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Domak Shelter Ltd. Partners with VIO, Offers 1000 Housing Units

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Domak Partnership with VIO
vio home welfare staff cooperative Society partner with Domak Shelter Ltd to Build 1000 Housing Units for Staff

DOMAK SHELTER LTD. PARTNERS WITH VIO, OFFERS 1000 HOUSING UNITS

A Leading real estate firm in Nigeria ‘Domak Shelter Ltd.’ is partnering with the Directorate of Road Services, Vehicle Inspection Office (VIO) to offer 1,000 Housing units to its Staff at Domak Garden City, Karshi.

Few days ago, Domak Shelter Ltd. launched the Face of Domak Project- a marketing competition platform through which all Domak products will be sold while the best marketer would be rewarded handsomely.

Interestingly, the Face of Domak project kick-started with 25,000 easy House ownership scheme and the marketers have already step up their games.

In line with this innovative project, the Management Team of Domak Shelter Ltd. ably led by the Chief Executive Officer ‘Amb. Kingsley Azonobi’ signed and sealed a Memorandum of Understanding (MoU) today, 4th August, 2020 at the VIO Headquarters, Mabushi with the Management team of the VIO Home & Welfare Staff Cooperative Society Ltd. to build 1,000 Housing Units for the staff of VIO.

 This agreement was signed in the presence of the 9 members of the Face of Domak Board of Trustees, Management team of the VIO Home &Welfare Staff Cooperative Society Ltd. and the members of the press.

Bar. Felix Nnadi who is head of Consultancy Units of the Cooperative Society commended the leadership of Domak Shelter Ltd. for this innovative project and expressed his excitement about the signing of the MoU.

In his statement, He said the initiative came along with liberal terms which will mark a legacy in the life of the VIO officials. According to him, the approval for the signing of this MoU was obtained from the Head of National body of the Organization ‘Engr. Sir Paul Bebe’ as well as the excos of the Cooperative Society Nationwide.

Speaking on the August event, Usman Yahaya who is the Director of Administrations VIO made reference on a similar project with the former Minister of Federal Capital Territory Administration (FCTA) who is now the Governor of Kaduna State ‘Gov. Nasir El- rufai’ and how benefiting the project was to the civil servants at that time.

However, he urges Domak Shelter Ltd to make the Housing Scheme an affordable venture for the civil servants.

“The issue of Housing is very important in any civil servant life. When you come to look at it critically, after you must have served for 35-36 years then you retire and the pension is not forth coming. (Even the Housing, where to put your head is no longer there). Therefore, this forms a very important aspect of any civil servant life.”  He said

“Coming up with this very exercise is a very nice one for the VIO. This will go along way to help the staff of VIO plan their retirement life” He added.

Domak Shelter Ltd. Set to Giveaway N10 Million to the Face of Domak

Mr. Mberi Yaro, the Vice chairman of the Directorate, Conference of Directors VIO stated his willingness for every VIO officers to participate in this opportunity. He therefore advised the both parties involved in the MoU to ensure commitment to this laudable project.

Responding, Amb. Kingsley Azonobi expressed his gratitude and commended the VIO management team for the partnership deed. In his statement, he assured them his commitment towards delivering affordable 1,000 housing units to their staff as well as real time monitoring technology ‘Project Watch’ which will enable all subscribers get the actual coordinates to their land.

Worthy of note, the legal adviser to the VIO ‘Bar. Udah’ a 33 years legal practitioner commended the efforts put together in the preparation of the Memorandum of Understanding (MoU). He therefore advised the both parties to honor the terms and conditions of the MoU.

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Economy

North east commission pledges to remove 500,000 idle youths from the streets

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North east commission pledges to remove 500,000 idle youths from the streets
North east commission pledges to remove 500,000 idle youths from the streets

The North East Development Commission-Education Endowment Fund (NEDC-EEF) has expressed determination to remove over 500,000 idle youths from the streets in the next five years in the region.

Mr Macauley Hunohashi, Head of Media and Publicity of the fund, in a statement on Saturday in Abuja, said the Chairman of NEDC-EEF, Chief David Kente, made the pledge at an interactive session with Sen. Abdulazeez Nyako.

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He applauded the visionary and patriotic effort of Sen. Nyako which saw to the establishment of the commission, saying “we will sustain that vision to take the north east region to greater heights.”

Kente said the NEDC-EEF would continue to interface with consultants and experts on how to achieve part of its core mandate of converting the vast human resource the region was endowed with to human capital.

Earlier, Sen. Nyako stressed the need for the commission to provide vocational technical traning and mentorship for young men and women in the region through Local Aprenticiship Scheme.

Nyako explained that the local aprenticiship scheme was a neighbourhood empowerment project which focused on removing young people from the streets by linking them to Master Trainers within the same community.

” This will enable them to learn local trades such as motor mechanic, panel beating, volcanising, tailoring and the likes, with a monthly stipend for both the Master Trainer and the Trainee.”

The former lawmaker who represented Adamawa Central Senatorial District from 2015 to 2019, said the concept was discovered to be alot cheaper, more broad-based and with the potential to improving neighbourhood security.

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Economy

Nigeria’s Backlog of Debts Hits N31Trillion

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Nigeria’s Backlog of Debts Hits N31Trillion

Nigeria’s Backlog of Debts Hits N31Trillion

Nigeria’s backlog of debts seems to Skyrocketed to N31 Trillion. The Debt Management Office (DMO) on Wednesday published Nigeria’s total public debt stock as of June 30, 2020, pegging the country’s entire debt at N31 Trillion, which indicates an increase of N2.38 trillion within a three-month span.

Nigeria’s total public debt stock includes the debt stock of the Federal Government, the 36 states, and the Federal Capital Territory.

According to Punch, the DMO also released reports on Nigeria’s Actual External Debt Service Payments in the Second Quarter of 2020, as well as Nigeria’s External Debt Stock as of June 30, 2020.

For the country’s public debt stock as of June 30, 2020, the DMO said, “The data shows that in naira terms, the total public debt stock which comprises the debt stock of the Federal Government, the 36 state governments and the FCT stood at N31.009trn or $85.897bn.

“The corresponding figures for March 31, 2020, were N28.628trn or $79.303bn.”

The DMO noted that the increase in the debt stock by N2.381trn or $6.593bn was as a result of the $3.36bn budget support loan from the International Monetary Fund, new domestic borrowing to finance the revised 2020 Appropriation Act.

It said this includes the issuance of the N162.557bn Sukuk, and promissory notes issued to settle claims of exporters.

The debt office added, “The DMO expects the public debt stock to grow as the balance of the new domestic borrowing is raised and expected disbursements are made by the World Bank, African Development Bank and the Islamic Development Bank which were arranged to finance the 2020 Budget.

“Recall that the 2020 Appropriation Act had to be revised in the face of the adverse and severe impact of COVID-19 on government’s revenues and increased expenditure needs on health and economic stimulus, among others.”

It also said that additional promissory would be issued in the course of the year.

According to the debt office, new borrowings by state governments were also expected to increase the public debt stock.

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Economy

North-East Education Endowment Fund Sets To Hit Ground Running- Kente

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NEDC
North-East Education Endowment Fund Sets To Hit Ground Running- Kente

The North East Development Commission-Education Fund( NEDC-EEF) says it is set to hit the ground running.

Chief David Sabo Kente, board chairman of the fund, stated this during a critical meeting with some consultants.

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The Chairman’s statement was released to newsmen by Macaulay Hunohashi, Head of media and publicity of the NEEEF in Abuja on Saturday.

Hunohashi said that following the inauguration of the Board of Trustees of the North East Development Commission-Education Endowment Fund (NEDC-EEF)on August 7, 2020, plans had reached advance stage to hit the ground running.

The move,he added would be with the engagement of top-flight consultants in critical areas of the core mandate of the fund.

He also disclosed that the tehcnical team, led by the Chairman, who he “is bringing his wealth of experience as an accomplished business man and philantropist,” has continued to grill consultants within the dormain of the core mandate of the fund.

This he said includes, but not limited to Grants and Scholarship, Skills Aquisition, Infomation and Communication Technology and Training of Teachers as well as Technical, Vocational and Entrepreneurship Training-TVET.

Hunohashi qouted Kente as reminding the consultants of the need to see themselves as partners in progress, noting that the selection process for their emergence was meticulous and methodical, with a view to engaging the best in the country.

He said the vision of the architects of NEDC-EEF was aimed at addressing the education deficit of the north east region exercebated by activities of insurgents, stressing that “having been entrusted with that mandate, we cannot afford to fail our people”.

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25,000 Housing Units Project at Domak Garden City ,karshi

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