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75% of Nigerians Homeless, Live in Rented Houses

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affordable housing

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.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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REA is an Institution for Expanding Opportunity—Tegbe

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Tegbe Fayose REA board

**Tasks Board to Prioritise Improving Livelihoods of Nigerians

By Modupe Gbadeyanka

The newly inaugurated board of the Rural Electrification Agency (REA) has been advised to prioritise the well-being and economic progress of ordinary Nigerians in every decision it makes.

This charge was given by the Minister of Power, Mr Joseph Tegbe, when he inaugurated the board, which has the former Governor of Ekiti State, Mr Ayodele Fayose, as chairman, and Mr Abba Aliyu as its chief executive.

Mr Tegbe described the board’s constitution as consistent with President Bola Tinubu’s drive to strengthen governance and accountability across public institutions.

He further described the agency as an institution for expanding opportunity, noting that every mini-grid, solar home system and electrified market, school, health centre or farm represents an investment in human capital and economic inclusion.

He pointed to REA’s existing programmes, the Energising Education, Economies and Agriculture Programmes and the Africa Mini-Grids Programme, as evidence of that strategy at work, and noted that the Board, constituted under Section 130 of the Electricity Act, takes office at a defining moment for the organisation.

On governance, the Minister drew a clear line between the board’s non-executive role of strategic direction and oversight and management’s responsibility for day-to-day execution.

He noted that the board meets quarterly to review performance while management retains operational latitude between meetings, subject to full accountability.

Mr Tegbe commended Mr Fayose’s record as a former Governor of Ekiti State, assuring of the Ministry’s continued partnership and a description of electricity as an instrument of inclusion, opportunity and prosperity.

In his remarks, the board chairman described President Tinubu’s decision to appoint Mr Tegbe as a statement of seriousness rather than a routine appointment, a signal that the administration would settle for nothing less than a lasting solution to Nigeria’s power problem.

He called the Minister a technocrat whose technical depth and managerial competence have already produced a positive turning point for the sector, affirming that REA’s leadership was proud to work with him on that effort.

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How Airports Can Reduce Ground Emissions Before Full Infrastructure Upgrades

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ElectroAir APA-100

Airport sustainability is no longer a separate environmental project. It is becoming part of daily operational planning, procurement, infrastructure development, and airline partnership discussions. For many airports, the main pressure is to reduce emissions on the ground, improve airside efficiency, and prepare for stricter environmental expectations, while continuing to support aircraft reliably every day.

The challenge is that infrastructure does not change overnight.

Full electrification remains an important direction for aviation ground operations. Fixed 400 Hz power, electric ground support equipment, charging infrastructure, energy management systems, and cleaner stand concepts are all part of the future airport. But in practical terms, many airports are still working through phased investment plans. Grid capacity may be limited. Charging points may not yet cover all operational areas. Remote stands, maintenance zones, cargo aprons, and temporary operating areas may still depend on mobile equipment.

This is where the sustainability conversation needs to become more realistic.

Airports do not have to wait for a complete infrastructure transformation before reducing emissions. There are practical steps that can be taken now, especially in aircraft ground power. The key is to look at emissions reduction as a staged process, not a single final destination.

One of the first areas to assess is the age and efficiency of existing diesel ground power units. In many operations, older GPUs continue to provide essential support because they are mobile, familiar, and independent from fixed power systems. But older diesel platforms may no longer fit the expectations of modern airport sustainability strategies. They can become harder to justify in procurement discussions, environmental reporting, and long-term fleet planning.

Replacing outdated diesel equipment with lower-emission alternatives can be a meaningful step. A modern diesel GPU with Stage V / Tier 4 Final engine technology, for example, can help operators reduce the environmental impact of ground power while keeping the operational independence that many stands and service areas still require. This does not replace the need for electrification. It helps bridge the gap while infrastructure continues to develop.

That bridge matters because airside operations are rarely uniform.

A major hub may have fixed power at many contact stands, but still rely on mobile GPUs for remote aircraft positions, maintenance activities, irregular operations, or construction phases. A regional airport may not yet have the capital or grid capacity for large-scale electrification. An MRO facility may need mobile power that can move between aircraft, hangars, and outdoor working areas. A ground handler may need equipment that supports mixed aircraft types under high turnaround pressure.

For these environments, sustainability must work in real conditions. A solution that looks good in a strategy document but does not support the daily operating model will not last.

Decision-makers should therefore evaluate aircraft ground power through several practical questions. Where is fixed power available today? Where is it planned next? Which stands still require mobile equipment? How many hours do diesel GPUs operate per day? Which aircraft types are supported? Are units oversized, outdated, or difficult to position? Is the equipment aligned with current emissions standards? Can it support cleaner operation where grid power is available?

These questions often reveal that the best path is not a single equipment choice, but a balanced fleet strategy.

Fixed power should be used where infrastructure is mature and operationally reliable. Battery-powered equipment can be introduced where duty cycles, charging plans, and climate conditions are suitable. Lower-emission diesel and plug-in hybrid ground power units can support areas where independence, runtime, and flexibility remain critical. Together, these solutions allow airports to reduce emissions without weakening operational resilience.

Plug-in hybrid utility power functionality is especially relevant in this transition phase. When external utility power is available, the unit can operate with reduced fuel use. When it is not available, the same equipment can continue supporting aircraft independently. This gives airports and operators more flexibility as infrastructure develops stand by stand, rather than forcing a complete change before the airside environment is ready.

Compact design also plays a role in sustainable operations. Airports often focus on emissions, but space efficiency is part of the same discussion. Crowded aprons create movement challenges, increase operational friction, and affect safety. A compact mobile GPU that provides the required output without adding unnecessary equipment bulk can support cleaner, more organized, and more efficient aircraft servicing.

This is why modern ground power procurement should not be based only on output figures. Power rating matters, but so do emissions performance, footprint, maneuverability, serviceability, spare parts strategy, operating environment, and fit with future infrastructure plans. Airports need equipment that can serve today’s operation while remaining relevant as sustainability expectations continue to rise.

For a deeper look at how this transition applies to aircraft ground power, ElectroAir has outlined its view on lower-emission ground power and the practical role of modern mobile GPUs in supporting airport sustainability before full electrification is possible. The company’s ElectroAir APA-100 is one example of this approach, combining compact mobile design, Stage V / Tier 4 Final engine technology, and optional plug-in hybrid utility power for operators that need both reliability and a more future-conscious path.

The next stage of airport sustainability will be built through practical progress. Some changes will come from major infrastructure investment. Others will come from better equipment decisions, smarter fleet planning, and the replacement of outdated assets with more efficient alternatives.

For airports, the priority is not to choose between today’s operation and tomorrow’s goals. The priority is to connect them. Ground power is one of the places where that connection can already begin.

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PFIPC Probe: ICPC Recommends Adeyemi’s Prosecution

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ICPC poor funding

By Adedapo Adesanya

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has submitted an interim report to President Bola Tinubu on its investigation into the alleged fictitious Presidential Foreign Investment Promotion Council (PFIPC), recommending the prosecution of its alleged Director-General, Mr Adeniyi Adeyemi.

ICPC’s Chairman, Mr Musa Aliyu, disclosed this after meeting President Tinubu at the Presidential Villa, Abuja, exactly 30 days after his agency was directed to conduct a thorough investigation into the PFIPC.

According to Mr Aliyu, preliminary findings revealed that the federal government never appointed Adeyemi and that the purported appointment letter, gazette and other documents used to establish the agency were forged.

The case centres on an alleged corruption and forgery scandal involving the disputed government entity, PFIPC, which was not approved.

Speaking at the State House, Mr Aliyu said the commission’s investigation established that Mr Adeyemi was never appointed by the Federal Government and that the documents used to legitimise the agency were forged.

The ICPC boss said the investigation also revealed significant weaknesses in government verification and oversight processes, which were exploited to create the impression that the PFIPC was a legitimate government agency.

“Our interim report found that there are weaknesses in verification, inter-agency oversight and government processes. We discovered that those weaknesses were exploited by Adeniyi, with some level of negligence.

“Our investigation found that no Federal Government funds were approved or disbursed to the fake PFIPC/PEAC,” the ICPC chairman stated.

According to him, investigators also uncovered two additional agencies allegedly created by Adeyemi, the FCT Investment Promotion Agency (FIFA) and the Foreign Investment Promotion Agency and Public Private Partnership (PIPA-PPP).

Mr Aliyu said the disputed DG “used forged legislative instruments styled as enabling acts, and used them to support opening of bank accounts.”

The ICPC chairman said the commission recommended Adeyemi’s prosecution, administrative sanctions against public officers whose negligence enabled the operation of the fake agency, and institutional reforms to strengthen internal controls across Ministries, Departments and Agencies (MDAs).

“Our recommendation is that Mr Adeniyi Adeyemi should be prosecuted. Administrative sanctions should also be imposed on public officers whose acts of omission and negligence facilitated the illegal operation of PFIPC/PEAC.

“There is also a need for institutional reforms so that the internal controls of MDAs can be strengthened to prevent this kind of illegal activity,” he stated.

The chief investigator noted that the report submitted to the President is only an interim one, adding that investigations are continuing to identify other collaborators and build a stronger criminal case.

“We have continued with the investigation of the activities of Mr Adeniyi Adeyemi and his collaborators so that we can unravel more facts and file criminal charges that can stand the test of time before a court of competent jurisdiction,” he said.

The PFIPC scandal came to light after the Presidency disowned the council, describing it as a non-existent government agency despite its appearance in the 2026 Appropriation Act with a N1.3 billion budget allocation.

The federal government has since filed criminal charges against Mr Adeyemi over allegations including forgery, impersonation and fraudulent misrepresentation, while separate investigations by the House of Representatives and the ICPC continue into how the fake agency operated within government institutions.

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