Cement Prices Near N12,000 as Top Manufacturers Record N6.5trn Revenue in 2025
News

FG Bans Import of Cement, Poultry, Drugs from Non-ECOWAS Countries

The Federal Government has announced a ban on the importation of cement, poultry products, pharmaceuticals, and selected agricultural goods from countries outside the Economic Community of West African States. The…

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HousingHousing News

FG, Family Homes Funds Launch National Student Housing Programme to Bridge Accommodation Gap in Tertiary Institutions

By Housing Development Advocacy Network (HDAN) The Housing Development Advocacy Network (HDAN) has applauded the Federal Government of Nigeria and Family Homes Funds Limited for launching the National Student Housing…

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Housing News

Family Homes Funds Delivers New Housing to Kaduna Widows

Widows in Rigachikun, Igabi Local Government Area of Kaduna State, are expressing renewed hope following their resettlement in a free housing estate provided under the Family Homes Funds scheme. The…

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The Kwara State Government has taken ownership of a 132-unit National Housing Programme Estate located in Ogbondoroko, Asa Local Government Area, following its official transfer from the Federal Government. Governor AbdulRahman AbdulRazaq, represented by the Commissioner for Housing and Urban Development, Dr. Segun Ogunsola, received the estate’s documents and keys during a formal handover ceremony. The governor said the acquisition forms part of his administration’s efforts to reduce the housing deficit and expand access to affordable housing across the state. “This is another effort to bridge the housing deficit in Kwara and provide sustainable accommodation for residents,” he said. The estate comprises 132 housing units, including one-, two-, and three-bedroom detached and semi-detached buildings designed to cater to different income groups. Representing the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, the Director of Public Buildings and Housing, Architect Musa Abdullahi, commended the state government for taking over the project in the public interest. He noted that the National Housing Programme was initiated to address Nigeria’s housing shortfall and improve access to decent housing nationwide. Dangiwa also disclosed that the Federal Government has awarded a contract for a new Renewed Housing Estate in Kwara, with construction expected to commence soon. The Permanent Secretary of the ministry, Shuaib Belgore, described the handover as a reflection of effective collaboration between federal and state governments. He added that the development underscores ongoing efforts to strengthen infrastructure and support economic growth in the state. Nigeria continues to face a significant housing deficit, particularly in urban areas, driven by population growth, urban migration, and years of underinvestment in public housing. The National Housing Programme, introduced under the administration of former President Muhammadu Buhari, aims to deliver affordable housing across all states through various financing options, including mortgages and rent-to-own schemes.
News

Kwara Takes Over 132-Unit Federal Housing Estate to Tackle Housing Deficit

The Kwara State Government has taken ownership of a 132-unit National Housing Programme Estate located in Ogbondoroko, Asa Local Government Area, following its official transfer from the Federal Government. Governor…

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Tinubu, Aso Rock, electricity, power sector, Nigeria grid, solar energy, NERC, Dangote
News

Aso Rock Solar Plan Sparks Outrage As Power Crisis Persists

Nigeria’s struggling electricity sector has come under renewed scrutiny following plans by the presidency to install a ₦10 billion solar power system at the Presidential Villa, raising concerns about the…

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Amancio Ortega real estate
Housing

Zara Founder Ortega Becomes World’s Biggest Property Tycoon

Spanish billionaire and Amancio Ortega, founder of Inditex, has emerged as the world’s largest real estate owner, cementing his dominance beyond the global fashion industry. According to recent industry estimates,…

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IMF, Nigeria economy, inflation, cost of living, debt, oil prices, transportation, food prices
Economic

IMF Warns Of Tougher Times For Nigerians Amid Rising Costs

The International Monetary Fund has warned that Nigerians may face more difficult economic conditions in the coming months as rising food and transport costs continue to strain household incomes. The…

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FG Reaches 150 Communities With Urban Renewal Projects
News

FG Reaches 150 Communities With Urban Renewal Projects

The Federal Government says its urban renewal programme has delivered critical infrastructure to over 150 communities across Nigeria in the past two years, as part of efforts to improve living…

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Residents of Abuja are increasingly struggling to cope with rising living costs, as a monthly income of ₦300,000—once considered comfortable—loses its purchasing power. Amid persistent inflation and rising fuel prices, many workers in the Federal Capital Territory say their salaries are now barely sufficient to cover basic needs, leaving little or nothing for savings. For civil servants and private sector employees alike, monthly earnings are largely consumed by fixed expenses such as rent, transportation, and food, forcing households into a cycle of financial strain. “We don’t really eat like before. Meat is now occasional. You plan meals like a budget document,” said Grace Utaru, a civil servant in Abuja. Another resident, Abdulrasak Babandede, who commutes from Suleja, described the situation as overwhelming. According to him, by the time rent and transport costs are settled, little remains from his income. The rising cost of housing remains one of the biggest financial pressures. In areas such as Lugbe, Kubwa, and Gwarinpa, annual rent for a modest one-bedroom apartment ranges between ₦800,000 and ₦1.5 million. When broken down monthly, rent alone can take up as much as 40 percent of a worker’s salary, excluding additional charges like agency fees and service costs. This is further complicated by Nigeria’s upfront rent payment structure, which places heavy financial demands on tenants. Experts say the widening gap between income levels and housing costs is driven by limited supply, high construction costs, and inflationary pressures. Transportation is another major burden. Workers commuting daily from satellite towns to business districts report spending between ₦40,000 and ₦60,000 monthly on transport, largely due to rising fuel prices. Energy costs also continue to climb. With unreliable public power supply, many households now spend between ₦30,000 and ₦70,000 monthly on electricity and generator fuel. Food inflation has added to the pressure. A family of four now spends between ₦120,000 and ₦180,000 monthly on food, forcing many households to cut back on protein and adopt cheaper meal options. Development economists warn that when essential expenses—housing, food, transport, and energy—consume the bulk of income, households are left with little capacity to save or withstand financial shocks. This comes despite recent government efforts to improve wages. In 2024, President Bola Ahmed Tinubu approved a ₦70,000 minimum wage, with a promise of periodic review. However, data from the National Bureau of Statistics shows that inflation remains elevated, eroding real income and weakening purchasing power across the country. Analysts say unless inflation slows significantly and wages adjust accordingly, more urban households could slip deeper into financial vulnerability. The situation highlights a growing reality in Nigeria’s cities: earning what was once considered a stable income is no longer enough to guarantee financial security.
News

N300,000 Salary No Longer Enough in Abuja as Living Costs Rise

Residents of Abuja are increasingly struggling to cope with rising living costs, as a monthly income of ₦300,000—once considered comfortable—loses its purchasing power. Amid persistent inflation and rising fuel prices,…

Taiwo Ajayi Taiwo Ajayi
IMF loan Nigeria
Economic

FG Rules Out IMF Loan Despite $50bn Fund

The Federal Government has ruled out plans to seek financial support from the International Monetary Fund, despite the institution’s proposed $50 billion support package for struggling African economies. Nigeria’s Minister…

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