Housing Ministry Assures Diaspora Union of Participation in Nigeria's Housing Market Ecosystem  ..... commends Union’s interest in investing in housing development in the country  Minister of Housing and Urban Development,  Arc Ahmed Musa Dangiwa has assured African Descendants in Diaspora Union (AFRIDU) of an enabling environment for diaspora participation in Nigeria’s housing market ecosystem by having in place the right frameworks for secured homeownership for Nigerians in Diaspora. Dangiwa also expressed the commitment of the Ministry to work with the Union in order to achieve a shared vision of a prosperous and united Africa that would in turn create a better future for all citizens, both at home and abroad.  The Minister stated this when a delegation from AFRIDU led by the Union’s Diplomatic Administrator for Nigeria, Dr. Abraham Onwubuya, paid him a courtesy visit to his office in Abuja. African Descendants in Diaspora Union (AFRIDU), is a platform created to foster unity, solidarity, and empowerment among the African descent in the Diaspora. Dangiwa also acknowledged the importance of the diaspora to the government, adding that the over 20million Nigerians in Diaspora remitting an average of over $24bn per annum is a massive capacity, crucial to catalyzing development in all sectors of the Nation’s economy.  On the participation in housing market, he said “We are doing this in collaboration with the Nigerians in Diaspora Commission (NIDCOM) and the two federal housing agencies that are under the supervision of our Ministry which includes the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA)” He also recalled the launch of the Diaspora Mortgage Loan at the 6th Edition of the Nigeria Diaspora Investment Summit in Sept 2023, a loan designed to enable Nigerians living overseas participate in the National Housing Fund (NHF) Scheme in order to access up to N50 million to own their homes in Nigeria. Accordingly he explained that Participants could access the loan via a National Housing Fund (NHF) loan, Rent-to-Own or the Individual Construction loan window, with affordable terms at best market rates which includes a single-digit interest rate of 9%, and a payback period of up to 10 years. While stating that the Federal Mortgage Bank of Nigeria (FMBN) as part of the initiative would facilitate the construction of affordable housing units in major cities that meets the specifications of Nigerians in Diaspora, Arc. Dangiwa notified the Union that the Federal Housing Authority (FHA) is also involved as part of the Ministry’s sector wide effort to cater to the Diaspora.  In his words, “They have undertaken to develop the Diaspora City Project under a Public Private Partnership comprising the FHA, The Nigerians in Diaspora Commission (NIDCOM) the Federal Capital Territory (FCT) and the private sector”. He disclosed that The Diaspora City project  is situated at Maitama 2 FCT, with over 675 hectares of land, designed to have bungalows, semi-and detached duplexes, and mansions to reflect its inclusive essence; “The FCT administration has committed to opening the road and providing the relevant infrastructure”, he further disclosed. According to the Minister, Our overall goal is to ensure that as our brothers and sisters’ sojourn abroad, they also have a decent shelter over here in Nigeria to call their home” The Minister expressed excitement about the upcoming International Global Investment Summit to be held in Abuja in October, noting that the event presents a unique opportunity to showcase the potential of the Country and attract foreign direct investment in various sectors, including housing and urban development.  On their part, the leader of the AFRIDU delegation Dr. Abraham Onwubuya on behalf of members of the Union appealed for a chance to partner with the Ministry in terms of investment in real estate, and also requested the Ministry’s assistance in providing them with lands to develop smart homes and cities across the country, for the Africans descendants in diaspora. According to him, “this will be beneficial to Nigeria as a Nation”. Dr. Onwubuya further utilized the opportunity to invite the Honourable Minister for  the International gathering of the African descendants in diaspora slated to hold between the 3rd - 7th of October 2024, and particularly the Global Economic Investment Summit on the 5th of October, 2024. ...

Housing Minister Calls for Continuous  Collaboration with Institute of Mortgage Brokers and Lenders of Nigeria. Minister of State for  Housing and Urban Development, Abdullahi Tijjani Gwarzo has called  for continuous collaboration between the ministry and the Institute of Mortgage Brokers and Lenders of Nigeria, (IMBLN), in order to ensure adherence to standard specifications in houses  construction by practitioners the in built  environment  The minister said the collaboration will creat a brighter future alongside achieving  overall economic growth in the country in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu. Tijjani Gwarzo made this call when he received the governing council of the IMBLN Institute led by it's President, Quantity Surveyor Hayatuddeen Atiku Awwal on a visit to his office. He said "As we continue to work towards our common goals of enhancing professionalism and fostering growth within the mortgage and real estate sectors, I encourage continued collaboration and dialogue between our ministry and the Institute," noting " together, we can overcome challenges, seize opportunities, and create a brighter future for our nation." Gwarzo noted "In line with our government's agenda to provide affordable housing and promote sustainable urban development, we acknowledge the importance of a robust regulatory framework and a skilled workforce. " He also described the Institute's role in setting prescribed rules and regulations that ensures adherence to best practices and ethical standards, a good measure to safeguard the interests of both consumers and professionals alike Accordingly, Gwarzo recognizes the crucial role played by the Institute in setting and reviewing standards, promoting research and development, and providing consultancy services  " Your efforts in organizing conferences, seminars, symposia, and meetings, contribute significantly to knowledge exchange and capacity building within our industries" he added. Speaking earlier, the President of the  Governing Board of the Institute of Mortgage Bankers and Lenders of Nigeria,  QS. Hayatuddeen Awwal, said the Institute has identified some challenges facing the housing sector with regard to home ownership and creation of jobs, saying collaboration with the ministry was the only way to tackle them  " wmWorking together with the ministry would unlock potentials in mortgage industry as well as drive positive changes the housing sector" he said  The President also explained  " ... through our activities, we strife to create an enabling environment for affordable housing and wealth creation for all Nigerians bearing in mind that the housing sector alone has the tendency to challenge the peculiar insecurity, job loss and death of artisans that is ravaging the country," He further expressed confidence  that  under the current leadership in the housing ministry, design and specification of houses will be standardised, pointing out that he has begun an advocacy on adopting Nigeria model in the built environment by scaling down features like using regular ceiling board instead of fixing POP and using Nigeria made doors instead of imported Turkish doors Adopting Nigeria model, he said, would enhance mortgage reforms that would ensure the acquisition of the  Renewed Hope Cities and Estates within the shortest possible time. On Mortgage facility open to informal sector of the nation, the President explained that the workers in informal  sectors of Nigeria are not exempted from accessing mortgaging facilities but they find it difficult to access it because mortgage officers are not patient enough to generate a statement of income that could qualify them for  accessibility since they  do not have a standard payslip. He further advised the mortgage bankers to exhibit patience and humility when engaging with them so as to promote inclusivity in home ownership through mortgage financing, disclosing that the Institute has begun talk with the Federal Mortgage Bank of Nigeria to liberalise to the informal sector. The Institute of Mortgage Brokers and Lenders established by an Act of the National Assembly is mandated to regulate and professionalise the mortgage industry and housing thereby promoting transparency, ethical standards and professionalism in the sector.  It is also charged with the responsibility of capacity building, training, certifying and regulating the activities of property, mortgage and real estate industry ensuring their competency.   ...

Housing Minister Charges REDAN for Commitment, Professionalism ..... Sets Agenda for the new leadership  Minister of Housing and Urban Development, Arc Ahmed Musa Dangiwa has charged the new leadership of Real Estate Developers Association of Nigeria  (REDAN) to be committed to professionalism and make a difference in the delivery of Renewed Hope Agenda of President Bola Ahmed in providing affordable housing for Nigerians Dangiwa stated that the realization of the Presidential vision can only be possible through active involvement and collaboration  of Association like REDAN The Minister gave the charge when he received the new leadership of REDAN led by it's President, Akintoye Adeoye on a visit to his office.  REDAN serves as the principal agency and umbrella body of the organized real estate sector developers involving both public and private sector in the housing dekivery in Nigeria  He explained that the association play an impactful role in shaping the future of Housing and Urban Development in Nigeria, adding that the ministry aims at transforming the landscape of housing in Nigeria by driving historic housing reforms and increases access to affordable housing for Nigerians  Accordingly,  he urged the association to ensure rigorous adherence to its code of conduct, continuous professional development for its members, and also transparent mechanism for accountability. The Minister noted that moving the housing sector forward does not only require new policies, reforms, or investments but also integrity, reliability, and ethical conduct of those who are at the forefront of bringing the visions of the sector to life; ”It is only when our developers adhere strictly to ethical business practices, quality standards, and regulatory compliances, that we can assure the populace of the safety, durability, and affordability of their homes. This commitment to professionalism must be evident in every aspect of your  operations, from the planning stages to the delivery of each housing unit” he stated  Arc. Dangiwa also advised the Association to prioritize professionalism, dialogue, innovation, transparency, and accountability in their engagements with its members and external stakeholders. The minister also admitted that a partnership with stakeholders like REDAN would help the Ministry to achieve its aim of transforming the landscape of housing in Nigeria by driving historic housing reforms and increasing access to affordable housing for all Nigerians across all income brackets under the Renewed Hope Agenda of President Tinubu. He said “By working together, we can explore innovative approaches to tackling the challenges to housing development and mobilize the much-needed resources to address the housing needs of our growing population”. Arc Dangiwa expressed confidence in the capacity of the new President, Adeoye to drive innovative change in the face of the myriad of issues presently facing the real estate sector. “I have no doubt that under your stewardship, REDAN will play a more impactful role in shaping the future of housing and urban development in Nigeria. Speaking earlier, the president REDAN, Akintoye Adeoye expressed satisfaction on what the ministry has achieved so far in the housing sector and commended the minister for being a front burner of Renewed Hope Agenda. He said that, Redan as a group would engage, collaborate and partner with the ministry to better the housing sector, and ensure regulation that will bring sanity in the sector thst can stand the test of time.  Adeoye used the occasion to invite the Minister to the REDAN Investiture ceremony scheduled to take place on 23rd May, 2024 to adopt the Renewed Hope Agenda into their program.   ...