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25 Unique Housing Sector News in 2021

In a matter of hours, in fact less than 12 hours, 2021 would become
history and give way for a brown New Year 2022. Inspite of the fact
that 2021 was the year after the Coronavirus pandemic lockdown and the
longing for pre-Covid normalcy was overwhelming; the year had some
remarkable and historical events that pervaded the housing sector in
Nigeria. ‘Tunde Babalola, Editor of Africa Housing News went through
the archive and dug out the events that shaped the housing sector in
2021.

 

 

 

The Collapse of 21-storey Building in Ikoyi

Tragedy struck in the highbrow area of Ikoyi on November 1 when a 21
high-rise building collapsed claiming lives, including that of the
owner and CEO of Fourscore Homes, Femi Osibona. About 46 fatalities
were recorded while 15 people escaped death.

One of the survivors of the collapsed 21-storey building in Ikoyi,
Lagos, said they were working on a cracked pillar on the first floor
of the skyscraper when it crumbled.

Controversies however trailed the number of floors Osibona received
approval for. It was initially reported that Osibona got approval for
a 15-storey building but exceeded his limit and used inferior
materials. The deceased was said to have tried to prevent officials of
the Lagos State Building Control Agency, (LASBCA) from sealing off the
building in question.

But a contradictory report from a “preliminary investigation” carried
out by the Nigerian Institution of Structural Engineers (NIStructE)
indicated that the building was initially designed for six floors, and
later to 12 floors before it was changed to 15 floors.

 

Ikoyi Building Collapse: Sanwo-Olu inaugurates six-member panel to
investigate cause of collapse

The Lagos State Government is however probing the collapse and the
Governor vowed to deal with saboteurs.

In a swift reaction, Governor Babajide Sanwo-Olu on November 4
inaugurated a six-member panel of inquiry to investigate the cause of
the collapse of the 21-storey building in Ikoyi, Lagos.

Mr Sanwo-Olu inaugurated the panel at the headquarters of the Lagos
State Waterways Authority (LASWA) at Falomo where members of the panel
would be sitting.

The governor also signed an executive bill to give legal backing to
the panel during their period of sitting.

The panel was chaired by Toyin Ayinde, the president of the National
Institute of Town Planners.

Other members of the panel are Akintilo Idris; Yinka Ogundairo, an
architect; Godfrey Godfrey, a builder; Bunmi Ibraheem, and Ekundayo
Onajobi, the secretary of the panel.

But up till the close of the year, no cogent actions have been taken
to forestall future occurrence.

 

 

Housing Development Advocacy Network, (HDAN) Unveiled Affordable
Housing Hall of Fame

For the first time in Nigeria’s history, the Housing Development
Advocacy Network, (HDAN) on December 10, 2021 unveiled Affordable
Housing of Fame where prominent individuals like Late Alhaji Lateef
Kayode Jakande, the former civilian governor of Lagos State, Late
Engineer S.O Fadahunsi, former President Nigerian Society of
Engineers, Late Sir Fortune Ebie , former President Nigerian
Institution of Estate Surveyors. They were posthumously inducted into
the affordable housing hall of fame for their unparallel and
invaluable contributions in pioneering affordable housing development
and advocacy efforts in Nigeria.

Similarly, Professor Akin Mabogunje, who clocked 90 years recently,
Prof Nuhu Timothy among others instituted into the Hall of Fame with
the overall intention to showcase and immortalize them for standing up
for affordable housing in the country.

According to the Executive Director of HDAN, Mr. Festus Adebayo, the
institution of the Hall of Fame is to appreciate well deserving
individuals who have contributed meaningfully to the growth of the
housing sector while recognizing other Nigerians whose legacies have
continued to inspire millions of people based on their impactful
contributions to affordable housing and development in the country

REDAN Signs MOU with Shelter Afrique

The Real Estate Developers Association of Nigeria (REDAN), signed a
Memorandum of Understanding with one of Africa’s largest housing
financing giant, Shelter Afrique at 2021 edition of the Abuja
International Housing Show, in Abuja, Nigeria.

According to the President of the Association, Alh. Aliyu Wammako, the
MoU comes at a time when the country and the world were in dire need
of convenient, accessible and affordable housing.

 

CBN Okays N200bn housing loan for low income earners

In September, the Central Bank of Nigeria, (CBN) announced N200
billion mortgage finance loan to Family Homes Fund (FHF).

The fund is for the building of 300,000 homes in the 36 states of the
federation and the Federal Capital Territory. It is also expected to
help create up to 1.5 million jobs in five years.

The CBN framework for the implementation of the Family Homes Financing
Scheme released yesterday indicates that the fund would be released
to FMF on project basis, subject to the cumulative maximum limit of
N200 billion.

According to the framework, the three-year term loan will enable
FHF finance the construction of social housing units for people on low
income at an interest rate not more than five per cent per annum (all
inclusive).

 

Works, Housing Minister, Fashola, Calls for Stoppage of Yearly Rent Payment

Minister of Works and Housing, Mr. Babatunde Fashola (SAN), restated
his call on Nigerian landlords to halt the practice of collecting
payments for rents in advance of one year or more.

The minister, who spoke during the 15th Abuja International Housing
Show (AIHS), convened by the Executive Director, Housing Development
Advocacy Network in Nigeria, Mr. Festus Adebayo, called on state
legislatures to put legislations in place to stop the development,
which has worsened Nigeria’s housing crisis.

He further argued that it remains a matter of morality, stressing that
it is evident that most houses available for sale or rent belong
mostly to individuals and private companies compared to those owned by
the states or the federal government.

 

Family Homes Funds Issues N10bn Bond — Nigeria’s First Corporate Sukuk

The Family Homes Funds Limited has issued a seven-year N10 billion
corporate Sukuk, the first ever in the country. This is the first
Sukuk to be registered by the Securities and Exchange Commission (SEC)
and certified by the Financial Regulation Advisory Council of Experts
(FRACE) of the Central Bank of Nigeria (CBN).

The development marks Family Homes Funds debut in the country’s debt
capital markets.

The issue for a seven-year and 13 percent bond will be due in 2028
under Family Homes Fund N30 billion Sukuk programme.

Sukuk is a bond that complies with Islamic religious law, commonly
known as Sharia.

 

Ogun, Seven Others Get N30bn for Housing Schemes

The Managing Director of Nigeria Mortgage Refinance Company, (NMRC),
Kehinde Ogundimu, says N30bn has been expended on housing schemes in
Ogun and seven other states.

Ogundimu who stated this after inspecting the Prince Court Estate
located in Kobape financed by the company through Gateway Mortgage
Bank Limited.

Ogundimu said the states including Ogun, Lagos, Rivers and the FCT had
accessed N30bn in the last four years.

He said the NMCR recently provided N1bn to over 200 Ogun civil
servants intended to participate in the state housing scheme of the
government.

 

Nigeria Green Building Pioneers Share Experiences at IFC EDGE Event

Towards celebrating early adopters and encouraging housing industry
players to adopt sustainable building practices, the International
Finance Corporation’s (IFC) EDGE in November brought together
champions of green buildings in the Nigerian real estate industry to
share their experiences in Lagos.

The IFC EDGE event, which was held on the sidelines of this year’s
West Africa Property Investment (WAPI) summit was organised in
collaboration with the Africa Property Investment (API) and attracted
government leaders, housing development finance institutions, private
developers, and a wide array of housing industry stakeholders.

In his remarks at the event, the IFC Senior Country Manager, Mr. Kalim
Shah, congratulated EDGE pioneers in Nigeria for their foresight and
embrace of green design. EDGE is a green building certification system
focused on making new residential and commercial buildings more
resource-efficient.

He said IFC would continue to provide support to help them remain
market leaders in the industry.

“Investing in sustainability is not only good for the environment, but
it also helps drive inclusive economic growth. Green buildings—that
is, those with lower emissions and are built with more sustainable
materials — reduce their impacts on our fragile environment and can
save occupants money thanks to lower utility bills,” Mr. Kalim Shah,
IFC Senior Country Manager.

How FMBN is Enhancing Housing Affordability with Rent-to-Own Housing Product

Another laudable way to encourage Nigerians to own their own houses
was promoted in 2021.

Rent-to-Own: Key to Housing Affordability
One of Nigeria’s greatest long-term development challenges has been
providing citizens with access to decent housing. Access to affordable
housing can have a significant impact on a person’s well-being. A
safe, secure home can improve health, hygiene, and educational
opportunities by ensuring access to clean water, safe toilets,
electricity, and a respite from heat and disease-spreading insects.

At the core of this challenge is affordability. Experts agree that
housing affordability is a function of three things: household income,
the price of the house, and the terms of the finance.
Despite rapid urbanisation and increased demand for affordable housing
and housing finance, interventions by the government are limited and
inadequate. Due to low incomes, most low and middle-income households
have minimal resources to spend on housing. Thus, they are forced to
spend years living in poor or unfinished houses or renting with little
hope of saving enough money to build or buy their own home.

Henry Edet Bassey is a senior staff of the Nigerian Nuclear Regulatory
Authority (NNRA). He lives in Abuja and has been a consistent
contributor to the National Housing Fund (NHF) Scheme since 2013. The
Federal Government established the NHF scheme in 1992 to mobilize
funds for the provision of affordable residential houses for
Nigerians.

The Federal Mortgage Bank of Nigeria (FMBN) administers and manages
the fund as a source of long-term finance to power the Bank’s
affordable suite of housing products. Contributors to the NHF scheme
can apply for FMBN housing loans after six months of consecutive
contributions of 2.5 per cent of their monthly income.

Another good example is Mohammed Tawakalitu, a grade level 10 civil
servant with the FCT Secondary Education Board in Abuja. He is a proud
owner of a three-bedroom flat at Anthem Estate, an FMBN funded housing
community located in Gwagwalada, an Abuja suburb, under the FMBN
rent-to-own window. He started his homeownership journey by
registering and consistently contributing to the National Housing Fund
(NHF) scheme.

Fashola Says National Housing Programme Receives 7,315 Applications in
Seven Days

As Nigerians respond positively to the Ministry of Works and Housing
portal opened early in November for a chance to subscribe to the over
5,000 houses under the Federal Government’s National Housing
Programme, the Minister of Works and Housing, Babatunde Fashola,
announced that a total of 7,315 applications for allocation have
already been received by the ministry.

Mr Fashola, who appeared before the Senate Committee on Lands, Housing
and Urban Development in continuation of the defence of the 2022
Budget of his Ministry, also submitted to the committee the documents
showing the number of applications submitted and those completed and
undergoing processing as well as a breakdown of the number according
to states.

Explaining the criteria for pricing of the different categories of
houses, the minister, who said the prices ranged from N7.2 million,
representing the lowest to N16.5 million representing the highest
price, pointed out that one of the factors that made the difference in
price between the programme’s houses and those being built by private
developers was size.

He told members of the committee that the categories of the houses
under the programme included1, 2, 3 bedrooms semi-detached bungalows
and condominium, (blocks of flats), adding that there are also price
differentials among the categories of houses based also on the size
and space with all the bungalows, for example, having adjoining land
thereby making it more expensive than the flats.

 

Real estate used for money laundering, illicit financial flows —ICPC Chairman

Also in November, the Chairman of the Independent Corrupt Practices
and Other Related Offences Commission, Professor Bolaji Owasanoye,
SAN, has said real estate is often used as cover for money laundering
and Illicit Financial Flows.

He said this at a public hearing on real estate organized by the House
of Representatives Ad-Hoc Committee on Investigation of Operations of
Real Estate Developers in FCT, Abuja.

Spokesperson, ICPC, Mrs. Azuka Ogugua, in a statement titled, ‘Real
Estate used for Money Laundering, IFFs – ICPC Chairman,’ said
Owasanoye fingered public officers, saying they use real estate
developers as conduits for IFFs.

The ICPC boss was quoted as saying, “Corruption in real estate aids
illicit financial flows. The real estate sector is globally recognized
as attractive to IFFs largely because it is informal, unregulated and
thus open to abuse, shell-companies, use of intermediaries and third
parties to acquire high value real estate with proceeds of crime
and/or illicit funds.”

He further said, “Corrupt public officers use real estate investment
as vehicle for hiding ill-gotten wealth and money laundering. Public
officers acquire estates in pseudo names to conceal illegal origin of
funds.

 

Shonubi becomes NIQS president, pledges to enthrone best practices

The Nigerian Institute of Quantity Surveyors, (NIQS) has elected Mr.
Michael Shonubi as its new president. While assuming office, he
promised to entrench best practices in the administrative and
governance structure of the institute.

Shonubi, who was inaugurated the 26th President of NIQS during the
institute’s 29th biennial conference held at the International
Conference Centre, Abuja, also stressed the need to consolidate on the
achievements of past administrations.

He further outlined his vision to include collaboration with other
professional bodies in the built environment with a view to
influencing government policies and laws that affect the industry;
developing strategic plans for the growth and development of the
profession as well as deepening its training and ensuring that the
ethics and practice monitoring committee of the institute function
effectively.

 

Enyi Ben-Eboh Sworn-In As 29th NIA President Amidst Funfare

Enyi Ben-Eboh was elected and sworn in as the 29th National President
of the Nigerian Institute Of Architects, (NIA).

The election and the sworn-in took place during the 61st Annual
General Meeting (AGM) with the theme, Smart Architecture: Exploring
New Frontiers In Architecture Practice.

The newly sworn-in President, Arc Enyi Ben-Eboh appreciated all
members of the Institute for supporting the course of the Institute
and electing him as the 29th President of the Institute.

 

Abuja International Housing Show Hosted her 15th Edition

In July, the Abuja International Housing Show, (AIHS) organised the
15th edition of the show during which the Secretary to the Government
of the Federation, (SGF), Mr Boss Mustapha and FCT Minister, Musa
Mohammed commended AIHS and its numerous partners and collaborators
for sustaining the annual Show for the past 15 years and nurturing it
from a small gathering of exhibition to becoming Africa’s biggest
housing and construction event.

According to the SGF, Nigeria like its counterparts across emerging
and advanced markets is dealing with issues that are tied to increase
in population, rapid urbanisation rate, dwindling resources, youth
unemployment, terrorism and Covid-19 pandemic, saying this year’s Show
will guide the government in its efforts to address the issues in the
housing and construction sector.

This year’s celebration with the theme: SUSTAINABLE AND RESILIENT
HOUSING SOLUTIONS FOR A POST PANDEMIC WORLD is aimed at closing the
gap in the housing deficit in the country.

 

Senate passes real estate regulatory bill to check fraud

The Senate on November 17 passed a bill to establish the Real Estate
Regulatory Council of Nigeria.

The Council when established would, amongst others, curb fraudulent
practices to ensure that the real estate business confirms with the
National Building Code in Nigeria.

The bill which scaled third reading during plenary is tagged: The Real
Estate Regulatory Council of Nigeria (Establishment) Bill, 2021.

The bill sponsored by Aliyu Wamakko (APC, Kebbi) was read for the
first time on April 28, 2021, and a scaled second reading on June 22,
2021.

The passage of the bill followed the consideration of a report by the
Committee on Establishment and Public Service.

The report was laid during plenary by the Deputy Chief Whip, Aliyu
Sabi Abdullah.

 

ICPC recovers 301 houses from 2 public servants

The anti-corruption posture of the Buhari administration received a
boost in October as the Independent Corrupt Practices and Other
Related Offences Commission, (ICPC), said that 301 houses were
recovered from two public officers, adding that real estate aids
illicit financial flows, IFF.

The agency said “the real estate sector is globally recognised as
attractive to IFF largely because it is partially informal, not
properly regulated and so easily open to abuse.

ICPC made the revelations at an investigative hearing of the House on
corruption in real estate sector, where the ICPC and the Economic and
Financial Crimes Commission,( EFCC), fingered some officials of
government as culprits.

In his presentation, the ICPC Chairman, Professor Owasanonye said:
“Public officers acquire estates in pseudonyms to conceal the illegal
origin of funds.

 

Tension in Magodo Estate as landlords move to effect Supreme Court ruling

The intervention of Governor Babajide Sanwo-Olu on December 22 saved
the Magodo Estate Phase 2 from demolition by the Adeyiga family of
Shangisha, reportedly acknowledged as the lawful owner of the land
where the estate is sited, by the Supreme Court.

Tension engulfed the estate from Tuesday afternoon through Wednesday
morning when the judicially-acclaimed owners rolled a bulldozer to the
gate of the estate, connecting Shangisha, preparatory to pulling down
multi-billion naira hundreds of buildings marked for possession on
Tuesday afternoon.

When the bulldozer was denied access by the leadership of Magodo
Residential Association (MRA) Tuesday night, the claimant-family moved
early Wednesday morning to execute the apex court’s judgment which
returned the estate land to the family.

Outrage as FHA demolishes multi billion naira houses at FESTAC Town

There was wailing on Sunday, November 29 demolition of houses worth
several billions of Naira at FESTAC Town, Lagos, by the Federal
Housing Authority (FHA).

Some homeowners in FESTAC Phase Two woke up to see their houses being
demolished on Sunday morning.

The exercise, residents said, came a day after an article announced
that the FHA would soon begin mass demolition of buildings without
approval in FESTAC Town.

While some spoke to The Guardian in utter shock that their houses
which they struggled to erect with their hard earned money were
destroyed within a twinkling of an eye, others took to the social
media to lament the development, decrying what they called
government’s insensitivity.

 

FCT Minister Commissions Cosgrove Smart Estate

The Honorable Minister of the Federal Capital Territory (FCT), Mal
Muhammad Musa Bello Federal Government has commissioned Cosgrove Smart
Estate, Wuye, Abuja, consisting of 160 future-ready tastefully
finished homes which leverage the integration of technology in real
estate development in Nigeria.

In his keynote address, the FCT Minister, who commissioned the estate
alongside the Honorable Minister of Youth and Sports Development,
Chief Sunday Dare, expressed delight in the ability of the indigenous
company to achieve a “great leap forward” in the evolution of the
housing sector by satisfactorily delivering the top-of-the-range-homes
in the FCT, noting that it gives impetus to the primary mandate of the
Federal Capital Territory Administration (FCTA), which the minister
said is “the development of a world class national capital for Nigeria
that we would all be proud of as Nigerians and as Africans.”

 

AfDB Board Approves $170m For Investment in Nigeria’s Digital,
Creative Start-ups

The Board of Directors of the African Development Bank (AfDB) has
approved a loan of $170 million to finance a digital and creative
enterprises programme in Nigeria.

The investment in Digital and Creative Enterprises Program (i-DICE) is
a Federal Government of Nigeria initiative promoting investment in
digital and creative industries. It is part of Nigeria’s efforts to
build back better, greener, and more inclusively, to create more
sustainable jobs for the teeming youthful population.

The programme targets more than 68 million Nigerians aged 15 to 35
years who are recognized as leaders of innovative, early-stage,
technology-enabled start-ups or as leaders of creative sector micro,
small and medium sized enterprises. The program is co-financed by the
Agence Française de Développement (AFD) and the Islamic Development
Bank (IsDB).

 

Insecurity: FCTA threatens to revoke titles of 435 abandoned
buildings, 600 undeveloped plots

In order to ensure adequate protection of lives and property in and
around the 250 square kilometers of the Federal Capital City, Abuja,
the FCT Administration may have concluded arrangements to sanction
owners of 435 abandoned /uncompleted structures.

The FCT Director of Land Administration, Adamu Jibrin Hussaini, made
this disclosure while briefing the FCT Press Corps on the end of the
year activities of the Department, revealed that the sanction may
include revocation of titles.

Also, the Department has conveyed 495 Certificates of Occupancy to
bonafide owners from January to December 2021.

The Director advised the owners of such abandoned / uncompleted
buildings within the City to swiftly work towards the completion of
these buildings; saying that such structures have become a source of
security breach in the city.

 

FG Launches National Development Plan to Unlock Potential in Housing Sector

The Federal Government has launched a five-year National Development
Plan, (NDP) medium-term blueprint designed to unlock the country’s
potential in housing sector of the economy in other to address the
possible housing challenge by 2025.

Report has it that an estimated 1.6 billion people (one third of the
world’s urban population) may face affordable housing challenge by
2025.

In the 195 page document, the Federal Government will establish Urban
and Regional Development Boards (URDB) charged with the responsibility
for the overall supervision, including monitoring and management of
urban development as well as planning across states.

Also, there are plans to develop and implement a national urban
development policy that focuses on urban renewal, provision of
low/medium income housing, while checking rural to urban migration.

“This will reduce the percentage of the urban residents who live in
slums from 69 per cent to 55.2 per cent to make cities and human
settlements inclusive, safe, resilient and sustainable by keying into
the SDGs.”

 

NIQS Decries Non-involvement in Building Construction

The Nigerian Institute of Quantity Surveyors (NIQS) has decried
non-involvement of professionals in the construction sector.

Chairman, Lagos State chapter of the institute, Ayodele Alao,
expressed this concern at a press conference to herald its yearly
dinner dance and award night, titled: “Enhancing the performance of
the construction sector of the Nigerian economy involving the right
professionals.”

He lamented the non-involvement of professionals in quality control
and supervision of building developments, according to global
standards.

 

Jakande, Ekwueme, Fadahunsi, 2 others inducted into Affordable Housing
Hall of Fame

Late Alhaji Lateef Kayode Jakande, former civilian Governor of Lagos
State who was also a former Minister of Works and Housing, and
Nigeria’s former Vice President, Sir Alex Ekwueme with three others
were on Friday, December 10 2021 inducted as the 2021 posthumous
inductees in the Affordable Housing Hall of Fame.

The event, the first of its kind in Africa, was organized by Africa’s
most prestigious and most credible housing awards – Africa Housing
Awards.

Apart from Alhaji Lateef Kayode Jakande, the former civilian governor
of Lagos State, popularly known as “Baba Kekere”, Engineer S.O
Fadahunsi, former President of the Nigerian Society of Engineers, and
Sir Fortune Ebie, who was among Nigeria’s first generation of Estate
Surveyors and Valuers. Ebie, a man deeply committed to his God, his
family, housing for the poor and the Ika nation. Ebie was also a
former President, Nigerian Institution of Estate Surveyors.

Retired Major General Mamman Tsofo Kontagora, Honorary Fellow of the
Nigerian Institute of Architects; Fellow, Nigerian Institute of
Surveyors, Nigerian Society of Engineers, Nigerian Institute of Town
Planners, Nigerian Institute of Quantity Surveyors, Nigerian Institute
of Estate Surveyors and Valuers as well as former Minister of Works
and Housing and Federal Capital Territory Minister completed the pack
of five heroes inducted posthumously into the Affordable Housing Hall
of Fame.

 

Mabogunje, Aliyu top lists of Inductees in Affordable Housing Hall of
Fame powered by HDAN

A nonagenarian, Prof. Akinlawon Ladipo Mabogunje, Mallam Ibrahim
Aliyu, and nine others have been inducted as 2021 Affordable Housing
Hall of Fame.

The event organized as African Housing Awards 2021 was hosted by the
leading Non-governmental advocacy organization, Housing Development
Advocacy Network, (HDAN) at the International Conference Centre,
(ICC), Abuja on Friday December 10, 2021.

Prof Akin Mabogunje as he is popularly called is a Nigerian
geographer. He was the first African president of the International
Geographical Union. In 1999, he was the first African to be elected as
a Foreign Associate of the United States National Academy of Sciences.

On his part, Mallam Ibrahim Aliyu is currently the Chairman of Urban
Shelter Limited. He also provides leadership to many businesses in
Nigeria.

Other notable individuals among the inductees were Arch. Femi Adewole,
a housing finance professional and chartered architect with over 25
years experience leading housing initiatives across Sub Sahara Africa
and the United Kingdom. Before his appointment as the MD of Family
Homes Funds, he was MD of Shelter Afrique and Prof. Timothy Nubi,
Housing finance and Urban Regeneration experts. He is the current
Chairman, Housing Committee University of Lagos and the Director of
Foundation Studies. He has authored over 50 peer-reviewed articles and
supervised over 40 postgraduate level theses.

Other inductees into the Affordable Housing Hall of Fame were Prince
Seyi Lufadeju, Arc Sam Odia, Arc. Ahmed Dangiwa, and Mr Ezekiel Ojo.

Others were Prof. Olumide Olusanya, Rev (Sur.) Ugochukwu Chime, and
Brig. Gen Tunde Reis (Rtd).

 

 

Fire Guts ‘Popular’ NEXT Cash & Carry Supermarket In Abuja

The year ended on a tragic note as a fire incident occurred at the
popular NEXT Cash & Carry Supermarket in Abuja, the Nigerian capital
on Sunday December 26.

The cause of the fire was yet to be ascertained at the time of this
report as officials struggle to put out the fire.

The supermarket, one of the largest in the Nigerian capital, is
located in the Jahi area of the city.

Meanwhile, the FCT Minister, Malam Musa Mohammed and his Humanitarian
Affairs, Disaster Management and Social Development counterpart,
Sadiya Umar Farouq have visited the burnt supermarket.

They pledged that the federal government will provide needed support
for Next Cash and Carry supermarket towards its resuscitation.

Umar Farouq made the pledge when she visited the building to ascertain
the extent of damage at the facility in Abuja on Wednesday.

At site of the inferno Umar Farouq described the losses of the popular
shopping complex as catastrophic and colossal.

In a matter of hours, in fact less than 12 hours, 2021 would become
history and give way for a brown New Year 2022. Inspite of the fact
that 2021 was the year after the Coronavirus pandemic lockdown and the
longing for pre-Covid normalcy was overwhelming; the year had some
remarkable and historical events that pervaded the housing sector in
Nigeria. ‘Tunde Babalola, Editor of Africa Housing News went through
the archive and dug out the events that shaped the housing sector in
2021.

 

 

 

The Collapse of 21-storey Building in Ikoyi

Tragedy struck in the highbrow area of Ikoyi on November 1 when a 21
high-rise building collapsed claiming lives, including that of the
owner and CEO of Fourscore Homes, Femi Osibona. About 46 fatalities
were recorded while 15 people escaped death.

One of the survivors of the collapsed 21-storey building in Ikoyi,
Lagos, said they were working on a cracked pillar on the first floor
of the skyscraper when it crumbled.

Controversies however trailed the number of floors Osibona received
approval for. It was initially reported that Osibona got approval for
a 15-storey building but exceeded his limit and used inferior
materials. The deceased was said to have tried to prevent officials of
the Lagos State Building Control Agency, (LASBCA) from sealing off the
building in question.

But a contradictory report from a “preliminary investigation” carried
out by the Nigerian Institution of Structural Engineers (NIStructE)
indicated that the building was initially designed for six floors, and
later to 12 floors before it was changed to 15 floors.

 

Ikoyi Building Collapse: Sanwo-Olu inaugurates six-member panel to
investigate cause of collapse

The Lagos State Government is however probing the collapse and the
Governor vowed to deal with saboteurs.

In a swift reaction, Governor Babajide Sanwo-Olu on November 4
inaugurated a six-member panel of inquiry to investigate the cause of
the collapse of the 21-storey building in Ikoyi, Lagos.

Mr Sanwo-Olu inaugurated the panel at the headquarters of the Lagos
State Waterways Authority (LASWA) at Falomo where members of the panel
would be sitting.

The governor also signed an executive bill to give legal backing to
the panel during their period of sitting.

The panel was chaired by Toyin Ayinde, the president of the National
Institute of Town Planners.

Other members of the panel are Akintilo Idris; Yinka Ogundairo, an
architect; Godfrey Godfrey, a builder; Bunmi Ibraheem, and Ekundayo
Onajobi, the secretary of the panel.

But up till the close of the year, no cogent actions have been taken
to forestall future occurrence.

 

 

Housing Development Advocacy Network, (HDAN) Unveiled Affordable
Housing Hall of Fame

For the first time in Nigeria’s history, the Housing Development
Advocacy Network, (HDAN) on December 10, 2021 unveiled Affordable
Housing of Fame where prominent individuals like Late Alhaji Lateef
Kayode Jakande, the former civilian governor of Lagos State, Late
Engineer S.O Fadahunsi, former President Nigerian Society of
Engineers, Late Sir Fortune Ebie , former President Nigerian
Institution of Estate Surveyors. They were posthumously inducted into
the affordable housing hall of fame for their unparallel and
invaluable contributions in pioneering affordable housing development
and advocacy efforts in Nigeria.

Similarly, Professor Akin Mabogunje, who clocked 90 years recently,
Prof Nuhu Timothy among others instituted into the Hall of Fame with
the overall intention to showcase and immortalize them for standing up
for affordable housing in the country.

According to the Executive Director of HDAN, Mr. Festus Adebayo, the
institution of the Hall of Fame is to appreciate well deserving
individuals who have contributed meaningfully to the growth of the
housing sector while recognizing other Nigerians whose legacies have
continued to inspire millions of people based on their impactful
contributions to affordable housing and development in the country

REDAN Signs MOU with Shelter Afrique

The Real Estate Developers Association of Nigeria (REDAN), signed a
Memorandum of Understanding with one of Africa’s largest housing
financing giant, Shelter Afrique at 2021 edition of the Abuja
International Housing Show, in Abuja, Nigeria.

According to the President of the Association, Alh. Aliyu Wammako, the
MoU comes at a time when the country and the world were in dire need
of convenient, accessible and affordable housing.

 

CBN Okays N200bn housing loan for low income earners

In September, the Central Bank of Nigeria, (CBN) announced N200
billion mortgage finance loan to Family Homes Fund (FHF).

The fund is for the building of 300,000 homes in the 36 states of the
federation and the Federal Capital Territory. It is also expected to
help create up to 1.5 million jobs in five years.

The CBN framework for the implementation of the Family Homes Financing
Scheme released yesterday indicates that the fund would be released
to FMF on project basis, subject to the cumulative maximum limit of
N200 billion.

According to the framework, the three-year term loan will enable
FHF finance the construction of social housing units for people on low
income at an interest rate not more than five per cent per annum (all
inclusive).

 

Works, Housing Minister, Fashola, Calls for Stoppage of Yearly Rent Payment

Minister of Works and Housing, Mr. Babatunde Fashola (SAN), restated
his call on Nigerian landlords to halt the practice of collecting
payments for rents in advance of one year or more.

The minister, who spoke during the 15th Abuja International Housing
Show (AIHS), convened by the Executive Director, Housing Development
Advocacy Network in Nigeria, Mr. Festus Adebayo, called on state
legislatures to put legislations in place to stop the development,
which has worsened Nigeria’s housing crisis.

He further argued that it remains a matter of morality, stressing that
it is evident that most houses available for sale or rent belong
mostly to individuals and private companies compared to those owned by
the states or the federal government.

 

Family Homes Funds Issues N10bn Bond — Nigeria’s First Corporate Sukuk

The Family Homes Funds Limited has issued a seven-year N10 billion
corporate Sukuk, the first ever in the country. This is the first
Sukuk to be registered by the Securities and Exchange Commission (SEC)
and certified by the Financial Regulation Advisory Council of Experts
(FRACE) of the Central Bank of Nigeria (CBN).

The development marks Family Homes Funds debut in the country’s debt
capital markets.

The issue for a seven-year and 13 percent bond will be due in 2028
under Family Homes Fund N30 billion Sukuk programme.

Sukuk is a bond that complies with Islamic religious law, commonly
known as Sharia.

 

Ogun, Seven Others Get N30bn for Housing Schemes

The Managing Director of Nigeria Mortgage Refinance Company, (NMRC),
Kehinde Ogundimu, says N30bn has been expended on housing schemes in
Ogun and seven other states.

Ogundimu who stated this after inspecting the Prince Court Estate
located in Kobape financed by the company through Gateway Mortgage
Bank Limited.

Ogundimu said the states including Ogun, Lagos, Rivers and the FCT had
accessed N30bn in the last four years.

He said the NMCR recently provided N1bn to over 200 Ogun civil
servants intended to participate in the state housing scheme of the
government.

 

Nigeria Green Building Pioneers Share Experiences at IFC EDGE Event

Towards celebrating early adopters and encouraging housing industry
players to adopt sustainable building practices, the International
Finance Corporation’s (IFC) EDGE in November brought together
champions of green buildings in the Nigerian real estate industry to
share their experiences in Lagos.

The IFC EDGE event, which was held on the sidelines of this year’s
West Africa Property Investment (WAPI) summit was organised in
collaboration with the Africa Property Investment (API) and attracted
government leaders, housing development finance institutions, private
developers, and a wide array of housing industry stakeholders.

In his remarks at the event, the IFC Senior Country Manager, Mr. Kalim
Shah, congratulated EDGE pioneers in Nigeria for their foresight and
embrace of green design. EDGE is a green building certification system
focused on making new residential and commercial buildings more
resource-efficient.

He said IFC would continue to provide support to help them remain
market leaders in the industry.

“Investing in sustainability is not only good for the environment, but
it also helps drive inclusive economic growth. Green buildings—that
is, those with lower emissions and are built with more sustainable
materials — reduce their impacts on our fragile environment and can
save occupants money thanks to lower utility bills,” Mr. Kalim Shah,
IFC Senior Country Manager.

How FMBN is Enhancing Housing Affordability with Rent-to-Own Housing Product

Another laudable way to encourage Nigerians to own their own houses
was promoted in 2021.

Rent-to-Own: Key to Housing Affordability
One of Nigeria’s greatest long-term development challenges has been
providing citizens with access to decent housing. Access to affordable
housing can have a significant impact on a person’s well-being. A
safe, secure home can improve health, hygiene, and educational
opportunities by ensuring access to clean water, safe toilets,
electricity, and a respite from heat and disease-spreading insects.

At the core of this challenge is affordability. Experts agree that
housing affordability is a function of three things: household income,
the price of the house, and the terms of the finance.
Despite rapid urbanisation and increased demand for affordable housing
and housing finance, interventions by the government are limited and
inadequate. Due to low incomes, most low and middle-income households
have minimal resources to spend on housing. Thus, they are forced to
spend years living in poor or unfinished houses or renting with little
hope of saving enough money to build or buy their own home.

Henry Edet Bassey is a senior staff of the Nigerian Nuclear Regulatory
Authority (NNRA). He lives in Abuja and has been a consistent
contributor to the National Housing Fund (NHF) Scheme since 2013. The
Federal Government established the NHF scheme in 1992 to mobilize
funds for the provision of affordable residential houses for
Nigerians.

The Federal Mortgage Bank of Nigeria (FMBN) administers and manages
the fund as a source of long-term finance to power the Bank’s
affordable suite of housing products. Contributors to the NHF scheme
can apply for FMBN housing loans after six months of consecutive
contributions of 2.5 per cent of their monthly income.

Another good example is Mohammed Tawakalitu, a grade level 10 civil
servant with the FCT Secondary Education Board in Abuja. He is a proud
owner of a three-bedroom flat at Anthem Estate, an FMBN funded housing
community located in Gwagwalada, an Abuja suburb, under the FMBN
rent-to-own window. He started his homeownership journey by
registering and consistently contributing to the National Housing Fund
(NHF) scheme.

Fashola Says National Housing Programme Receives 7,315 Applications in
Seven Days

As Nigerians respond positively to the Ministry of Works and Housing
portal opened early in November for a chance to subscribe to the over
5,000 houses under the Federal Government’s National Housing
Programme, the Minister of Works and Housing, Babatunde Fashola,
announced that a total of 7,315 applications for allocation have
already been received by the ministry.

Mr Fashola, who appeared before the Senate Committee on Lands, Housing
and Urban Development in continuation of the defence of the 2022
Budget of his Ministry, also submitted to the committee the documents
showing the number of applications submitted and those completed and
undergoing processing as well as a breakdown of the number according
to states.

Explaining the criteria for pricing of the different categories of
houses, the minister, who said the prices ranged from N7.2 million,
representing the lowest to N16.5 million representing the highest
price, pointed out that one of the factors that made the difference in
price between the programme’s houses and those being built by private
developers was size.

He told members of the committee that the categories of the houses
under the programme included1, 2, 3 bedrooms semi-detached bungalows
and condominium, (blocks of flats), adding that there are also price
differentials among the categories of houses based also on the size
and space with all the bungalows, for example, having adjoining land
thereby making it more expensive than the flats.

 

Real estate used for money laundering, illicit financial flows —ICPC Chairman

Also in November, the Chairman of the Independent Corrupt Practices
and Other Related Offences Commission, Professor Bolaji Owasanoye,
SAN, has said real estate is often used as cover for money laundering
and Illicit Financial Flows.

He said this at a public hearing on real estate organized by the House
of Representatives Ad-Hoc Committee on Investigation of Operations of
Real Estate Developers in FCT, Abuja.

Spokesperson, ICPC, Mrs. Azuka Ogugua, in a statement titled, ‘Real
Estate used for Money Laundering, IFFs – ICPC Chairman,’ said
Owasanoye fingered public officers, saying they use real estate
developers as conduits for IFFs.

The ICPC boss was quoted as saying, “Corruption in real estate aids
illicit financial flows. The real estate sector is globally recognized
as attractive to IFFs largely because it is informal, unregulated and
thus open to abuse, shell-companies, use of intermediaries and third
parties to acquire high value real estate with proceeds of crime
and/or illicit funds.”

He further said, “Corrupt public officers use real estate investment
as vehicle for hiding ill-gotten wealth and money laundering. Public
officers acquire estates in pseudo names to conceal illegal origin of
funds.

 

Shonubi becomes NIQS president, pledges to enthrone best practices

The Nigerian Institute of Quantity Surveyors, (NIQS) has elected Mr.
Michael Shonubi as its new president. While assuming office, he
promised to entrench best practices in the administrative and
governance structure of the institute.

Shonubi, who was inaugurated the 26th President of NIQS during the
institute’s 29th biennial conference held at the International
Conference Centre, Abuja, also stressed the need to consolidate on the
achievements of past administrations.

He further outlined his vision to include collaboration with other
professional bodies in the built environment with a view to
influencing government policies and laws that affect the industry;
developing strategic plans for the growth and development of the
profession as well as deepening its training and ensuring that the
ethics and practice monitoring committee of the institute function
effectively.

 

Enyi Ben-Eboh Sworn-In As 29th NIA President Amidst Funfare

Enyi Ben-Eboh was elected and sworn in as the 29th National President
of the Nigerian Institute Of Architects, (NIA).

The election and the sworn-in took place during the 61st Annual
General Meeting (AGM) with the theme, Smart Architecture: Exploring
New Frontiers In Architecture Practice.

The newly sworn-in President, Arc Enyi Ben-Eboh appreciated all
members of the Institute for supporting the course of the Institute
and electing him as the 29th President of the Institute.

 

Abuja International Housing Show Hosted her 15th Edition

In July, the Abuja International Housing Show, (AIHS) organised the
15th edition of the show during which the Secretary to the Government
of the Federation, (SGF), Mr Boss Mustapha and FCT Minister, Musa
Mohammed commended AIHS and its numerous partners and collaborators
for sustaining the annual Show for the past 15 years and nurturing it
from a small gathering of exhibition to becoming Africa’s biggest
housing and construction event.

According to the SGF, Nigeria like its counterparts across emerging
and advanced markets is dealing with issues that are tied to increase
in population, rapid urbanisation rate, dwindling resources, youth
unemployment, terrorism and Covid-19 pandemic, saying this year’s Show
will guide the government in its efforts to address the issues in the
housing and construction sector.

This year’s celebration with the theme: SUSTAINABLE AND RESILIENT
HOUSING SOLUTIONS FOR A POST PANDEMIC WORLD is aimed at closing the
gap in the housing deficit in the country.

 

Senate passes real estate regulatory bill to check fraud

The Senate on November 17 passed a bill to establish the Real Estate
Regulatory Council of Nigeria.

The Council when established would, amongst others, curb fraudulent
practices to ensure that the real estate business confirms with the
National Building Code in Nigeria.

The bill which scaled third reading during plenary is tagged: The Real
Estate Regulatory Council of Nigeria (Establishment) Bill, 2021.

The bill sponsored by Aliyu Wamakko (APC, Kebbi) was read for the
first time on April 28, 2021, and a scaled second reading on June 22,
2021.

The passage of the bill followed the consideration of a report by the
Committee on Establishment and Public Service.

The report was laid during plenary by the Deputy Chief Whip, Aliyu
Sabi Abdullah.

 

ICPC recovers 301 houses from 2 public servants

The anti-corruption posture of the Buhari administration received a
boost in October as the Independent Corrupt Practices and Other
Related Offences Commission, (ICPC), said that 301 houses were
recovered from two public officers, adding that real estate aids
illicit financial flows, IFF.

The agency said “the real estate sector is globally recognised as
attractive to IFF largely because it is partially informal, not
properly regulated and so easily open to abuse.

ICPC made the revelations at an investigative hearing of the House on
corruption in real estate sector, where the ICPC and the Economic and
Financial Crimes Commission,( EFCC), fingered some officials of
government as culprits.

In his presentation, the ICPC Chairman, Professor Owasanonye said:
“Public officers acquire estates in pseudonyms to conceal the illegal
origin of funds.

 

Tension in Magodo Estate as landlords move to effect Supreme Court ruling

The intervention of Governor Babajide Sanwo-Olu on December 22 saved
the Magodo Estate Phase 2 from demolition by the Adeyiga family of
Shangisha, reportedly acknowledged as the lawful owner of the land
where the estate is sited, by the Supreme Court.

Tension engulfed the estate from Tuesday afternoon through Wednesday
morning when the judicially-acclaimed owners rolled a bulldozer to the
gate of the estate, connecting Shangisha, preparatory to pulling down
multi-billion naira hundreds of buildings marked for possession on
Tuesday afternoon.

When the bulldozer was denied access by the leadership of Magodo
Residential Association (MRA) Tuesday night, the claimant-family moved
early Wednesday morning to execute the apex court’s judgment which
returned the estate land to the family.

Outrage as FHA demolishes multi billion naira houses at FESTAC Town

There was wailing on Sunday, November 29 demolition of houses worth
several billions of Naira at FESTAC Town, Lagos, by the Federal
Housing Authority (FHA).

Some homeowners in FESTAC Phase Two woke up to see their houses being
demolished on Sunday morning.

The exercise, residents said, came a day after an article announced
that the FHA would soon begin mass demolition of buildings without
approval in FESTAC Town.

While some spoke to The Guardian in utter shock that their houses
which they struggled to erect with their hard earned money were
destroyed within a twinkling of an eye, others took to the social
media to lament the development, decrying what they called
government’s insensitivity.

 

FCT Minister Commissions Cosgrove Smart Estate

The Honorable Minister of the Federal Capital Territory (FCT), Mal
Muhammad Musa Bello Federal Government has commissioned Cosgrove Smart
Estate, Wuye, Abuja, consisting of 160 future-ready tastefully
finished homes which leverage the integration of technology in real
estate development in Nigeria.

In his keynote address, the FCT Minister, who commissioned the estate
alongside the Honorable Minister of Youth and Sports Development,
Chief Sunday Dare, expressed delight in the ability of the indigenous
company to achieve a “great leap forward” in the evolution of the
housing sector by satisfactorily delivering the top-of-the-range-homes
in the FCT, noting that it gives impetus to the primary mandate of the
Federal Capital Territory Administration (FCTA), which the minister
said is “the development of a world class national capital for Nigeria
that we would all be proud of as Nigerians and as Africans.”

 

AfDB Board Approves $170m For Investment in Nigeria’s Digital,
Creative Start-ups

The Board of Directors of the African Development Bank (AfDB) has
approved a loan of $170 million to finance a digital and creative
enterprises programme in Nigeria.

The investment in Digital and Creative Enterprises Program (i-DICE) is
a Federal Government of Nigeria initiative promoting investment in
digital and creative industries. It is part of Nigeria’s efforts to
build back better, greener, and more inclusively, to create more
sustainable jobs for the teeming youthful population.

The programme targets more than 68 million Nigerians aged 15 to 35
years who are recognized as leaders of innovative, early-stage,
technology-enabled start-ups or as leaders of creative sector micro,
small and medium sized enterprises. The program is co-financed by the
Agence Française de Développement (AFD) and the Islamic Development
Bank (IsDB).

 

Insecurity: FCTA threatens to revoke titles of 435 abandoned
buildings, 600 undeveloped plots

In order to ensure adequate protection of lives and property in and
around the 250 square kilometers of the Federal Capital City, Abuja,
the FCT Administration may have concluded arrangements to sanction
owners of 435 abandoned /uncompleted structures.

The FCT Director of Land Administration, Adamu Jibrin Hussaini, made
this disclosure while briefing the FCT Press Corps on the end of the
year activities of the Department, revealed that the sanction may
include revocation of titles.

Also, the Department has conveyed 495 Certificates of Occupancy to
bonafide owners from January to December 2021.

The Director advised the owners of such abandoned / uncompleted
buildings within the City to swiftly work towards the completion of
these buildings; saying that such structures have become a source of
security breach in the city.

 

FG Launches National Development Plan to Unlock Potential in Housing Sector

The Federal Government has launched a five-year National Development
Plan, (NDP) medium-term blueprint designed to unlock the country’s
potential in housing sector of the economy in other to address the
possible housing challenge by 2025.

Report has it that an estimated 1.6 billion people (one third of the
world’s urban population) may face affordable housing challenge by
2025.

In the 195 page document, the Federal Government will establish Urban
and Regional Development Boards (URDB) charged with the responsibility
for the overall supervision, including monitoring and management of
urban development as well as planning across states.

Also, there are plans to develop and implement a national urban
development policy that focuses on urban renewal, provision of
low/medium income housing, while checking rural to urban migration.

“This will reduce the percentage of the urban residents who live in
slums from 69 per cent to 55.2 per cent to make cities and human
settlements inclusive, safe, resilient and sustainable by keying into
the SDGs.”

 

NIQS Decries Non-involvement in Building Construction

The Nigerian Institute of Quantity Surveyors (NIQS) has decried
non-involvement of professionals in the construction sector.

Chairman, Lagos State chapter of the institute, Ayodele Alao,
expressed this concern at a press conference to herald its yearly
dinner dance and award night, titled: “Enhancing the performance of
the construction sector of the Nigerian economy involving the right
professionals.”

He lamented the non-involvement of professionals in quality control
and supervision of building developments, according to global
standards.

 

Jakande, Ekwueme, Fadahunsi, 2 others inducted into Affordable Housing
Hall of Fame

Late Alhaji Lateef Kayode Jakande, former civilian Governor of Lagos
State who was also a former Minister of Works and Housing, and
Nigeria’s former Vice President, Sir Alex Ekwueme with three others
were on Friday, December 10 2021 inducted as the 2021 posthumous
inductees in the Affordable Housing Hall of Fame.

The event, the first of its kind in Africa, was organized by Africa’s
most prestigious and most credible housing awards – Africa Housing
Awards.

Apart from Alhaji Lateef Kayode Jakande, the former civilian governor
of Lagos State, popularly known as “Baba Kekere”, Engineer S.O
Fadahunsi, former President of the Nigerian Society of Engineers, and
Sir Fortune Ebie, who was among Nigeria’s first generation of Estate
Surveyors and Valuers. Ebie, a man deeply committed to his God, his
family, housing for the poor and the Ika nation. Ebie was also a
former President, Nigerian Institution of Estate Surveyors.

Retired Major General Mamman Tsofo Kontagora, Honorary Fellow of the
Nigerian Institute of Architects; Fellow, Nigerian Institute of
Surveyors, Nigerian Society of Engineers, Nigerian Institute of Town
Planners, Nigerian Institute of Quantity Surveyors, Nigerian Institute
of Estate Surveyors and Valuers as well as former Minister of Works
and Housing and Federal Capital Territory Minister completed the pack
of five heroes inducted posthumously into the Affordable Housing Hall
of Fame.

 

Mabogunje, Aliyu top lists of Inductees in Affordable Housing Hall of
Fame powered by HDAN

A nonagenarian, Prof. Akinlawon Ladipo Mabogunje, Mallam Ibrahim
Aliyu, and nine others have been inducted as 2021 Affordable Housing
Hall of Fame.

The event organized as African Housing Awards 2021 was hosted by the
leading Non-governmental advocacy organization, Housing Development
Advocacy Network, (HDAN) at the International Conference Centre,
(ICC), Abuja on Friday December 10, 2021.

Prof Akin Mabogunje as he is popularly called is a Nigerian
geographer. He was the first African president of the International
Geographical Union. In 1999, he was the first African to be elected as
a Foreign Associate of the United States National Academy of Sciences.

On his part, Mallam Ibrahim Aliyu is currently the Chairman of Urban
Shelter Limited. He also provides leadership to many businesses in
Nigeria.

Other notable individuals among the inductees were Arch. Femi Adewole,
a housing finance professional and chartered architect with over 25
years experience leading housing initiatives across Sub Sahara Africa
and the United Kingdom. Before his appointment as the MD of Family
Homes Funds, he was MD of Shelter Afrique and Prof. Timothy Nubi,
Housing finance and Urban Regeneration experts. He is the current
Chairman, Housing Committee University of Lagos and the Director of
Foundation Studies. He has authored over 50 peer-reviewed articles and
supervised over 40 postgraduate level theses.

Other inductees into the Affordable Housing Hall of Fame were Prince
Seyi Lufadeju, Arc Sam Odia, Arc. Ahmed Dangiwa, and Mr Ezekiel Ojo.

Others were Prof. Olumide Olusanya, Rev (Sur.) Ugochukwu Chime, and
Brig. Gen Tunde Reis (Rtd).

 

 

Fire Guts ‘Popular’ NEXT Cash & Carry Supermarket In Abuja

The year ended on a tragic note as a fire incident occurred at the
popular NEXT Cash & Carry Supermarket in Abuja, the Nigerian capital
on Sunday December 26.

The cause of the fire was yet to be ascertained at the time of this
report as officials struggle to put out the fire.

The supermarket, one of the largest in the Nigerian capital, is
located in the Jahi area of the city.

Meanwhile, the FCT Minister, Malam Musa Mohammed and his Humanitarian
Affairs, Disaster Management and Social Development counterpart,
Sadiya Umar Farouq have visited the burnt supermarket.

They pledged that the federal government will provide needed support
for Next Cash and Carry supermarket towards its resuscitation.

Umar Farouq made the pledge when she visited the building to ascertain

the extent of damage at the facility in Abuja on Wednesday.

At site of the inferno Umar Farouq described the losses of the popular
shopping complex as catastrophic and colossal.In a matter of hours, in fact less than 12 hours, 2021 would become
history and give way for a brown New Year 2022. Inspite of the fact
that 2021 was the year after the Coronavirus pandemic lockdown and the
longing for pre-Covid normalcy was overwhelming; the year had some
remarkable and historical events that pervaded the housing sector in
Nigeria. ‘Tunde Babalola, Editor of Africa Housing News went through
the archive and dug out the events that shaped the housing sector in
2021.

 

 

 

The Collapse of 21-storey Building in Ikoyi

Tragedy struck in the highbrow area of Ikoyi on November 1 when a 21
high-rise building collapsed claiming lives, including that of the
owner and CEO of Fourscore Homes, Femi Osibona. About 46 fatalities
were recorded while 15 people escaped death.

One of the survivors of the collapsed 21-storey building in Ikoyi,
Lagos, said they were working on a cracked pillar on the first floor
of the skyscraper when it crumbled.

Controversies however trailed the number of floors Osibona received
approval for. It was initially reported that Osibona got approval for
a 15-storey building but exceeded his limit and used inferior
materials. The deceased was said to have tried to prevent officials of
the Lagos State Building Control Agency, (LASBCA) from sealing off the
building in question.

But a contradictory report from a “preliminary investigation” carried
out by the Nigerian Institution of Structural Engineers (NIStructE)
indicated that the building was initially designed for six floors, and
later to 12 floors before it was changed to 15 floors.

 

Ikoyi Building Collapse: Sanwo-Olu inaugurates six-member panel to
investigate cause of collapse

The Lagos State Government is however probing the collapse and the
Governor vowed to deal with saboteurs.

In a swift reaction, Governor Babajide Sanwo-Olu on November 4
inaugurated a six-member panel of inquiry to investigate the cause of
the collapse of the 21-storey building in Ikoyi, Lagos.

Mr Sanwo-Olu inaugurated the panel at the headquarters of the Lagos
State Waterways Authority (LASWA) at Falomo where members of the panel
would be sitting.

The governor also signed an executive bill to give legal backing to
the panel during their period of sitting.

The panel was chaired by Toyin Ayinde, the president of the National
Institute of Town Planners.

Other members of the panel are Akintilo Idris; Yinka Ogundairo, an
architect; Godfrey Godfrey, a builder; Bunmi Ibraheem, and Ekundayo
Onajobi, the secretary of the panel.

But up till the close of the year, no cogent actions have been taken
to forestall future occurrence.

 

 

Housing Development Advocacy Network, (HDAN) Unveiled Affordable
Housing Hall of Fame

For the first time in Nigeria’s history, the Housing Development
Advocacy Network, (HDAN) on December 10, 2021 unveiled Affordable
Housing of Fame where prominent individuals like Late Alhaji Lateef
Kayode Jakande, the former civilian governor of Lagos State, Late
Engineer S.O Fadahunsi, former President Nigerian Society of
Engineers, Late Sir Fortune Ebie , former President Nigerian
Institution of Estate Surveyors. They were posthumously inducted into
the affordable housing hall of fame for their unparallel and
invaluable contributions in pioneering affordable housing development
and advocacy efforts in Nigeria.

Similarly, Professor Akin Mabogunje, who clocked 90 years recently,
Prof Nuhu Timothy among others instituted into the Hall of Fame with
the overall intention to showcase and immortalize them for standing up
for affordable housing in the country.

According to the Executive Director of HDAN, Mr. Festus Adebayo, the
institution of the Hall of Fame is to appreciate well deserving
individuals who have contributed meaningfully to the growth of the
housing sector while recognizing other Nigerians whose legacies have
continued to inspire millions of people based on their impactful
contributions to affordable housing and development in the country

REDAN Signs MOU with Shelter Afrique

The Real Estate Developers Association of Nigeria (REDAN), signed a
Memorandum of Understanding with one of Africa’s largest housing
financing giant, Shelter Afrique at 2021 edition of the Abuja
International Housing Show, in Abuja, Nigeria.

According to the President of the Association, Alh. Aliyu Wammako, the
MoU comes at a time when the country and the world were in dire need
of convenient, accessible and affordable housing.

 

CBN Okays N200bn housing loan for low income earners

In September, the Central Bank of Nigeria, (CBN) announced N200
billion mortgage finance loan to Family Homes Fund (FHF).

The fund is for the building of 300,000 homes in the 36 states of the
federation and the Federal Capital Territory. It is also expected to
help create up to 1.5 million jobs in five years.

The CBN framework for the implementation of the Family Homes Financing
Scheme released yesterday indicates that the fund would be released
to FMF on project basis, subject to the cumulative maximum limit of
N200 billion.

According to the framework, the three-year term loan will enable
FHF finance the construction of social housing units for people on low
income at an interest rate not more than five per cent per annum (all
inclusive).

 

Works, Housing Minister, Fashola, Calls for Stoppage of Yearly Rent Payment

Minister of Works and Housing, Mr. Babatunde Fashola (SAN), restated
his call on Nigerian landlords to halt the practice of collecting
payments for rents in advance of one year or more.

The minister, who spoke during the 15th Abuja International Housing
Show (AIHS), convened by the Executive Director, Housing Development
Advocacy Network in Nigeria, Mr. Festus Adebayo, called on state
legislatures to put legislations in place to stop the development,
which has worsened Nigeria’s housing crisis.

He further argued that it remains a matter of morality, stressing that
it is evident that most houses available for sale or rent belong
mostly to individuals and private companies compared to those owned by
the states or the federal government.

 

Family Homes Funds Issues N10bn Bond — Nigeria’s First Corporate Sukuk

The Family Homes Funds Limited has issued a seven-year N10 billion
corporate Sukuk, the first ever in the country. This is the first
Sukuk to be registered by the Securities and Exchange Commission (SEC)
and certified by the Financial Regulation Advisory Council of Experts
(FRACE) of the Central Bank of Nigeria (CBN).

The development marks Family Homes Funds debut in the country’s debt
capital markets.

The issue for a seven-year and 13 percent bond will be due in 2028
under Family Homes Fund N30 billion Sukuk programme.

Sukuk is a bond that complies with Islamic religious law, commonly
known as Sharia.

 

Ogun, Seven Others Get N30bn for Housing Schemes

The Managing Director of Nigeria Mortgage Refinance Company, (NMRC),
Kehinde Ogundimu, says N30bn has been expended on housing schemes in
Ogun and seven other states.

Ogundimu who stated this after inspecting the Prince Court Estate
located in Kobape financed by the company through Gateway Mortgage
Bank Limited.

Ogundimu said the states including Ogun, Lagos, Rivers and the FCT had
accessed N30bn in the last four years.

He said the NMCR recently provided N1bn to over 200 Ogun civil
servants intended to participate in the state housing scheme of the
government.

 

Nigeria Green Building Pioneers Share Experiences at IFC EDGE Event

Towards celebrating early adopters and encouraging housing industry
players to adopt sustainable building practices, the International
Finance Corporation’s (IFC) EDGE in November brought together
champions of green buildings in the Nigerian real estate industry to
share their experiences in Lagos.

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