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Firms Unveil Plans To Build Model Houses For Young Nigerians

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In a bid to tackle the issue of affordable housing, renowned sustainable real estate developer Kairos Hof Consultants in partnership with Louie Innovation have announced its latest venture, Z Korting, an innovative housing initiative targeting young adults in Nigeria.

The project is aims to empower Nigerians by providing accessible housing opportunities.

At a press conference in Abuja, the Managing Director of Kairos Hof Consultants Ltd and Group Chairman of Kairos Hof Group, Olagoke Fagbohun, emphasized the company’s commitment to addressing the socioeconomic needs of Nigerian youths.

He highlighted Z Korting as a platform enabling young adults to realize their dreams of homeownership. Adding that it can be accessed through https://www.kairoshof.com https://www.kairoshof.com/zkorting.

“The pilot phase of the project comprises 17 five-story apartment buildings designed to cater to urban living preferences while offering comfort and youthful experiences. Initially launching in Hof City, Abuja, the initiative aims to expand to other major cities across Nigeria.

“Notably, Z Korting is tailored to appeal to the younger demographic, particularly digital nomads seeking a blend of community and innovation.

“In terms of deliverables, first of all, we are starting with 17 blocks for the first cluster.
17 blocks of five story buildings providing approximately a 100 plus apartment so that we can launch the first phase of this project and meet up with our demand.

“Second, we need media support to enlighten people about this, we can only do that with the collaboration of media houses.

“In terms of making sure people enjoy the quality of what we intend to provide, the simple thing to do is to make sure the information is out there, and what this means is that we are going to do a lot of publicity about it,” he said.

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In the same vein, the Ojehomon Anetor Director of Business Development, described the project as offering a holistic living experience, encompassing work, leisure, and dining options.

He said, “Given Nigeria’s burgeoning youth population, comprising 70% of the total populace, Z Korting fills a crucial gap in the housing market by providing real estate investment opportunities tailored to the younger generation. By offering apartments above basic standards, the initiative aims to empower young professionals to become property owners and generate income from their investments.

“In essence, Z Korting presents an opportunity for young Nigerians to own their future, with homeownership serving as a testament to their achievements and a stepping stone to financial empowerment.”

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NLC Rejects Electricity Tariff Adjustment, Sets For Protest

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By Abubakar Yunusa

The Nigeria Labour Congress (NLC) has rejected plans by the Federal Government to regularise electricity tariffs for customers for Bands A, B and C.

In a communique released on Sunday after the National Executive Council (NEC) in Yola, Adamawa State, the labour union vowed to lead mass nationwide protests across Nigeria should the government continue with its plan.

Last Thursday, Minister of Power, Adebayo Adelabu, said lower bands would be upgraded to Band A.

In its communique sign by NLC General Secretary, Emmanuel Ugboaja, the labour union rejected the “forcefully migration” of consumers from lower bands to Band A.

“On the Migration of Electricity Consumers with a view to increasing tariff: NEC unequivocally rejects the ongoing sham reclassification of electricity consumers by the Nigerian Electricity Regulatory Commission (NERC), which seeks to forcefully migrate consumers from lower bands to Band A under the guise of service improvement while, in reality, imposing unjustified extortion on the masses,” the NLC declared.

“This systematic exploitation, sanctioned by the Ministry of Power, is nothing short of economic violence against the working class and broader Nigerian populace.

“It is evident that the ruling elite, acting as enforcers of global monopoly capital, are determined to further deepen the misery of the Nigerian people through incessant tariff hikes, increased taxation, and relentless economic strangulation.

“Whereas inflation has soared, wages remain stagnant, and the cost of living has become unbearable, the ruling class continues to transfer the burden of their fiscal irresponsibility onto the already impoverished working masses.

“NEC-in-session warns that any attempt to announce further electricity tariff increases will be met with mass resistance.

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“Consequently, the Congress resolves to immediately mobilise for a nationwide protest should the Ministry of Power and NERC proceed with their exploitative plan to further hike electricity tariffs under any guise.

“The NLC shall not stand idly by while the Nigerian people are subjected to the unholy machinations of capitalist profiteers and their state collaborators.”

For decades, Nigeria, Africa’s most populous nation, has been faced with intractable energy challenges, no thanks to an epileptic power supply which significantly affects productivity levels. Despite the privatisation of the electricity sector, power generation, transmission and distribution have remained bogged with hydra-headed monsters of policy inconsistency, low investments and operational challenges.

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In 2024, NERC approved the upward review of electricity prices with a unit of power costing about N250 for Band A customers.

The cost of petrol and diesel which are readily available alternatives have equally increased by fivefold, compounding the dilemma of consumers. In the same year, NERC granted at least some State’s Electrify Regulatory Commissions licenses to power plants and power distribution.

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Uba Sani Disburses N375m Loan To 10 Communities

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By Abubakar Yunusa
Uba Sani, Kaduna state governor, says 10 communities received $25,000 cheques each from the community revolving fund to support farmer groups.

According to a statement by the state government, the cheques presented on Saturday amount to a total of N375 million.

Sani explained that the World Bank-assisted Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) Project provided the fund to help beneficiaries invest in climate-smart rain-fed agriculture.

The benefitting communities include Anchau, Kuzuntu, Kubau, Zuntu, Jenau, Likoro, Jaja, Hunkuyi, Kudan, and Danmahawayi.

Sani said the fund aligns with his administration’s commitment to rural transformation, which is designed to support registered farmer groups under the umbrella of community interest groups (CIGs).

“Kaduna state is proud to be at the forefront of initiatives aimed at combating climate change and ensuring sustainable livelihoods for our people,” he said.

‘’Over the years, we have implemented a range of strategic policies and programs designed to enhance ecological conservation, mitigate the impact of climate change, and promote economic resilience among our citizens.

‘’With the support of ACReSAL, the State Government unveiled a 10-year Climate Change Policy, trained 500 women, youth, and school-feeding vendors in the production of biomass briquettes as an alternative to wood fuel.”

Also, Sani said his administration disbursed loans in Kudan and Kubau local governments under phase one of the initiative, covering a total of 82 CIGs.

He further explained that phase two would commence in the second quarter of the year, including four local governments in the central and southern senatorial zones, alongside two area councils in the northern senatorial zone.

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According to the governor, the concluding phase of the implementation will cater to the remaining 11 local government areas in the state.

Joy Agene, the task team lead of the ACReSAL project, praised the government for its commitment to environmental sustainability, saying that the state remains one of the best-performing sub-nationals in the country.

Balarabe Lawal, minister of environment, also spoke at the event, stressing that the community revolving fund is a loan, not a grant, and must function as an investment fund for community and farmer groups.

‘’The loan is intended for communities, facilitating circulation among farmers and sustained through groups that ensure the loan remains active within your community via timely repayment, thereby enabling other farmers to reap the benefits,’’ he said.

“The ACReSAL project constitutes a significant component of the Federal Government’s aim to rehabilitate one million hectares of degraded land, contributing to the overarching goal of restoring four million hectares by the year 2030.

‘’The initiative will additionally contribute to diminishing the susceptibility of countless individuals living in extreme poverty in northern Nigeria, thereby enhancing their capacity to engage in the stewardship of their surroundings.”

At the event, Sani announced the procurement of the amphibious excavator, otherwise known as a swamp buggy, to prevent and control erosion, deepen waterways, and maintain and clean rivers.

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Afreximbank unveils new documentary series on Africa’s growth

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The African Export-Import Bank (Afreximbank) has announced the launch of its new documentary series titled “Impact Stories.”

A statement issued on Friday in Abuja by Vincent Musumba, Afreximbank’s Communications and Events Manager, stated that the documentary aimed to showcase the bank’s developmental impact across various sectors and countries in Africa.

It also highlighted the bank’s influence in the diaspora.

Musumba said Season One of the series, which consisted of six episodes, filmed across six countries and sectors, went on air on Afreximbank TV (www.youtube.com/@afreximbanktv) on Feb. 27, 2025.

He said the series produced by the Afreximbank TV team and CNN’s Created Studio services, sought to spotlight the bank’s interventions, incorporating multi-faceted narratives that brought the bank’s initiatives to life.

“Through testimonials of individuals, businesses, communities and economies that have been positively impacted by the interventions, the series creates an emotional connection.

“It also creates a shared commitment of an African vision focused on transforming trade and economic self-determination.”

Musumba said the inaugural season, consisting of six episodes, showcased some of Afreximbank’s development impact through inspiring short documentary-style films.

He said the episodes featured the Zimborders Beitbridge project which involved the expansion, upgrade and improvement of Beitbridge Border Post in Zimbabwe.

“This explores the transformative effect of Afreximbank’s investment in modernising the border post, and showing how improved infrastructure is addressing trade inefficiencies, fostering intra-African trade and driving regional growth.”

He said other episodes include the Glo-Djigbé Industrial Zone (GDIZ) in Benin, a project led by Afreximbank investee company, Arise Integrated Industrial Platform (Arise IIP).

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“This project is focused on driving industrialisation, job creation and end-to-end production on the continent.”

Another episode was on Oando PLC, which showcased the organisation’s successful acquisition in a key Nigerian oil sector joint venture and its transformative impact on local content and economic prosperity.

“Other episodes are Eva’s Coffee in Kenya, an SME business driving export development and local value chain expansion; Reine Ablaa, a rising music star and alumni of Afreximbank’s CANEX Music factory initiative.”

Musumba said an episode was on the ongoing success of the bank’s Pan African Payments and Settlement System (PAPSS).

He quoted Mrs Anne Ezeh, Director of Communications and Events at Afreximbank as saying: “Afreximbank was founded to drive Africa’s economic independence through trade and trade-enabling infrastructure.

“For the past 32 years, we have consistently translated that mandate into impactful projects and initiatives across the continent.

“The Impact Stories series represents an avenue to showcase the tangible progress we are making to transform the economic fortunes of the African people while reminding us of the development challenges that remain.”

Ezeh stated that compelling impact storytelling, when combined with data, evidence, and personal stories, made these elements potent tools for advocating positive change and motivating others to champion a cause.

She said new episodes would be released weekly. (NAN)

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