General
Fashola Tasks States to Prioritize Housing Challenges
By Adedapo Adesanya
The Minister of Works and Housing, Mr Babatunde Fashola, has called on state governments to renew their commitment to housing development in order to increase access to affordable housing to the citizenry.
Mr Fashola made the call in his keynote address at the meeting of the States’ Commissioners responsible for housing matters during the 10th Meeting of the National Council on Lands, Housing and Urban Development held in Lagos State.
Speaking at the event themed Housing Development as a Catalyst for Job Creation, Social Inclusion and Economic Development, he explained that the inequality among the nations and people can be reduced drastically if the housing need of the poor is considerably addressed in the states.
“These are some of the reasons why I seek to persuade all of you to go back to your states to persuade your Governors to re-commit to housing development.
“I said re-commit because I am aware that many states are doing something, but you will agree that there is a scope to improve and scale-up.
“One reason why this will require an All of Government Action is the fact that land is a critical component of capital formation and it is controlled by the states.
“I am persuaded that appropriate, targeted and purposeful use of lands, such as for the development of housing by the states and private sector, will unleash prosperity in all states that aggregate to national prosperity,” Mr Fashola explained.
The Minister gave an example of Lagos State days of Lateef Jakande and added that the present Governor Babajide Sanwo-Olu remained an example of what state governments could do to deepen housing supply and reap the benefits that come with it.
Mr Fashola stated that land and housing was a sub-national matter of jurisdictions, pointing out that what the states do to facilitate the processing of land titles, documentation, Certificate of Occupancy and other Geographic Information Services (GIS) details would go a long way in facilitating easy housing delivery.
He informed the meeting that the federal government was undertaking a National Housing Programme in 34 states aggregating to about 5,000 housing units, and trying to complete an inherited ministerial pilot housing scheme across the states which had a little over 6,000 units.
Mr Fashola said the decisions to recommit to housing development by state governments would facilitate the creation of a variety of jobs because the services of various professionals in the built industry such as town planners, architects would be required.
”Artisans like masons, plumbers, carpenters and food vendors will not be left out of the value chain of prosperity resulting from economic development.
“When construction actively starts, the economic explosion happens, supplies of sand, cement, reinforcements, roofing, plumbing, painting, and other components get to work.
“This drives a critical business in all our states, the micro small and medium enterprises who make or supply these building components,“ he said.
In the same vein, he explained that the Federal Housing Authority and Federal Mortgage Bank are also intervening as federal agencies in respective housing development directly through cooperative societies and the provision of development loans and mortgage loans.
In his remarks, Governor Sanwo-Olu, while assuring participants at the council of implementing the recommendations of the meeting, disclosed that the state had begun to implement the commendations agreed on at the 9th National Council on Lands, Housing and Urban Development.
On making land available for building by providing lands to build a mini-city at Imota in Ikorodu Division of Lagos State.
He said the state would develop about 3,500 housing units of 2 and 3 bedrooms in phases for civil servants and those in the informal sector, who fall within the category of low-income earners and to be acquired at a single-digit interest rate mortgage plan that could span a period of 15 years.
He added that his administration was determined to develop decent homes within the states as well as meet the housing needs of the citizens irrespective of their location.
Mr Sanwo-Olu, who said that homeownership was a vital tool for taking people out of poverty, assured the council that Lagos State would collaborate with the private sector to adopt the monthly rent payment as proposed by the Minister of Works and Housing.
In his vote of thanks, the Permanent Secretary, FMWH, Mr Babangida Hussaini, commended the excellent leadership of the works and housing sectors.
He also noted the commitment of council members to the 10th Meeting of the National Council on Lands, Housing and Urban Development and urged them to go back and implement the council resolutions.
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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