President Bola Ahmed Tinubu has urged Nigerian banks to reduce their reliance on government securities and increase lending to businesses, infrastructure and other productive sectors of the economy.

Tinubu made the call at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.

The President, who was represented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the banking sector must help transform recent economic stability into stronger private-sector growth.

According to him, attractive returns on government securities had made lending to businesses less attractive to banks over the years.

He, however, said improving fiscal conditions should create more room for increased private-sector credit.

“So, from financing government, we need to move to financing growth,” Tinubu said.

Tinubu links recapitalisation to business lending

The President said stronger fiscal discipline would reduce pressure on government borrowing, while lower inflation could support reduced interest rates.

He explained that cheaper capital would encourage investment, production, job creation and higher incomes.

Tinubu also said the recently completed bank recapitalisation must go beyond strengthening banks’ balance sheets.

He stressed that the additional capital should translate into increased financing for Nigerian businesses and support their expansion across Africa.

“A bigger bank that does not finance a more productive economy is a sub-optimal outcome,” he said.

To encourage lending to productive sectors, Tinubu said the Federal Government was expanding guarantees, risk-sharing arrangements, blended finance and credit enhancements.

He identified the National Credit Guarantee Company as central to the strategy.

According to him, the measures would reduce lending risks and attract more private capital into productive investments rather than relying mainly on direct government funding.

President wants more long-term capital for infrastructure

Tinubu also called for increased mobilisation of long-term capital for infrastructure, industry, housing and energy.

He said Nigeria could not finance long-term development primarily with short-term funds.

The President urged deeper capital markets and stronger pension, insurance and asset-management sectors to mobilise domestic savings and foreign capital for long-term investment.

He added that Nigeria must compete aggressively for international capital because investors are primarily attracted by risk-adjusted returns.

“Capital is highly mobile. It is neither emotional nor patriotic; it goes where risk-adjusted returns are attractive and competitive,” he said.

Tinubu further said Nigeria was expected to return to the JPMorgan Bond Index soon, while the country’s capital market had recorded about 60 per cent year-to-date growth.

He said the developments reflected improving investor confidence and provided an opportunity to attract more capital for productive investment.

Tinubu identifies five priorities for financial sector

The President identified five priorities for building a resilient financial system: growth facilitation, inclusion, technology, long-term capital and trust.

On financial inclusion, he said having a bank account alone was not sufficient.

He argued that genuine inclusion should enable market women and young entrepreneurs to access affordable working capital based on viable cash flow rather than collateral they may not have.

On technology, Tinubu said artificial intelligence, open banking, digital identity and instant payments were transforming financial services.

He, however, warned that rapid digital expansion was also creating new vulnerabilities.

“Cybersecurity is now financial stability infrastructure,” he said, while calling for stronger data protection and fraud prevention.

Banks urged to support Nigerian businesses across Africa

Tinubu also urged banks to help Nigerian businesses become regional champions by financing exports and expansion through the African Continental Free Trade Area (AfCFTA).

He said the continental market, with more than 1.4 billion people, presented significant opportunities for Nigerian businesses.

The President urged banks to help transform micro-enterprises into large companies while redirecting capital from speculation towards production.

CBN says economic stability is returning

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, represented by the Deputy Governor, Economic Policy, Philip Ikeazor, said Nigeria’s macroeconomic stability was gradually returning.

He said monetary and fiscal authorities were working more closely together but acknowledged concerns about when ordinary Nigerians would begin to feel the impact of the improving indicators.

According to him, the benefits were expected to reach Nigerians as the collaboration between both authorities continued.

Cardoso said the authorities were working towards bringing inflation permanently into single digits and were engaging state governments because subnational governments also contribute to inflationary pressures.

He also credited banks for accepting the burden associated with the CBN’s cash reserve requirement as part of efforts to restore economic stability.

The CBN governor said the apex bank had incurred substantial costs in managing liquidity, while banks and fiscal authorities had also faced the effects of tighter monetary conditions.

He added that Nigeria’s economic buffers had been tested by external shocks, including the Iran conflict, but remained sufficient to withstand the disruption.

CIBN proposes SME hubs nationwide

The President of CIBN, Dele Alabi, called for the establishment of scalable SME Hubs across Nigeria to connect small businesses with infrastructure, skills, technology, markets and finance.

Alabi said many micro, small and medium enterprises remained constrained by high operating costs, inadequate infrastructure, limited market access, low productivity and insufficient digital adoption.

He said the proposed hubs could reduce operating costs, improve the bankability of small businesses and create a stronger link between recapitalised banks and the real sector.

Alabi said the initiative formed part of the Institute’s IMPACT Vision, introduced after he became the 24th President and Chairman of Council in May.

He said the vision was designed to move CIBN from identifying industry problems to developing practical solutions focused on professional standards, capacity building and responsible innovation.

Alabi also warned that artificial intelligence and fintech were creating both opportunities and risks for the financial system, including cyber threats, data governance concerns, market concentration, job displacement and systemic risks.

The post Tinubu Orders Banks to Shift Loans From Government to Businesses appeared first on Housing TV Africa.

Economic experts have expressed different opinions about President Bola Ahmed Tinubu’s reform programme. While some believe the policies are improving Nigeria’s economy, others say many citizens are yet to feel the benefits.

The debate comes as Nigerians continue to grapple with inflation, high transport costs and reduced purchasing power. Government officials say the reforms will strengthen the economy over time. Critics, however, argue that households need immediate relief.

Government Defends Economic Reforms

The Federal Government says its policies are restoring economic stability. Key reforms include the removal of the petrol subsidy, foreign exchange liberalisation and fiscal adjustments.

According to the government, these measures have improved Gross Domestic Product (GDP), increased revenue shared among the three tiers of government and reduced the debt service-to-revenue ratio. Officials believe these improvements will support long-term economic growth.

Former Vice President and African Democratic Congress (ADC) presidential candidate Atiku Abubakar disagrees with that assessment. He argues that many Nigerians continue to struggle despite the positive economic figures.

Economists Differ on Policy Outcomes

Professor Godwin Oyedokun of Lead City University believes the reforms deserve a balanced assessment. He said the policies address long-standing structural challenges in the economy.

However, he noted that many Nigerians now face higher living costs, rising inflation and weaker purchasing power. He explained that macroeconomic indicators may be improving, but ordinary citizens have yet to experience those gains.

Oyedokun added that the reforms will only succeed if they create jobs, increase incomes and improve living standards before the next general election.

Former President of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Okechukwu Unegbu, offered a different view. He acknowledged that some reforms are sound. However, he argued that poor implementation has limited their impact.

According to Unegbu, improvements in GDP have not translated into better conditions for consumers or businesses. He believes implementation remains the administration’s biggest challenge.

Financial analyst Kalu Aja has also supported some of the government’s policy decisions. He previously described fuel subsidy removal and exchange rate liberalisation as appropriate reforms. However, he also stressed the need for stronger implementation.

Economic Indicators Show Mixed Signals

Recent economic figures present a mixed picture.

The National Bureau of Statistics (NBS) reported that Nigeria’s inflation rate stood at 15.91 percent in June 2026. Inflation continues to put pressure on household budgets and business operations.

Meanwhile, the naira traded at ₦1,364.83 per US dollar at the official foreign exchange market on August 3. Petrol prices in Abuja ranged between ₦1,265 and ₦1,310 per litre.

These factors continue to influence transport costs, food prices, construction expenses and business activities across the country.

Why the Reforms Matter to Housing and Real Estate

Economic reforms have direct implications for Nigeria’s housing sector. Inflation and exchange rate fluctuations increase the cost of cement, steel, roofing materials and other construction inputs.

Higher fuel prices also raise transportation and logistics costs for developers. As construction costs increase, affordable housing projects become more difficult to deliver.

Mortgage financing is also affected. High living costs reduce household incomes, making it harder for many Nigerians to qualify for home loans or purchase property.

If inflation slows and economic stability improves, developers and investors may gain greater confidence. Lower borrowing costs could also encourage more housing projects and infrastructure investment.

Outlook

The debate over Tinubu’s economic reforms is likely to continue. Supporters believe the policies will deliver long-term benefits. Critics argue that ordinary Nigerians need to see tangible improvements sooner rather than later.

For the housing and real estate sector, the success of these reforms will depend on whether economic growth leads to lower construction costs, stronger household incomes and greater access to affordable housing.

The post Tinubu’s Economic Policies Divide Experts as Living Costs Remain High appeared first on Housing TV Africa.

President Bola Ahmed Tinubu has called on residents and business owners in the Federal Capital Territory (FCT) to fulfil their civic responsibilities by paying taxes, land charges and ground rents, saying compliance would enable the government to deliver more infrastructure projects across Abuja.

Tinubu made the appeal on Wednesday during the commissioning of the full-scope development of Arterial Road N5 (Obafemi Awolowo Way), which stretches from Life Camp Junction to Ring Road III in Dape District, Abuja.

Represented by Vice President Kashim Shettima, the President said sustainable infrastructure development depends on a strong partnership between government and citizens.

“To the residents and business owners enjoying this transformation, I urge you to meet your obligations. Pay your taxes. Clear your land fees and ground rents. Your compliance gives the FCT Administration the strength to build more roads like this one,” he said.

Tinubu described the newly completed road as a strategic economic corridor that would ease traffic congestion, improve connectivity and stimulate investment within the nation’s capital.

The President recalled that the Gwarinpa I District section of the road was commissioned in June 2025 and noted that his administration had fulfilled its promise to complete the remaining section.

“On that day, we made a pledge to you. We promised not to leave this vital artery half-done. Because the Renewed Hope Agenda is not about abandoned projects; it is about delivery from start to finish.

“And so today, we are back. We are back to close the circle. We are back to commission the Dape District Section of Arterial Road N5, from Life Camp Junction to Ring Road III,” he stated.

According to the President, the project was conceived, funded and completed under his administration after it was awarded to Julius Berger Plc and flagged off in October 2024 with a 15-month completion timeline.

Tinubu commended the Minister of the Federal Capital Territory, Nyesom Wike, for driving infrastructure delivery in the territory.

He described Wike as the administration’s “Engine of Execution” and praised Julius Berger for completing the project within schedule.

“Minister Wike, you and your team have shown what happens when political will meets accountability. We fund projects to see results, not to listen to grammar,” the President said.

He reiterated the Federal Government’s commitment to completing critical infrastructure projects under the Renewed Hope Agenda to improve mobility, boost economic activities and enhance the quality of life of residents.

The post Tinubu Urges Abuja Residents to Pay Ground Rents for More Infrastructure Projects appeared first on Housing TV Africa.

President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to expanding access to affordable housing, saying significant progress is being made under the Renewed Hope Agenda.

In a statement outlining achievements in the housing sector, Tinubu recalled that his administration pledged to deliver 100,000 housing units nationwide, with 50,000 earmarked for the first phase through large-scale housing developments across the six geopolitical zones and the Federal Capital Territory.

The President said implementation of the programme is ongoing, with more than 3,000 housing units already flagged off at Karsana in Abuja and the 2,000-unit Renewed Hope City in Ibeju-Lekki, Lagos State, nearing completion with sales already underway.

According to him, over 15,000 housing units are currently under construction across various parts of the country.

Tinubu stated that beyond physical construction, the government is addressing key structural challenges affecting housing delivery, including land titling, access to finance, equipment leasing and pricing transparency.

He explained that efforts are underway to formalise land ownership, improve access to construction equipment and establish transparent pricing mechanisms to reduce corruption and inefficiencies in the housing sector.

On housing finance, the President disclosed that the MOFI Real Estate Investment Fund has enabled 1,859 families across 25 states to access mortgages worth N128 billion at an interest rate of 9.75 per cent over a 20-year repayment period.

He also highlighted the role of the Family Homes Fund programme, which targets low-income households and vulnerable groups, with a mandate to deliver 500,000 homes and create about 1.5 million jobs nationwide.

While acknowledging the country’s housing deficit, Tinubu said closing the gap would require sustained efforts and long-term commitment.

He noted that the administration’s strategy focuses on integrating the entire housing value chain, from land administration and construction to financing and home ownership.

According to the President, housing is now being treated as a critical driver of economic growth rather than merely a social welfare programme.

“Housing has moved from a welfare conversation to a national growth strategy,” he stated.

Tinubu added that increased investment in housing is generating jobs, stimulating economic activities and contributing to national output, while expanding opportunities for more Nigerians to own homes.

He reiterated that the Renewed Hope Agenda is designed to make home ownership more accessible and affordable, describing decent housing as a right that every Nigerian should have the opportunity to attain.

The post Tinubu Highlights Progress on Affordable Housing, Says Over 15,000 Units Under Construction appeared first on Housing TV Africa.

President Bola Ahmed Tinubu has said his administration’s housing reforms under the Renewed Hope Agenda are yielding tangible results, with more than 15,000 housing units currently under construction across the country.

In a statement shared on X on Tuesday, the President said the government remains committed to fulfilling its promise of making homeownership more accessible and affordable for Nigerians through large-scale housing projects and sector-wide reforms.

Tinubu recalled that the Renewed Hope Housing Programme was designed to deliver 100,000 housing units nationwide, with an initial phase of 50,000 units spread across the six geopolitical zones and the Federal Capital Territory.

According to him, significant progress has already been recorded, including the development of more than 3,000 housing units in Karsana, Abuja, while the 2,000-unit housing city in Ibeju-Lekki, Lagos State, has reached an advanced stage of completion, with sales already underway.

“What stands today is no longer a drawing. We broke ground on more than 3,000 homes at Karsana in Abuja, the 2,000-unit city at Ibeju-Lekki in Lagos has reached advanced completion with sales already underway, and across the country, more than 15,000 units are rising as I write this,” the President stated.

Beyond housing construction, Tinubu said the administration has introduced reforms aimed at addressing long-standing challenges in land administration, housing finance and construction logistics.

He disclosed that the Federal Government is partnering with the World Bank to expand formal land registration, with the goal of increasing registered land ownership from less than 10 per cent to about 50 per cent nationwide.

The President also highlighted reforms in equipment leasing, which he said would enable contractors to access construction machinery more efficiently and reduce delays in project execution.

According to him, uniform pricing mechanisms have been introduced for government housing projects to improve transparency and eliminate opportunities for corruption in property allocation and sales.

He further revealed that the government is establishing building materials hubs across the six geopolitical zones to reduce construction costs and promote local sourcing of materials.

On housing finance, Tinubu said 1,859 families in 25 states have accessed mortgages worth N128 billion through the MOFI Real Estate Investment Fund, with repayment terms fixed at 9.75 per cent over 20 years.

He added that the Family Homes Funds programme is also supporting low-income earners and vulnerable groups, including widows, under a mandate to deliver 500,000 homes and create about 1.5 million jobs.

Despite the achievements recorded so far, the President acknowledged that Nigeria’s housing deficit remains substantial and would require sustained efforts over several years to address.

“I will not stand before you and declare the work finished, because it is not. The housing deficit this nation carries is counted in the millions, and it will take years of steady labour to close,” he said.

Tinubu argued that for the first time in decades, the entire housing value chain — from land acquisition and title registration to construction, financing and homeownership — is being addressed in a coordinated manner.

He added that housing has evolved from being viewed solely as a social welfare issue to becoming a key driver of economic growth, job creation and national productivity.

According to the President, increased activity in real estate and construction is contributing significantly to Nigeria’s Gross Domestic Product (GDP) while expanding opportunities across multiple sectors of the economy.

He reiterated his administration’s commitment to ensuring that more Nigerians have access to affordable housing, describing homeownership as a fundamental right rather than a privilege.

The post President Tinubu Highlights Renewed Hope Housing Achievements, Commends Dangiwa’s Leadership in Delivering 100,000 Housing Units appeared first on Housing TV Africa.

President Bola Ahmed Tinubu has announced that his administration is executing infrastructure projects on an unprecedented scale, with more than 2,700 kilometres of highways and major roads currently under construction, reconstruction, or rehabilitation across Nigeria.

He made the disclosure during a nationwide broadcast on Friday, where he outlined key achievements in infrastructure, housing, energy, and transport sectors under his administration.

Major Road Projects Across Nigeria

Tinubu listed several flagship road projects currently underway, including the Lagos–Calabar Coastal Highway, Sokoto–Badagry Super Highway, Abuja–Kaduna–Zaria–Kano corridor, and the long-standing East–West Road.

According to him, significant portions of these projects have already been completed or are nearing completion, with expected benefits including improved regional trade, reduced travel time, and job creation across multiple states.

He added that the scale of ongoing road construction reflects a deliberate effort to modernise Nigeria’s transport infrastructure and strengthen economic connectivity nationwide.

Housing Expansion Under Renewed Hope Programme

On housing, the President said the Renewed Hope Housing Programme, in collaboration with the Federal Housing Authority (FHA), is delivering more than 10,000 housing units across 14 states and the Federal Capital Territory.

He noted that major Renewed Hope Cities in Abuja, Lagos, and Kano are progressing steadily, describing the initiative as a major driver of employment generation, with over 300,000 jobs reportedly created through the programme.

Energy Sector Investments and Refining Capacity

In the energy sector, Tinubu said the $5 billion Nigeria LNG Train 7 project is nearing completion, adding that it will significantly boost Nigeria’s LNG production capacity and export earnings.

He also disclosed that increased domestic refining capacity, including modular refineries, is helping to reduce Nigeria’s dependence on imported petroleum products while conserving foreign exchange.

Power Sector and Rail Modernisation

The President stated that his administration is actively clearing legacy debts in the power sector, expanding transmission infrastructure, and investing in renewable energy sources.

He maintained that a stable power supply remains central to Nigeria’s economic growth and industrial development.

Tinubu also confirmed that rail modernisation projects are ongoing across the federation to enhance logistics, improve transportation efficiency, and promote economic integration between regions.

Economic Outlook and National Development

The President said the ongoing reforms and infrastructure investments are designed to ensure that “the benefits of reform are felt more directly in the daily lives of ordinary Nigerians.”

While acknowledging the scale of challenges ahead, Tinubu described the national development agenda as ambitious but necessary for long-term stability and economic transformation.

He reaffirmed his administration’s commitment to sustained infrastructure development, job creation, and inclusive economic growth across all sectors of the economy.

The post Tinubu Says Nigeria Building 2,700km of Roads, Expands Housing, Energy and Rail Projects Nationwide appeared first on Housing TV Africa.

My fellow compatriots,

Three years ago, you entrusted me with the sacred responsibility of leading our beloved nation at a defining moment in our history. I accepted that responsibility, fully aware of the magnitude of the challenges before us, but also deeply confident in the resilience and potential of the Nigerian people.

Today, on the occasion of the third anniversary of our administration, I speak to you not only as your President but also as a fellow citizen who understands the sacrifices many families have made in recent years and shares your hopes for a better Nigeria.

When this administration assumed office, our nation faced profound economic and structural difficulties. Mounting fiscal pressures, unsustainable fuel subsidies, declining revenues, exchange-rate distortions, rising debt-servicing costs, insecurity in several parts of the country, energy supply constraints, and declining public confidence in institutions all threatened our progress.

At the height of the subsidy regime, Nigeria was spending as much as ₦18.4 billion daily to sustain petrol subsidies—over ₦4 trillion in 2022 alone—resources that could have been invested in roads, healthcare, education, housing, and critical infrastructure. Multiple exchange rate windows and forex arbitrage created massive distortions, with Nigeria losing more than ₦8 trillion over three years to rent-seeking and speculative practices.

The situation demanded urgent and courageous action. Difficult but necessary decisions had to be taken to stabilise the economy and prevent a deeper national crisis. The easy choices would have been politically convenient. But leadership demands courage, especially when the right decisions are difficult.

Had we refused to act, our nation would have drifted toward fiscal breakdown, worsening poverty, and severe economic uncertainty. Together, we chose reform over ruin and decisiveness over hesitation. We chose long-term national recovery over short-term comfort.

These decisions came with sacrifice. The rising cost of living triggered by our measures placed enormous pressure on families, workers, and businesses. Young people searching for jobs felt discouraged. Many questioned whether these difficult decisions would lead to a better future.

I remain deeply conscious of those sacrifices, and I assure you: your sacrifice has not been in vain.  And today, I can say with confidence that Nigeria has stabilised and is moving forward again. Across the country, visible progress is taking shape.

VISIBLE PROGRESS AND ECONOMIC GROWTH

Our economy is now more competitive and better positioned for sustainable growth than it was in 2023. Public finances are improving. States and local governments have greater resources to invest in their people. Investor confidence is growing. The stock market is booming, with the All Share Index rising from 53,000 and market capitalisation of N30 Trillion in 2023 to a record All Share Index of 250,000 and market capitalisation of N160 Trillion this year.  Companies are declaring record profits and dividends.

Critical infrastructure projects are advancing at an unprecedented scale. Over 2,700 kilometres of highways and major roads are under construction, reconstruction, or rehabilitation, including the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway, the Abuja-Kaduna-Zaria-Kano Road, the East-West Road, and many rural access roads. Significant sections are already completed or nearing completion, improving transportation, reducing travel time, boosting regional trade, and creating thousands of jobs.

Rail modernisation projects are ongoing to improve connectivity, logistics, and economic integration across the federation.

In the oil and gas sector, the reforms we instituted have attracted billions of dollars in fresh investment from the international oil companies that had shunned our country. The $5 billion NLNG Train 7 project is nearing completion to boost LNG production capacity, exports, and dividends.

Domestic gas utilisation is expanding.  Local refining capacity has improved our energy security. With large-scale domestic and modular refineries operational, Nigeria is reducing its dependence on imported petroleum products and conserving foreign exchange.

For years, the power sector suffered from debt, underinvestment, and uncertainty, which weakened generation capacity and limited growth. Today, we are confronting those challenges directly.

Our administration is clearing legacy obligations, expanding transmission infrastructure, investing in renewable energy, and strengthening the national grid because no modern economy can grow in darkness. When power improves, businesses expand, industries grow, jobs are created, and families prosper.

We are determined to power Nigeria into a new era of industrial growth and economic opportunity.

EMPOWERING NIGERIANS: AGRICULTURE, EDUCATION, AND HOUSING

Agricultural interventions have supported millions of farmers by improving seedlings, fertilisers, mechanisation, and irrigation and by expanding access to finance and markets. We are opening new agricultural corridors to create jobs, strengthen supply chains, and reduce pressure on household incomes.

The Nigerian Education Loan Fund has provided over 1.5 million students with access to higher education, disbursing more than ₦282 billion to ensure that no willing student is denied access due to financial hardship.

Our Renewed Hope Housing Programme, along with that of the Federal Housing Authority (FHA), is delivering over 10,000 housing units across 14 states and the FCT, creating over 300,000 jobs and expanding access to affordable housing. Major Renewed Hope Cities in Abuja, Lagos, and Kano are progressing steadily. Our consumer credit initiative, CREDICORP, is opening up new economic opportunities for workers and families.

In healthcare, thousands of primary healthcare centres are being revitalised, while health insurance coverage is expanding for vulnerable Nigerians.

DEEPENING TELECOMS ACCESS AND INVESTMENT

We also took decisive action to stabilise the telecommunications sector, which remains one of the most important drivers of modern economic growth.
After years of severe operational pressures and declining investment, confidence is gradually returning to the sector. Telecom operators are expanding networks, investing in infrastructure, recruiting Nigerian talent, and widening digital access across the country.
A connected Nigeria is a more competitive Nigeria. Digital infrastructure is now essential to commerce, education, innovation, and national productivity.

YOUTH, TECHNOLOGY AND DIGITAL TRANSFORMATION

To our young people, I want you to know this nation believes in you. You are not a problem to be managed. You are the engine of Nigeria’s future. Across technology, manufacturing, creative industries, agriculture, sports, and entrepreneurship, we are expanding opportunities for you to compete and succeed. We are investing in digital skills, technical education, innovation, student financing, and enterprise support because the future must be driven by Nigerian talent, creativity, and productivity.

SECURITY AND NATIONAL UNITY

Security remains central to our national mission and to the creation of a virile and prosperous society. Our Armed Forces and security agencies have intensified operations against terrorists, bandits, kidnappers, oil thieves, and criminal networks. While challenges remain, many communities and highways are becoming safer and more economically active. We continue investing in intelligence, surveillance, logistics, technology, and inter-agency coordination. We are improving the capabilities of our armed forces and security agencies, and reclaiming the authority of the Nigerian state wherever criminality threatens peace and order. While we continue to confront the challenges head-on, progress is being made. I want to assure you that this government will not relent until every Nigerian can live, work, travel, and dream in safety.

My fellow Nigerians,
A nation develops when its people can see and touch progress. From highways under construction to rail modernisation and expanded energy investments, our goal remains clear: to build a Nigeria that works for Nigerians.

We have not solved every problem, and we are not yet where we want to be. But the foundation for recovery has been laid. The task before us now is clear: we must ensure that the benefits of reform are felt more directly in the daily lives of ordinary Nigerians.

We shall achieve this task by continuing to ensure that food prices, which have largely come down from their peak in 2023/2024, remain low.
We are also working to reduce transportation costs as operators of commercial trucks, buses, and taxis convert their petrol engines to CNG and switch to electric vehicles. We have also set our sights on creating more opportunities for decent work and enabling enterprise expansion.

A CALL TO NATIONAL PURPOSE

The journey of national renewal is not completed in a single year or a single administration’s tenure. Nations rise when their people remain united in purpose, disciplined in effort, and hopeful about the future.
We must choose hope over despair, unity over division, and nation-building over narrow interests.

But true security and prosperity require that every Nigerian feel included and valued. Nigeria belongs to all of us—no region, faith, or group should feel marginalised or forgotten. Our diversity is a source of strength. Whether Christian or Muslim, North or South, urban or rural, we rise or fall together as one nation under God.

To our youth, workers, entrepreneurs, farmers, professionals, security personnel, students, and diaspora: your sacrifices sustain our nation, and they will not be in vain. To the international community and investors: Nigeria remains committed to democratic stability, economic reform, responsible governance, and mutually beneficial partnerships.

My fellow Nigerians,
History teaches us that great nations are not built in comfort. They are built through sacrifice, resilience, courage, and collective purpose.
Ours is a nation of extraordinary people. We survived civil war and rebuilt.
We overcame dictatorship and restored democracy. We endured hardship and remain bearers of hope. The Nigerian spirit remains strong and unbroken.

Today, the world is watching our country again, not as a nation defined by its difficulties, but as a nation determined to rise. Across agriculture, infrastructure, power, technology, manufacturing, and industry, the signs of recovery are becoming clearer. Confidence is returning. Productivity is improving. Opportunity is expanding.

LOOKING FORWARD

The work ahead is enormous, but I remain optimistic because I believe deeply in this country and in you, the Nigerian people.

I ask you to keep faith with Nigeria. Let us reject cynicism and division. Let us move forward together, united in purpose, disciplined in effort, compassionate toward one another, and confident in the greatness that lies ahead.

My fellow Nigerians, history tests nations before it elevates them. Nigeria is passing through such a test. But I believe with all my heart that we shall emerge stronger, fairer, more united, and more prosperous than ever before.

Let us continue this journey together. Let us build a Nigeria that is secure, prosperous, inclusive, and respected worldwide. Let us continue to believe in the promise of our nation.

May God bless you all.
May God bless the Federal Republic of Nigeria.

The post FULL TEXT: Tinubu’s third anniversary speech appeared first on Housing TV Africa.

Nigeria has officially introduced a 30-day visa-free entry policy for citizens of Rwanda, marking a significant step toward strengthening diplomatic relations and boosting regional integration across Africa.

The development follows a directive from President Bola Ahmed Tinubu during his ongoing visit to Kigali, Rwanda, where he is participating in the Africa CEO Forum.

In a statement issued on Friday, the Nigeria Immigration Service (NIS) confirmed that all arrangements had been concluded for the implementation of the new travel policy.

The announcement comes after President Tinubu held bilateral discussions with Rwandan President Paul Kagame ahead of the summit, with both leaders exploring ways to deepen cooperation between Nigeria and Rwanda.

Nigeria responds with reciprocal visa policy

The Federal Government said the decision reflects Nigeria’s commitment to strengthening African partnerships and encouraging easier movement across the continent.

Rwanda already grants citizens of African Union member states a 30-day visa-free stay, making it one of the few African countries operating such an open-entry system.

According to the new arrangement, Rwandan citizens can now enter Nigeria without obtaining a visa beforehand for up to 30 days.

The visa-free access covers lawful purposes such as tourism, business activities and official engagements.

Conditions attached to the visa-free arrangement

The NIS clarified that visitors wishing to remain in Nigeria beyond the approved period must obtain the appropriate travel documents.

Applicants can process extended visas through Nigerian embassies, high commissions abroad or the Nigeria electronic visa system.

Authorities also disclosed that the policy applies across all approved international entry points, including airports, seaports and land borders.

Move supports African integration goals

Immigration authorities described the initiative as part of broader efforts to promote intra-African mobility, economic cooperation and stronger regional ties.

Officials noted that the agreement aligns with wider continental aspirations aimed at improving trade, tourism and movement among African nations.

The policy also reflects growing momentum around pan-African cooperation and efforts to reduce travel barriers among African countries.

The post Nigeria Grants Rwandans 30-Day Visa-Free Entry in New Travel Agreement appeared first on Housing TV Africa.

President Bola Ahmed Tinubu has revealed that Nigeria attracted nearly $20 billion in foreign direct investments (FDI) this year, attributing the inflow to reforms introduced by his administration to improve transparency, efficiency and investor confidence.

Speaking during a panel session at the ongoing Africa CEO Forum, President Tinubu said the government’s economic reforms are gradually positioning Nigeria as a more attractive and competitive destination for investors.

“In Nigeria, we’ve attracted nearly $20 billion in direct investment this year because we are efficient, transparent and open for business,” the President said.

Tinubu Pushes Local Value Addition for Mineral Resources

The President stressed that Nigeria would no longer support the export of raw minerals without domestic value addition, noting that the country possesses the capacity to process mineral resources into finished products.

He specifically pointed to opportunities in electric vehicle manufacturing, stating that Nigeria has the resources required to produce batteries and support industrial growth.

“With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment,” he said.

Tinubu explained that stronger collaboration between government and investors remains critical to accelerating development across Africa.

President Calls for Full Implementation of AfCFTA

The President also urged African countries to move beyond discussions and fully activate the African Continental Free Trade Area (AfCFTA).

According to him, African nations must work together and maximise the continent’s resources rather than operating in isolation.

“We have the African Continental Free Trade Area—it must not sit on the shelf. It needs to be activated properly through collaboration and effective use of resources,” Tinubu said.

He advocated an “Africa First” development strategy that prioritises local production, processing and manufacturing.

“We don’t want scavengers and extractors. We want partners who process and manufacture locally,” he added.

Dangote Refinery Shows Africa Can Deliver Large Projects

Tinubu cited the success of the Dangote Refinery as evidence that African nations can execute large-scale industrial projects when supported with the right policies.

According to him, Nigeria’s transition from dependence on imported petroleum products to becoming a net exporter demonstrates the impact of strategic government support.

“Today Nigeria is a net exporter of PMS, aviation fuel and other products. Dangote is supplying aviation fuel across Africa and to European airlines,” he said.

Tinubu Calls for African Financial Reforms

The President also questioned Africa’s continued dependence on foreign currencies for trade transactions.

He argued that conducting trade using local currencies would reduce costs and improve economic stability across the continent.

“If you produce in Nigeria, you can trade in naira. Why should African trade depend on dollars? That adds cost and instability,” he said.

Tinubu proposed an African commodity exchange platform that would allow direct trade among African countries.

He further called for the establishment of an African credit rating agency, arguing that many international rating firms do not properly understand African economic realities.

“The big American agencies dominate 95 per cent of the market, but they don’t understand our risks and opportunities,” he stated.

Nigeria Expands Digital Infrastructure

On digital development, Tinubu disclosed that Nigeria is currently laying 19,000 kilometres of fibre optic cables nationwide to improve connectivity and strengthen the digital economy.

He noted that Africa must move beyond basic telecommunications and begin investing in broader digital systems, including artificial intelligence, e-commerce, and data infrastructure.

“We need to fund Africa’s shift from basic telecoms to AI and e-commerce,” he said.

The President expressed optimism that despite current challenges, stronger cooperation and commitment among African nations would eventually drive greater economic integration.

“Pan-Africanism can’t remain a slogan. It has to be lived,” he said.

The post Tinubu Says Nigeria Attracted Nearly $20bn in Foreign Investments appeared first on Housing TV Africa.

The Kano State Government has reaffirmed its commitment to expanding access to affordable housing, revealing plans to align closely with President Bola Ahmed Tinubu’s Renewed Hope agenda to address housing challenges, especially among low-income earners.

The disclosure was made by the Kano State Commissioner for Housing Development, Arc. Ibrahim Yakubu Adamu, during the Renewed Hope Housing PPP Summit 2.0 held at the Shehu Musa Yar’Adua Conference Centre in Abuja.

According to a statement issued by the Director of Public Enlightenment at the Ministry of Housing Development, Adamu Abdullahi, the commissioner said the administration of Governor Abba Kabir Yusuf is intensifying efforts to provide wider access to decent and affordable housing for residents.

Kano Plans Easier Access to Housing

Arc. Adamu explained that the state government is introducing different initiatives aimed at simplifying the process through which residents can access housing opportunities.

He noted that the government is prioritising practical housing solutions capable of making home ownership easier and more accessible for the public.

According to him, authorities are working toward creating a system that removes barriers and allows more citizens to benefit from housing projects.

The commissioner also stressed that the government sees public-private partnerships as a major pathway to achieving large-scale housing development across the state.

State Receives Housing Proposals From Developers

Speaking on the summit theme, “From Policy To Projects: Financing and Delivering Housing at Scale Through PPPs,” Adamu said the discussions reflected the direction Kano State is already pursuing.

He disclosed that several proposals from credible development partners had already been submitted to the government and are currently undergoing review.

“Proposals are received, and they will soon be appraised towards actualising the housing ideas proposed for the benefit of our people,” he stated.

He commended the Federal Government’s commitment to tackling the nation’s housing deficit and improving the welfare of citizens through strategic housing interventions.

Kano Approves 480 Housing Units Under Mega City Project

As part of efforts to accelerate housing delivery, the commissioner revealed that the state government had approved the construction of 480 housing units under a project named Gida-Gida Mega City.

The housing development, located at Rijiyar Gwan-Gwan along Maiduguri Road, is expected to feature facilities designed to support a modern urban environment.

The project represents another step in Kano’s efforts to scale up housing delivery while creating sustainable communities for residents.

The post Kano Targets Affordable Housing Through Public-Private Partnerships appeared first on Housing TV Africa.