Mulls FHA’s full commercialisation
Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has hinted of readiness to begin sale of the 753-unit housing estate linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
He told The Guardian at the weekend that the ministry had conducted a comprehensive technical assessment of the housing units, submitted its findings, and was awaiting necessary approvals to commence formal disposal of the estate.
The minister also explained that the ministry was implementing a broad-based Housing Institution Reform Programme, designed to reposition all housing agencies under its purview, including the Federal Housing Authority (FHA) and its pathways for financial autonomy and commercialisation, for efficiency and sustainability.
The ministry had officially taken over the estate in Abuja following its recovery by the Economic and Financial Crimes Commission (EFCC). It also assured the public of joint inspection of the property with the anti-graft agency to ascertain its condition, conduct structural tests and technical evaluation to determine the cost of completing necessary infrastructure before transparently offering the units for sale through the Renewed Hope Housing portal.
Warning Nigerians to beware of fraudulent individuals or groups posing as agents or intermediaries, Dangiwa stated that the ministry will issue an official public announcement outlining the whole process.
He said: “The ministry is currently awaiting the necessary approvals to commence formal disposal of the estate. The public is hereby informed that the sale has not yet commenced. Once all required approvals are secured, the ministry will issue an official public announcement, outlining the sales process, eligibility criteria and application guidelines.
“We strongly advise Nigerians to beware of fraudulent individuals or groups posing as agents or intermediaries, as no such persons have been appointed or authorised by the ministry.”
Speaking on the likely reasons FHA, charged with the responsibility of delivering affordable houses to Nigerians has been excluded from the national budget since 1993, and has not received any take-off grant from the government despite its commercialised status, a situation that hinders the agency’s capacity to deliver on its mandate, the minister explained that the process of ensuring its full commercialisation was ongoing.
“The ministry is currently implementing a broad-based Housing Institutions Reform Programme aimed at repositioning all housing agencies under its purview, including FHA, to function more efficiently and sustainably.
“As part of this reform drive, a dedicated Housing Institutions Reform Task Team was established to review the structure, operations and performance of the FHA and other institutions.
“The Task Team has submitted far-reaching recommendations, including pathways for financial autonomy and commercialisation. These are currently undergoing internal review and will be implemented in phases to transform FHA into a commercially viable, performance-driven agency capable of meeting the housing needs of Nigerians at scale.
“FHA is partially commercialised and this allows the institution to seek external sources of financing, including engagement in Private, Public Partnership (PPP), to deliver on its mandate,” he added.
The minister equally informed that under the Renewed Hope Housing programme, the ministry has delivered 10,112 housing units across 14 states and the Federal Capital Territory in two years.
