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A primary mortgage bank, Resort Savings and Loans Plc, has unveiled plans to provide mortgage facilities for youths within the ages of 25 and 40 years to become homeowners. The bank said in a statement on Sunday that it was poised to help people in the age bracket with facilities that would enable them achieve their home ownership dream through its new product: ‘Early Home Owner’. The Managing Director, Resort Savings and Loans, Mr. Abimbola Olayinka, was quoted as saying that the product had been made available to members of staff of the bank in a pilot scheme, adding that the result of the test gave birth to the idea of presenting it to the youth. He said, “The ‘Early Home Owner’ requires every customer to make a minimum equity contribution equivalent to 20 per cent of the value of the property to be purchased, subject to a maximum mortgage loan amount of N6m. “The equity can be paid over a 12-month period within which the customer is expected to maintain consistent bankin

Stakeholders in the housing sector have called on the Federal Government to strengthen the Federal Housing Authority for effective social housing delivery in the country. Participants at a one-day management retreat of the FHA, who made the call, also urged the government to transform the organisation into a housing regulatory agency for a better control of the sector. A communiqué issued at the end of the retreat stated that the participants believed that the transformation of the agency would enable it to make better impact as the government’s foremost housing agency. “Participants noted that the proposed private sector-driven Federal Housing Corporation, which the Bureau of Public Enterprises’ reform document recommended for incorporation as the successor entity to the FHA should inherit the commercial housing component of the authority’s mandate,” the communiqué read in part. It added that the retreat was declared open by the Minister of Lands, Housing and Urban Developmen

The Federal Government has spent N350bn on road projects in the South-West in the last four years, an amount it says is the highest among the six geopolitical zones. According to the government, 46.6 per cent of projects awarded by the present administration since it took over in 2011 have been completed and appreciable progress recorded in others. The Minister of Works, Mr. Mike Onolememen, stated this during a radio programme monitored by our correspondent in Abuja. He said, “All over the country, the Jonathan administration has completely changed the narrative in the road sector. From the North-East, where we are investing over N320bn in road infrastructure, to the North Central where we are investing about N300bn; the North-West, where are investing N200bn, the South-East, where we are investing N345bn; to the South-West, where we are investing close to about N350bn; and to the South-South, where we are investing about N250bn, the whole country has virtually been turned into

In a bid to ensure a successful implementation of the National Integrated Infrastructure Master Plan, the Federal Government has identified four options, including the pension fund, to finance some priority projects contained in the plan in the next five years. The funding options are contained in the NIIMP document, a copy of which was obtained by our correspondent in Abuja on Friday. A total of $140bn will be generated for the project through the four funding sources, according to the document. The report showed the bulk of the funds would come from government loans, which could finance up to $76bn; the government budget would be expected to provide $31bn of the infrastructure projects. The document also indicated that other government-controlled sources such as the Sovereign Wealth Fund or pension fund would offer $13bn of the financing while the Public Private Partnerships would be developed to offer between $15bn and $20bn from the private sector. The NIIMP, which is a

Thousands of people gathered outside City Hall on Saturday to demand Boris Johnson urgently tackle the lack of affordable housing in the capital and curb the spiralling rents that they warn are “ripping the heart” out of London. An estimated 2,000 encircled the building and urged the mayor to tackle the burgeoning housing crisis by building more council homes, control private rents and called off the proposed demolition of properties on up to 70 London estates. The crowd marched in boisterous spirits, confident that they can make the increasingly divisive issue of housing a genuine general election battleground. Reduced benefit cap would 'force large families out of the south-east' Leading the march as it crossed Tower Bridge in driving rain was Jasmin Stone, from Newham in east London, who chanted “social housing not social cleansing” with her friends. The 20-year-old single mother said skyrocketing rents and unscrupulous landlords had already forced a n

Nigerians have knocked the Federal Government for its fresh promises which include generating 10,000 megawatts of electricity by 2016. The public criticisms followed a statement made by the Minister of Power, Prof. Chinedu Nebo, that the Federal Government had shifted its earlier target of generating 6,000MW of electricity before the end of 2014 to this year. Nebo also said the Federal Government expects to GET up to 10,000MW by 2016 and 12,500MW by 2017. In reaction to the statement, a cross section of Nigerians who spoke to Power Talkback, expressed disappointment with government’s failure to ensure stable power supply in the country or keep to its promise of 6,000MW by the end of 2014, at the very least. Some of the respondents also accused the Federal Government of continually shifting its targets in the power sector. Meanwhile, a report published earlier this week said the country was currently losing 2,042.2 megawatts of electricity due to gas supply shortage and poor

PHPAC is an acronym of "PWAN HOMES PROPERTY ACCESS CONSULTANT'S ESTATE" & is powered by PWAN HOMES LTD(Property World African Network) Located in Eleranigbe, Ibeju-Lekki LGA. PHPAC Estate is about 12mins drive from Pan Atlantic University {P.A.U} and 13 mins drive from Eleko Junction. Plot size : 675 Sqm  or (60ft by 120ft) Prices : N450,000 per plot Outright payment.(Installment options available.) Type of land : Sandy & totally dry land. Title : Survey plan, Deed of Assignment, Gazette out soon. Unique Features : Parks & Gardens, laid out plots,Gated Community & Free from OMO-ONILES' interference. Neighborhood : The new International airport, Permanent site Pan Atlantic University, Lekki free trade zone, Sea port, Two Gulf Courses & several up coming Gated Estates. Offer closes 31st Jan. 2015(Limited plots applies) Also available are: 1.Lekki Villas, Bogije@N1,500,000=/plot. (Installment :N1,800,000= Document: Survey & deeds.