Dangiwa to Chair UN-HABITAT Executive Board Meeting in Nairobi  The Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, will chair the second 2024 session of the United Nations Human Settlements Programme (UN-HABITAT) Executive Board Meeting, scheduled to take place in Nairobi, Kenya, from December 4 to 6, 2024.   This session will address critical global urban development challenges, including housing, urban regeneration, climate resilience, and sustainable development, in line with the 2030 Agenda for Sustainable Development.   During the meeting, the Executive Board will, among other responsibilities, consider and potentially approve the draft work programme of UN-HABITAT and the draft budget for the United Nations Habitat and Human Settlements Foundation for 2025. The Board will also review reports on UN-HABITAT’s activities for 2020–2025, receive updates on the development of the Strategic Plan for 2026–2029, and assess the implementation of the organization’s normative and operational activities. This includes reporting on its 2024 programmatic initiatives, subprogrammes, flagship projects, technical cooperation efforts, and its engagement in countries, territories, and areas affected by conflicts and disasters.   Nigeria’s leadership role as Chair of the UN-HABITAT Executive Board underscores the country’s commitment to advancing global sustainable urban development. It elevates Nigeria’s visibility and influence on the global stage, positioning the nation as a pivotal player in shaping the urban development discourse.   Arc. Dangiwa’s chairmanship will amplify Nigeria’s voice in crafting policies and initiatives for sustainable global urbanization. It also reaffirms Nigeria’s dedication to addressing urban challenges, including housing deficits, slum development, and climate resilience.   The meeting presents a significant opportunity for Nigeria to foster partnerships with international organizations, donors, and development agencies. It provides a platform to showcase Nigeria’s achievements and best practices in housing and urban development while cementing its position as a leader in Africa’s urban agenda.   Moreover, the session aims to promote and adopt innovative, inclusive solutions for urban planning, housing, and sustainability across Africa and beyond.   Under the leadership of Arc. Dangiwa, who also chairs the African Ministers of Housing Caucus, Nigeria is well-positioned to attract international funding and technical assistance for urban development projects, including real estate and infrastructure.   The meeting is expected to enhance Nigeria’s capacity for knowledge exchange, strengthen regional alliances, and improve institutional frameworks by exposing participants to global best practices.   Key focus areas for Nigeria include advocating for international support to address the nation’s housing deficit and promoting affordable housing solutions. Nigeria will also champion sustainable cities and climate adaptation on the global stage.   A major anticipated outcome of the meeting is the strengthening of global partnerships to drive sustainable urban growth in Nigeria. This is expected to attract increased investments and resources to tackle urban challenges, fostering a more sustainable and inclusive future.   ...

Minister Ata Commends Progress on Renewed Hope City Minister of State for Housing and Urban Development, Rt. Hon. Yusuf Abdullahi Ata, has expressed his satisfaction with the progress of ongoing projects at the "Renewed Hope City" in Lambu, Tofa local government, Kano State. During his visit to the site on Friday, Minister Ata was impressed with the noticeable improvement in the project's pace compared to his previous visit with Hon. Minister Ahmed Musa Dangiwa a couple of weeks ago. The state Minister, who toured the project site with his entourage, led by the project's contractors, commended them for their hard work and dedication, urging them to redouble their efforts to complete the project on time. He emphasized the importance of timely completion, stressing that it would have a significant impact on the lives of the people in the community. Minister Ata noted that if the contractors maintain their current tempo, the project will be completed within the stipulated timeframe. Minister Yusuf Abdullahi Ata also commended the efforts of the project team and encouraged them to sustain their momentum.  During his assessment of the nearby Tabarakallah "Renewed Hope Housing Estate," Minister Ata observed that the roads had been bulldozed recently, indicating that the project was ongoing, although not at the desired speed. However, he noted that apart from the Detailed Project Concept (DPC), the project's pace had not improved significantly since his previous visit with Hon. Minister Ahmed Musa Dangiwa. As a seasoned politician and urban planner, Minister Ata brings a wealth of experience to his role. His background in economics and development studies has equipped him with a deep understanding of the complex issues surrounding housing and urban development. With his extensive experience in legislative matters and community planning, Minister Ata is well-positioned to drive positive change in Nigeria's housing sector, particularly "The Renewed Hope Housing Projects."   ...

Dangiwa Advocates Cross-Subsidy Inclusion in MOFI Real Estate Investment Fund Framework   * Epresess Ministry’s support for MREIF   Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has urged the management of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) to integrate cross-subsidy mechanisms into its framework for housing sector operations.   The Minister made the call in Abuja during an interactive session organized by the House of Representatives Committee on Housing and Habitat with a focused on the Federal Government's establishment of MREIF and the suspension of the Single Obligor Limit imposed by the Central Bank of Nigeria (CBN) on the Federal Mortgage Bank of Nigeria (FMBN).   Arc Dangiwa emphasized that such an approach would enable the construction of cost-effective housing, making homeownership more accessible to low-income Nigerians.   Citing Algeria’s success where the government delivered one million homes in a year through cross-subsidy mechanisms, Arc Dangiwa proposed allocating 20–30% of funding for housing estates in Nigeria toward cross-subsidization.   He explained that this approach would ensure uniform infrastructure and external features while adjusting internal finishes to suit varying affordability levels, thereby enhancing homeownership opportunities for low-income Nigerians.   “Whenever we are funding any estate to be developed, 20 to 30 percent of the funding should be cross-subsidized,” the Minister emphasized.   Dangiwa commended the Honourable Minister of Finance, Mr. Wale Edun, for securing Federal Executive Council approval for MREIF, and described it as a transformative initiative poised to revolutionize the housing sector and call for innovative funding strategies beyond traditional budgetary allocations.   Dangiwa while addressing the restrictive impact of the Single Obligor Limit imposed by the CBN on FMBN, praised the House Committee on Housing and Habitat for intervening to halt the practice, noting that the cap on disbursements of 50 percent shareholders’ fund has limited the bank’s ability to fund primary mortgage institutions (PMIs), thereby hindering mortgage accessibility for Nigerians.    Dangiwa also advocated for the recapitalization of FMBN, to enable it create affordable mortgages without relying on MREIF funding while more support for FHA  would enhance their capacity to strengthen housing development in the country.   The Minister reiterated the importance of innovative financing, institutional collaboration, and affordability as critical to addressing Nigeria’s housing deficit and expressed confidence in achieving sustainable growth in the housing sector under the Renewed Hope Agenda.   In his welcome remarks, the Chairman of the House Committee on Housing and Habitat, Hon. Abdulmumini Jibrin, noted the importance of engaging key stakeholders in shaping the framework for MREIF.   He confirmed the committee’s position on halting the Single Obligor Limit and emphasized ongoing efforts to address concerns raised by stakeholders, including the FMBN and MBAN. The Chairnan directed representatives of the CBN, FMBN, and MBAN to collaborate and propose practical solutions within a week.   Dr. Armstrong Takang, Chief Executive Director of MOFI, highlighted President Bola Ahmed Tinubu’s directive to prioritize liquidity in the housing sector and stressed the need for accessible and affordable mortgages with longer repayment terms to address affordability challenges and reduce the prevalence of abandoned houses.    Dr. Takang also outlined MREIF’s dual strategy of supporting developers with off-take guarantees and facilitating low-cost mortgages for buyers.   Representatives from the CBN, FHA, MBAN, and REDAN expressed support for the establishment of MREIF, emphasizing the importance of a well-structured and approved framework. Suggestions included leveraging funds from unclaimed dividends, dormant accounts, and PENCOM funds to enhance the fund’s liquidity. The CBN requested a detailed conceptual framework to conduct a thorough review before making an informed decision.   ...