Housing ministry budgets N3.5bn for debt settlement

The Federal Ministry of Housing has revealed that it’s going to spend N3.5bn to settle liabilities tied to the Millennium Improvement Objectives, Sustainable Improvement Objectives, Zonal Intervention Tasks, and different direct mandate initiatives throughout the nation.

This monetary intervention revealed within the 2025 Appropriation Invoice is a part of the Ministry’s broader dedication to resolving excellent obligations whereas driving vital infrastructure growth.

Along with the debt settlement, the ministry has undertaken numerous ongoing tasks aimed toward enhancing infrastructure and streamlining administrative processes.

A notable allocation of N85m was directed in the direction of the valuation of Federal Authorities landed properties, each domestically and internationally, to align with the Worldwide Public Sector Accounting Requirements.

Key infrastructural tasks embrace highway development and erosion management measures throughout Nigeria’s six geopolitical zones.

The Ministry allotted N724m every for interventions within the South-East, North-Central, and South-West areas in addition to within the South-South, North-East, and North-West zones.

These tasks span states like Lagos, Niger, Rivers, Akwa Ibom, Borno, and Kaduna, amongst others.

Training additionally obtained important consideration, with N520m earmarked for the development of school rooms in over 20 states, together with Lagos, Rivers, Kano, Enugu, and Sokoto. Equally, N1.25bn was allotted for the development of talent acquisition centres in states corresponding to Yobe, Oyo, Plateau, and Zamfara to bolster vocational coaching and employment alternatives.

Efforts to modernise land administration processes are additionally evident.

The Ministry has dedicated N280m to automate the issuance of Certificates of Occupancy and N350m for automating ministerial consents on secondary land transactions. Moreover, N72m was allotted for consultancy providers to enhance land-based income era, together with a overview of land cost regimes.