The Federal Government has charged all agencies under the supervision of the Ministry of Housing and Urban Development to work in synergy to achieve the “Renewed Hope Agenda” Action Plan for housing development nationwide.
The Minister of Housing and Urban Development, Mr Ahmed Dangiwa, gave the charge on Wednesday during a multi-agency meeting with all heads of agencies and institutions under his supervision in Abuja.
Speaking at the meeting, Dangiwa said the meeting was part of the efforts of President Bola Tinubu to ensure that all housing agencies tasked with housing Nigerians, worked together as partners and not at cross purposes.
“We have received extensive briefings from the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), as part of our ministerial briefings since they fall directly under the ministry’s supervision.
“For the housing agencies under the Ministry of Finance, we have engaged Family Homes Funds Limited (FHFL).
“Today, we heard from the Nigeria Mortgage Refinance Company (NMRC).
“I must acknowledge that the management of NMRC has reached out earlier to meet with us; however, events have kept pushing it forward.
“Specifically, I called this meeting as part of the efforts of President Tinubu to ensure that all housing agencies that are tasked with housing Nigerians work together as partners.
The minister said under President Tinibu’s “renewed hope agenda” for housing, the government expects all federal housing agencies to work with the clear understanding that at the core of what they do is housing Nigerians.
He added that even though each institution might go by different names, the end result of their operations, “is enabling access to decent and quality housing for all Nigerians across all income segments.
“You all represent different categories of needs and target markets.
“For the social housing segment, we have the Family Homes Fund Limited; for the affordable housing category.
“We have the Federal Mortgage Bank of Nigeria (FMBN), and for the mid to high end of the market, we have the Federal Housing Authority (FHA).
“The Nigeria Mortgage Refinance Company (NMRC), on the other hand, has a wider role to play in developing the housing market and building a robust housing finance market through its mortgage refinancing that are designed to boost liquidity in the housing market.
“This includes housing reform initiatives such as the model mortgage foreclosure law, uniform underwriting standards, housing market management system, and its data initiatives.
Dangiwa noted that the country did not have shortage of institutions but decried how little they had gone to address the housing problems in the country.
“This is more so when we consider the state of the housing market, the systemic challenges we still confront, the estimated size of the housing deficit, the prevalence of slum dwellings, the cost of land acquisition, interest on mortgage loans, among several other challenges and how little progress we have made in addressing them.
“We are determined to change this embarrassing narrative.
“We no longer have the luxury of time to think about our mandates the way we have always done.
“With each passing month, each passing year, we are losing time while the problem is compounding.
“Our population is rapidly increasing, and the housing need and demand are rising.”
He tasked them to act with urgency while taking cognisance of the magnitude of the housing challenge in the country.
The minister noted that there were limitations such as systemic or macro-environment related, the rising inflation rate, the Land Use Act, Institutional Establishment Acts of the FHA and the FMBN, the obsolete provisions in the NHF Act, lack of government capital interventions, and other gaps in the housing value chain.”
He, however, said he believed that there still existed areas that could be leveraged on in spite of these challenges to make a greater impact.
“As the drivers of His Excellency’s vision at the ministry, we are establishing a solid and comprehensive framework for the reform of the housing and urban sector in the country.
“Our action plan includes: strengthening the Institutional capacity of federal housing agencies, including the Federal Mortgage Bank of Nigeria (FMBN) and Federal Housing Authority (FHA), increasing the supply of decent and affordable housing stock, and the establishing a National Social Housing Fund (NSHF).
“We will implement land reforms to streamline land administration and ensure easy access to land for Nigerians and private sector players.
“We will set up Building Materials Manufacturing Hubs, implement urban renewal and slum upgrading programmes, and develop new cities that are integrated and inclusive, using a demand driven approach.”
Dangiwa stressed that all of these action plans would require the collaboration and participation of all agencies to successfully transform the housing sector.
“Going forward, you must forge stronger partnerships, leverage your strengths, and work together with a singular focus so that we can deliver decent, quality, and affordable housing to Nigerians.
“I look forward to having each of you rise up to the moment and unlock the potentials of your respective agencies to deliver on Mr. President’s renewed hope agenda for housing.” (NAN)(www.nannews.ng)
Source: News Agency of Nigeria