The Federal Housing Authority (FHA) said it has concluded arrangements to kick-start a housing market revolution as it received approval from 23 state governments to embark on the construction of houses in the country.
The Managing Director, Oyetunde Ojo, revealed this when he led a new management team to the Chief Executive Officer, Federal Mortgage Bank of Nigeria (FMBN), Mr Shehu Osidi office in Abuja.
Ojo said: “Now, we have land and Nigerians will witness a housing revolution as most states have given 50 to 100 hectares of land free of charge, which is meant for off-takers under the Renewed Hope Agenda.”
He maintained that over the years, the agency has had a good relationship with the FMBN for affordable housing delivery for all categories of off-takers. We are looking for a better Nigeria and it is only government that can provide social housing.
“Though we have been denied monetary allocation for the past 22 years, we have massive land but there were no funds to develop houses. We’re digitalising our programmes to build housing units for people seamlessly.”
He, therefore, solicited cooperation with the mortgage institutions, especially in the area of off-takers, adding that various governors are ready to key into the Federal Government’s housing schemes.
Osidi, thanked the FHA management team for their initiative and visit, saying, the minister had given a marching order on delivering houses for the people.
He stated that both organisations had a long history in the built industry, pointing out that FHA has massive land, while they equally can provide affordable mortgages of single digit interest rates.
He emphasised their willingness to complete all ongoing and abandoned estates nationwide to achieve their mandate of boosting the construction industry and offering all categories of housing units in the country.
MEANWHILE, FMBN has also promised to provide Nigerian workers, and low- and medium-income earners affordable mortgages to drive homeownership in the country.
Osidi, who stated this when he received the President, Association of National Accountants of Nigeria (ANAN) in Abuja, said, their overall focus is to deepen the housing finance market.
Osidi explained the bank will improve its contribution to the Gross Domestic Product (GDP) and enhance homeownership among citizens for wealth creation and economic prosperity, as well as reduce the housing deficit.
Earlier, ANAN Chief Executive Officer, Dr Kayode Fashola, assured the FMBN management team that the organisation will continue to support the bank to fulfil its mandate in the housing industry.
