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National Assembly members to buy N50Million flat each in Abuja

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Members of the National Assembly are currently subscribing to a mortgage facility that will make each lawmaker cough out N2.5m every month, SUNDAY PUNCH has reliably learnt.

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It was gathered that the lawmakers are buying flats in an estate close to Apo Legislative Quarters in Abuja at N50m each, while payment for each unit will be spread over 20 months.

The Senate had, at the resumption of plenary on April 4, 2017, entered an executive session, where the mortgage facility was discussed behind closed doors.

“An estate developer brought the idea, believing that payment for the facility will be secure, being that members of the National Assembly will have regular income during the two-year payment period. It is a smart move for the developer,” a senator who was at the meeting told our correspondent.

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The source said the legislators were facing accommodation challenges in the Federal Capital Territory.

He said, “The Chairman of Senate Services Committee,Ibrahim, Gobir, announced that some estate developers wanted to sell housing units and those interested would pay in installment.

“You will put your name down if you are interested and N2.5m installment will be deducted from your account monthly for 20 months. It is more like the federal mortgage facility.”

According to him, several senators who were governors of their states had acquired houses in choice areas in the country’s capital.

“The former governors have their houses in Maitama, what will they do with mortgage facility? But I know those who applied for two units – about five of them – and N5m will be deducted from their accounts every month.

“Also, it is like savings for those who want to invest in it. Even if they do not subscribe to the service, they will eventually spend the money before the month ends. Sometimes, if you don’t have the money to spend, you will manage yourself. I just put down my name to show that.”

The source also hinted that the opportunity might be extended to the House of Representatives.

Some senators were said to have signified their interest in the facility almost immediately after it was announced, while some applied for two units.

He said some senators had formed groups in which all members contribute a specific amount monthly.

He said, “We have some of us who contribute N2m monthly – about 25 of them – and they rotate the collection of N50m by one member every month.”

Gobir could not be reached for confirmation and details of the mortgage facility.

Calls made to his telephone line rang out on Sunday. He also did not reply a text message sent to him.

When asked about the mortgage facility on Thursday, the Chairman, Senate Committee on Media and Public Affairs, Senator Sabi Abdullahi, who is also the Vice Chairman of the Committee on Senate Services, said he was not aware of the housing plan. “I don’t know anything about it,” he said.

 

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Why You should Patronize Cassandra’s Restaurant and Lounge

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Why You should Patronize Cassandra’s Restaurant and Lounge

Good food is the foundation of genuine happiness.” – Auguste Escoffier. as Escoffier said, one of the best places to enjoy a sumptuous meal that gladdens the heart is Cassandra’s Restaurant and Lounge.

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Known for tasty and healthy food prepared under a thorough hygiene environment, Cassandra’s Restaurant has become the haven of genuine happiness for those desiring good food

The beautiful thing is they are specialist on both local and Continental meals and can be delivered to you destination.

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That is why Cassandra has become the favorite of dignitaries and celebrities. For your party, house warning, red carpet events, try Cassandra restaurant. A trial will convince you

 

Contact:

@casandras_restaurant

08061152335

 

 

Why You should Patronize Cassandra's Restaurant and Lounge

 

 

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UBA Celebrates Africa Day in Style, Commits to Empowering Youths for Leadership Roles

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UBA Celebrates Africa Day in Style, Commits to Empowering Youths for Leadership Roles

 

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Africa’s Global Bank, the United Bank for Africa (UBA) Plc marked the this year’s Africa day, with fanfare. The event which was celebrated across the banks 20 African subsidiaries, including New York, UK, France and Dubai, culminated into a mini carnival at the corporate head office in Marina, Lagos as it witnessed  a rich culture of African people on display.

The bank said the event was aimed at encouraging Africans home and abroad to be patriotic and embrace their culture.

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It was all colour and glitz as a troupe of dancers representing Nigeria, Ghana, Zambia, Côte d’Ivoire, Senegal, Zimbabwe, among other African countries, entertained the audience from the entrance of the building to its doorways through to the Tony Elumelu Amphitheatre Hall. Their overall performances exuded good vibes and earned them ovation from all.

Noting that Africa has unarguably positioned herself as the second largest continent in the world with its rich cultural heritage, the bank said the continent remains the only one in the world that was evidently bequeathed with the most colourful and distinctively diverse culture appreciated across the globe.

From her aesthetic art works, ethnic costumes, expressive dances, mind-blowing plethora of languages, amazing dishes, tourists attractions, and wildlife among others, Africa is seen as a world power that is yet to explore.

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It is, therefore, to proudly and powerfully project her cultural heritage that UBA hosted the event in Lagos an to commemorate this year’s Africa Day. It said that part of its aim was for dignitaries to map out lasting solutions to persisting challenges in the continent.

Themed, “Educate an African Fit for the 21st Century: Building Resilient Education Systems for Increased Access to Inclusive, Lifelong, Quality, and Relevant Learning in Africa,” for us at UBA, it only reinforces our belief and passion for education as exemplified in our foundations National Essay Competition where winners who emerge are given scholarships through school.

According to the Group Managing Director, United Bank for Africa, Oliver Alawuba, “We are in 20 African countries and four countries outside Africa. Our focus has always been on not only driving investments into Africa but also to empower Africa’s youth by honing the critical thinking prowess of our youth as well as groom them for leadership roles across the continent.

Alawuba said UBA aspires to develop and grow in the world, adding that unity is critical and very important in Africa hence the emphasis on how to change the narrative. “Unity is critical and very important for the future of Africa, we need to remain united to achieve our aspirations and the youth are critical to that growth”, he said.

Consequently, as one of Africa’s leading financial services institutions, with a pan-African footprint spanning 20 African countries and globally in the US, UK, the United Arab Emirates and France, UBA says it’s fully committed to unifying Africa and empowering youths for the future. It also continues to lead the narrative focused on the development, growth, and unity of Africa

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Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World …We consider this project CSR – Dangote

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Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World

…We consider this project CSR – Dangote

President Bola Ahmed Tinubu has described the newly commissioned Oworonshoki-Apapa Expressway as the Tenth Wonder of the World.

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This is just as he commended the President of Dangote Industries Limited, Alhaji Aliko Dangote, for his selflessness in actualising the project.

President Tinubu, represented by Senate President Godswill Akpabio, enthused that the 37-kilometer road, which commenced in 2018 by the former administration and completed in 2024, is a win for all Nigerians.

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He explained that the importance of Lagos State to Nigeria makes it very vital and as such must work for the benefit of all.

According to him: “Lagos is home to all, I thank Aliko Dangote for coming up with this initiative and in partnership with HiTech have delivered the Tenth Wonder of The World.

“Lagos is not the only state experiencing growth and development under the renewed hope agenda. I also congratulate the Minister of Works David Umahi for his passionate commitment to structural development across Nigeria,” he said.

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Speaking on the “extremely poor” condition of the road before December 2018, Dangote stressed that the road “severely hampered the evacuation of goods and restricted access to the markets, paralyzing the shipping and manufacturing industries and disrupting supply chains across the entire economic landscape.

“Before the completion of this road, it used to take two weeks before we get to the port, and in about 18 months, we lost over N60bn in demurrage…The successful completion of this project is an example of the positive impact that can be achieved when the public sector collaborates with the private sector.” Dangote said

“Utilising the visionary framework of Executive Order 007 in Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Dangote Group has been able to mobilise capital for the complete refurbishment of the entire 37 kilometers length of Apapa-Isolo-Oworonshoki road and its expansion to 10 lanes.”

Dangote added that the Group was privileged to partner with the Federal Government in the transformative efforts, reaffirming its commitment to national development and prosperity.

He also stated that the scheme must be revisited to make it more viable for the private sector participants. “In this case, we have so far recovered only 40 percent of our investments and the balance is not due until 2027, we consider this project merely as Corporate Social Responsibility.

“We believe that a more commercial interest rate recovery should be allowed given the high cost of capital in the Nigerian fiscal environment,” he said.

In his remarks, Engr Umahi also commended the Dangote Group for delivering a well-executed project, adding that the quality of the Dangote Cement is a testament to the value seen on the road.

“I was once trapped for 8 hours on my way to the airport and so, I understand how terrible the road was. We are celebrating this project today because it was well done and a display of new technology. It is fully completed with solar-powered streetlights.

“In the same vein, the Third Mainland Bridge wasn’t just another rehabilitation work, a road that has been standing for about 40 years… to ensure that our bridges last longer, I’m happy to announce that Mr. President has approved the ban on the excavation of sands 10 kilometers from bridges across Nigeria.”

The Governor of Lagos State, Babajide Sanwo-Olu, represented by his deputy, Obafemi Hamzat revealed that about 20 companies had relocated from the Apapa axis of the state owing to the condition of the road, “…the state of the road is unimaginable. We are grateful to Aliko Dangote, HiTech for the excellent job they did. It used to take over seven hours to drive from one end of the road to the other, it now takes around an hour,” he said.

 

Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World
…We consider this project CSR - Dangote

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