago

December 8, 2024

Ochuwa Ibrahim

Army Chief urges troops to think outside the box to end the insurgency war

By: Bodunrin Kayode

The Chief of Army Staff, Lt. Gen. Olufemi Oluyede, has said that he was in Maiduguri last week to ginger his officers and men to change the narrative of the war by thinking outside the box to get positive results.

General Oluyede said that for too long the Army has been thinking after the same old pattern of fighting asymmetric warfare, adding that it was time to think differently so that the enemy would be flushed out completely.

General Oluyede said he was not unaware of the strengths and weaknesses of his troops, which is why the entire management team in the Army Headquarters will make sure that more sophistication is added to their existing platforms to enable them to increase their strengths and overcome the enemy on all fronts once and for all.

In a jam-packed interview after he had toured critical areas of the theater, the Army chief went on: “I’m here to speak to my officers and soldiers and to appraise their operational readiness, and that I have done. What is going to be new here is that we need to reappraise our operations so that we can get a different result.

“We don’t want to continue with operations whereby we’ll be doing what we’ve been doing before and getting the same results. Now, we want different results. So we’ve sat down. We have strategized. We’re going to bring in more importance into our challenges, bringing more platforms to support the soldiers so that they can do their work well.

“I think we have achieved that aim. So we’re going back to Abuja to see how we can add more to their platforms to support them in the operations, and I’m sure we’ll get better returns.” Said the army chief.

Responding to questions on challenges affecting the Commanders and men on the ground, the Army chief went on: “I’m very aware of these challenges, but I want to take one moment to make you realize the fact that there will always be challenges.

“Now, the most important thing is how we react to those challenges. If you recall, I was in Sokoto when the issue of the Lakurawa people came up. I was prompted to go to Sokoto then, and the essence of me going was to see what we could do to make things better.

“And for the past two months, you must have seen that something is being done there. I’m talking about Zamfara, and you know, North West in general; we are also going to be backing up the operations with technology to see how we can make things better.”

Army Chief urges troops to think outside the box to end the insurgency war

News

Governor Zulum bags Honorary Doctorate by Federal University of Technology, Owerri

Published

7 hours ago

December 8, 2024

Ochuwa Ibrahim

Governor Zulum bags Honorary Doctorate by Federal University of Technology, Owerri

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has been awarded an honorary Doctorate Degree of Technology by the Federal University of Technology, Owerri (FUTO), Imo State.

The conferment took place during the institution’s 36th Convocation ceremony on Saturday, which also conferred the Governor of Imo State, Senator Hope Uzodinma, and Nigeria’s First Lady, Senator Oluremi Tinubu, honorary degrees.

Professor Zulum, a distinguished academic and professor of Irrigation Engineering, holds fellowships from several esteemed institutions and is a recipient of numerous awards for his contributions to education and public service.

Expressing his gratitude, Governor Zulum acknowledged President Bola Ahmed Tinubu, the institution’s Visitor, for the honor bestowed on him.

“On behalf of my family, the government and good people of Borno State, I extend my sincere appreciation to the Visitor, President Bola Ahmed Tinubu, the Chancellor, the Pro-Chancellor, the Vice-Chancellor, and the management of this great university for conferring this degree on me,” Zulum said.

The governor commended President Tinubu’s establishment of the Nigerian Education Loan Fund (NELFund), which is providing critical support to students in tertiary institutions.

He assured that state governors across the country would support the initiative to ensure its success.

“This fund is one of the most important initiatives established by the administration of President Bola Tinubu. I assure you that all 36 state governors will support its noble objectives,” Zulum emphasized.

Governor Zulum urged FUTO to introduce job-creating courses tailored to meet the demands of the modern economy, stressing the decline in traditional white-collar job opportunities.

“As an academic, I advise the university to offer courses that prepare graduates for entrepreneurship and self-employment,” he noted.

The governor also announced plans for a partnership between Borno State Government and the Government of Imo State to support FUTO in advancing teaching, learning and research.

He congratulated the graduating students, wishing them success in their future endeavours.

Governor Zulum was accompanied by a high-profile delegation, including Senators Mohammed Ali Ndume, Mohammed Tahir Monguno, and Kaka Shehu Lawan. Others were the APC Deputy National Chairman (North), Hon. Ali Dalori, Hon Bukar Talba, Speaker of Borno State House of Assembly, Rt. Hon. Abdulkarim Lawan, and APC State Chairman, Hon. Bello Ayuba.

Governor Zulum bags Honorary Doctorate by Federal University of Technology, Owerri

Crime

Engineer in NDLEA Custody Iver Illicit Drug Consignments in Pressure Machines

Published

7 hours ago

December 8, 2024

Ochuwa Ibrahim

Engineer in NDLEA Custody Iver Illicit Drug Consignments in Pressure Machines

…As Operatives Arrest 65-year old Grandma with Apiods in Lagos

By: Michael Mike

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a suspected drug trafficker, Egwu Inya who claims to be a building engineer, while attempting to take delivery of illicit consignments concealed in pressure machines imported from South Africa.

According to a statement on Sunday by the spokesman of the anti-narcotics agency, Femi Babafemi, the 42-year-old Egwu was arrested last Monday at Okeyson motor park Enugu when he showed up to collect three units of pressure machines inside which were hidden parcels of Loud, a synthetic strain of cannabis, weighing 7.4 kilogrammes.

Babafemi said the consignments had arrived the Murtala Muhammed International Airport, Lagos import shed on 29th November 2024, and following credible intelligence, officers of the MMIA Strategic Command of the agency had monitored the shipment pass through clearing processes up to a logistics company’s warehouse outside the airport where it was to be collected by the consignee.

He noted that the importer however changed the point of collection to Enugu at the last minute, and as a result, NDLEA operatives in a follow up operation in Enugu arrested Egwu when he showed up to collect the consignments.

In another clampdown, no fewer than 511,000 pills of tramadol were recovered from a Siena vehicle at Hildi, Askira Uba way in Adamawa state by NDLEA operatives on patrol along the road in the early hours of last Friday. The occupants of the vehicle were said to have made a detour on sighting the NDLEA team and after a distance abandoned the vehicle with the consignments after noticing the operatives were on their heel.

In Ekiti state, two suspects: Olanrewaju Alale, 48, and Babatunde Ijadahun, 55, were arrested along Ise- Emure road in a J5 bus marked EPE 958 XJ while transporting 108 jumbo bags of cannabis weighing 1,323 kilogrammes to Owo, Ondo state from where they claimed the consignment will be moved to the North for distribution.

Another suspect, Adekunle Yusuf, 33, was nabbed by NDLEA operatives with 704 kilogrammes of the same psychoactive substance, concealed in white sacks last Friday at Idere road, Igboora, Oyo state.

In Lagos, a grandmother, 65-year-old Ramata Adeyemo was on Friday arrested by NDLEA operatives at 62 Odunfa street, Lagos Island, where 20.6 litres of codeine-based syrup were recovered from her. Also arrested in Lagos was Alhaji Lawan Manga who was picked at Ogundana Street, Ikeja last Thursday while 4.7 kilogrammes cannabis and 1.3 kilogrammes tramadol were recovered from him.

Babafemi said with the same vigour, commands and formations of the agency across the country continued their War Against Drug Abuse (WADA) sensitization lectures to schools, worship centres, work places and communities among others in the past week.

Meanwhile, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (Rtd), while commending the officers and men of MMIA, Adamawa, Ekiti, Lagos, and Oyo commands of the agency for the arrests and seizures, stated that their operational successes and those of their compatriots across the country especially their balanced approach to drug supply reduction and drug demand reduction efforts are well appreciated.

Engineer in NDLEA Custody Iver Illicit Drug Consignments in Pressure Machines