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.
"Think Outside the Box for Solutions to Housing Problems" - Dangiwa Charges Heads of Housing and Urban Development The Minister for Housing and Urban Development, Arc. Ahmed Musa Dangiwa, has directed the Heads of Departments within the Ministry to think outside the box and come up with innovative measures and ideas that will help the Ministry achieve its mandate of providing affordable housing, increasing access to land, and ensuring the sustainable development of urban and rural areas and communities nationwide. Arc. Dangiwa issued this directive on the first day of receiving Detailed Briefings from the Principal Officers of the Ministry. This is part of a broad range of reform actions that he plans to take to ensure that the Ministry is properly re-aligned along the path of enhanced efficiency to enable perform its functions optimally towards delivering greater impact as stated in its mandate. This includes ensuring that the Ministry, which is mostly staffed by professional Architects and Town Planners, take the lead in researching and developing housing designs that are, in reality, actually affordable, acceptable, and accessible to Nigerians, particularly low and medium-income earners, who constitute over 80% of the Nigerian population. He emphasized that all professionals within the Ministry must take their roles seriously and contribute their quota towards achieving this objective. “As a Ministry staffed mostly with professional Architects, we must use our knowledge and expertise to produce innovative housing designs that are affordable and livable. We must prioritize the 80% of Nigerians that are within the low to medium income segment. They too are Nigerians and deserve to live in decent, safe, and quality homes” he stated. To achieve this, the Minister immediately set up a Committee on Affordable Housing Design and tasked its members to develop a minimum of three different housing concepts that an average Nigerian can afford. He directed that the conceptual designs should be organic. This means a family can start with a one bedroom and as their incomes increase expand that same house to a two bedroom or three bedrooms over time on the same parcel of land by attaching one or two walls as the case may be. Arc. Dangiwa further clarified that an affordable house that is reasonable priced and within the financial means of individuals and families with lower incomes. He said that such a house should not cost more than 30% of a household's income. This includes rent or mortgage payments, as well as utilities and maintenance costs. This puts the preferred cost of a house that an average Nigerian can afford at within the range of N4 to N7million. The Honorable Minister also assigned the Urban and Regional Planning Directorate the task of collaborating with the National Assembly to formulate an actionable framework for initiating the review of the Land Use Act of 1978 as it is crucial for facilitating affordable housing delivery. The Minister noted that the Land Use Act contains outdated provisions and no longer fully serves its original purpose due to the passage of time. All directives have been provided with specific timelines to ensure effective and efficient implementation. ...
President Buhari Commissions National Housing Project in Gusau, Zamfara State President Muhammadu Buhari has commissioned a 80 housing units in Damba, Gusau, Zamfara state, Monday, May 22nd, 2023. The President was represented at the occassion by the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sa'adia Umar Faruk. He described the completion of the project as an example of the fulfilment of change which his administration promised the people of Nigeria. Buhari also explained that the desire to improve the human condition of the citizens was responsible for the decision to award the housing contracts to the Micro, Small and Medium size businesses, in order to promote a value chain of opportunities for economic activities, provide employment and improve the conditions of the ordinary citizen. Accordingly, the President stated that through the housing programme his administration has redeemed the promise made by previous administration to the members of the 1994 Super Eagles that won the African Cup of Nations that year. The Governor of Zamfara State, Dr Bello Matawalle who was represented by the Speaker, Zamfara State House of Assembly, Honourable Nasiru Muazu Magarya, expressed gratitude to President Buhari for initiating and executing the housing project in Zamfara state. In his address, the Minister of Works and Housing Babatunde Raji Fashola, represented by the Director Construction, Department of Public Building and Housing Development, Architect Bashir Usman disclosed that the Federal Government through the Federal Ministry of Works and Housing had delivered similar projects in 35 states of the Federation with the support of state governors. The Minister said that 40 housing units comprising; 2 units of 1 bedroom; 24 units of 2 bedrooms and 14 units of 3 bedroom bungalows were being handed over today, pointing out that the houses were designed after a survey was conducted to ascertain the needs and type of houses Nigerians desired. Accordingly, he explained that the survey revealed that there was a prevalent need for bungalows in the Northern part and flats in the southern part of Nigeria. In his welcome address, the Director overseeing the office of the Permanent Secretary, Engr. Folorunso Esan who was represented by the Zonal Director of North West, National Housing Programme, (NHP) Builder Emmanuel Hangerior said the NHP initiative since 1996 has engaged over 1,500 building contractors and over 150,00 and 55,000 direct and indirect jobs had been created respectively. In a goodwill message His Royal Highness, Alhaji Ibrahim Mohammed Bello OFR, the Emir of Gusau , thanked President Buhari for bringing the project to his domain ...
History As President Buhari Commissions Seven Legacy Projects on Tuesday Following through on his administration’s determination to upgrade and expand the nation’s stock of infrastructure, President Muhammadu Buhari will (tomorrow) Tuesday, commission seven legacy projects completed by the Federal Ministry of Works and Housing across the country. Comprising three major Bridges, three Federal Secretariats and a Road, the historic event will be headlined by the Second Niger Bridge which was conceptualized in 2005. In 2014, there was an attempt to begin the project through Public Private Partnership (PPP) but this was not successful. The construction began in 2016 with the Presidential Infrastructure Development Fund (PIDF). Others are the Loko-Oweto Bridge across River Benue to link Benue to Nasarawa State and the Ikom Bridge in Cross River State while the Road project is the completed Section of the over 200 kilometres of Kano-Kaduna Dual Carriage Expressway and three new Federal Secretariats. The first of the Federal Secretariats at Awka is located at Executive Business District Layout, Awka South Local Government Area, Anambra State and is situated on a 5.106 Hectares of land. The project was first awarded on 9th December, 2011 but was practically completed and taken over by the Ministry of Works and Housing on 14th July, 2022. The Secretariat has a total of 498 Office Space, a Conference Hall, four Committee Rooms, an Exhibition Hall, a Banking Hall, a Post Office and befitting Reception. In addition, the Secretariat has lift facilities, well laid out parking spaces and drainages, staff canteen, fire hydrant and other vital facilities. The second, Federal Secretariat Gusau, Zamfara State is located at Unguwan Dan Lawan, off Sokoto By-Pass Road, Gusau, Zamfara State. The project is situated on a 7.5 Hectares of land and was awarded also on 9th but was practically completed and taken over by the Ministry on 30th November, 2022. The third to be commissioned is the Federal Secretariat Yenagoa, which is located at Alamieyeseigha Road, in Bayelsa State. It is situated on a 7.5 Hectares of land and was awarded on 9th December, 2011 but was practically completed and taken over by the Ministry on 30th November, 2022. It would be recalled that President Buhari commissioned a fourth one, the Federal Secretariat Lafia, located at Bukar Sidi along Jos Road, Lafia, Nasarawa State in February this year. All nation's media stations are implored to stay tuned for the historic commissioning. ...
HOUSE OF REPS. COMMITTEE INTERACTIVE SESSION ON MREIF AND FMBN SINGLE OBLIGOR LIMIT
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa
OCCASSION OF THE 2024 PEWAN ANNUAL LECTURE AND CONFEREMENT OF AWARD OF RECOGNITION AS CONSISTENT CHAMPION OF ACCESSIBLE MORTGAGE AND AFFORDABLE HOUSING ON HON MINISTER ARC. AHMED MUSA DANGIWA, REPRESENTED BY THE DIRECTOR PRESS AND PUBLIC RELATIONS, SALISU BADAMASI HAIBA, AT LAGOS CHAMBER OF COMMERCE AND INDUSTRY
Occassion of the 2024 PEWAN Annual Lecture and conferement of Award of Recognition as Consistent Champion of Accessible Mortgage and Affordable Housing on Hon Minister Arc. Ahmed Musa Dangiwa, represented by the Director Press and Public Relations, Salisu Badamasi Haiba, at Lagos Chamber of Commerce and Industry