Business

FG To Sell 753 Housing Unit Estate Seized From Emefiele

Published

6 months ago

May 23, 2025

…Experts back Dangote, BUA on cement price reduction for FG estates

By Yahaya Umar

Ministry of Housing and Urban Development has announced plans to sell the 753-unit housing estate confiscated from the embattled former Governor of the Central Bank of Nigeria ,CBN, Mr Godwin Emefiele.Disclosing this in a statement on Tuesday, the ministry said that the property was handed over by the Economic and Financial Crimes Commission ,EFCC, on Tuesday at the Ministry’s headquarters in Mabushi, Abuja.According to the ministry’s spokesman, Salisu Haiba, the Minister of Housing and Urban Development, Mr Ahmed Dangiwa, praised the EFCC for its sustained commitment to asset recovery and anti-corruption.“The Ministry of Housing and Urban Development has taken delivery of the 753 Housing Units Abuja housing estate of former Central Bank Governor, Godwin Emefiele, recovered by the Economic and Financial Crimes Commission”, the statement said.“This marks a significant milestone in our collective determination to ensure that recovered assets are put to productive use in ways that directly benefit the Nigerian people. The housing estate recovered from the former Governor of the Central Bank is a case in point”.He announced that the Ministry, in collaboration with the EFCC, will undertake a joint familiarization tour to assess the current state of the estate.“We intend to carry out thorough integrity and structural assessments on all buildings and associated infrastructure to confirm their safety and suitability for habitation”, he explained.“The Ministry will offer the units for sale both to the public and for special government needs. For the public sale component, we will adopt a transparent and competitive process. This will include nationwide advertisement and the use of the Renewed Hope Portal, where interested Nigerians can submit their Expressions of Interest”, Mr Dangiwa added.Meanwhile, Economic experts have said the moves by the Chairman of BUA Cement Plc, Abdul Samad Rabiu and the Chairman of Dangote Cement Plc, Aliko Dangote to slash cement prices of Renewed Hope projects will reduce the cost of owning homes.The CEO of NorthCourt Real Estate, Ayo Ibatu, and the Industrial Goods Analyst, Vevita Capita Management, Abigail Alabi, said this in reaction to moves by cement manufacturers.Last week, Dangote and Rabiu announced after a meeting with President Bola Tinubu that they would freeze any cement price increase for all contractors engaged in projects under the Federal Government’s Renewed Hope agenda.Dangote said, “We have decided that we are going to freeze the price of cement for any contractor that is involved with the Renewed Hope projects”.Similarly, Rabiu said, “There will be no increase for the foreseeable future. This is our contribution to support Mr President’s Renewed Hope Initiative”.Analysing the impact of the decision, the CEO of NorthCourt Real Estate, Ayo, said during an interview that the country faces an affordable housing challenge.Findings shows that the housing gap has grown to about 28 million.Ayo said, “They are committing as market leaders to take the heat despite circumstances that ordinarily“It is for a good course and it is restricted to Renewed Hope Estate contractors”.He argued that the deal needs monitoring to avoid abuse, which will discourage new entrants in the cement market.He said cement accounts for about 40% of building cost.“What this does is that it allows for long-term planning. We can do forward contracts and execute them quickly enough. We need to start seeing projects being done as a result of this commitment from market leaders.“The idea here is to aggregate these costs and then ensure that the funds saved are not held by the developers in terms of expanded profit margins but passed down to end users in terms of reduced pricing per unit of housing”.Industrial Goods Analyst at Vevita Capita Management, Alabi, said the development will affect the profit margins of cement makers.Abigail acknowledged that the decision of the cement producers will benefit Nigerians when it comes to the pricing of the affected projects.

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

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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