Abbey Mortgage Bank Plc has announced a N1.2 billion dividend payout, translating to 12 kobo per ordinary share of 50 kobo each, in a move that underscores its commitment to sustainable growth and shareholder value creation.

The announcement was made during the bank’s 34th Annual General Meeting (AGM), which brought together shareholders, board members, management, regulators, and other key stakeholders to review its financial performance and strategic direction.

At the meeting, shareholders approved key resolutions, including an additional capital raise and the dividend declaration, while commending the bank’s operational resilience and steady transformation within Nigeria’s financial services sector.

Managing Director and Chief Executive Officer of Abbey Mortgage Bank, Mobolaji Adewumi, said the institution remains focused on enhancing value delivery to shareholders while maintaining a balance between rewarding investors and strengthening long-term growth.

He said the bank’s next phase of growth will prioritise digitally driven banking services aimed at removing traditional barriers to financial access and improving customer experience.

“Our next phase is centered on delivering seamless and digitally driven banking experiences that eliminates the traditional barriers to premier financial services,” Adewumi said.

He added that the bank is working to build a resilient and agile institution capable of delivering meaningful value to all stakeholders.

Adewumi also highlighted the bank’s commitment to strong corporate governance, innovation, and expansion within Nigeria’s financial services industry.

The AGM also provided an opportunity for management to appreciate shareholders for their continued confidence and support, which the bank described as critical to its growth trajectory.

Abbey Mortgage Bank reaffirmed its focus on financial inclusion, innovation, and sustainable value creation as it continues to strengthen its position in the Nigerian banking sector.

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The Nigerian Institute of Building (NIOB), FCT Chapter, has called for increased adoption of gas reticulation systems in buildings as a sustainable energy solution in Nigeria’s built environment.

This position was emphasized during its 2025 Builders Conference and Annual General Meeting held in Abuja, with the theme: “Gas Reticulation in Buildings: Design, Safety/Environmental Compliance, and Prospects for Builders.”

The event focused on promoting gas as an efficient, safe, and environmentally friendly energy source for the nation’s construction sector.

In his welcome address, NIOB FCT Chapter Chairman, Bldr. Usman Abdulmumin, described the theme as a continuation of last year’s discourse on energy transition in the construction industry. He noted that gas, which Nigeria possesses in abundance, offers a viable and sustainable alternative to traditional energy sources.

He emphasized that incorporating gas systems into residential, commercial, and industrial projects requires strict adherence to safety standards, design protocols, and environmental compliance, responsibilities entrusted to professionals and regulators within the built environment.

Chairman of the Nigerian Gas Expansion Programme, Prof. Mohammed Ibrahim, in his keynote address, stated that the initiative is aggressively pushing for gas reticulation in estates, districts, and industrial areas to spur economic growth, reduce carbon emissions, and improve quality of life.

Chairman, Council of Registered Builders of Nigeria (CORBON), Bldr. Dr. Samson Opaluwah, commended the timeliness of the conference, aligning it with current efforts to foster collaboration and innovation within the sector.

Also speaking at the event, Prof. Ikechukwu Okafor, an Associate Professor in the Department of Petroleum Resources at Nile University, presented a paper titled “Best Practices in Gas Reticulation System Design for Optimal Efficiency and Safety.” He stated that gas reticulation provides a more efficient and reliable energy source that can drive growth in manufacturing and industrial processes.

He emphasized the importance of adequate training, certification, and compliance with regulatory agencies such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). He also noted that leveraging technology can enhance leak detection and prevent disasters.

Registrar of CORBON, Bldr. Adetunji Adeniran, in his presentation titled “Case Studies: Successful Gas Reticulation Projects, Lessons Learned and Prospects for Builders,” stressed that builders do not all have to focus on the same types of projects.

He observed that the conversation around gas reticulation has slowed down due to a lack of skill and recommended training for all professionals in the built environment. He also called for increased collaboration among stakeholders.

Ubong Usoro

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At a pre-event press conference, NIQS President QS Kene Nzekwe, FNIQS, highlighted the institute’s efforts to strengthen quantity surveying practices and processes to address economic turbulence.

This year’s AGM, with the theme “Strengthening Quantity Surveying Practices and Processes for Growth and Sustainability in a Turbulent Economy,” aims to tackle pressing industry issues.

Nzekwe stressed the critical role of quantity surveyors in resource allocation, cost management, and efficient project execution amid economic volatility.

“In these turbulent times, quantity surveyors must adapt and innovate to remain indispensable. Our role in ensuring value-for-money solutions is pivotal as the nation grapples with inflation and scarce resources,” he said.

Nzekwe outlined several initiatives by the NIQS to enhance construction outcomes, including Cost Databank Development: A comprehensive resource to provide reliable benchmarks for project cost estimation and planning, the Building and Engineering Standard Method of Measurement, designed to standardise cost estimation and improve transparency, resource Scheduling for Small Projects: Tailored guidelines to assist small-scale builders in resource allocation and scheduling, promoting inclusivity and sustainability.

The president urged stakeholders to adopt these frameworks to enhance accountability, improve project quality, and foster industry-wide best practices.

Nzekwe also addressed challenges such as hyperinflation and unqualified personnel and the risks they pose to project success and public safety. He criticised the engagement of unqualified personnel in cost management, citing their contribution to abandoned projects, cost overruns, and structural failures.

“Quantity surveyors are uniquely qualified to provide accurate cost assessments from project conception to completion. Engaging unqualified personnel jeopardises not only project outcomes but also public safety,” Nzekwe warned.

The NIQS called on the government to prioritise qualified quantity surveyors in construction projects and urged the separation of design and cost management responsibilities to enhance transparency and accountability.

As the AGM approaches, Nzekwe reaffirmed the institute’s commitment to collaborating with stakeholders to optimise project delivery and achieve sustainable growth.

“Our expertise can help navigate challenges, manage construction costs, and maximise scarce resources,” he said, emphasising that solutions from the AGM will shape the industry’s future.

The AGM will also provide an opportunity for the NIQS leadership to present achievements and gather feedback to strengthen the institute further.

“By fostering innovation, collaboration, and adherence to global best practices, we can create a resilient and efficient construction industry,” Nzekwe concluded.

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According to a press statement released by the association, the 2-day National Workshop on Affordable Housing in Renewed Hope Agenda, scheduled from Wednesday, April 24th to Friday, April 26th, 2024, will be declared open by the Honorable Minister of Housing and Urban Development, Arc Ahmed Dangiwa.

As part of the workshop’s activities, the association will hold elections to elect new leaders to steer its affairs.

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The event will feature prominent figures from the housing industry as resource persons, including Mr. Femi Adewole, Chairman of Coop Mortgage Bank, and Mr. Shehu Osidi, Managing Director of Federal Mortgage Bank of Nigeria.

Other expected are the Country Regional Representative of Shelter Afrique, Mrs. Elizabeth Ogonegbu, the Chairman of Copen group, Surv. Chime Ugochukwu amongst others.

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With a focus on addressing critical issues in affordable housing finance and delivery, the workshop aims to provide comprehensive solutions to housing challenges faced by vulnerable Nigerians, aligning with AHCN’s renewed mission of eradicating homelessness and fostering sustainable housing development.

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