Good Morning. Here’s a recap of top trending news stories this morning.
1. The Ministry of Housing and Urban Development has announced receiving 8,925 expressions of interest for reallocating houses built under the National Housing Programme. Housing Minister Ahmed Dangiwa disclosed this during a press briefing marking President Bola Tinubu’s first anniversary in office. The NHP, initiated in 2021 under the Buhari administration, aims to provide adequate and affordable housing for all Nigerians through homeownership and rental schemes in both urban and rural areas.
2. President Bola Tinubu has inaugurated the 700-kilometre Lagos-Calabar Coastal Highway. The ceremony was held on Sunday in Victoria Island, Lagos. Tinubu stated that the highway will enhance access to production and marketing centers for 30 million people.
3. The Federal Government has pledged to expedite the completion of the 378.3 megawatt Egbema Power Plant in Imo State, which is currently 70% finished. During an inspection, Minister of Power Adebayo Adelabu praised Governor Hope Uzodinma for his commitment to working with the Niger Delta Power Holding Company to advance the state’s power projects.
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4. President of the Real Estate Developers’ Association of Nigeria (REDAN), Akintoye Adeoye has pledged to provide members with access to housing market intelligence reports, data analytics, and research insights during the association’s investiture ceremony in Lagos. He announced plans to establish an accelerator and incubator program to support real estate technology startups and entrepreneurs, offering mentoring, funding, and resources.
5. The Federal Government has said it was able to streamline road project expenses, thereby, saving the country about N1.2 trillion from three road construction projects across the country. According to the permanent secretary, Ministry of Works, Dr. Yakubu Adam Kofamata, the ministry has saved over N640 billion on the Abuja-Kano expressway, N300 billion from the Second Niger Bridge, and N250 billion from the Lagos-Ibadan expressway which are on Phase 1 and Phase 2 of the road and infrastructural constructions, hence, saving the country N1.19 trillion.
6. The Lagos State Branch of the Nigerian Institution of Estate Surveyors and Valuers revealed that housing costs have surged by 300 percent over the past eight years. Speaking during a press briefing for the 2024 Estate Week held recently in Lagos, the institute’s Chairman, Gbenga Ismail, reiterated the urgent need to declare a state of emergency in the housing sector. Ismail noted that the constitutional right of Nigerians to homeownership, as outlined in the 1999 Constitution, is currently being undermined.
7. Tragedy struck on Sunday when a mosque on Yusuf Street, Papa Ajao, Ladipo area of Lagos State, suddenly collapsed on worshippers, including children. The incident resulted in three confirmed deaths and seven injuries. Four of the injured were rushed to the hospital, while four others received treatment and were discharged at the scene.
8. The Federal Government has filed a legal action against the governors of the 36 states at the Supreme Court, alleging misconduct in the administration of local government areas. The suit, marked SC/CV/343/2024 and filed by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, seeks to secure full autonomy for all local government areas, recognizing them as the third tier of government.
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9. The Statistician-General of the Federation and CEO of the National Bureau of Statistics (NBS), Adeyemi Adeniran has announced that the agency is collaborating with the Real Estate Developers Association of Nigeria (REDAN) and other stakeholders to generate data that will improve decision-making in the housing industry.
10. Former President Olusegun Obasanjo has criticized President Bola Tinubu’s administration for its inadequate handling of fuel subsidy removal, the naira’s flotation, and the military coup in Niger Republic. While acknowledging that the subsidy removal and foreign exchange policy were necessary, Obasanjo argued that their implementation was poorly managed by the government.