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.
FG Hands Over Keys To More 1994 Super Eagles Players The Federal Government has handed over keys to more members of the 1994 Super Eagles team such as Mutiu Adepoju, Ike Shorumu, Finidi George, Akin Amao a doctor in the team in fulfillment of the promise that was made to the team 28 years ago by the Federal Government. Adewale Adesokan a beneficiary of the National Housing Project of the Federal Government also received his key. Works and Housing Minister who handed over the keys at the project site in Onidundu in Akinyele Local Government Area of Oyo State was represented by the Federal Controller of Housing in the state, Mr. Gbolahan Jacob Adesola. The Minister disclosed that four (4) Nigerians in the state have fully paid for their houses, he therefore, encouraged other Nigerians to seize the opportunity to become house owners by subscribing through the Ministry's portal: https://nhp.worksandhousing.gov.ng. Fashola said the portal was opened to avail members of the public equal opportunity to apply for and own their own houses without discrimination or artificial obstacles. He added that interested members of the public could apply through the Mortgage Bank as well. Fashola said that buying a house in the National Housing Project, (NHP) has an advantage over what is obtainable in the market as the payment options are really flexible. He said, " The advantage of owning a house in the National Housing Programme, NHP include well-spaced site such as one bedroom unit which is about 60 - 70 square meter, two-bedroom unit, which is 76 - 103 square meters and three-bedroom units that is 110 - 137 square meters." " These are extremely generous spaces when compared to what is available in the market." In his speech Oyo State Governor Dr. Seyi Makinde who was represented by the state Commissioner of Land Management, Segun Olayiwola expressed gratitude to the Federal government for undertaking the project. He noted that the project will no doubt ease the housing problem in the state and the country at large. The Governor stated that it was in recognition of the immense benefit that the project could bring to the people that the state government donated the land for the construction. The Permanent Secretary of the Ministry Mr. Bashir Nura Alkali who was represented by Mr. Raymond Ogunlewe said the Federal Government inaugurated the National Housing programme for the construction of affordable and acceptable houses nationwide as part of President Muhammadu Buhari's developmental agenda of addressing the Housing needs. The Permanent Secretary added that the Ministry had successfully constructed housing schemes in 35 states in the country. He also said the housing types comprise of two-bedroom, three-bedroom semi-detached bungalows and condominiums. Mr. Alkali disclosed that the houses were built in cognizance of the culture and climatic peculiarities of the regions while upholding the tenets of building, energy and efficiency code being championed by the Ministry. In response the beneficiaries expressed gratitude to God for making it possible and praised the Federal government for the execution of the project. ...
FG Commissions National Housing Programme in Kwara State. The Federal Government has commissioned Phase One of the National Housing Programme in Asa Dam, Road Ilorin in Kwara state. President Muhammadu Buhari who commissioned the housing programme was represented by the Honourable Minister of Information and Culture; Alhaji Lai Mohammed stated that the housing project was one of the projects undertaken by this Administration. President Buhari said that the completion of the project is part of the fulfillment of the promise of change to improve the human condition made by the All Progressive Congress. He disclosed that the micro, small and medium businesses that drive the economy were given the contract to build the houses and through them, the value chain of business activities witnessed a tremendous boost that impacted positively on ordinary Nigerians. The Kwara State Governor, Mallam Abdulrahman Abdulrazaq who was represented by the Kwara State Commissioner for Housing, Architect Aliyu Muhammadu expressed appreciation to President Muhammadu Buhari and the Works and Housing Minister, Babatunde Raji Fashola SAN CON, for making Kwara State one of the beneficiaries of the Federal Government Housing project. The Governor also acknowledged the positive trickling down effect of the project in terms of job creation and long value chain of building construction and the general economic benefits to the people of the state. The Governor further said, " There is therefore no doubt about the unprecedented investment of the President in critical infrastructure across every part of Nigeria such as roads, bridges, housing, railways, water, education, power, energy and health infrastructure which all progressive minds will ever remain grateful for." The Works and Housing Minister, Mr. Babatunde Raji Fashola, SAN who was represented by the Director, Public Building and Housing Development, Federal Ministry of Works and Housing, Architect Solomon Labafilo informed the people that the Federal Government through his Ministry has delivered housing projects in 35 states of the federation. He added that the completed housing project being commissioned has 76 units of houses comprising 4 units of one bedroom, 48 units of two bedroom, 20 units of three bedroom and 4 units of three-bedroom bungalows. The Minister said the design of the houses was determined by the outcome of a national survey which revealed the prevalent need for bungalows in the North and flats in the South. He assured the people that the houses are offered to members of the general public without discrimination by opening the National Housing Portal, https://nhp.worksandhousing.gov.ng to ensure that interested Nigerian citizens are not inhibited by artificial obstacles and promised that allocations would be made on the basis of those who apply and pay first. The Permanent Secretary Federal Ministry of Works and Housing, Mr. Bashir Nura Alkali represented by the Ministry’s Director of Survey and Zonal Director Housing North Central, Quantity Surveyor Pemi Temitope revealed that over 1200 building contractors have been engaged under phases 1,2 and 3 of the programme since its inception in 2016 and over 14,500 direct and 50,140 indirect jobs have been created. He added that during this period, the Ministry had undertaken the construction of over 6,000 housing units in 45 sites out of which 2,465 units have been completed in 35 states and the FCT. The Emir of Ilorin and Chairman Kwara State Council of Traditional Rulers, Dr. Sulu Gambari represented by Alhaji Kayode Sadiq, the Alaga Owode, thanked President Muhammadu Buhari and prayed God to continue to bless, guide and protect him. He also expressed appreciation to the Honourable Minister of Information and Culture, Alhaji Lai Mohammed, CON. The Community Youth Leader of Asa Dam, Mr. Dayo Atolagbe expressed the profound appreciation of the community to the Federal Government of Nigeria, the Kwara State Government and the Federal Ministry of Works and Housing for locating the project in their community. He further appreciated the government for the good roads that were provided to link the housing estate and security maintenance in the area. ...
PMB's Administration's Newly Constructed and Rehabilitated Roads... Boost to Health Care Delivery - Fashola .... Beautiful Ambiance of Environment has enhanced Treatment - CMD. OWO. FMC. H.E, Babatunde Raji Fashola, SAN, CON the Honorable Minister of Works and Housing has said that the five number internal roads both newly constructed and rehabilitated by the FG within the Federal Medical Center, Owo in Ondo State is part of government's intervention to boost health care delivery in the Health Sector of Nigeria. This, he said will go a long way in saving lives of citizens. The Minister stated this during the official Commissioning and hand over of five numbers (5) internal roads intervention at the Federal Medical Center Owo in Ondo State. The Minister, who was represented by the Ag. Federal Controller of Works in Ondo State, Engr. Olajide Hussein said that with these newly constructed and rehabilitated five internal road network within FMC, Owo, already from reports and testimonials of patients using the facility has been a great boost to timely treatment of patients, the easy and speedy movement of emergency patients within and in between wards and also different clinical sections has been greatly enhanced. Speaking further, Fashola confirmed that the gap of Nigerian's infrastructure needs is steadily being bridged by a gradual process of repairs, renewal and construction of impactful internal roads within varied institutions and Federal Medical Centers. In his words... ''We have successfully intervened in 64 internal Roads projects in various Federal Tertiary institutions and handed over a total of 46 as at March, 2022 and we are now having another 18 ready to be handed over, while we are currently attending to 19 roads in similar institutions across the Country making a total of 83. The entire FMC, Owo community made up of Doctors, Resident Doctors, Nurses, Trainee Nurses, patients and their relatives who use the facility for medical treatment have all expressed renewed enthusiasm and glaring joy with regards to receiving timely and quality attention and treatment to their wards which has both saved lives and funds since these five roads intervention by the Federal Ministry of Works and Housing came into effect. The Minister also affirmed that this intervention is consistent with the progressive ideal of President Muhammadu Buhari's Administration's commitment of improving human condition, and that this process continues here as we hand over these five internal newly constructed and rehabilitated roads within the Federal Medical Center Owo as a critical intervention to support this medical institution. Also, during the construction of these five roads, people were employed in the process, thereby contributing to the job creation initiatives of the government and it is hoped that the Management the Federal Medical Center, Owo will now ensure that this asset is used properly and not abused. Earlier, the Chief Medical Director/Chief Executive Officer, Dr. Liasu Adeagbo who was represented by Dr. Aiyeyemi Adeyinka Joseph - Head Clinical Services and Director Training was full of deep appreciation to President Muhammadu Buhari and the Minister of Works and Housing, Babatunde Raji Fashola SAN, CON. He said to this five internal road network intervention has brought a lot of joy to them as Medical Doctors and much more to the patients they treat, this has boosted their moral to provide quality health care services to patients, who in turn because of the beautiful ambiance of the environment believe that they will be healed once they enter the Facility. Dr. Joseph however appealed that this Sectoral collaboration is necessary and should continue - Bad roads he said are a great danger to genuine attempt in saving lives especially in the movement of emergency patients within different clinical sections for immediate treatment - this is due to the vast expanse of land which Owo Federal Medical Center occupies. This he also said is a great boost to the Doctors as well who find it now very easy to access wards and patient for treatment and attention. These roads have also made it easier for Trainee Nurses to move around during training sessions. Also in the same vein, the Ag. Head of Nursing Services, Mrs Mabel Atinuke Asegbeloyin said that the road network intervention has enhanced smooth transportation of both workers, patients and trainee nurses around thereby making their work easy- areas across different wards and patient are now easily accessed. Affirming the huge benefits of these roads also was Dr Opeyemi Samuel Salako, the President of the Association of Resident Doctors in the Center, he said this is a very laudable infrastructural intervention which has brought improvement to the accessibility of the knocks and crannies of the facility, especially in the swift movement of patients from emergency points to wards and theatres for immediate treatment. He honestly appreciated the President, Muhammadu Buhari and the Minister of Works and Housing Babatunde Raji Fashola, while also hoping that more of such intervention to improve health care service delivery in other Medical Centers around Nigeria should be considered. The entire Owo Medical Center community of both Doctors, Resident Doctors, Nurses, Administrative and Security officials were all glad and full of appreciation for this Federal Government gesture of road network intervention infrastructure. ...
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