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FG, exchange move to tackle housing deficit

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Efforts to tackle housing shortages in the country received a boost, as FMDQ Securities Exchange (FMDQ) Plc has resolved to partner with the Federal Government to develop products that will address the nation’s hosing deficits. Chief Executive Officer of FMDQ, Bola Onadele, disclosed this at a seminar on infrastructure development in Lagos at the weekend.

Already, the securities exchange has set up a housing development project team that would work with the office of the Vice President to facilitate the processes.

FMDQ OTC Securities Exchange (FMDQ) is Nigeria’s foremost debt capital,foreign exchange and derivatives over-the-counter securities exchange, driven to transform the nation’s financial markets through global competitiveness, operational excellence, liquidity and diversity agenda.Onadele, who was represented by Associate Executive Director, Corporate Development, FMDQ, Ms. Kaodi Ugoji, said providing affordable housing was a strategic national imperative to guarantee the wellbeing and productivity of Nigerians.

According to him, if Nigeria consistently shores up its infrastructure deficit, it will ultimately lead to economic prosperity and create more wealth for the people.He said the securities exchange remained committed to tackling the housing deficit in Nigeria through mobilisation of funds from the capital market.

“We need to have the basic amenities, especially in housing development, so that there will be prosperity for everyone. We have been thinking of how to drive initiatives to create affordable houses.“We have set up housing development team that is working with the office of the Vice President to initiate a blueprint that will create mortgages and affordable houses in Nigeria,” he said.

Onadele noted that the securities exchange was ready to provide workable means of housing development in Nigeria to guarantee the wellbeing and productivity of the populace.

“No doubt, Sukuk bond has been a success, but there is the need to expand the Sukuk bond introduced by the Federal Government. We need to shore up infrastructure to achieve our goals as a country,” he said.He assured investors that the exchange’s holding company would bring efficiency in the development of infrastructure, adding: “We will continue to innovate and improve on the blueprint that would help to drive development in the capital market and the economy.”


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