Development
Senate Approves Establishment Of National Agricultural Development Fund
The Senate has approved the establishment of the National Agricultural Development Fund for the purpose of providing finance to support strategic aspects of agricultural development of Nigeria.
This followed the clause-by-clause consideration of the report presented by the Senate Committee on Agriculture and Rural Development by the lawmakers during plenary on Wednesday, March 24.
Chairman of the committee, Sen. Abdullahi Adamu, had earlier presented the report.
Adamu also noted that the Bill was read for the second time on Wednesday, March 4, 2020.
According to him, the Bill seeks to promote and provide for finance to support agriculture development in the country in order to ensure food production and food security in Nigeria.
“Also to provide finance for the implementation of policies and to strengthen agricultural institutions.
“It also seeks to encourage donor institutions to provide funding for the agriculture sector to ensure increased food production,” Adamu said.
He said that the Bill therefore showed that the availability of the fund would meet these requirements among others.
“With government’s commitment to make agriculture the mainstay of our economy, it is only right to make enabling laws for the purpose of providing sustainable funding for agriculture development in Nigeria.”
This, he said would be to take into consideration the critical need to address food production and food security, job creation and international competitiveness in agriculture sector in Nigeria.
In his remarks, the Senate President Ahmad Lawan, said that the establishment of the National Agricultural Development Fund would transform the Nigerian economy and ensure job creation.
Development
FG revokes houses of defaulting NHP subscribers

The Federal Ministry of Housing and Urban Development has announced the revocation of the offer of provisional allocation of houses under the National Housing Programme (NHP) of defaulting subscribers.
The Permanent Secretary of the Ministry, Dr Shuaib Belgore, made this known in a statement signed by Mr Salisu Haiba, Director, Press and Public Relations on Tuesday in Abuja.
According to Belgore, the revocation affected all recipients who failed to make full and outright payment within the stipulated period of 90 days and the additional eight-week grace granted.
“This decision aligns with the terms and conditions outlined in paragraph 2 of the provisional offer of allocation letter issued to beneficiaries.
“It reinforces the Ministry’s commitment to ensuring transparency, compliance and efficient management of the National Housing Programme.
“The revocation strictly applies to those who did not fulfill the payment requirements within the designated time-frame,” he said.
Belgore further clarified that all beneficiaries who successfully completed their payments on or before Feb. 28, 2025, remained unaffected by the action.
He also advised that they should come to the Ministry to collect their letters of allocation and proceed to take possession of the houses immediately.
The permanent secretary said that for ease of reference and public accountability, the full list of individuals whose provisional offer of allocation had been revoked would now be available on the Ministry’s official website https://fmhud.gov.ng.
He added that it would also be published in the Daily Trust, Nation and Leadership newspapers, in the first week of April, 2025.
The Permanent Secretary noted that the Ministry remained dedicated to providing accessible and affordable housing to Nigerians, and the measure was part of ongoing efforts to streamline the housing allocation process for greater efficiency and fairness.
Business
Dangote Refinery to Power Nigeria’s Economy, End Fuel Scarcity, Save Forex – Gov. Abiodun …praises President Tinubu’s intervention

Ogun State Governor, Prince Dapo Abiodun, said the commencement of fuel production by the Dangote refinery will strengthen the nation’s economy by eliminating constant shortages and conserving foreign exchange.
Petrol produced from the 650,000 barrels per day Dangote refinery is expected to hit filling stations in the next 48 hours as modalities with the Nigerian National Petroleum Company Limited have been formalized.
Prince Abiodun, in a statement on Tuesday signed by his Chief Press Secretary, Lekan Adeniran, said that with the refinery coming on stream, one of the most significant challenges faced by Nigeria for more than three decades—reliance on fuel importation—will be solved.
According to the statement, with the Warri and Port Harcourt refineries also being prepared to begin production, Nigerians will heave a sigh of relief from constant fuel shortages, while the economy will also receive a boost.
Prince Abiodun praised Alhaji Aliko Dangote for his determination in seeing through the multi-billion dollar projects against all odds.
The governor also commended President Bola Ahmed Tinubu for his intervention in ensuring that the refinery comes on stream during his administration.
He praised the President’s commitment to the revitalization of other refineries in the country, which, he said, will drastically reduce fuel prices when all of them start production.
He said: “This significant achievement marks a transformative milestone not only for you as an entrepreneur but also for Nigeria and the broader African continent. The establishment of this refinery represents a pivotal shift in the energy landscape of the region, showcasing the power of vision, resilience, and unwavering commitment to economic development.
“The Dangote refinery is poised to be a game-changer in the production of petrol, addressing one of the most pressing challenges faced by Nigeria: reliance on imported fuel. This dependency has not only strained our foreign exchange reserves but has also hindered our potential for self-sufficiency.
“By producing petrol locally, the refinery will drastically reduce the outflow of foreign currency, thereby strengthening our economy. This move aligns perfectly with the President Bola Tinubu-led administration’s efforts to achieve economic diversification and reduce reliance on oil exports alone.
“Moreover, the economic impact of the refinery extends beyond just fuel production. It is expected to generate thousands of jobs, both directly and indirectly, thus contributing to the reduction of unemployment rates. The ripple effect of this employment generation will invigorate local economies, stimulate growth in ancillary industries, and enhance the livelihoods of countless families across Nigeria.
“In addition to bolstering local employment and economic activity, the refinery’s operations are expected to enhance energy security in Nigeria. With the capacity to produce a substantial volume of petrol, the country will be better equipped to meet its energy needs, reducing the volatility associated with fuel shortages and price fluctuations.
“This stability will inevitably create a more favorable environment for businesses and attract foreign investments, further boosting economic growth.”
Development
Sanwo-Olu commissions 270 housing units in Egan-Igando

Lagos State Governor, Babajide Sanwo-Olu, on Thursday, inaugurated 270 units of two-bedroom flats at the Egan-Igando Mixed Housing Estate, Igando-Ikotun Local Council Development Area (LCDA), Lagos.
The project located in the Ikeja Division of Lagos State is Cluster One of the proposed 101 blocks of 846 home units made up of one, two and three-bedroom apartments on a land area of 17.358 hectares to provide decent accommodation for sub-urban dwellers.
The housing project, which defied all efforts at completion for several years, was successfully delivered on Thursday by Governor Sanwo-Olu-led administration to reduce the housing deficit and provide decent accommodation for residents in the State.
The Egan-Igando Mixed Housing Estate (Cluster One) has infrastructural components that include a network of well-structured roads, a well-channeled drainage system, an ingestion station, ample car parks, potable water, a perimeter fence, a central sewage treatment plant, and electricity transformers.
Speaking at the unveiling ceremony, Sanwo-Olu promised to complete the remaining 576 home units in Clusters Two and Three of the Egan-Igando Mixed Housing Estate for more residents to benefit, irrespective of their ethnicity or political affiliations.
Sanwo-Olu, who appealed to beneficiaries to take ownership of the project and protect it from vandals, said his government is ready to partner with the private sector to build more affordable housing estates in Lagos State.
He said, “The completion of this project will address the urgent need for affordable housing and also foster a sense of community and belonging among our residents. This project is designed to cater to diverse economic groups, reflecting a vision of an inclusive society where everyone has a home.
“We must innovate and partner with private investors to bridge the gap, which we cannot do alone. We need to enhance our public and private investments in housing. We must continue to build decent homes. I will like to appeal to future occupants to please ensure good maintenance of these facilities.”
Sanwo-Olu also urged traditional rulers and community leaders to provide more land for the government to build more infrastructure in rural areas.
The Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, said the Egan-Igando Mixed Housing Estate is a landmark project that stands as a testament to Sanwo-Olu’s commitment to providing affordable and quality housing for the residents of Lagos State.
Akinderu-Fatai, who noted that the project experienced a lot of challenges due to a paucity of funds, appealed to the private sector to partner with the Lagos State Government to provide more affordable housing for residents.
The Commissioner disclosed that Sanwo-Olu, in his magnanimity, has graciously approved that all existing subscribers with full payment for either a unit of two bedrooms or three bedrooms be given allocation from Cluster One at no additional fees to the selling price.
Akinderu-Fatai, who noted that the gesture by the governor is to appreciate the trust and commitment of the subscribers over time in Lagos State, said other subscribers with more than 50 percent commitment on the initial selling price shall be considered with an option to balance up at the current selling price.
He said: “This significant occasion marks the completion of 270 units of two-bedroom apartments, a vital step towards alleviating the housing deficit in Lagos, hence bringing succor to the beloved people of the Igando-Ikotun LCDA in Alimosho LGA.
“Today, we are proud to present Cluster 1, with 45 blocks consisting of 270 units of two-bedroom apartments with complimentary infrastructure. We not only celebrate the completion of these units but also the resilience, dedication, and hard work that have brought this vision to reality.
“As we hand over the keys to the new homeowners, we reaffirm our commitment to completing Clusters 2 and 3. We will continue to work assiduously to overcome any challenges, ensuring that every promised unit is delivered. This project is a clear indication that when we combine vision with dedication, the results are transformative.”
Akinderu-Fatai commended Sanwo-Olu for his great determination and unusual support for the housing sector, particularly on the completion and delivery of the Egan-Igando Mixed Housing Estate.
The Chairman of Igando-Ikotun LCDA, Lasisi Akinsanya, and Onigando of Igando Land, Oba Lasisi Gbadamosi, praised Sanwo-Olu for the Egan-Igando Mixed Housing Estate, saying they appreciated the good gesture.
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