President Tinubu announced major infrastructure openings, urban development initiatives, and directed the FMBN to extend mortgages across Lagos, Abuja, and Kano.
1 report, 1 independent
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What happened
President Tinubu announced major infrastructure openings, urban development initiatives, and directed the FMBN to extend mortgages across Lagos, Abuja, and Kano.
Who's involved
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The entities involved
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Bola Ahmed Tinubu
12th Governor of Lagos (1999–2007) and President of Nigeria since 2023
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Lagos
largest city and former capital of Nigeria
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Abuja
capital city of Nigeria
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Federal Mortgage Bank of Nigeria
Federal Mortgage Bank of Nigeria (FMBN) was established in 1956, known then as the Nigerian Building Society (NBS)
Nothing else this week.
Related events
- Abuja is being developed as a planned model for urban development, serving the purpose of decongesting Lagos.
- Urban growth in Lagos is straining infrastructure and services, with Lekki functioning as a key port area.
- AG Mortgage Bank accesses funding from the Federal Mortgage Bank of Nigeria.
- The Nigerian government, through the Minister of Housing, has directed the apex mortgage institution (FMBN) to increase loan ceilings and allow RSA contributors to fund home ownership.
- Lagos reflects Nigeria’s deepening housing crisis, with specific high-cost areas like Ikeja, Lekki, Lagos Island, and Ikoyi being highlighted.