Business
FGSHLB Solicits More Funds to Provide Affordable Homes for Federal Civil Servants
…Inspects Housing Projects, Reaffirms Commitment to Affordable Homes
Joel Ajayi
In a renewed push to provide affordable housing for federal civil servants, the Executive Secretary of the Federal Government Staff Housing Loan Board (FGSHLB), Hajiya Salamatu Ahmed, has called for increased funding to accelerate ongoing housing projects across the country.
During a recent inspection tour of housing developments in Gwagwalada, Kuje, and Karachi within the Federal Capital Territory (FCT), as well as in Nasarawa State, Hajiya Ahmed reaffirmed the board’s commitment to delivering quality and affordable homes to civil servants.
She expressed satisfaction with the progress of the projects, particularly highlighting the Dukpa Gwagwalada site, which features 20 units of 3-bedroom apartments nearing completion.
The Kuje prototype project includes 48 units of 2-bedroom flats, six 3-bedroom flats, and six duplexes, while the Karachi project in Nasarawa boasts 45 units comprising 3-bedroom flats, 2-bedroom flats, and semi-detached bungalows.
“I am impressed with the quality of materials and the pace of work. We expect the estates to be ready for commissioning by June this year,” Ahmed stated.
Stressing the affordability of the homes, she noted that a 2-bedroom bungalow costs ₦17 million, a 3-bedroom flat ₦22 million, and a 3-bedroom duplex ₦30 million—prices tailored to civil servants’ budgets. However, she emphasized that funding limitations remain a major obstacle.
“We are only able to execute these projects in phases due to limited funding. To meet the growing demand and expand to other states, we urgently need more financial support,” she appealed.
She also pointed out the challenges faced by many civil servants who reside far from their workplaces due to high rent in Abuja, resulting in heavy transportation costs and financial strain.
Ahmed explained that while the board relies solely on annual government budget allocations, attempts to secure private sector funding have not materialized due to high-interest rates, which are unaffordable for civil servants earning modest salaries.
“A 10-15% interest loan is not feasible for a level 8 civil servant earning just over ₦100,000 monthly. Through our scheme, loans are offered at just 3% interest, with convenient salary deductions,” she noted.
Highlighting the importance of land availability in reducing construction costs, Ahmed commended the provision of free land in Gwagwalada and called on other states to follow suit to enable wider access to affordable housing.
She concluded by urging the government to prioritize increased funding for FGSHLB, stating: “Every federal government worker deserves a decent home. With better funding, we can make this a reality for more civil servants across the country.”
At the Kuje project site, developer Mr. Rotimi Fasan confirmed that infrastructure such as roads, water systems, green spaces, and sewage facilities are already in place and ready for use.
The projects are being executed under the FISH Programme—an initiative of the Office of the Head of Civil Service of the Federation (OHCSF) which aims to provide affordable housing for civil servants through coordinated efforts involving land allocation, inter-ministerial collaboration, and infrastructure support.
While assuring the timely completion of the Karachi Housing Unit, the Project Manager, Felix Oluwatosin Arowowade, pledged that all 45 units would be ready by the end of June.
“We have developed a functional road network, a water system, green areas, and a playground for children. As you can see, work is progressing steadily, and by the grace of God, the Karachi Housing Unit will be ready for commissioning by the end of June,” he stated.
Business
FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools
By Joel Ajayi
The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.
Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.
He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.
Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.
“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.
A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.
He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.
Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.
Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.
Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.
The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.
Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.
International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.
“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.
The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.
With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.
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