Minister tasks FMBN, FHA on innovations, performance

The Federal Government has called on the leadership of the Federal Mortgage Bank of Nigeria (FMBN) and Federal Housing Authority (FHA) to be more innovative in providing homes to the masses.

Minister of Housing and Urban Development, Ahmed Dangiwa, who made the call during the review meeting with the management teams of the agencies in Abuja, said it was aimed at enhancing performance in the execution of the ministry’s agenda as it relates to its deliveries in line with the contract agreement.

He stated that the two agencies could help deliver millions of housing units in the next 50 years as against the 50,000 it has provided over the past 50 years, stressing, “Come up with innovative ideas, and explore avenues to source funds to enhance performances.

The minister, therefore, warned that lack of funds would not be an excuse for FHA not to meet up on its ministerial deliverables, advising that they visit FMBN and leverage inter-agency collaboration for construction loans.

“Similarly, agencies should go to the capital market, issue bonds and raise funds to deliver mass housing projects nationwide, as well as market the houses, thereafter repay the loans and also declare profit. This requires a new mindset, thinking outside the box,” he added.

The FMBN must lead a new era of massive housing development and delivery, notwithstanding the challenging times of high construction costs and lower incomes. We will not tolerate abandoned and uncompleted projects, while seeking approval for the new ones.

FHA Managing Director, Mr Oyetunde Ojo, noted that the ongoing direct construction of 336 housing units and office at the Bwari Area Council of the FCT, as well as 820 housing projects, was under a Private Public Partnership (PPP).

Ojo also stated that direct construction of 1,000 houses at the Apo/Guzape area of the FCT, would be ready to commission by December, saying they have deployed and operated an Enterprise Content Management System (ECM), with 350 staff licensed to access it.

On his part, FMBN Managing Director, Shehu Osidi, enumerated some of the targets and deliverables of the bank, saying that the bank had delivered 1,551 housing units .

Osidi further stated other deliverables include 3,674 persons benefiting from the mortgage loans, the establishment of a National Mortgage Registry and the commencement of the digitalisation of the bank’s products.