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Housing Deficit: FMBN Boss Pledges Efficient Mortgage System

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The new Managing Director of Federal Mortgage Bank of Nigeria (FMBN), Mr Ahmed Dangiwa has pledged to evolve a mortgage financing regulatory system to provide solid foundation for housing finance in Nigeria.
Dangiwa made the pledge last Wednesday in Abuja at the official hand over from the outgoing Ag. Managing Director, FMBN, Mr Richard Esin.
He noted that the new management team would ensure that the regulatory system was effective and robust to protect interests of existing and prospective homeowners and Nigerians with respect to home ownership.
“Meeting the affordable mass housing needs to Nigeria remains a major challenge with estimated 17 million housing deficits in the country anticipated to cost almost N60 trillion.
“Innovative solutions must be put in place to bridge this large gap”, he added.
Dangiwa, who is an Architect, noted that from his experience in the mortgage banking over the years, there have been several challenges facing the sector, especially those specific to mortgage financing.
According to him, existence of a viable mortgage system which will strengthen home ownership for low-income earners is imperative for tackling the challenges facing the housing sector in Nigeria.
He said the bank would develop a “Mortgage Finance Change Agenda” that would serve as guiding compass into the housing reform agenda of the government.
Expressing gratitude to the Federal Government for the privilege bestowed on him and management team to serve, he promised to build a firm foundation for the future of the housing sector in Nigeria by repositioning the bank.
He, however, urged all stakeholders including the staff to think strategically outside the box in proffering financial solutions to the challenges
In his valedictory speech, Esin explained that in his tenure the bank embarked on self re-invention and reposition for the effective fulfillment of its mandate of promoting home ownership.
Esin stated that the re-invention was based on its four point agenda namely, corporate governance compliance, bank profitability, operational effectiveness and debt recovery.
He recalled that the bank recorded successes with N2.7 billion operating surplus in 2016 financial year, the first in over 20 years of the history of the bank from an accumulated loss position of  N43 billion.
Esin noted that National Housing Fund collections grew to N43 billion from a cash balance of N13 billion.
According to him, the bank created 1,303 mortgages within the last 15 months to the tune of N10.3 billion while use of biometric verification number was introduced in payment of refunds to retirees for transparency.
He said that the bank has also completed and commissioned eight housing estates nationwide in the first quarter of 2017 leading to the delivery of about 1,300 housing units to the national stock.
Appreciating the strong support of the senior management and all staff, he urged the staff to extend moral support and commitment to the new leadership.
Esin assumed leadership of FMBN on February 15, 2016 and served in that capacity until his disengagement on April 13, 2017.

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USTR Criticises Nigeria’s Import Ban On Agriculture, Others

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The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the  Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.

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Expert Seeks Cooperative-Driven Investments In Agriculture 

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A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.

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NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers

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The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.

King Onunwor

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