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Nigeria’s Bold Push to Bridge the Housing Deficit and Empower Citizens
By Victor Benjamin, West / South South Director, YP4T
Nigeria stands at a critical juncture in its journey towards providing adequate shelter for its burgeoning population. The stark reality of a 20 million unit housing deficit casts a long shadow, impacting not just individual well-being but also the nation’s socio-economic progress. Recognising the urgency and scale of this challenge, the administration of President Bola Ahmed Tinubu has unveiled a comprehensive and ambitious strategy under the Renewed Hope Agenda, placing affordable housing within reach for millions of Nigerians. This multi-pronged approach, spearheaded by the Renewed Hope Housing Initiative and bolstered by innovative financing mechanisms, offers a beacon of optimism in a sector long plagued by systemic obstacles.
For too long, the dream of homeownership has remained elusive for a significant portion of the Nigerian populace. Several interconnected challenges have contributed to this protracted crisis. Sky-high property prices, often driven by land speculation and exorbitant construction costs, place housing far beyond the reach of average citizens. Compounding this issue is the underdeveloped state of the mortgage market. Access to long-term, affordable financing remains limited, with high interest rates and stringent eligibility criteria effectively excluding a vast majority of potential homeowners. The informal nature of a significant portion of the economy further complicates matters, as many individuals lack the formal employment and consistent income streams often required by traditional mortgage lenders.
Furthermore, infrastructural deficits across the country exacerbate the housing problem. Inadequate road networks, unreliable power supply, and limited access to clean water and sanitation not only make new developments more expensive but also detract from the quality of life in existing residential areas. The bureaucratic hurdles and complexities associated with land titling and approvals also contribute to delays and increased costs for developers, ultimately impacting affordability for buyers.
Against this backdrop of formidable challenges, the Renewed Hope Housing Initiative emerges as a significant and potentially transformative intervention. Its three core components – the Renewed Hope Social Housing Programme, the Renewed Hope Housing Estates, and the Renewed Hope Cities – are strategically designed to cater to different segments of the population and leverage diverse funding models.
The Renewed Hope Social Housing Programme, with its ambitious goal of constructing 100 units in each of the 774 local government areas within a year of launch, directly addresses the needs of the most vulnerable. By earmarking 80% of these homes for local residents earning a living wage, with monthly contributions capped at a third of their income, the program prioritises affordability and accessibility for low-income earners. The allocation of the remaining 20% to the most vulnerable citizens, free of charge, underscores a commitment to social inclusion and providing a safety net for those most in need. The inclusion of essential amenities like schools, clinics, and security outposts within these estates further enhances their liveability and fosters community development.
The Renewed Hope Housing Estates, targeting state capitals with a plan to build 250 units in each of the 30 states, represent a crucial step towards providing more affordable housing options in urban centers. Leveraging government budgetary allocations, infrastructure subsidies, and free land from state governments allows for significantly lower pricing, with one-bedroom apartments ranging between N8 million and N9 million. This initiative aims to bridge the gap for individuals and families with modest incomes who aspire to homeownership in urban areas.
The Renewed Hope Cities, developed through Public-Private Partnerships in seven strategic locations, tap into private sector expertise and capital to deliver large-scale housing projects. While the resulting prices are higher, reflecting the private developers’ investment in land and infrastructure, these cities are expected to offer a wider range of housing options and contribute significantly to reducing the overall housing deficit. The ongoing construction of 3,500 units in Lagos and Kano demonstrates the tangible progress being made under this component.
Complementing these direct housing programs is the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), a critical enabler for sustainable and affordable housing finance. The successful pilot fundraising, securing N250 billion, underscores the confidence of institutional investors in this innovative approach. MREIF’s ability to provide long-term, low-cost mortgage financing at interest rates as low as 12% with extended repayment tenors up to 20 years directly tackles one of the most significant barriers to homeownership in Nigeria. Furthermore, by offering off-take guarantees to developers, MREIF helps de-risk large-scale projects and unlock crucial financing. The integration of MREIF with commercial banks, mortgage providers, and developers promises to create a more robust and efficient housing finance ecosystem.
The vision underpinning the Renewed Hope Housing Initiative is one of a Nigeria where decent and affordable housing is not a privilege but a right accessible to all citizens. By adopting a multi-pronged approach that addresses the diverse needs of the population and leverages both public and private sector resources, the government aims to not only bridge the housing deficit but also stimulate economic growth, create jobs, and foster social stability. Empowering low-income earners with affordable housing options can improve their quality of life, provide a foundation for wealth building, and contribute to a more equitable society. Similarly, enabling middle-income families to access affordable mortgages can unlock their economic potential and contribute to overall national development.
While the Renewed Hope Housing Initiative holds immense promise, its success will hinge on effective implementation, transparency, and sustained commitment. Addressing the underlying challenges of land administration, infrastructure development, and bureaucratic efficiency will be crucial for ensuring the long-term sustainability and impact of these programs. Nevertheless, the bold vision and the comprehensive strategy embodied in the Renewed Hope Agenda offer a renewed sense of optimism that Nigeria is finally embarking on a transformative journey towards housing its citizens and building a more prosperous and inclusive future.
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Interswitch Group Founder, Mitchell Elegbe Rejoins Global Jury for 2026 EY World Entrepreneur of the Year Awards Grand Finale in Monaco for the 3rd Consecutive Year
…makes history, becoming the first and only entrepreneur globally to have won in both emerging and master categories in any region in 40 years, and invited to global jury for the 3rd year running
LAGOS, Nigeria, June 01 2026: Mitchell Elegbe, Founder and Group Managing Director/CEO of Interswitch Group has again been re-appointed as the only entrepreneur from Africa into the global jury of the 2026 Ernst & Young (EY) World Entrepreneur of The Year Awards, which takes place annually in June in Monte Carlo, Monaco, for the third consecutive year, following his inaugural jury duties at the 2024 awards. According to EY, the World Entrepreneur of the Year Hall of Fame is an elite corps of men and women who have been recognized for their exceptional entrepreneurial achievements. For 40 years, since 1986, EY has been celebrating ingenuity through the Entrepreneur of the Year program. “The program has recognized more than 10,000 outstanding entrepreneurs for their vision, innovation, courage, and leadership in building and growing successful businesses — businesses that influence the way people live, the products and services we depend on, and the economic vibrancy of our local communities and global markets.” In June of 2023, Elegbe, alongside 48 other accomplished entrepreneurs from 45 countries across the world were inducted into the 2023 WEOY Hall of Fame, with Interswitch’s Elegbe holding the unique distinction of being the only black and African global finalist and inductee into the coveted hall of fame, as well as the only entrepreneur in the 40-year history of the awards to have won in both the emerging and master categories at various times in their region (West Africa). For the 2026 edition of the global awards, Elegbe has been re-invited by EY’s global leadership to join the global jury being 1 of 9 former finalists who form the judging committee for the 2026 global awards of the initiative, holding annually in Monte Carlo, Monaco. The 2026 jury is made up of accomplished entrepreneurs, all former regional winners drawn from Australia, Brazil, Germany, Hong Kong & China, Nigeria (Elegbe), Singapore, The United Kingdom, and The USA. Mitchell Elegbe is widely regarded as one of the pivotal architects of Nigeria’s payment innovation revolution and has gained acclaim globally for his contributions as an exceptional African entrepreneur, who has contributed in no small measure to the economic development of Nigeria and Africa as a whole, having distinguished himself in business leadership and technology development. A multiple award-winning professional and a renowned business leader in the Information Technology and Financial Services industry, he has won several awards, some of which include Harvard Business School Association (Nigeria) Leadership Award in the General Management Category; African Banker Awards 2019 as the African Banker Icon; CNBC/Forbes All African Business Leader (AABLA) Awards for West Africa as well as Financial Technology (Fintech) Africa Awards, Payments and Transfer category in 2016, among other deserving recognitions. He is also a Bishop Desmond Tutu Fellow of the African Leadership Institute, an Endeavor Entrepreneur and also a member of the Board of Endeavor in Nigeria. Mitchell Elegbe founded Interswitch in 2002 to provide a solution to problems associated with payments in Nigeria and has since led the company to consolidated growth as a leading payment and digital commerce company that helps to build and manage payment infrastructure and provides robust technology-based solutions to individuals, financial institutions, and governments across Africa. See the full list and profiles of the 2026 Global Jury Members for the EY World Entrepreneur Of The Year Awards here https://www.ey.com/en_gl/weoy/judges
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Fidelity Bank to Drive SME Growth with Quarterly Business Forum
Leading financial institution, Fidelity Bank Plc, is set to launch a strategic engagement platform aimed at promoting the growth and sustainability of small and medium enterprises across Nigeria.Known as the Fidelity Quarterly Business Forum, the initiative is designed to bring together SME business leaders, founders, policymakers and industry experts to discuss business opportunities, economic trends, innovation and sustainable growth strategies.Speaking on the initiative, Ugochi Osinigwe, Divisional Head, Small and Medium-scale Enterprises, Fidelity Bank Plc, said the forum reflects the bank’s commitment to delivering a wide range of initiatives that support the growth of small businesses in Nigeria.“Our Quarterly Business Forum is part of our regular engagement with small businesses across the country. As you may know, Fidelity Bank is a leading supporter of SMEs through numerous financial products, and a strong advocate of a multi-dimensional approach to helping them succeed.“Through this initiative, the bank will host engagements with businesses across the country to strengthen their capacity, encourage networking and provide relevant advisory support to help them navigate the evolving economic climate and achieve profitability,” Osinigwe said.The maiden edition of the forum is scheduled to hold in Port Harcourt, Rivers State, on Wednesday, 3 June 2026. It will feature a range of activities, including a keynote address titled “Scaling Trade and Distribution Businesses for Sustainable Growth”, to be delivered by Pamela Shodipo, Executive Director, South, Fidelity Bank Plc.This will be followed by a Business and Economic Outlook presentation themed “Doing Business in a Trade Driven Economy”, to be delivered by Okechukwu Ugoji, Group Head, SME, Fidelity Bank Plc.The session will conclude with a networking event designed to foster valuable relationships among participants and encourage mutually beneficial business opportunities.The Fidelity Quarterly Business Forum adds to the range of innovative solutions introduced by the bank to support sustainable business expansion. It will be recalled that Fidelity Bank established a dedicated physical facility for small and medium-scale enterprises and entrepreneurs in the creative sector, known as the Fidelity SME Hub, in Gbagada, Lagos State.Through the hub, the bank provides entrepreneurs with networking and stakeholder engagement opportunities, as well as access to industry experts and mentors for practical guidance and business advisory support.Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards
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Rescue Mission @ 3: How Governor Dauda Lawal Dragged Zamfara Back from the Abyss
By: Oladapo Sofowora
Three years ago, Zamfara State was not merely a place on the Nigerian map; it was a global byword for the darkest extremes of human and governance failure. To call the name “Zamfara” in any public gathering, anywhere across the world was to invite a sharp intake of deep breath followed by an unassuming shake of the head. It was formerly a state where school gates had become rusted relics, where hospitals were hollowed-out shells dilapidated and where the only booming economy was the dark, bloody trade of banditry and insurgency. But when Dr Dauda Lawal placed his hand on the Holy Qur’an on May 29, 2023, he did not inherit a government; he inherited a graveyard of unfulfilled promises. The civil service was a ghost of itself; unstructured and underperforming, groaning under the weight of unpaid salaries and gratuities stretching back over a decade. The state’s treasury had been bled dry, with an astonishing backlog of debt, including a suffocating ₦2.7 billion owed to the West African Examinations Council (WAEC) and the National Examinations Council (NECO); a debt that had cruelly barred thousands of innocent Zamfara State pupils from sitting for their final exams and progressing to tertiary education. Insecurity was apocalyptic; rural communities had been abandoned, entire local government areas were under the effective control of non-state actors and the proud agrarian identity of the state ‘Farming is Our Pride’ had been replaced by the grovel of internally displaced persons begging for a handful of grains. This was the hellscape that Lawal walked into for the first few months, even his most optimistic supporters wondered if the former banker had made a catastrophic error in judgment. Instead of complaining and playing the blame game as many of his peers do, he folded his sleeves and went straight into the rescue mission. Rebuilding brick by brick, reforming strategically and effecting holistic change across board, three years later, as the sun rises over the newly constructed terminal of the Gusau International Airport and the sound of children reciting lessons echoes from over five hundred renovated schools, the verdict is undeniable: Dauda Lawal did not come to manage Zamfara; he came to rescue it and he has delivered a performance so startling that it has forced even his fiercest political rivals to stand and applaud him for a job well done. What seemed like an Herculean task was a piece of cake for him because he came with a will and can-do spirit, and his love for his people helped him navigate the tides. Let us start with the most brutal wound; security. When Lawal campaigned on the promise of a “Rescue Mission,” the cornerstone was his vow to dismantle the ‘banditry economy’ that had turned farming into a death sentence. The previous approach had been a confusing mess of negotiations with criminals, which only emboldened the outlaws. Lawal, bringing the precision of a forensic auditor to the battlefield, did something unprecedented; he treated security like a strategic investment portfolio; he gave teeth to the security apparatus. The Governor dramatically raised the stakes by operationalizing and heavily funding the Zamfara Community Protection Guards, known locally as Askarawan Zamfara. These were not vigilantes; they were a disciplined, state-backed auxiliary force recruited from local communities who knew the terrain very well, the caves and the escape routes of the bandits. To support them and the regular military, Lawal’s administration donated over 140 brand-new, high-capacity operational vehicles equipped with modern communication gadgets, ensuring that for the first time, security agents could match the mobility of the criminals. He invested in sophisticated intelligence-gathering technology, creating a situation room in Gusau that monitors real-time movements across the fourteen local government areas. The results have been staggering. Within eighteen months, the bandits lost their strategic freedom of action. Farmers who had not seen their ancestral lands in four years were suddenly escorted back by combined teams of soldiers and guards, clutching subsidized seedlings and bags of fertilizer provided by the government for wet-season and dry-season farming. The famous rice and maize fields of Maradun and Anka which were once deserted are now green with harvest. The Governor understood a basic truth you cannot eat security, but you cannot farm without it. By breaking the siege on rural Zamfara, Lawal did not just save lives; he resurrected the state’s economy from the root upwards. The wailing of mothers who had lost sons to banditry has not stopped entirely, but it has been largely replaced by the hum of grinding machines and the laughter of children playing in villages that were once classified as “no-go areas.”But what is a secure community without an educated mindset? The statistics Lawal met upon arrival were enough to make any compassionate leader weep. Thousands of students had been locked out of their futures because the previous administration simply refused to pay examination fees. Young girls, in particular, had been pushed into early marriage because their parents saw no point in sending them to dilapidated, teacher-less schools. Lawal declared a State of Emergency in Education on his second day in office and unlike the hollow declarations of the past, he backed it up with actions and the state’s treasury. The first thunderbolt was the payment of the ₦2.7 billion WAEC and NECO debt, a move that instantly liberated the results of over 45,000 students. That single act of fiscal responsibility changed the trajectory of an entire generation as students’ results were released. But Lawal did not stop at paying debts. He launched a massive, unprecedented infrastructural blitz. In three years, over 500 schools from primary to secondary have been either completely reconstructed, renovated or equipped with modern furniture and learning aids, replacing the broken chairs and mouldy chalkboards with over 9,542 new two-seater desks. He went further, recruiting over 2,000 qualified teachers, ending the absurdity of one teacher managing a class of 120 students. He also tackled the rot in tertiary institutions; the Zamfara State University and the College of Health Sciences and Technology received not just facelifts but functional laboratories, libraries and hostels. The 2025 budget, a towering ₦79.6 billion allocation to education, is not an expense; it is a declaration that Zamfara will never again be a state of illiterates; rather it will be a state where intellectual giants and sound minds will be moulded. Parallel to the educational revolution, Lawal launched a surgical strike on the healthcare sector, which had become a death trap for the poor. When he toured the General Hospitals in Gusau and Anka shortly after inauguration, what he saw reportedly upset his stomach. Maternity wards without mattresses, operating theatres without power supply and pharmacies without a single tablet of medication. The Governor’s response was a systematic, ward-by-ward renovation of the state’s health infrastructure. The Yariman Bakura Specialist Hospital in Gusau has been transformed into a gleaming referral centre, equipped with digital X-ray machines, a functional dialysis unit, an MRI Machine deployment and a steady supply of essential medications. General hospitals in Kaura Namoda, Maru and Maradun have been similarly upgraded, ensuring that a sick person no longer has to travel 200 kilometres to Sokoto, Kano, Kaduna and Abuja for a simple surgery. But perhaps the most humane intervention has been the health insurance rollout for the poorest citizens. Lawal’s administration has enrolled over 150,000 vulnerable women and children into the state’s health insurance scheme, meaning that for the first time, a poor mother in a remote village can take her child to a primary health centre and receive treatment without being asked for a dime. This singular act has slashed the maternal mortality rate in the local governments by a significant margin.Then there is the quiet revolution happening in the civil service, a sector often ignored by politicians but which Lawal understood as the engine room of government. He met a workforce that had lost all hope. Retired professors and permanent secretaries were dying without collecting their gratuities, leaving their families in penury. The backlog of unpaid pensions and death benefits stood at an astronomical ₦13 billion. In a move that sent shockwaves through the state’s bureaucracy, Lawal cleared that entire backlog within his first 15 months in office. He didn’t stop there; he introduced a 13th-month salary bonus for all active workers, a rare gesture that boosted morale and productivity. He also cleared the previously unpaid cooperative deductions that had been stolen from workers’ salaries, an act that made him a hero in the corridors of the secretariat. By treating civil servants with dignity, Lawal ensured that the machinery of government began to move again, processing files, issuing permits and collecting revenue with an efficiency that saw the state’s Internally Generated Revenue (IGR) skyrocket from a pitiful ₦80 million per month to over ₦5 billion. This financial discipline allowed him to fund his infrastructure ambitions without begging for federal bailouts. The signature project of this ambition is the ongoing construction of the Gusau International Airport, a massive, visionary project that will open Zamfara to global trade, connect local farmers to export markets and drastically reduce the cost of transportation for businesses. Complementing this airborne gateway, Lawal unveiled 50 modern mass transit buses, equipped with free Wi-Fi and digital fare collectors, slashing the cost of commuting for the average worker and student while modernizing the chaotic transport sector.As the sun sets on the third year of this remarkable tenure yesterday the 29th of May, the political landscape has shifted seismically. The opposition, which spent the first two years mocking Lawal has run out of insults. The evidence is too overwhelming. The students just received their WAEC results after a three-year delay, retired civil servants who finally received their ₦6 million gratuity after waiting for eight years are not going to vote for a return to the old ways. This is why the recent political development the endorsement of Governor Dauda Lawal as the consensus candidate of the All Progressives Congress (APC) for the 2027 election is not a surprise. What is stunning is the unanimity. In a rare, almost unprecedented show of political maturity, four former governors of Zamfara State Ahmed Yarima, Mahmuda Shinkafi, Abdulaziz Yari and Bello Matawalle gathered in Gusau to throw their weight behind Lawal’s second-term bid. These are men who have not agreed on a single issue in the past twenty years, yet they agree on Dauda Lawal’s re-election. This consensus is a powerful signal to the electorate that the era of destructive political rivalry is over and the era of collective development has begun.But why should the people of Zamfara re-elect Dauda Lawal for another four years? The answer lies in the unfinished symphony of his rescue mission. He has laid the foundation but the house is not yet completed. He has secured the rural areas but the bandits have not been annihilated; a second term would allow him to consolidate the security gains and finally flush out the remaining bandits from their hideouts. He has built the schools, but the first cohort of his revolutionary education reforms is just now entering their final year; a second term would see them graduate and move into the new technical colleges he plans to build. He has started the airport, but it needs to be completed and operationalized to attract the foreign direct investment that will turn Zamfara from a consumer state to a producer state especially in the agricultural value chain. He has cleared the pension backlog but he needs another term to build a sustainable pension fund that ensures no future retiree ever suffers again. To abort the rescue mission now would be like a surgeon stopping a life-saving operation halfway through because the patient is breathing again. The patient, ‘Zamfara’ is breathing but it is not yet running. Dauda Lawal is a goal-getter not a goal-celebrator. He has shown that he has the vision, the discipline, the grit, the capacity and the courage to stare into the abyss and command it to close. The choice for the people of Zamfara in 2027 is the simplest binary in Nigerian politics; return to the dark, bloody, bankrupt stagnation of the pre-2023 era or move forward with the man who proved that a rescue mission is not a slogan; it is a reality. If the last three years are a sample of what Dauda Lawal can do, then another four years will not just complete the good work; they will turn Zamfara into a beacon a testament to the power of determined leadership.
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Uncategorized1 day agoFidelity Bank to Drive SME Growth with Quarterly Business Forum
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Uncategorized1 day agoRescue Mission @ 3: How Governor Dauda Lawal Dragged Zamfara Back from the Abyss
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Uncategorized2 hours agoInterswitch Group Founder, Mitchell Elegbe Rejoins Global Jury for 2026 EY World Entrepreneur of the Year Awards Grand Finale in Monaco for the 3rd Consecutive Year
