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NSIA Has Developed 500,000 homes For Low-income Earners – Managing Director

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By Gloria Ikibah
Managing Director of the Nigeria Sovereign Investment Authority, Aminu Umar-Sadiq, has said that the agency has developed 500,000 affordable homes to low-income families in Nigeria, through the Family Homes Fund.
The NSIA MD who stated this when members of the House Committee on Finance visited the agency on oversight duty on Wednesday, said that the NSIA had in 12 years, created 245,000 direct jobs across the diverse sectors of the economy as part of its contribution to national development.
Umar-Sadiq said about 236,000 farmers spread across the six geo-political zones of the country were supported through the implementation of the agency’s agricultural programmes.
He said, “Through its stake in Family Homes Fund, NSIA has significantly improved the quality of life of Nigerians from low-income families through the development of 500,000 affordable homes to low-income families in Nigeria.
“Additionally, NSIA continues to demonstrate its commitment to positive socio-economic outcomes through key platforms like the Nigerian Mortgage Refinance Company, through which it improves the liquidity of the mortgage market to further promote affordable housing in Nigeria.
“To revalidate its commitment to climate adaptive solutions, NSIA set up an innovative $500m Renewable Investment Platform for Limitless Energy to expand energy access, enhance energy efficiency and ensure energy security in Nigeria.
“RIPLE’s pilot initiative involves setting up a generation and distribution system to meet 70MW of unsuppressed energy demands in an area covering 9,000 connections.
“Through these interventions across key sectors, NSIA’s continues to enhance prevailing socio-economic reality and create value for the current and future generations of Nigerians.”
On Healthcare delivery, the MD stated that the agency had successfully completed three hospital projects with over 282,100 unique patients attended to and 150,000 chemotherapy sessions delivered since its establishment 12 years ago.
“Following the successful operationalisation of its three demonstration projects: NSIA-LUTH Cancer Centre, NSIA-Umuahia Diagnostic Centre and NSIA–Kano Diagnostic Centre; NSIA has commenced the healthcare expansion programme which aims to establish 23 modern medical diagnostic centers, three additional oncology centres and 7 catheterisation laboratories across the six geopolitical zones of Nigeria.
“The first phase of the programme is currently under way with the construction of 10 centres,” he added.
The Deputy Chairman, House Committee on Finance, Rep. Saidu Abdullahi, speaking with journalists that the visit was the first to the agency.
He said: “Year in, year out, we have always had huge deficits which made financing major projects in the country difficult. Nigeria has greater potential than what is going on in the country today and I hope we can close the gap. We have what it takes as a country and we cannot continue like this”.
He decried the non-profitability of sugar factories in the country, years after privitization.
He therefore directed the NSIA to increase its share of investment in agriculture, particularly in the sugarcane value chain, which according to him, is currently generating over $40bn annually for Brazil.

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Just in: WAEC releases 2026 WASSCE results as girls top boys in Maths, English

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…English and Mathematics:
641,631 candidates (32.89%) were female
558,883 candidates (28.65%) were male

The West African Examinations Council (WAEC) has officially released the results of the 2026 West African Senior School Certificate Examination (WASSCE) for School Candidates as girls top boys in English and Mathematics.

The release brings to an end weeks of anxious waiting for nearly two million candidates across Nigeria and parts of West Africa, who sat for the examination.

The examination body announced the development on Wednesday through its official X (formerly Twitter) account, directing candidates to generate their result-checking PIN and access their results online.
“UPDATE: 2026 WASSCE (SC) results have been released. Generate your PIN at http://waec.org and check your results now on http://waecdirect.org,” WAEC stated.
Speaking during a press conference in Lagos, the Head of the WAEC Nigeria National Office, Dr. Amos Dangut, disclosed that the council withheld the results of 167,486 candidates, representing 8.59 per cent of those who sat for the computer-based 2026 WASSCE for school candidates.
According to him, the affected results were withheld over alleged cases of examination malpractice and will remain under investigation until the council concludes its review.

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WAEC revealed that 1,959,668 candidates from 24,207 secondary schools registered for the examination conducted across Nigeria, Benin Republic, Côte d’Ivoire and Equatorial Guinea.
Out of those registered, 1,950,726 candidates eventually sat for the examination.
The council disclosed that 1,834,695 candidates, representing 94.05 per cent, have had their results completely processed and released.

However, the results of 116,031 candidates (5.95 per cent) are still being processed and will be released once the exercise is completed.
Over 1.2 Million Candidates Scored Five Credits Including English And Mathematics

WAEC’s statistics show that 1,200,514 candidates, representing 61.54 per cent of those who sat the examination, obtained credits and above in at least five subjects, including English Language and Mathematics.
Meanwhile, 1,687,378 candidates (86.50 per cent) secured credits in at least five subjects, irrespective of whether English Language and Mathematics were included.

Despite the strong overall performance, the council noted a slight decline in the number of candidates who achieved the benchmark five credits including English and Mathematics.
Also Read: Police foil kidnap plot, arrest two suspects, recover firearms in Delta
Compared to the 2025 examination, the pass rate dropped by 1.42 percentage points.
Female Candidates Outperformed Male Candidates

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WAEC also released a gender breakdown of the successful candidates.
Of the 1,200,514 candidates who obtained five credits, including English and Mathematics:
641,631 candidates (32.89%) were female
558,883 candidates (28.65%) were male
Overall participation also showed that female candidates slightly outnumbered their male counterparts.
According to the council:
997,267 females (51.12%) participated in the examination.
953,459 males (48.88%) sat for the examination.
With the release of the results, thousands of candidates are expected to begin admission processing into tertiary institutions, while those whose results were withheld will await the outcome of WAEC’s ongoing investigation into alleged examination malpractice.

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Just in: Ten days to guber election, EFCC freezes Osun govt First Bank account

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Ten days to the gubernatorial election in Osun State, the Economic and Financial Crimes Commission (EFCC) has frozen Osun State Government account domiciled with First Bank of Nigeria.Lagos News Updates

The account used for the payment of workers’ salaries, was placed on “Post No Debit” status by the anti-graft agency.

Though, this is coming after Governor Ademola Adeleke alleged that the EFCC was plotting to freeze the state’s accounts and those of top government officials.

In a statement issued on Wednesday by the Commissioner for Information and Public Enlightenment, Kolapo Alimi, Adeleke described the reported move as an attempt to cripple government activities ahead of the August 15 governorship election.

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He reiterated that there was no legal basis for freezing the accounts of the state government, arguing that the EFCC lacked the statutory powers to take such action.

Meanwhile, the EFCC is yet to issue an official statement in respect to the development.

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FG Reopens Portal For Nigerians To Obtain N50,000 Grant(See how to apply)

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Small business owners in Nigeria have a fresh opportunity to access government funding as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) reopens its Conditional Grant Scheme.

The programme provides qualified nano and micro enterprises with a one-off N50,000 grant that beneficiaries are not expected to repay.

The funding is intended to give small businesses additional resources to strengthen their day-to-day operations, invest in growth and increase their workforce.

However, the grant comes with a job creation condition. Businesses that benefit from the scheme are required to employ at least one additional worker.

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Why SMEDAN is offering the grant

SMEDAN designed the Conditional Grant Scheme to make financial support more accessible to small businesses, particularly enterprises that may find it difficult to obtain conventional business loans.

Unlike a loan, the N50,000 support does not attract interest or require repayment, provided beneficiaries meet the conditions attached to the programme.

The agency said the initiative is also aimed at encouraging entrepreneurship, improving productivity and supporting economic activity at the local level.

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The CGS should not be confused with the Presidential Conditional Grant Scheme. While the two programmes are separate, both provide N50,000 grants to qualifying nano businesses.

Which businesses does the scheme target?

The funding is primarily aimed at nano and micro enterprises operating within local government areas across Nigeria.

Information applicants need

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Business owners seeking the grant will have to provide personal and business details during the application process.

The information requested includes:

Applicant’s full name

Email address

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Phone number

Business name

CAC registration number, if applicable

Type of industry or business

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Years in business

Applicants should ensure that the details supplied are correct and correspond with their business information.

The grant is intended for legitimate business-related expenses that can help improve the performance of an enterprise.

Depending on their needs, beneficiaries can channel the funds towards:

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Equipment purchases

Technology improvements

The support is therefore designed to go beyond immediate cash assistance by helping businesses improve their ability to operate and compete.

Participants in the Conditional Grant Scheme (CGS) for micro enterprises receive financial assistance tailored to their business needs.

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These nano businesses get a sum of ₦50,000 grant on the condition of employing one person in order to encourage job creation.

Business owners interested in the N50,000 Conditional Grant Scheme should use the application portal designated by SMEDAN.

Applicants should carefully complete the registration process, provide accurate information and confirm that their businesses satisfy the conditions for participation before submitting their applications.
(VANGUARD)

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