UN urges all sides to ‘give peace a chance’ amid Iran-Israel conflict
About 600 Nigerians are now stranded in Iran which is currently locked in a military showdown with Israel.
The Federal Government says it is in the process of evacuating them home.
Also due for immediate evacuation by government are Nigerians stuck in Israel.
The number of the stranded Nigerians in Israel was not immediately available but it was gathered that 200 of the 600 stuck in Iran are students.
The Nation gathered that the Nigerian Embassy in Teheran is putting finishing touches to the evacuation arrangement.
The evacuees will first be moved to Armenia before heading home.
Foreign Affairs Ministry sources said yesterday in Abuja that the embassy in Tel Aviv was compiling the names of Nigerians stranded in Israel to guide it in its plan to get them out of danger as soon as possible.
Foreign Affairs Minister Yusuf Tuggar said on Thursday that government would carry out an emergency evacuation of Nigerians stranded in both countries on account of the ongoing hostilities between them.
Tuggar, in a statement by the ministry’s spokesperson, Kimiebi Ebienfa, also called for de-escalation of hostilities.
“The government remains committed to the safety and welfare of all its citizens, both at home and abroad,” Ebienfa said.
He added that the government was working closely with relevant international partners and local authorities to ensure proper coordination for a timely and secure evacuation.
UN to Iran, Israel: give peace a chance
United Nations Secretary-General Antonio Guterres yesterday urged the two countries to allow peace to reign.
Guterres told a Security Council session on the war that the situation should not be allowed to spiral out of control.
His words: “To the parties to the conflict — the potential parties to the conflict — and to the Security Council as the representative of the international community, I have a simple and clear message: Give peace a chance.
“We are not drifting toward crisis — we are racing toward it.”
“We are not witnessing isolated incidents — we are on course to potential chaos.
“The expansion of this conflict could ignite a fire that no one can control. We must not let that happen.”
5.2-magnitude quake rattles northern Iran amid Israel war
A 5.2-magnitude earthquake shook northern Iran yesterday amid the country’s confrontation with Israel.
The quake, which Iran’s Tasnim news agency said measured 5.2, struck at a depth of 10 kilometres (six miles) some 37 kilometres (23 miles) southwest of the city of Semnan.
Despite being thousands of kilometers away from home across the oceans and seas, Nigerians in Winnipeg, Canada, are ensuring they stay close to home. Through the Winnipeg Naija Trade Fair, they have continued to keep the Naija flame and spirit alive, OYEBOLA OWLABI writes.
Living outside one’s native home comes with its own challenges, especially in terms of food, dressing and other aspects of the culture. Nigerians in Canada are however staying true to their roots. In everything, they have not forgotten the hands that raised them, which gave them the resilience and boldness to be.
This was displayed boldly at the recent Winnipeg Naija Trade Fair. It was a taste of home in all its beauty and splendour. It was a statement which resonated through the length and breadth of Winnipeg that – ‘Naija no dey carry last’.
The people brought the real ‘Naija’ spirit to the fair. The hustle and bustle of the popular Balogun, Idumota, Tom Jones, Onitsha Main Market, among other markets in Nigeria, were in full display.
The fair was in sections – cooked food, clothing, jewelry, raw foodstuff, and others. The food court was of course the most bubbly, from Amala, gbegiri and ewedu, to ewa agoyin, to oha, ofe onugbu, ofe akwu, to mention a few, everyone got a reminder of home. Even children were not left out; they had their own section where they had fun on the bouncing castles and others.
The annual Winnipeg Naija Trade Fair started in 2024 and, according to the organisers, it promises to be a yearly event as an avenue to grow the Nigerian community in Winnipeg, especially small businesses.
Deputy Premier of Manitoba and Minister of Health, Seniors and Long-term Care, Uzoma Asagwara, praised the initiative. She said: “This reminds me of the vibrant markets back home in Nigeria. It’s a slice of home here in Manitoba and a powerful way to uplift local businesses.”
Founder of the Canada-Naija Business Hub and co-organiser of the Winnipeg Naija Trade Fair, Tolulope Adebayo, said the fair was an avenue to improve the lot of small businesses within the Nigerian community in Canada, particularly in Winnipeg.
Adebayo, who is also the founder of Brand Palour communications, a public relations and branding firm, described the fair as a testament to the fact that Nigerians can survive anywhere and through anything, ‘and would even over-perform if given the right platform and opportunities. And that is what the Canada Naija Business Hub is out to do’.
She said: “At the Canada Naija Business Hub, we help small businesses within the Nigerian community in Canada come together to sell and interact. We provide resources, trainings and workshops, and we expose them to great opportunities in Canada that they can benefit from.
“This trade fair is the offshoot of our online market square where our businesses are listed. We have a community of about 1,600 members on Whatsapp and our businesses are booming. Our aim is to build wealth within the Nigerian community in Canada, so we do not leave anything to chance.
“Having done the online version for a while, we thought to have a physical gathering where people can come together and interact beyond the online space. We want them to network, collaborate and partner for greater profits, visibility and opportunities. We also want to open the Nigerian market to the wider Canada community because Canada is a multi-cultural society, and this trade fair presents the opportunity to open our Nigerian businesses and brands to this large community where our people can enjoy greater opportunities and learn how to scale their businesses.
“It is an annual event, with the first held in 2024. We had over 100 venders and 1,000 attendees last year. This year, we had over 100 vendors and 3,000 attendees because we started to publicise the fair in January and we are glad about the turnout. It’s a vibrant market that brings everything about the Naija spirit to life, ranging from the food, music fashion, even tech; everyone is showcasing their business.”
The fair is expected to rake in about ten thousands of dollars, according to Adebayo. She noted that many of the vendors were already sold out before mid-day, yet people were still trooping in. “And that is a good testimony. Publicity about this fair started in January so everyone had been preparing in grand style.
“We are also hopeful for something bigger next year and, gradually, we will expand beyond Winnipeg to other parts of Canada where we can help small businesses to thrive.
“We also had the buy in of Corporate Canada in terms of sponsorship – Royal Bank of Canada (RBC), Rogers Communications, a foremost telecommunications company in Canada, partnered with us on this journey and we are grateful for their support,” she added.
Founder of Nigerians in Winnipeg, Olubunmi Agbaje, also known as Diva, partnered Tolu Adebayo in organising the Winnipeg Naija Trade Fair. She expressed gladness that the fair was truly exceptional.
She said: “This is my passion and I am happy it turned out the way it did. It is a way to help the community. We want Nigerian vendors in the community to explore more. We want to empower them, so they can have a voice in this community. We thus came together to help and support them through trainings, webinars, teaching them to be creative about branding and everything to grow their business.
“We are hopeful of more collaborations, exploration and visibility, and an international standard event next year. I believe in collaboration and partnership, so I am hoping that our vendors will partner other nationalities who have been doing this and begin to own shares and become co-owners of businesses.
“We hope to connect with giant manufacturers and big businesses that can give us insights into how to make our small businesses work in Canada. That is the whole essence of this trade fair and other efforts we have been making to ensure that small businesses in the Nigerian community in Winnipeg grow bigger and better.”
One of the vendors, Adebowale Onafowora, described the fair as important to the growth of Nigerian businesses in Canada. According to him, the fair is a giant step towards achieving greater rewards in the Nigerian business community in Winnipeg.
Onafowora is the Global Team Lead of Bearers in Christ (BIC) Agritech, established in 2006 in Nigeria. BIC offers innovative technology-based solutions to ensure Africans, nay Nigerians, have access to fresh foods and fruits in Canada.
He said: “We set up this growth system for African organic vegetables because our goal is to bridge the culinary gap for Africans in the Diaspora. The moment you remove a crop from its tree, it begins to lose its nutritional value. And, unfortunately, most of our fruits and veggies come here dry. And though we have African stores, our fresh foods are still not of the best quality, and that is what we aim to address.
“We want to make our food grow locally in and out of season. Winnipeg has seven months of winter. But with our system, you can grow your veggies all season. We have tried to localise the technology, so it is not expensive and everyone and afford it.
“We have different systems that suit various apartment needs, whether a pavement, garage, veranda, or backyard; it does not matter. Our system will grow fresh fruits and veggies possibly all year round. The better part is it’s a home-based business and you can start by growing your own. When you surpass your needs, you can start selling.”
According to Onafowora, the system costs about $500, and with a four-week cycle per term, it can grow over 32 bunches of vegetable. The system is semi-automated and only requires about 30 minutes tending per day. The company also offers a follow-up service to ensure things are done right.
The entire system has a life span of about 10 years. Heat is generated through lighting gotten from sysnthesising sunlight. The bulbs are built to last about 50,000 hours, depending on usage, and they can last for about four or five years. The system also uses minimal electricity.
Another vendor, Mrs. Eniola Abiola of 2buddy Kitchen, treated participants to a variety of popular dishes. There was ewa agoyin, moinmoin, akara, tapioca and a host of other foods common on the streets of Lagos.
According to her, the fair was an opportunity to remind ourselves that wherever we go, Nigeria goes with us. “And not forgetting that the Nigerian culture is a beautiful one, so we have come out today in full display and to tell the world that Naija no dey carry last.”
The glitz of culture
The fair was however not just about business, it was a confirmation that the Nigerian culture remains alive, strong and active. The fair was a strong platform to showcase the Nigerian culture in its beauty. Ranging from the food, drinks, snacks to attires, even the music, it was a beauty to behold, and a memory never to be forgotten in a hurry. Everything screamed ‘this is naija’.
Adebayo said: “Nigerians are very lively and happy people and this was displayed here today. We love connections, and so the fact that we can meet, connect and hug physically beyond the online conversations made it more beautiful. This is also in celebration of our culture, and we are fostering the connection within our community where people can come together and have genuine connections.
“We had about 20 food courts where the vendors brought the original Naija flavour to life. There was suya and roasted corn stand, all the treats, street food and cuisines we ate back home. It connects us back home and helps us relieve the experiences. Our owambe experiences, street food sense and others are being relived here.”
Adebayo hopes that the fair will be bigger in coming years to incorporate other communities in Canada.
“We are looking to grow bigger every year and also incorporate other communities in Winnipeg or Canada, so they can have a taste of the Nigerian culture, fashion, cuisine and others. We are going to see a fusion of cultures. We already have other Africans and the Caribbean doing this with us here, but we want others to come in and make it a bigger market.
“We also hope that one day we can have a Nigerian community store, more like the Superstore here, so our people can walk in anytime and shop for whatever they want in real time,” she noted.
The U.S government has suspended the scheduling of new interviews for student visa applicants worldwide as it considers strict vetting of applicants’ social media profiles.
The directive was issued by the US Secretary of State, Marco Rubio, in a cable sent out to diplomats worldwide on Tuesday, according to Politico.
This means that US embassies in Nigeria and many other countries will stop setting up new interview appointments for people who want to apply for student visas, such as the F-1 visa.
Although this is only temporary, during this period, no new applicants will be able to schedule an interview, which is a required step in the student visa process.
Rubio, however, ordered that interviews that have already been scheduled can proceed.
“Effective immediately, in preparation for an expansion of required social media screening and vetting, consular sections should not add any additional student or exchange visitor (F, M and J) visa appointment capacity until further guidance is issued,” Rubio said.
He stated that the guidance on social media vetting is expected in the coming days.
Thousands of Nigerian students study in American universities for both undergraduate and postgraduate programmes, with more seeking to join them.
The latest action is part of the US government’s efforts to control foreign students’ entry to American schools over claims they have contributed to an atmosphere that promotes antisemitism.
The Trump administration is currently pressuring US universities to change their race-conscious admission policies.
Last week, the administration revoked Harvard University’s ability to enrol international students by revoking its Student and Exchange Visitor Program certification.
The Department of Homeland Security attributed this to the university’s refusal to comply with its requests for the behavioural records of student visa holders.
It had earlier frozen $2.3 billion in federal funds to the university.
The administration has also revoked the visas of hundreds of foreign students.
Last Month, PREMIUM TIMES reported that about 600 international students in over 90 colleges and universities have had their visas revoked or their legal status terminated.
In April, Cynderila Patrick, a Nigerian and graduate of Youngstown State University in Ohio, filed a lawsuit against the US government after her student visa was revoked.
Many other international students affected have also filed lawsuits.
Last Thursday, a federal judge issued a ruling that prevents the US government from terminating the legal status of foreign students while a court case challenging the previous terminations was pending.
Meanwhile, Rubio stated that the State Department had likely revoked thousands of student visas across the country and was open to revoking more.
“We’re going to continue to revoke the visas of people who are here as guests and are disrupting our higher education facilities.
“A visa is a privilege, not a right,” he told Congress last Tuesday.
Nigerians are not worse off today than they were in 1960, Senior Special Adviser (SSA) to the President on Information and Strategy, Mr. Bayo Onanuga argued yesterday.
He said there was no basis to compare todays Gross Domestic Product (GDP) to what it was at Independence 65 years ago.
Onanuga was responding to a report ascribed to the President of African Development Bank (AfDB), Dr. Akinwumi Adesina, in which he claimed that Nigeria’s GDP per capita in 1960 was $1847 as against $824 today.
According to the SSA, the country’s GDP was $4.2 billion in 1960 and per capita income for a population of 44.9 million was $93, not even one $100.
In a post on his verified X Handle, Onanuga said: “Our country’s GDP did not rise remarkably until the 1970s, when crude earnings ballooned. In 1970, our GDP rose to $12.55 billion.
“In 1975, it was $27.7 billion; $64.2 billion in 1980; and $164 billion in 1981. Up until 1980, per capita income did not exceed $880. It rose to $2187 in 1981 and dropped to $1844 in 1982. In 2014, after rebasing, it reached an all-time high of $3,200.”
He argued that policymakers know that whatever GDP figure published by the NBS publishes may not capture the economy’s full depth and breadth if it fails to include the informal economy, which some pundits have said may even be more significant than the formal economy
He said: “No objective observer can claim that Nigeria has not made progress since 1960. Today, as we await the NBS recalibration of our GDP, we can comfortably say without contradiction that it is at least 50 times, if not 100 times, more than it was at Independence.
“A few days ago, outgoing AfDB President Akinwumi Adesina claimed that Nigerians today are worse off than in 1960, basing his conclusion on figures that do not align with available data.”
Sir: In Nigeria, agreement is a rare commodity. From politics to football, fuel prices to fashion trends, consensus is hard to come by. But there’s one issue where Nigerians seem to have found uncommon unity: ‘telcos are ripping us off’. The cry is loud, familiar and constant “My data just disappeared!” Today, it’s no longer an isolated complaint but a national lament. And while telcos offer explanations, the collective frustration suggests, “there is no evidence.”
In a country where over 150 million people rely on mobile internet, one has to agree that “data is life.” It’s how we connect, work, study, entertain ourselves, and even pray. Yet, many users report that data bought today disappears by tomorrow, often without heavy use.
Such complaints aren’t isolated. They’re widespread and recurring. And while telecom operators consistently deny any wrongdoing, the perception persists. And perception, as we know, is powerful.
To be fair, telcos invest billions in infrastructure, regulatory compliance, taxes, and technology upgrades. They operate in a challenging environment marked by erratic power supply, vandalism of facilities, and currency volatility. But that doesn’t excuse poor service or unexplained data loss.
Even if there’s no “deliberate rip-off,” the feeling of exploitation remains, and that’s bad for business.
What needs to change? Telcos must provide clearer, real-time data usage breakdowns. Just as banks now send SMS alerts for every transaction, users should be able to see what each MB or GB was used for—live and in simple language. Although some telcos allow rollover, many users still lose unused data at month’s end. Rollover should be automatic and last longer than seven days. Better yet, data should last until it’s used.
The National Communications Commission, NCC, must become more consumer-centric. Proactive monitoring, spot checks on telcos’ data systems, and enforceable penalties for infractions will go a long way. Also, many users are unaware of how smartphones consume data. Regular consumer education on app management, automatic updates, and best practices will empower users to control usage.A shift towards affordable, unlimited or truly “fair use” capped plans—especially for night or weekend usage—can ease the pressure on users and reduce complaints.
Regulators or consumer watchdogs should conduct independent audits of data billing systems. Findings should be made public to build trust.
While waiting for systemic changes, users can take proactive steps to better manage their data. One effective approach is to turn off background data for non-essential apps, ensuring that only critical applications consume data when not in active use.
Switching to data-saving browsers like Opera Mini or activating Lite Mode in Chrome can also significantly reduce data consumption. Additionally, users should disable the auto-download feature for media on apps like WhatsApp, Instagram, and Facebook to prevent unnecessary data drain.
Regularly monitoring data usage through phone settings or reliable third-party apps can help users stay informed and in control. Whenever possible, connecting to Wi-Fi, especially for activities like app updates and streaming, will further conserve mobile data and enhance overall efficiency.
Data is the fuel of Nigeria’s digital economy. As remote work, online education, and e-commerce continue to grow, the importance of reliable and affordable mobile data cannot be overstated.
The telcos must realize that perception is as powerful as reality. If Nigerians feel short-changed, then something must give. This is the time for honesty, transparency, innovation, and collaboration. The consumers deserve better. The telcos can do better.
After all, it’s not just about data. It’s about trust.
Presidential audit should be done expeditiously with a view to identifying and punishing culprits
The report that some Nigerians who travelled out of the country in search of greener pastures, commonly referred to as ‘Japa’, may still be on the payroll of the Federal Government’s ministries, departments and agencies (MDAs), is reprehensible.
In recent years, the younger generation has jumped on the wave of relocating abroad as the solution to their problems. Some even sold their family inheritance to satiate the hunger to relocate, sadly, on the jejune premise that Nigeria is irredeemable.
We admonish young Nigerians to be patient while our country is undergoing economic realignment and stop running to other countries. It is even more unfair when those employed and trained by the MDAs relocate with all they have gained from our system, to enrich nations more endowed than ours.
But, while relocating abroad is every individual’s prerogative, doing so while still on the government’s payroll is criminal and must be punished.
That is why the directive by President Bola Ahmed Tinubu, in 2023, for an audit of the Federal Government’s staff payroll should be done very thoroughly and without further delay. The internal memo in furtherance of that directive signed by the Director of Administration, OAGF, Dauda Abdulhamid, should be pursued vigorously.
It said: “Following the Service-wide Nominal Roll Update for officers under the pool of the OAGF, and in line with the Accountant-General’s commitment to establishing a standardised and reliable personnel record, the AGF has approved the conduct of a Personnel Audit Exercise across the headquarters, Federal Pay Offices, and all MDAs under the pool of the OAGF.” The audit should not only eliminate those who have travelled out of the country, it should also remove other ghost workers included in the payrolls by those in charge of preparing them, for illicit personal gains.
To achieve that, the Federal Government should rely on technology. We recall a similar exercise in Lagos State, when President Tinubu was the governor. The state had used the Oracle technology to automate its payroll system and the exercise was adjudged so successful that many states across the federation copied it.
President Tinubu made reference to that success when the Global Vice President of Oracle, Mr Andres Garcia Arroyo, visited him, last September. The President told Mr Arroyo: “I have tested Oracle and it has worked for our success. In Lagos State, what we did in effective collaboration with you has been copied across the states of the federation. We can only build our institutions with accurate data and cutting edge data management capabilities that are reliable and effective.”
He went on: “We can create an end-to-end solution for public administration that will rid our service of its worst tendencies in favour of effectiveness and reliability.”
No doubt, times are hard in the country, and many are tempted to think that it is all rosy abroad. But many who jumped into the train moving out of the country have been shocked with their inability to adjust into the foreign working environment. Some who have skillset that are not adaptable to their new country of abode have found it excruciating to survive. Those who have the courage have returned home to lick their wounds. There are those of them who live on the streets abroad because they have no work and the resources to rent an accommodation.
We hope the audit payroll will be done swiftly and efficiently without disrupting the payment of salaries. The old practice where the audit of payroll is used as an excuse to delay payment of salaries should not be the case with this directive.
As for those engaged in the fraud of receiving salaries while living abroad, we urge them to save themselves the shame associated with being caught red-handed.
Mustapha congratulated the President, who had served in many capacities in Nigeria with distinction and reached the peak of his career as an accountant, a senator and former governor of Lagos State with impeccable legacies for his political rise.
‘’During the military rule he fought for our democracy. He stood in defence of our nationhood.”
For Olatubosun Fatoki, who left the shores of the country for Abu Dhabi in the United Arab Emirate in 2015 unsure of what future lies ahead, a decade after you can say he has made good in life. Widely acclaimed as a visionary entrepreneur and the first Nigerian to establish a real estate company in Abu Dhabi, UAE, Crest Range Properties LLC, Fatoki’s story resonates well with the survival struggles of many Nigerians abroad who are making the most of the opportunities at their disposal. In this interview with Ibrahim Apekhade Yusuf, he shares interesting insights on his career trajectory thus far. Excerpts:
Going into real estate
I’ve been in real estate since 2016. But I started off with a baseline experience working with a property magazine in Nigeria where I had a short stint. So when I came to Dubai it was easy for me to choose real estate as a career path. This is because if you go to any commercial buildings here, especially in Abu Dhabi, you will see a list of companies that are in that building and almost all buildings have two, three, four to five real estate companies in them, which demonstrates the industry dominance. So I opted for real estate, knowing that I have a baseline experience back from Nigeria. But coupled with the experience, I’ve been a salesperson all my life and I felt oh; this is an industry for me. So I picked up from there, started off real estate as a salesperson, as an off-plan project sales professional with a real estate company in Dubai. I had to travel from Abu Dhabi to Dubai every day just to do real estate. I was just trying to learn the city, learn the environment, learn the industry, get to know how things work here, and how to go about it. So for the first two years, I worked in Dubai, going back and forth daily.
All I just wanted to do was to learn. I just wanted to keep learning, knowing the industry, bringing in my sales experience into the field. You know as Nigerians wherever we are, we just want to make the best of ourselves and take advantage of our environment. So I started to build my network, started to build my name, trying to do as much as possible, especially when it comes to client relations and service delivery. I tried to do something different from every normal agent practice here.
I started off being the only African agent in the first two companies I worked with. But I was learning, not minding whatever stipend I was getting from it, because I had an end goal, to know the market and develop myself.
Thankfully, I already started to build a huge database, a portfolio of clients and a network in the market, the industry, in the city. The fact is 80% of my transactions were coming from referrals because of people that I have worked with, who have been comfortable with their experience dealing with me. So a lot of references were coming in. I wouldn’t say I was doing exceptionally well, but I was doing okay.
In 2020, I joined one of the biggest real estate companies with a huge portfolio of properties that I could work with. But, you know, it’s like a company where you sit and get a lot of walk-in clients because the company was a significant brand in the market. Clients come in directly to lease or purchase properties because this company manages three major islands in Abu Dhabi. So you don’t really have much to do as an agent, but I didn’t build my performance on what the company already provided. In a month, I was doing about eight, 10 deals, with a huge percentage of these deals coming from the network I had built in the market, people that I had met previously; property owners, investors, tenants among others.
So at this point, I felt okay. I think I’m getting to a point in the market now where people are already calling for my services, giving me transactions to handle, properties to manage on their behalf. But during the COVID 19 pandemic, unfortunately, the company shut down.
At that point, I already knew the market and also had an idea of where I was going because I have always thought of having my own establishment. The country and the city provides an enabling environment for you to practice and to do what you know how to do best. So after the company shut down, right there when we were told that the company was closing down, I knew it was time.
Comparing real estate markets in Abu Dhabi and Nigeria
I would say that there’s a significant improvement in Nigeria’s real estate sector compared to what it used to be back then before we left. I mean, many professionals are taking their time to actually travel the world, study international practices and see how the global real estate market works and they’ve successfully implemented those ideas and concepts back home, which has brought improvement to the market compared to what it was.
Although there’s still a gap between what it is here in Abu Dhabi and what it is back home in terms of how things are done, especially in terms of regulation, management and oversight. In the UAE, , real estate sector is highly structured with multiple governing bodies that ensures order, accountability and real estate market control. So, we still have a lot to do back home to match this level of professionalism and standardisation. However, we are not where we used to be, we have really improved back home and I believe that over time, Nigeria will also get there.
Lessons to learn from Abu Dhabi real estate market
First of all, I would say the most valuable lesson is the role of regulatory bodies here in the UAE, they have made the real estate industry very well organised and standardised. This is something we need to learn about and adopt, how to bring in the international policies especially regarding governance, licensing and investor protection. In the UAE, the real estate industry has various distinct segments. We have the property management, facility management, maintenance and many more. There is an owners’ association that represents the affairs and interests of property owners. There are tenant’s associations, property dispute resolution departments for landlords-tenants’ issues, buyers-sellers matters and developers-investors conflict. So a lot of things have been put in place here that we can also learn from, that I believe will really help our real estate back home.
Getting properties here has its own process. There are two primary ways of getting properties. It’s either you are buying outright or you are getting bank finance called a mortgage. Mortgage process can be finalised practically within a month or more based on certain criteria. After which the property is being transferred between the buyer and the seller, it’s mostly done at the government-assigned office. Once all the documentations are ready, buyers get their ownership certificate immediately the transfer is done. If it’s a mortgage, the bank representative comes with all necessary documents to the trustee office or municipality where the transfer takes place. All payments are made; the title deed is generated there and then. It takes only one day to get the title deed compared to back home in Nigeria. I can tell you for free that this is not peculiar to Nigeria alone. I’ve been to other places in Africa, like in South Africa for instance; the process of getting your deed of ownership also takes far longer. But things are done differently here. It’s just in a day, and it makes things easier for everyone. So if you’re buying in cash, it makes it faster. If you’re buying through a mortgage, you know the bank has to go through all their due diligence, go through all the paperwork, pre-approvals, approvals, getting documents exchanged before the transfer is done.
Managing risks associated with real estate
It takes me back to what I said earlier about regulation. The UAE real estate industry is a highly regulated market. For example, if you’re investing in Abu Dhabi, Dubai or other emirates be it in a “ready property”, an off-plan project, primary or secondary market, the country has practically developed regulations that protect investors against risk and extend investment security. As one of the safest countries in the world, the government protects you as an investor. For instance, if you’re investing in a project here, you pay directly to the government- controlled developers’ escrow account. The developer only accesses these funds as construction progresses. And before a developer starts the project here, they should have shown capability of actually financing this project independently of investors’ funds. By so doing, this ensures that even if the project faces issues, the investors’ funds are secured.
Again, as property owners here, if there’s an annual fee you pay, it’s called service charges; part of which goes into a reserve fund. This also protects you in the long term because at some point, there’s a regulation that says at a certain year, the government expects that buildings have to be reviewed. There is an expiry time where a project has to be reviewed. When it comes to this, the government may initiate refurbishment or rebuild a structure to maintain property value and protect investment; this accumulated service charge could be used as part of funds to facilitate this rebuild. So, the chances or risk of losing properties here is highly, highly minimal.
Choice property in-demand amongst Nigerians in Abu Dhabi
Yes, I’ll say a lot of Nigerian and other African families invest in townhouses and villas typically within gated communities. These are what you call semi-detached in Nigeria. Of course, we have other investors who particularly focus on long-term investment with rental income, go for a one-or two-bedroom apartments in high-rises or more affordable and “in demand” areas. It really depends on their investment goals and capabilities.
Opportunities in the real estate market in Nigeria
I would say that in the near future, we’re already exploring future plans in Nigeria and that’s one of the major reasons we visited the country two years ago. We have already forged a certain level of partnerships aimed at creating a viable bridge between Nigerians, Africans here and opportunities back home. This looks really promising because of the name we have created here; we get a lot of inquiries from people who ask us for advice regarding investments back home. And also we have talked to a lot of international investors here on the possibility of investment opportunities in Nigeria.
I recently had a meeting with an Arab team setting up in Lagos, trying to also bring a different approach into the housing sector in Lagos. I wouldn’t be permitted to say much on this, but it’s one of the partnerships that we are just getting into on how to bring in international investors into the local market because a lot of people hear about Nigeria and they are really interested to see what we have. So, we are planning in the long term, in the near future, to actually bridge the gap between international investors and what we have back home.
For the sake of this discussion, I would agree with the figure of 28 million housing deficits announced by the federal government in 2023, but chances are that the figure might be more than that, considering the number and the rate at which we turn out graduates from the universities, the polytechnics and other tertiary institutions every year and the fact that these individuals and several other categories of Nigerians would be needing accommodation to settle down for the challenges of life.
Population growth, especially of the urban centres, and major cities of Abuja, Port Harcourt, Kano, and Lagos, with its attendant increase in demand for housing is another issue worth noting. As regards how we got to where we are, I would blame some of the previous administrations in the country for paying lip service to housing development and provision.
Some of the previous administrations did not give the important issue of housing the attention and the priority it deserves. And expectedly, the situation became aggravated and worsened, as a result of failure to put in place a strategic agenda to address the crucial issues of housing development, the process of its delivery, the funding that must accompany it, high cost of construction, legal framework and regulatory bottlenecks, difficulty in acquiring land for housing development, the land tenure system and lengthy process of securing titles, the technological process, the availability or otherwise of building materials, and technical know-how that should be galvanized in a holistic manner.
Funding has always been a major problem. Mortgage facilities are not there, in which case, people have almost always depended on private savings that they could muster for home ownership.
What can we do to quickly address the housing challenge in the country then? To all intent and purpose, the response of the government has been quite lukewarm and unsatisfactory. In practical terms, the government should show more political willingness to address the challenge; otherwise the problem would remain unresolved. But if and when the government realizes the need to urgently address the challenge, it should initiate and encourage Public Private Partnership (PPP) such that would be able to harness resources for housing provision, we all know that housing development is capital intensive.
Invariably, there would be collaboration between the public and the private sectors of the Nigerian economy, stakeholders in the housing delivery process, the professional associations, the builders, the research institutes, the academic environment, bilateral organizations, and other concerned bodies should put heads together to discuss and proffer solutions to the housing challenge, but at the apex, the government should be the umbrella for these organizations and stakeholders to be able to initiate a positive and effective housing policy for the nation, and to promptly implement same appropriately.
We should acknowledge that the issue is multifaceted. In other words, you can’t address the issue of funding without addressing the issue of land tenure because if you are providing land, you also have to think of how you are going to secure the tenure that you are going to give to the people who are being serviced and without the availability of affordable building materials, it would be a herculean task to meet the housing need of Nigerians, particularly the common people.
Professional associations in the building industry have crucial roles to play. The Nigerian Institution of Estate Surveyors and Valuers for instance could take the lead, to raise funds among members, keep the pool of funds somewhere, establish a board to manage or administer the funds, acquire land, develop model structures, go to the market, do bulk purchase for building materials and as much as possible, use locally available materials, and by the time this is done, modest structures such as three bedrooms, two bedrooms with conveniences and road networks, electricity, infrastructure that would enable house owners to have access to their sites and housing units would be in place. There could be communal boreholes instead of individuals having to drill their boreholes, in which case, we would be encouraging communal living.
Cooperative movements can be involved; the tertiary institutions should start encouraging research into housing such that it would be amenable and easy for some people who have also done researches to start providing solutions to the myriads of problems confronting the populace.
I will continue to emphasize the need for willingness on the part of government to address this issue as a front burner issue and with the involvement of everybody through sensitization, advocacy, constructive engagement, collaboration, networking, I’m sure the problems are not insurmountable. All hands must be on deck, outside this, nothing can be achieved, and we will just be dancing round figures.
There is no straight jacket solution. It should be an aggregation of solutions, some solutions could be applicable in Yobe State, but might not be applicable in Oyo State because the demand for housing in Lagos State is not the same as the demand in Osun State. So every state will develop a model that is suitable for its environment. Through that, we will be able to get over the herculean challenge.
The mortgage sector which has been comatose should be re-positioned to assist prospective home owners. There is an urgent need to recapitalize the FMBN, the need to put funds into the FMBN for the Primary Mortgage Institutions (PMI) to access, because if we want the PMI to go to the same capital market to source for funds at cut-throat rates of returns and expect them to grant loans to prospective house owners on long term basis, whereas they are getting funds on short term basis, it would not work.
Who would use short term funds to fund projects on long term basis? Should you do that, somebody will question your ingenuity or intelligence as a professional, so we should encourage government to fund the FMBN and the mortgage refinance company should also be strengthened to wake up to its responsibilities such that the PMI would have a fallback position, they would be able to lean on the mortgage refinance company. It is that kind of networking that would help us, but if you want the PMI to compete with the banks in the same market, it would not work. Who would give a deposit and would not think of a good and quick return on investment? This is what I think the government should do, and I think there are steps in that direction and we are hoping that it would pay off
In addition to this, the cooperative movements are vital and virile areas where funding can be expected. Nothing stops the government from addressing the Pension Commission such that a percentage of what they are keeping should be devoted to housing. What about the banks too! In enforcing this, there has to be an agency to be in place to compel the banks to abide with whatever regulations that might be put in place under a well-defined National Housing Policy that would be championed by the federal government. These are strategic steps that should be adopted so that funding would no longer constitute a problem.
• Olajumoke is an Estate Surveyor and Valuer in Lagos.
Strange as it may seem, it is good, at least for competition
Many Nigerians must have been disappointed by media reports that the country is still importing about 25 million litres of fuel daily. This is especially so that the 650,000 barrels per day Dangote Refinery has taken off, and even the hitherto moribund Port Harcourt Refinery has also resumed production. There are other modular refineries that have also started functioning.
However, none of these local refineries is involved in fuel importation.
Executive Director of Distribution Systems, Storage and Retailing Infrastructure, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Ogbugo Ukoha, who made the disclosures, said petrol importation became necessary to ensure that scarcity does not return to the downstream sector.
‘Let me speak a little bit about supply. All of us have experienced a yuletide free of any scarcity and let me just reconfirm that from year to year we saw an increase in the demand for PMS by 2021, 2022 up to 2023 just before the current administration came in,” Ukoha said. He added that “the daily PMS supply sufficiency was always more than 60 million, in fact averaging about 66 million a day for PMS. And following Mr. President’s withdrawal of subsidy, the announcement on May 29th, 2023, we immediately saw a steep decline in consumption, and between then and as we speak, we’ve continued to do plus or minus 50 million”.
Ukoha, who was speaking with journalists after a stakeholders meeting in Abuja, last week, said: “Of these 50 million litres averaging for each day, less than 50% of that is contributed by domestic refineries and so the shortfall, in accordance with the PIA (Petroleum Industry Act), is sourced by way of imports”.
That the figure is official would though have lent some credibility to the report, but it would not in any way obliterate the question of why.
Many Nigerians had hoped that when Dangote Refinery comes on stream, it would put an automatic end to fuel importation because it has the capacity to meet the country’s local fuel demand and even export.
Very little hope was hinged on any of the public refineries because they had remained a drain pipe, gulping huge public funds over the years, with little to show for it. That the Port Harcourt Refinery (though not producing at full capacity) has resumed production should be bonus to the local fuel market.
It is against this backdrop that Ukoha’s disclosure of the country still importing fuel would have come as a surprise to many Nigerians.
But it needn’t be so.
First, the country does not have enough crude to sell to the local refineries because we are not producing enough. Even then, a substantial amount of the crude that we produce had been sold upfront by the immediate past Muhammadu Buhari administration.
Second, the sector has been completely deregulated, especially with the withdrawal of fuel subsidy by the Bola Tinubu administration. So, those who want to continue to import fuel are free to do so, especially with subsidy now gone!
But it is not just a question of importation for the sake of it, but it also has a way of engendering competition so that we do not have the dangerous situation of a monopolist or two hijacking the sector and setting prices according to their personal whims and caprices. And this has turned out well so far, with both fuel importers and local producers now in a price war that is helping somewhat to modulate prices.
Notwithstanding this advantage, the ultimate goal should still be towards zero fuel import, especially if we are really serious about making substantial foreign exchange savings, with a view to shoring up the value of the nation’s currency.
So, the more local refineries; the merrier. But we must also be able to meet their demand for crude.
