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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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May Day: Senator Manu celebrates with Nigerian workers

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The Senator representing Taraba Central Senatorial District, Manu Haruna celebrates May Day with Nigerian workers in Taraba and across Nigeria.

Senator Manu in a congratulatory letter to all Nigerian workers said:

“Your labour towards building a virile nation shall never be in vain as you celebrate May Day today in Nigeria and across the globe.

The former Taraba State Deputy Governor acknowledged the invaluable contributions of workers across various sectors and emphasized their crucial role in driving the nation’s development and progress.

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He encouraged continued solidarity among workers while advocating for better working conditions, fair wages, and enhanced opportunities.

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Ibas Pledges Commitment to Workers’ Welfare

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The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ibas, has reaffirmed his commitment to improving the welfare of workers across the state.

This assurance was given during a meeting with the leadership of organised labour unions held at the Government House in Port Harcourt.

According to a statement issued by the Senior Special Adviser on Media to the Administrator, Hector Igbikiowubo, the meeting served as a platform for open and constructive dialogue on critical labour matters.

The statement outlined key areas of intervention currently being addressed by the government.

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These, he said, included the timely payment of salaries and pensions, as well as the resolution of salary arrears, with approval already granted for the payment of newly employed workers at the Rivers State University Teaching Hospital and the judiciary.

Similarly, he said medical workers in the local government areas would receive their proper wages.

He said the minimum wage was being implemented for all local government employees across the state.

The administrator also noted that his administration was currently reviewing challenges related to the contributory pension scheme, ahead of the July 2025 implementation deadline.

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Ibas disclosed that plans were underway to expand the fleet of intervention buses reintroduced to ease the transportation burden of workers.

On capacity building, the administrator announced that specialised leadership training for senior civil servants would begin within the next two weeks.

He also revealed that the government was actively considering the implementation of the N32,000 consequential pension adjustment, along with measures to clear outstanding gratuities owed to retirees.

While commending workers for their dedication to service, he called for continued collaboration with labour unions to ensure lasting industrial harmony in the state.

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According to the statement, the State Chairman of the Nigeria Labour Congress (NLC), Alex Agwanwor, expressed appreciation to the administrator for the steps already taken to promote workers’ welfare.

Agwanwor also lauded the government’s openness to dialogue and pledged the sustained support and cooperation of labour unions in achieving shared goals.

Meanwhile the NLC has directed its members in the state to observe the International Workers’ Day as a peaceful rally, which is expected to be held within the premises of the union, involving all affiliate unions, and would focus on advocating for the restoration of democratic governance in the state.

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Just In: Explosion rocks Borno military barracks

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Panic has gripped residents of Maiduguri, the Borno State capital, as multiple explosions rocked the Giwa Barracks in the early hours of Thursday.

The incident reportedly began at about 12:05 am, with residents in the vicinity forced out of their homes by the sounds of loud blasts and the sight of red flares lighting up the sky around the barracks.

While the cause of the fire is yet to be ascertained, residents living in the area confirmed that the blast came from the armoury area

One of the residents, Rakiya Garba, confirmed the presence of men of the fire service, with sirens sounding all around the area

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“We are safe, but we are in fear. The explosion is coming from inside the barracks. It is not an attack because we are not hearing gunshots.

“However, it has been a sporadic explosion,” she confirmed

Meanwhile, the Deputy Governor of Borno state, Dr Umar Kadafur, has called for patience, saying that the explosion is a result of a fire incident that erupted at an Armoury of Giwa Barracks

He dismissed reports speculating that it was a Boko Haram attack.

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He encouraged everyone to remain indoors, as security operatives are on top of the situation.

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