General
75% of Nigerians Homeless, Live in Rented Houses
By Modupe Gbadeyanka
A report by the Centre for Affordable Housing Finance in Nigeria has revealed that the homeownership rate in the country is estimated at 25 per cent of the total population, implying that 75 per cent of the nearly 200 million people in Nigeria live in either rented apartments or are homeless.
The Head of Private Banking at Stanbic IBTC Bank Plc, Ms Ruby Onwudiwe, who cited this report during her presentation at the Stanbic IBTC Blue Talks webinar, urged Nigerians to explore the benefits of homeownership by taking advantage of untapped investment opportunities in mortgage offerings.
At the event held recently and tagged All You Need to Know About Buying A House (Mortgage), she noted that the current situation presents a massive opportunity for prospective homeowners to consider owner-occupancy for shelter, investment and also as an asset to leverage for accessing financial facilities.
She reiterated that there is a need for conscious and deliberate plans as well as policies aimed at empowering Nigerians to become homeowners, especially in choice environments.
According to her, “The COVID-19 pandemic has presented opportunities for investors and intending homeowners to explore structured and convenient mortgage offerings that fit their plans.”
Citing the Stanbic IBTC Home Loan Products, Ms Onwudiwe said the Mortgage package was designed to help Nigerians to acquire fully developed properties in any of the pre-approved locations in the country while the Equity Release allows access to over 80 per cent of an existing property.
“With a track record of responsibility towards loan repayment reflected by bank statements presented, getting a home loan is easy. It’s about character, it’s about the seeker’s cash flow, having collateral and working in a reputable organisation for at least six months.
“Also, we have a fiduciary responsibility of ensuring that the loan seeker is not under duress and the loan is not a burden. If the loan seeker is not able to handle repayment, consideration of seeker’s family income is looked into as only a spouse’s income can determine loan repayment,” she added.
Speaking on the specific parameters for accessing the plans, Ms Onwudiwe said eligibility begins by having a verifiable and stable source of income or a structured business.
Other parameters for income earners are: applicant’s age, salary, confirmation at work, loan size subject to affordability, loan repayment period, and so on.
For business owners, parameters include: monthly income, assets under management with the bank and the net worth in applicant’s capacity.
According to Ms Onwudiwe, Stanbic IBTC Holdings PLC, as Nigeria’s leading financial services provider, through its different mortgage plans, remains committed to fulfilling the house ownership dreams of Nigerians.
Stanbic IBTC recently upgraded its mobile app to a one-stop Super App consisting of the entire range of end to end financial products such as My Bank, Mutual Funds, Pension, @Ease, Insurance and Stockbroking. The upgraded app is revolutionary and a first in the Nigerian market.
It can be downloaded on Google Play store for Android phones as well as App Store for iOS phones and from the Stanbic IBTC website.
General
Gbajabiamila Remains President Tinubu’s Chief of Staff—Presidency
By Modupe Gbadeyanka
The presidency has reacted to speculations that Mr Femi Gbajabiamila has been removed as the Chief of Staff to President Bola Tinubu.
It was alleged that Mr Gbajabiamila has been replaced with the President’s Principal Private Secretary, Mr Hakeem Muri-Okunola.
Mr Muri-Okunola went to Abuja to take up this role after leaving as the Head of Service of the Lagos State Civil Service.
Reacting to the reports on social media on the purported removal of Mr Gbajabiamila, a former Speaker of the House of Representatives, the presidency said no such change has been made.
In a statement signed on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, members of the public were advised to disregard the report as “there is absolutely no truth to this story.”
“The Chief of Staff remains in his position. The Principal Private Secretary likewise remains in his role. Hakeem Muri-Okunola has not replaced Femi Gbajabiamila as Chief of Staff.
“The viral claim is a fabrication by mischievous purveyors of fake news whose sole aim is to create disharmony within the government.
“We reiterate that news media should always verify their information before publishing or sharing on social media,” the statement said.
General
Eyesan Promises Bold Reset in Nigeria’s Upstream Sector as New NUPRC Head
By Adedapo Adesanya
The new chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has assumed office with a clear message to advance the country’s upstream oil and gas sector in line with the mandate of the commission as enshrined in the Petroleum Industry Act (PIA) 2021.
According to a statement signed by Mr Eniola Akinkuotu, the Head of Media & Strategic Communications at the upstream regulator, the NUPRC boss made this assertation during her first town hall meeting with management and staff on Tuesday December 23, 2025.
She further disclosed plans to make the commission a business enabler and re-ignite investments in the upstream sector.
Recall that President Tinubu nominated Mrs Eyesan to take over the NUPRC after the abrupt resignation of her predecessor, Mr Gbenga Komolafe as well as his counterpart in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed.
In her new capacity, Mrs Eyesan also set a firm production ambition of growing Nigeria’s output and increasing gas production.
“The goal is that we must enable the industry, we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody.
“My main objective is to ensure that we make a difference. I believe the NUPRC is at the Center of the industry,” she said.
The commission boss who has served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency and efficiency in operations.
The NUPRC head said with the support of staff and management, the NUPRC will become the gold-standard regulator in Africa. She also promised capacity development, stronger technical depth and sustained engagement with stakeholders, unions and professional teams.
On leadership style, Mrs Eyesan promised an open-door policy and frequent staff engagement, while also soliciting for support and cooperation as the industry embarks on the next phase of transformation.
“If we work together we can unleash opportunities, I don’t see impediments only opportunities,” she added.
General
Christmas: Tinubu Calls for Religious Tolerance Amid Rising Insecurity
By Adedapo Adesanya
President Bola Tinubu has called on Nigerians to embrace religious tolerance, peace, and unity, urging citizens of all faiths to reject violence and intolerance amid ongoing security challenges across the country.
In his 2025 Christmas goodwill message issued on Wednesday by his Special Adviser on Information and Strategy, Mr Mr Bayo Onanuga, the President emphasised that no Nigerian should suffer discrimination or violence because of their religious beliefs, reaffirming his administration’s commitment to safeguarding freedom of worship and national cohesion.
“As your President, I remain committed to doing everything within my power to enshrine religious freedom in Nigeria and to protect all people of different faiths from violence,” Mr Tinubu said, noting that all Nigerians have the constitutional right to live, worship, and pursue their aspirations in safety and dignity.
The President acknowledged growing concerns around religious intolerance and insecurity, revealing that he had engaged extensively throughout the year with leaders of Nigeria’s two major faiths.
In the last few months, the country faced a spate of attacks including kidnapping of school children and armed terror, involving the death of a high ranking army personnel.
He also said the government would continue to build on these engagements to strengthen collaboration with religious institutions, prevent conflict, and promote peaceful coexistence.
President Tinubu described Christmas as a period for reflection on the message of Jesus Christ as the Prince of Peace, urging Nigerians to draw inspiration from values of love, compassion, and goodwill that cut across all major religions.
He commended Christians in Nigeria for their contributions to national development, particularly their role in caring for the vulnerable and promoting harmony within communities.
“The love for God and love for humanity is at the heart of all the great faiths. These shared values must continue to bind us together as one indivisible and resilient people,” he said.
Reiterating his administration’s stance on security, the President said the government’s commitment to protecting Nigeria’s unity and stability has remained unwavering since he assumed office in 2023. He stressed that the state would not tolerate violence targeted at any group on the basis of ethnicity or belief.
President Tinubu also appealed to Nigerians travelling during the festive season to exercise patience and discipline on the roads, wishing them safe journeys and returns.
Expressing optimism about the country’s future, the President said that with faith in God and collective resolve, Nigeria would overcome its challenges and build a nation that future generations would be proud of.
He concluded by wishing Christians in Nigeria and around the world a Merry Christmas and Nigerians a happy New Year in advance.
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