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Tag: beneficiaries

  • Sahara Foundation eyes 12m beneficiaries from programme

    Sahara Foundation eyes 12m beneficiaries from programme

    Sahara Foundation has adopted what it tagged ‘extrapreneurship strategy’ to drive integrated economic empowerment programmes.The programmes will see strategic partnerships and support for innovative, scalable business ventures where 12 million people are expected to benefit.

    Sahara Foundation is the corporate responsibility vehicle of Sahara Group, energy and infrastructure conglomerate with operations in power, downstream, midstream, upstream and Infrastructure sectors, and has presence in Africa, Europe, Asia and the Middle East.

    According to a statement by the firm’s spokesman, Bethel Obioma, over the next four years, Sahara Foundation plans to impact 12million beneficiaries and also create value through the identification, development and maintenance of relevant stakeholders through which beneficiaries can grow and sustain businesses. This will be achieved through skills acquisition training, mentoring and access to a network of committed stakeholders.

    Executive Director and Co-Founder, Sahara Group, Mr. Tonye Cole, explained that the core of the extrapreneurship framework is “to produce a platform that finds, creates and connects young ‘extrapreneurs’ in emerging markets”, adding that this would be achieved by leveraging on Sahara Foundation’s key strength of bringing together various committed stakeholders and promoting cross- sectoral collaboration.

    ‘Extrapreneurship’ involves creating value through leveraging internal and external strengths to drive cross-sectoral collaboration. This is made possible by connecting the right people and organisations towards providing sustainable solutions to global social problems.  Unlike entrepreneurship which focuses mainly in income generation, extraprenuership is centered on wealth creation and preservation.

    Cole said the shift in Sahara Foundation’s focus is modelled after Sahara Group’s strategy. “Sahara has evolved from a fledgling entrepreneurial business which began 20 years ago into a world class conglomerate with operations across the energy value chain including upstream, midstream, downstream operations. We have leveraged our network of committed stakeholders to expand the business, embrace opportunities and grow the franchise sustainably over the past two decades,” he added.

    Sahara Foundation aims to drive the extrapreneurship programme through the establishment of community/academic hubs and the social media. These platforms will provide resource materials and inspire networking and collaboration on a mass scale for local, regional, national and global beneficiaries.

    “You cannot even imagine the multiplier effect we are hoping to generate with the new model as young business owners are exposed to boundless opportunities that exist within the various hubs and our dedicated web portal where leading business individuals and organisations will be available to guide and link budding extrapreneurs,’’ Cole said.

  • Donor increases beneficiaries of scholarship

    Beneficiaries of the Olu Akeusola Foundation yearly scholarship awards has shot up to 18 as against 16 in the previous year.

    Also preference was granted to LA Primary School and Epe Grammar School in Epe where the celebrator Prof Olu Akeusola acquired his basic and secondary education.

    The auditorium of the Michael Otedola College of Primary Education (MOCPD), where the event held on Monday, last week, featured guests, students and beneficiaries who gathered to congratulate the professor of Comparative Grammar on his 54th birthday.

    On the rostrum is the celebrator’s elder brother, Olu Akeusola; MOCPED Deputy Provost Dr Sulaimon Popoola; Registrar Bola Shittu, and Bursar Alhaji Ghaniyu Ajose.

    For the celebrant however, the day provided him another platform to share his rags-to-riches testimony, and an opportunity to plough back to the world of the down trodden upon which he once treaded but survived.

    “I was born rich but grew up poor,” Akeusola recounted as he clutched the microphone.

    “Between age 22 and 29, when I was in the college (of Education), I tasted poverty. I had to survive by driving kabukabu. I could not pay my way through school until I had scholarships from Michael Otedola Foundation and Federal Government. So, if I did not have the privilege of driving kabukabu and getting those scholarships, I wouldn’t have been where I am today.”

    Akeusola said he insisted some beneficiaries of the scholarships must come from the two schools because that was where his academic foundation was laid, adding that he picked another five beneficiaries from MOCPED because it was when he assumed the leadership of the institution about six years ago, that he had a divine breakthrough career wise.

    Director of the Foundation Dr Cecilia Folashade Ojetunde, went down memory lane on how the foundation was conceived.

    “When Prof Akeusola celebrated his 50th birhday four years ago, the foundation was established to reward academic excellence through scholarships to children in Epe Division and its environs. At present, nearly 80 students have benefited from it, including undergraduates from Tai Solarin University of Education;  Olabisi Onabanjo University, University of Ibadan as well as ‘special needs’ children.”

    Ojetunde said scholarships for pupils in the primary schools  are worth N10,000; N20,000 for those in secondary schools; N30,000 for those in universities and N40,000 for the special children.

    Ojetunde said the foundation would not be rigid to more financial assistance from interested members and friends of the celebrant.

    Amid donations, cultural performances and music rendition by MOCPED students, Miss Ifekoya Deborah, a Basic 5 pupil of LG Central Primary School and one of the beneficiaries, was full of thanks to the foundation.

    “I want to thank the foundation for the cheque and the storybook (biography) of Prof Akeusola which I will read to know more about his life from poverty to success,” said  the11-year-old.

    Owadara Bukola Esther, a final year School of Science undergraduate of MOCPED, also sent in her prayers to the donor.

    “I’m very grateful to them (foundation). God shall continue to support them. I’m in my final year and this cheque would help me pay my school fees,” she said. eneficiaries of the Olu Akeusola Foundation yearly scholarship awards has shot up to 18 as against 16 in the previous year.

    Also preference was granted to LA Primary School and Epe Grammar School in Epe where the celebrator Prof Olu Akeusola acquired his basic and secondary education.

    The auditorium of the Michael Otedola College of Primary Education (MOCPD), where the event held on Monday, last week, featured guests, students and beneficiaries who gathered to congratulate the professor of Comparative Grammar on his 54th birthday.

    On the rostrum is the celebrator’s elder brother, Olu Akeusola; MOCPED Deputy Provost Dr Sulaimon Popoola; Registrar Bola Shittu, and Bursar Alhaji Ghaniyu Ajose.

    For the celebrant however, the day provided him another platform to share his rags-to-riches testimony, and an opportunity to plough back to the world of the down trodden upon which he once treaded but survived.

    “I was born rich but grew up poor,” Akeusola recounted as he clutched the microphone.

    “Between age 22 and 29, when I was in the college (of Education), I tasted poverty. I had to survive by driving kabukabu. I could not pay my way through school until I had scholarships from Michael Otedola Foundation and Federal Government. So, if I did not have the privilege of driving kabukabu and getting those scholarships, I wouldn’t have been where I am today.”

    Akeusola said he insisted some beneficiaries of the scholarships must come from the two schools because that was where his academic foundation was laid, adding that he picked another five beneficiaries from MOCPED because it was when he assumed the leadership of the institution about six years ago, that he had a divine breakthrough career wise.

    Director of the Foundation Dr Cecilia Folashade Ojetunde, went down memory lane on how the foundation was conceived.

    “When Prof Akeusola celebrated his 50th birhday four years ago, the foundation was established to reward academic excellence through scholarships to children in Epe Division and its environs. At present, nearly 80 students have benefited from it, including undergraduates from Tai Solarin University of Education;  Olabisi Onabanjo University, University of Ibadan as well as ‘special needs’ children.”

    Ojetunde said scholarships for pupils in the primary schools  are worth N10,000; N20,000 for those in secondary schools; N30,000 for those in universities and N40,000 for the special children.

    Ojetunde said the foundation would not be rigid to more financial assistance from interested members and friends of the celebrant.

    Amid donations, cultural performances and music rendition by MOCPED students, Miss Ifekoya Deborah, a Basic 5 pupil of LG Central Primary School and one of the beneficiaries, was full of thanks to the foundation.

    “I want to thank the foundation for the cheque and the storybook (biography) of Prof Akeusola which I will read to know more about his life from poverty to success,” said  the11-year-old.

    Owadara Bukola Esther, a final year School of Science undergraduate of MOCPED, also sent in her prayers to the donor.

    “I’m very grateful to them (foundation). God shall continue to support them. I’m in my final year and this cheque would help me pay my school fees,” she said.

  • 20, 000 beneficiaries of MTN Foundation count blessings

    In what may easily be described as a show of gratitude, scores of beneficiaries of MTN Foundation Empowerment Schemes across the country, especially the care and support for persons with disabilities have continued to count their blessings and good fortunes.

    One of such beneficiaries is Mrs Foluke Idowu, Chief Executive Officer, Independent Living for People with Disability (ILP), in Ibadan.

    Speaking in an interview, ILP boss said the MTN Foundation gives between 3,000 and 5,000 assisting devices in each of the phases of its assistance in partnership with the ILP, adding that 12 states were captured in each of the phase with over 20,000 beneficiaries.

    While lauding the MTN Foundation for the kind gestures, she said: “I have always advocated that as part of the corporate social responsibility for companies, there is need for them to invest in people with disabilities in their various communities.

    “I did an initial situation analysis and discovered that many people with disability lack mobility aids such as wheelchair, tricycles, and wheel machines among other items. Based on my findings, I wrote a proposal to MTN Foundation for an intervention for people with disability in 13 states of the Federation.

    “Fortunately, the proposal was accepted and the project has grown to be a yearly event beyond the initial 12 states including the FCT Abuja. For effective execution, we decided that 2 states in each geo-political zones and the FCT would be beneficiaries of the first phase with a steady spread across the remaining parts of the geo-political.”

    Mrs Idowu, who had been on the wheelchair for the past 30 years as a result of road crash, said with the assisting devices, some of the physically challenged could get employment, start their own businesses like shoemaking, selling recharge cards and being able to further their education while some could get married.

    Speaking on her partnership with the foundation, Mrs Idowu said she wrote a proposal intimating the foundation of many physically challenged lacking mobility aides and appliances such as wheelchair, tricycle, crouches, Braille machine and walking sticks, adding that after many evaluation and assessment, the proposal was accepted and expanded to cover all the states in the country.

    “One thing I could say I have achieved was to shift the focus of MTN Foundation’s corporate social responsibility to the need of the physically challenged.

    Going down memory lane, she recalled that the challenges faced while changing people’s perception about disability. “It is a very difficult one because it could be traced to the tradition, culture, ethics and belief of people. Some people believe that you experience disability because one is cursed or has sinned. There are so many reasons that surround the phobia and it makes it very difficult to change the perception of people about disability.”

    On the operations of the ILP, she said “In all the 36 states, we have the field officers that have been trained to collate data. We have vulnerability assessment form while we ensure reaches all the local governments in the country. We also interview those with disability to be sure of the aide to give and deliver it according to experts’ specification.”

    An elated Mrs Idowu who was effusive with praises for MTN Foundation said: “There is hardly no one that has ever been touched out of the over 20,000 beneficiaries that we have given mobility aids and assisted devices to. We first of all begin with the most vulnerable through the Vulnerability Index Assessment term, for instance, someone who cannot make use of the hands and legs is of higher priority than those who can.

  • Ogun at 40: Govt distributes 1,000 C of O to beneficiaries

    Ogun at 40: Govt distributes 1,000 C of O to beneficiaries

    The Ogun State Commissioner for Works and Infrastructure, Arch. Olamilekan Adegbite has distributed 1,000 Certificates of Occupancy to the 11th batch of Homeowners’ Charter Programme beneficiaries to mark the 40th anniversary of the state.

    Presenting the title documents to the elated beneficiaries at the Arcade Ground, Oke-Mosan, Abeokuta, Adegbite who was represented by the Director of Administration and Supply in the Ministry, Mr. Dolapo Adewunmi, said that thousands of people have become ‘’real landlords’’ under the Senator Ibikunle Amosun administration which showed that the state government was sincere and always stand by its words.

    He said the process of obtaining the documents was convenient and affordable for the citizens, noting that due process was followed in order for the exercise to be a success.

    ‘’In celebrating Ogun at 40, the present administration has worked hard to change the face of the State through Homeowners’ Charter programme and other notable projects such as the construction of Ogun Standard roads and flyover bridges, model schools, agriculture and rural development, youth empowerment, amongst others’’, he said.

    Arch. Adegbite further gave the assurance that other qualified applicants under the scheme would soon receive their title documents.

    Speaking earlier, the Permanent Secretary, Ministry of Urban and Physical Planning, Alh. Mufutau Adetimilehin said the benefits of Homeowners’ Charter Programme include elimination of ownership disputes and problems of land speculators ‘’Omoonile’’, promotion of an orderly and planned environment to mention but a few.

    Responding on behalf of the beneficiaries, Mr. Babatunde Soyombo, from Ijoko-Lemode area of the state said that the title documents are genuine, affordable and had made them authentic property owners.

  • ‘Name more beneficiaries of arms funds’

    ‘Name more beneficiaries of arms funds’

    The All Progressives Congress (APC) has urged former National Security Adviser (NSA), Col  Sambo Dasuki,  to release more names of the beneficiaries of the arms deal saga.

    The party, in a statement by its Director of Media and Publicity, Steve Otaloro, said there is more to the Dasuki’s $2.1 billion arms deal.

    “We believe that the large sum of money splashed on some youths by the Olusegun Mimiko-led government to coerce Southwest youths into the Jonathan project was sourced from the arms deals.

    “The youth conference for the Southwest was held in Akure where participants got $5,000 each.

    “This was one of the many fora organised by Governor  Mimiko as the Southwest co-ordinator of the Goodluck Jonathan project.

    “We are, therefore, calling on Col Dasuki to be forthright by releasing more names that will prove that the source of money distributed and used for these conferences was from the $2.1billion meant for the purchase of arms and ammunition to fight insurgency.”

     

     

  • Beneficiaries to get homes Sept. 30

    Beneficiaries of Mushin Housing estate under the Home Ownership Mortgage Scheme (HOMS) will be known by the end of this month, Lagos State Government has said.

    Ministry of Housing Permanent Secretary Mr Olatunji Odunlami, at a meeting with the prospective homeowners on Saturday, said the project was 95 per cent completed.

    The Ambode administration, he said, was also restructuring the scheme, adding that this is responsible for the delay in handing over the houses to their owners.

    He said work on the Sangotedo and Igando Housing schemes would soon be completed and delivered to the owners.

    Odunlami said arrangements were being made to engage facility managers to run infrastructure in the estates.

    Previous agreements on the houses, he said, would be implemented, adding: “Before the end of this month (September), our Mushin Project will be ready so that people can collect their keys. It is 95 per cent completed.

    “We will continue to work simultaneously on the Sangotedo and Igando schemes, Sangotedo is 60 per cent completed,’’ Odunlami said.

    The beneficiaries, Odunlami said, would be given update weekly and appealed for their understanding.

  • Beneficiaries praise Fed Govt’s internship scheme

    When Kinsley Nwoke who studied Banking and Finance graduated from the Federal Polytechnic Nekede, Owerri in 2005, his eyes were already glued to becoming a banker in short time.  He never got that dream attained until nine years after.

    Kinsley put his hand in everything, applied to many blue chip companies, including banks, to no avail. In 2008, he was recruited as a contract staff in one of the now defunct third generation banks.  He was relieved of the job a year after due to restructuring.

    Kingsley had no choice but to resort to doing all sorts of demeaning jobs as he was gradually ageing. He later took up teaching in various private schools around Igbesa area in Ogun State, on a meagre salary.

    He soon got married to a working class woman; they both pooled their resources to cater for their two children and meet other needs.

    Just like Kingsley, many graduates have had a lifeline courtesy of the Graduate Internship Scheme (GIS) under the SURE P of the Federal Government.

    Though introduced in 2012, Kinsley only heard about the scheme in October, last year and registered. Having gone through a three-day orientation by the Federal Ministry of Finance, as a prelude to the training, Kinsley is now optimistic of a brighter future.

    “This one will provide training for one year and I am combining it with the little experience that I have already to make my CV richer,” Kinsley told The Nation.

    He continued: “I am in Crawford University as an intern now.

    “I work in the Bursary where I issue cheques and register students. For me, the experience is a lot better than teaching. I was just teaching because there is nothing else for me to do. The monthly pay is also better than what I got as a teacher.”

    Kingsley said he was doing his best to prove his worth, hoping that the university would retain him at the end of the exercise.

    The Project Director, Mr Peter Papka, explained that programme was aimed at providing graduates with job experience and make them ideal for employment.

    “They will add it (job experience) to their CV to make it richer. Companies these days want to employ experienced people so we are giving them an avenue to gain it. Some interns will become employers at the end of the programme while others will be employed. The training, basically, is for interns to know what they are doing and how exactly to become entrepreneurs,” he said.

    Represented by Projector Auditor, Implementation Unit, of the ministry, Mrs Adesanya Christiana, Papka said the three-day event was an opportunity for interns to interface with employers. According to him, each intern is paid 30, 000 monthly.

    Mr Kunle Edagbemi, the Chief Executive Officer (CEO), Untimate Drycleaning Company, Ikeja, said he has six interns under him, adding that they were doing well.

    “We are into professional dry-cleaning. Some of the interns do marketing for the company. Some, especially those who studied Bio-Chemistry, work in the cloth treatment department where cloths are treated with chemicals and stains are removed,” he said.

    He said the interns who were  hard working and willing would be retained.

  • ‘Stop plans to replace Kwara SURE-P beneficiaries’

    •’Allegations baseless’

    Coordinators of the Subsidy Reinvestment Programme (SURE-P) in Kwara State have alleged plans by the Presidency to remove All Progressives Congress (APC) beneficiaries from the scheme.

    They alleged that the illegality was being perpetrated by the state Chairman of the scheme, Moses Ibiyemi.

    A statement read to reporters yesterday in Ilorin, the state capital, by Alhaji Kola Yusuf, who spoke for the coordinators, reads: “It is regrettable that the chairman of the state implementation committee has not only politicised the programme, but is plotting to clandestinely replace the names of the original beneficiaries with those of members of his party, the Peoples Democratic Party (PDP).

    “Reports reaching us as zonal coordinators confirmed the plot by the chairman to change the bank account in use for the payment of Sure-P workers’ salaries at Access Bank, as well as change the names of beneficiaries from various communities and replace them with his party members’ names in order to have illegal access to funds meant for their salaries.

    “As zonal coordinators, we always interact with our local government coordinators who supervise and coordinate beneficiaries at the local government and community levels.

    “It is sad to receive in their report that the chairman threatened to sack coordinators, supervisors and workers who belong to another party, except they join the PDP.

    “Beneficiaries across the state reported that the state chairman had been going about claiming that non-PDP members would be replaced with PDP members because the scheme was designed by the party and meant for PDP members.

    “We caution President Goodluck Jonathan against any attempt to use the Sure-P as a political weapon to foist himself on Nigerians. Funds accruable from subsidy removal belong to Nigerians, therefore, the beneficiaries are Nigerians, irrespective of their political affiliation, religious belief or ethnicity. The people are entitled to the right of association.”

    Ibiyemi described the allegations as baseless and unfounded, saying: “It is not true that there was a meeting or plan to replace APC members with PDP members because the programme is apolitical. There are situations that call for the replacement of beneficiaries, which include death, moving out of the project site, abandonment of duties, absence without authority and other gross misconduct by the beneficiaries.

    “For any of the beneficiary to be replaced, the community in which that beneficiary serves will have to make a report and such reports verified. If the allegation is found to be true, such replacement would be authorised by the national headquarters of the scheme.

    “One can, therefore, see that the press conference was a mischievous and calculated attempt to smear the image of Mr. President and the management teams. It is a case of ingrates biting the fingers that feed them.

    “It should be noted that Kwara State does not belong to a particular group of individuals but to all of us and nobody should threaten the other with violence, as this is not a monopoly of any group. We all own the state. I urge the people to remain calm and continue to enjoy the only benefit of democracy in the state brought by the president, as we have not replaced any beneficiary on the basis of belonging to the APC.”

  • Akwa Ibom indigenes seek review of Amnesty Office’s scholarship beneficiaries

    Many indigenes of Akwa Ibom are not happy with the Amnesty Office. Reason: they say the office’s recently released list of beneficiaries of one of its scholarship scheme is skewed against their state. They say the list did not reflect their state’s status as a major oil-bearer.

    One of those who have spoken against the list is the pioneer National Publicity Secretary of the Peoples Democratic Party (PDP), Senator Anietie Okon.

    During the week, he decried  the 254 names published by the Office of the Special Adviser to the President on Niger Delta as  the beneficiaries of the special scholarship programme for students from the Niger Delta.

    He said: “We are forced to question whether the Office of the Special Adviser on Amnesty is still representing the interest of the people of the region, given the persistent exclusivity that has become evident in the execution of the brief and mandate of the office.”

    Okon, a delegate representing Akwa Ibom State at the National Conference, reacting to the list, urged President Goodluck Jonathan to draw the attention of the Special Adviser on Niger Delta, Kingsley Kuku, to what he termed a grave and an unacceptable anomaly with its attendant capacity to undermine the intent and standing of governments and the leadership of the region.

    The office on August 1 published  a list of 254 people as the beneficiaries of the special scholarship programme for students from the Niger Delta, who passed the Unified Tertiary Matriculation Examination (UTME) and are qualified for admission into the universities.

    According to the list, of a total of 254 beneficiaries, Akwa Ibom got three; Bayelsa, 102; Cross River, three; Delta, 55; Edo, 10; Imo, 10; Ondo, 43 and Rivers, 28.

    Okon noted that it was embarrassing for a state like Akwa Ibom, the leading oil producing state, to be allocated only three; Edo State, the cradle of knowledge to get only 10, while Bayelsa got 102.

    He stressed that it was a confirmation of the narrow prismed understanding “of the dynamics of our political survival realities and an unfortunate exhibition of misplaced callous insensitivity as well as political naivety”, adding that the move was capable of  “damaging the cohesion and shared common interest of the people of the region.”

    He added: “It is a callous act of insensitivity and political naivety on the part of the Special Adviser on Niger Delta, to posit that justice and transparency prevailed where only three students from Akwa Ibom and Cross River states and 10 from Edo State enjoyed the scholarship. This can damage the purpose of the intervention initiative. It makes nonsense of the call for unanimity in the area. The mindless impunity implied is as grievous as it is equally pathetic.  How can they explain this absence of rationality? It is unacceptable. I demand that those responsible for this outrage get real.”

    The Ekid people of Akwa Ibom also flayed the list.

    In a letter to Hon. Bassey Dan-Abia jnr, member,representing Eket Federal Constituency

    House of Representatives, they said: “When we read the story, our first impression was to thank God almighty that you are still in the House of Representatives, contrary to the impression in the minds of our people in Eket(Eket/Onna/Esit Eket/Ibeno) Federal Constituency, that we have nobody in that hallowed “Green” Chamber since the 2012 eclipse.?

    ”Further note that, our concern in the story at hand is that of alarm and outrage. We can still not comprehend, how a member representing a core oil state, one that you rightly noted, holds the reputation as the highest oil producing state, would have stood by and the entire processes of award of scholarship for oil producing states are completed and published without even a slot for Eket Federal Constituency.?

    ”Aware that, the process may have commenced with the advertisement of the award, then proceeded to the stage of application, screening and then shortlisting of qualified applicants, before the announcement of those selected.?

    ”Further aware that, in all of these stages, our member never deemed it expedient to alert his people on what was going on. The youths of this constituency were never in any way informed of what was going on to enable them even apply.?

    ”Worried that, it appears our honourable member was held up in his infamous “bird house theatre of absurdities” when other representatives in the House,were lobbying for their people, only for him to wake up with a self-serving press statement when all the processes had been concluded.?

    ”Further worried that, we do not understand what you  as our honourable member sort to achieve by issuing an ineffectual press release, when you have all the legislative powers of oversight, appropriation and other instruments and network at your disposal to tame the angst. Not to worry; we understand. You cannot give what you do not have. Your belated show of Dutch-courage cannot fool anybody, because we are sure you don’t even know where the Amnesty(Kuku’s) office is located in Abuja.?

    “Regret to mourn with you the loss of yet another opportunity to invest in the lives of young people in our constituency and hasten to tell you that, we are not in the least surprised at this turn of event. Honourable member, why this sudden feeble attempt at “fighting” for your people? Where were you all this time when our constituency as a major oil bearing area has lost out in various other federal government initiatives meant for oil producing areas??

    ”Disturbed and want to know where you placed Eket Federal Constituency’s interest on the interventionist programmes by the same Amnesty office such as Overseas Special Scholarship Programme and Retooling/Skill Acquisition in Welding, Fabrication, Piloting, Instrument, payment of skill gap stipends? How far have you gone in the protection and actualization of the projects your predecessor facilitated in the National Budget including NTA Channel 35, Eket; 8no.Primary Health centres at Akpautong; Uquo; Edor; Etebi; Okat; Ikot Ntan Ide; Afaha Atai; Ikot Nkan, which contracts were awarded by the Primary Health Development Agency and equipment supplied; even as we continue to face challenging public health predicament in our Constituency?Again, what has happened to the Ntan Ide-Ikot Udo bridge, onna; Cross River Basin Irrigation and Canal farm at Onna;Upenekang e-library;the Federal Ministry of Environment Mkpok-Okat Erosion Control/Drainage Contract; agricultural infrastructure in Nduo Eduo, Eket.”

  • New mortgage scheme’s beneficiaries to access funds in 2014

    New mortgage scheme’s beneficiaries to access funds in 2014

    The first batch of beneficiaries of the new mortgage system being put together by the Federal Government in partnership with the states, will begin to access the low interest mortgages by the first quarter of 2014.

    To ensure that Nigerians on the lower rung of the economic ladder are not left out, the government is also focusing on mass housing, especially the lease-to-own-options.

    The beneficiaries will come from 14 pilot states.

    The Nation gatherd that the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, disclosed this at an interactive session with Governors and representatives from the pilot states, as well as representatives from the World Bank, DFID and other partner institutions in Abuja.

    It was learnt that Mrs. Okonjo-Iweala and her Housing counterpart, Ms. Amah Pepple, hosted the session with Governors Peter Obi of Anambra State, Adams Oshiomhole of Edo State, Isa Yuguda of Bauchi State, Kaduna State Governor, Yero and Rabiu Kwankwanso of Kano State, with the Deputy Governor of Plateau State in attendance.

    Mrs. Okonjo-Iweala told the Governors that it would take a while to finalise the modalities for a take-off of the scheme, but explaained that the President has given marching orders to ensure that Nigerians begin to enjoy affordable mortgage in no time, adding that the new mortgage initiative, is central to the President Jonathan’s vision of improving the economy and improving the welfare of the citizenry.

    “The benefits in terms of job creation and overall economic development are immense from mortgage companies, to building materials’ sellers, to brick layers and carpenters and mason,”she said, adding that when housing works, the whole economy works.

    When reminded about the bad experiences the customers of the Federal Mortgage Bank of Nigeria who contributed to past mortgage programmes and did not derive commensurate returns, Okonjo-Iweala assured the Governors “that strong measures are being put in place to ensure that the bad experiences of the past were not repeated in the forthcoming Mortgage Refinance Company (MRC).”