By Mashe Umaru Gwamna
Minister of Housing and Urban Development Ahmed Dangiwa has charged the leadership of the Federal Mortgage Bank of Nigeria (FMBN) and Federal Housing Authority (FHA) to be more creative and innovative in order to achieve their ministerial mandate
A statement signed and issued by Director Information and Public Relations, Badamasi Salisu Haiba.
Dangiwa gave the charge during the formal performance review meeting with the Management Teams of the agencies; the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), recently.
The performance review meeting was aimed at enhancing performance in achieving the mandate of the ministry as it relates its ministerial deliveries inline with the performance contract agreement.
At the review meeting, the leadership of the FMBN and FHA presented their ministerial deliverables in line with the Performance Management System reform of the Office of the Head of the Service of the Federation and will be signing the Performance Contract with the Minister.
Minister Dangiwa recalled the charge he gave the two agencies upon their appointment by President Bola Ahmed Tinubu earlier this year to be creative, innovative as well as transformative in order to enhance their performances.
The FHA was charged to come up with innovative ideas, explore avenues to source funds that could help them deliver millions of housing units in the next 50 years as against the 50,000 it has provided over the past 50 years.
Similarly, the FHA was charged to go to the capital market, issue bonds and raise funds to deliver mass housing project nationwide, as well as market the houses, thereafter repay the loans and also declare profit.
He warned that lack of funds would not be an excuse fior FHA not to meet up on its ministerial deliverables, advising that they visit the FMBN and leverage on inter-agency collaboration for construction loan.
To the FMBN, the Minister reminded the team of his emphasis on innovation and transformation, saying that the bank must lead a new era of massive housing development and delivery, notwithstanding the challenging times of high construction costs and lower incomes; “This requires a radically new mindset, thinking outside the box, and identifying the opportunities these challenges present”, he stated
On ongoing projects handled by the FMBN, Dangiwa gave a warning that the ministry will not tolerate abandoned and uncompleted projects, while seeking for approval for the new ones.
“Better know that we will not allow you to create more projects without completing the existing ones,” he said
Dangiwa emphasised that the completion of abandoned project is key to the bank’s accomplishment, noting “ when you complete them, invite us to commission them they will add to your deliverables.”
The Minister stated his expectation for FMBN to push strongly for legislative amendments to relevant housing industry laws, including the National Housing Fund (NHF) Act, 1992, and the Federal Mortgage Bank of Nigeria (FMBN) Establishment Act, 1993.
He also urged the team to work on the long overdue digitalization of its entire product and service portfolio, pointing out that the world is in an era where Nigerians should be able to register and subscribe to the National Housing Fund (NHF) Scheme, and apply for FMBN products such as home renovation loans and individual construction loans.
While acknowledging the current inflation in the country, the minister advised the housing agencies to rescope their buildings by leaving out the non essentials fittings like tilling and PoP as it will not only save cost but make them affordable for Nigerians to buy.
