The Federal Government collaborates with the National Institute of Credit Administration (NICA) to establish a consumer credit framework in Nigeria.
NICA will offer advisory and advocacy services, aiming to enhance economic activities and financial inclusion.
With Nigerians showing interest in credit for purchases like appliances and loans, NICA’s role is pivotal.
Government initiatives like the NICA Act and the Presidential Council on Industrial Revitalization underscore commitment to economic advancement and consumer credit development.
PricewaterhouseCoopers Nigeria estimates Nigeria’s dead capital at $900 billion, mainly in residential real estate and agricultural land, including N230 billion of abandoned government property.
The housing deficit stands at 28 million units amid a projected population of 223.8 million. High costs deter housing demand, aggravated by bureaucratic hurdles and informal land titles hindering property utilization.
The government aims to reform and unlock $300 billion in dead capital to boost sustainable real estate projects and address housing deficits.
The Bank of Industry and the International Finance Corporation will co-host a stakeholder conference in Lagos on February 5, 2024. Themed “Empowering Futures: A Collaborative Journey in Financing Nigeria’s Industrial Sector,” the event aims to discuss current operating conditions and foster industrial growth.
Key industry players, including CEOs of banks, microfinance institutions, and insurance companies, will attend.
BOI’s CEO emphasises sustainable projects, while IFC stresses innovation and skill development for a resilient economy.
In Abuja’s Bwari Area Council, insecurity persists as bandits attacked a house near a military base, abducting Aondo Ver, a Federal Housing Authority director. The incident occurred around 12:30 a.m., with kidnappers entering through the fence.
The Army hasn’t commented yet. This follows recent kidnappings in the area and the FCT. Kidnappers target various victims, causing fear.
The police made a breakthrough by arresting a suspect linked to the abduction and murder of Nabeeha Al-Kadriyar.
Canadian Prime Minister Justin Trudeau on Thursday condemned an attack against a mosque in the city of Mississauga in Ontario province, which is being probed as a hate crime and which rights advocates described as being part of a rise in Islamophobia.
Police said someone threw two rocks through the window of a Mississauga mosque on Sunday, on the eve of the anniversary of a mosque attack in Quebec City that killed six people in 2017. CBC News said no one was injured in the incident.
“Islamophobia has no place in any of our communities,” Trudeau said on X, formerly called Twitter.
