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The Federal Government has unveiled plans to deliver 154,800 affordable housing units nationwide under the newly launched Tinubu Mass Social Housing Scheme, marking one of Nigeria's most ambitious housing initiatives in recent years. The programme, which will be implemented across all 774 local government areas, is designed to expand homeownership, address the housing deficit, and support broader reforms in housing finance, land administration, and urban development.
FG Targets 154,800 Affordable Homes in Major Nationwide Housing Push
President Bola Tinubu has announced plans to deliver 154,800 affordable housing units across Nigeria under the newly introduced Tinubu Mass Social Housing Scheme (TMSHS). The initiative, which will be implemented in two phases across the country's 774 local government areas, is designed to expand access to decent housing for low-income households, informal sector workers, young families and other vulnerable groups.
Lagos Blames Rising Lagoon Water Levels for Worsening Flooding
The Lagos State Government has attributed the flooding experienced across several parts of the state to a significant rise in lagoon water levels, explaining that elevated water levels are preventing stormwater from draining efficiently into the lagoon. The government says the situation is temporary and is being closely monitored as the rainy season continues.
Bayelsa Intensifies Flood Mitigation as Residents Welcome Drainage Clearance
Residents of Bayelsa State are expressing renewed optimism as the state government accelerates flood mitigation efforts through extensive drainage clearance across Yenagoa, the state capital. The intervention comes as authorities prepare for the peak of the rainy season following recent flood warnings issued by the Federal Government, with officials prioritising the restoration of major waterways to improve stormwater flow and reduce flood risks.
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Federal Government Seeks ₦1.2 Trillion Through July Bond Auction
The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, has announced plans to raise up to ₦1.2 trillion through the reopening of three Federal Government of Nigeria (FGN) bonds at its July 2026 auction. The fundraising exercise forms part of the government's domestic borrowing programme to finance budgetary obligations while deepening Nigeria's domestic capital market.
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Dangote Refinery Ends Naira Petrol Pricing, Adopts Dollar-Based Sales
Dangote Petroleum Refinery has ended naira-denominated pricing for Premium Motor Spirit (PMS), commonly known as petrol, replacing it with a United States dollar-based pricing framework for refined petroleum products. Under the new template, the refinery fixed the ex-depot price of petrol at $0.779 per litre, marking a significant shift in how marketers will purchase fuel from the facility.
Import Duty Exemptions Reach ₦3.4 Trillion in First Half of 2025 - Customs
The Nigeria Customs Service (NCS) has disclosed that import duty exemptions granted by the Federal Government reached ₦3.4 trillion in 2025, underscoring the scale of fiscal incentives provided to support strategic sectors of the economy. The agency noted that while the exemptions reduced potential customs collections, they were implemented to stimulate investment, encourage industrial production and support critical sectors of national development.
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“Progress begins the moment systems replace shortcuts, and accountability becomes the standard.”
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