Follow Us:
Federal Ministry of
Housing & Urban Development (FMHUD)
Federal Republic of Nigeria
Welcome To Federal Ministry Of Housing And Urban Development.
Minister Federal Ministry Of Housing And Urban Development Arc. Ahmed Musa Dangiwa.
Housing And Urban Development.
Inspection Tour Of Houses For The National Housing Scheme.
Housing And Urban Development.
Housing And Urban Development.
Housing And Urban Development.
Housing And Urban Development.
Nov
29
2024

LATEST PRESS


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.


 

Feb
19
2020

First Of FG’s Cooperative Housing Initiative For Informal Sector Takes Off In FCT * As Fashola Commissions AKACARE Cooperatives Woodhill Estate In Kuje, says choice of Cooperative Associations is based on their proven successes in other areas of the economy * Current partnerships with some cooperatives in the formal sector has 52 projects to deliver 4,624 units in 2020 * We hope to reach large members of the informal sector and scale up construction with multiplier effects on economy Minister * FMBN assigned to partner with the cooperatives in implementation of policy The first of Federal Government’s planned cooperative housing initiative to reach the informal sector in the country came on stream Monday as the Minister of Works and Housing, Mr. Babatunde Fashola SAN, commissioned the AKACARE Cooperative Housing Scheme, the Woodhill Estate, at Kuje, in the Federal Capital Territory (FCT) Abuja. President Muhammadu Buhari had, in his address at the Ministerial Retreat held in September 2019, declared that one of his administration’s NEXT LEVEL commitments was “to deepen access of Nigerians to affordable housing and consumer credit”. In his keynote address at the event, Fashola said the Federal Government’s choice of Cooperative Associations as means to reach the informal sector in its housing development was based on their traditionally proven successes in the areas like transportation, agriculture, trade and commerce, market associations and other large groups in the informal sector. At the event which also had in attendance the representative of the Head of Service of the Federation and the Minister of the Federal Capital Territory, among other top Government functionaries and dignitaries from both public and private sectors, Fashola said by using cooperatives as anchor, the Federal Government hoped to reach the large members of the informal sector and scale up construction of houses with its multiplier effects on the economy. According to him such multiplier effects on the nation’s economy would include the boosting of cottage industries which make building materials like paints, doors, roofing materials, nails and electrical fittings, to mention a few, adding that the scale of construction by the associations would also ramp up employment and income for artisans who would build the houses. Fashola said the Ministry of Works and Housing, as the Policy making arm of the Government, had assigned the responsibility of implementing the policy to the Federal Mortgage Bank of Nigeria (FMBN), a parastatal of the Ministry, to partner with the cooperatives, adding that the FMBN had also recorded modest successes in its partnerships with some cooperatives. Noting that such boost in employment and economy of the most vulnerable would represent Ministry of Works and Housing’s contribution to President Buhari’s commitment to raise a 100 million Nigerians out of poverty in a decade, Fashola recalled the testimonies of artisans during his recent inspection tour of South-South road and housing projects where masons testified to earning as much as N126,000 and labourers N84,000 per month while food vendors made as much as N140,000 profit per month. The Minister, who defined Cooperatives as “an autonomous association of persons united VOLUNTARILY to meet their common economic, social and cultural needs and aspirations through a jointly-owned enterprise”, pointed out that the word voluntary was critical in the formulation of Government’s policy of partnership with the cooperatives ”as a means of overcoming the problem of Acceptability and affordability” that has stood in the way of access to housing. He said the importance of this stemmed from Government’s past experiences, investigations and observations which had revealed the existence of hundreds of thousands of unoccupied houses in major cities across the country adding, “They are empty and unoccupied because they are either over-built, in being too big, or under-built in being too small and, therefore, unacceptable to those who need them”. The reason for the unacceptability, Fashola further stated, was “because in many instances no consultations took place between the builders and the consumers they build for”, adding that because of the lack of consultation and the attendant acceptability problem, the problem of affordability also creeps in. “This is why we are undertaking a pilot scheme based on our studies to build in 34 states who provided land, what the people we consulted said they will find acceptable”, the Minister said adding, “Our policy development team finds the voluntary nature of cooperatives very useful because members will be expected to design and build according to their needs and their income, as they find affordable”. Expressing confidence in FMBN for successful implementation of the policy, Fashola said, “As in other sectors, when cooperatives have been successful, we can point to modest successes of partnerships with FMBN with some cooperatives in the formal sector that currently has 52 housing projects under construction to deliver 4,624 units in 2020”. He said in flagging off the policy through the commissioning of Woodhill Estate of AKACARE Cooperative Housing Scheme, Government “seeks to multiply the above number in many fold by unleashing the power of cooperatives and empower their voluntary will to act together in pursuit of the common desire to access housing and credit”. Listing the requirements for the eligibility of cooperatives to include registration, acquisition of land with title and building permit from the government of the respective states where their land is located, Fashola said the last requirement was instructive “because it seeks to eliminate incidents of unapproved buildings and slums which governments later seek to demolish”. The Minister, who recalled that all the state government agencies in charge of land were briefed at the National Council launch meeting held in Abuja on November 7th 2019, added. “The Mandate and role of the FMBN is to then provide construction funding to the cooperatives to build the houses and to provide mortgage finance to the individual members to buy the house and pay back in instalments at a rate not exceeding 10 per cent per annum”. Commending AKACARE Cooperative for embracing the NEXT LEVEL initiative of government, Fashola declared, “As every cooperative chooses what it desires and can afford, the FMBN, representing the Federal Government of Nigeria, will be your partner, providing financial support to enable you act voluntarily to choose and build what you accept and your income can afford”. Earlier in his opening remarks the Managing Director/Chief Executive of FMBN, Arc. Ahmed Musa Dangiwa, said under the first phase of the Woodhill Housing Estate which was being commissioned, FMBN delivered 77 housing units comprising of 40 units of 2-bedroom semi-detached bungalows and 37 units of 3-bedroom detached bungalows. According to the Chief Executive, the basic infrastructure already built to fully service the Estate include an internal road network, electricity and water works to create a conducive and liveable environment adding that five of the completed units were already occupied by subscribing members of AKACARE Multipurpose Cooperative Society who were also present at the occasion. The second phase of the project, he said, has already commenced and is expected to deliver an additional 77 units to make a total of 154 houses in all adding that to improve accessibility to the Estate, FMBN was providing an additional loan to complete the 2.1 kilometre access road from the major junction as its socio-economic contribution to open up that area of Kuje for other real estate developments. Expressing appreciation to the Minister for driving the vision and the passion for the model of affordable housing delivery through cooperative societies, the FMBN boss added that already, at about 17 jobs per unit, the project has created 1,309 direct jobs to the local environment adding that the Bank would continue to strive to keep positively impacting the Nigerian economy through its business. Also present at the event were the Chairman, Board of Directors of FMBN, Dr. Adewale Adeeyo, Managing Director/Chief Executive of FMBN, Architect Ahmed Musa Dangiwa, Managing Director, Perfect Estate Developers Limited, Architect Dayo Babatunde among others. ...

Jan
18
2020

Minister Urges Stakeholders To Find Innovative Ways To Re-Position The Housing Sector The Minister of State for Works and Housing, Engineer Abubakar D. Aliyu , FNSE, has urged stakeholders to find more innovative ways of re-positioning the housing and urban development sector  for the overall benefit of the Nigerian citizens. He made the remark  while delivering his keynote address at the one- day sensitization forum on Lands, Housing and Urban Development Multilateral Programmes of Collaboration with the theme “Achieving National Housing and Urban Development Goals: Opportunities for Partnership and Collaboration’ in Abuja. Engr. Aliyu said that the rapid urbanisation  all over the world with its attendant severe social, cultural, economic and environmental impacts  has made it  mandatory to scale up actions as well as leverage on technical expertise and support from development partners to address the process. According to him, the Federal Government has accomplishedthrough support from Development Partners, the implementation of Nigerian States Urban Development Project (NSUP) as far back as1977 in Bauchi and Lagos; followed by the Imo Urban Development Project (IUDP). Both focused on developing sites and services programme for low income residential development. Other accomplishments he mentioned were the Infrastructure Development Fund Programme (IDF) implemented in 1985-2001to address long term financing for urban infrastructure in 11states of the Federation – Adamawa, Anambra, Benue, Borno, Ondo, Enugu, Yobe, Kogi, Plateau, Taraba and Ondo. Aliyu added that that programme later ledto the Community Based Urban Development Project (CBUP) launched in 2003 to 2011 with the provision of funds to support the urban basic services provision and infrastructure upgrading projects in 8 states:AkwaIbom, Bauchi, Ebonyi, Edo, Jigawa, Nasarawa, Ogun and Ondo. In other partnership efforts, the UN-Habitat, UN Environment Programme (UNEP) and Shelter Afrique have further impacted positively on the county’s housing sector, the minister said. The minister urged all stakeholders and intending stakeholders attending the 10th World Urban Forum (WUF10) to harness the diverse opportunities it presents in order to attract new technologies and innovations, capacity building and funding supports to effectively address our urban challenges especially in the implementation of the New Urban Agenda and the Urban SDGs. Speaking earlier in his welcome address, the Permanent Secretary, Mohammed Bukar disclosed that the Interactive Session was convened to furnish stakeholders with insights on how to advance housing and human settlements development through the operations, mechanisms, tools and opportunities for collaboration with Multilateral Partners. Mr.Bukar said the interactive forum would ensure a coordinated, effective and harmonised participation of delegates to the Tenth Session of the World Urban Forum (WUF10) scheduled to hold in Abu Dhabi, United Arab Emirates (UAE) from 8th to 13th February, 2020 and produce ways of repositioning the housing and urban development sector for the benefit of every citizen of Nigeria. Andrew Chimphonda, Managing Director, Shelter Afrique, in his presentation, “Housing Development and Financing Options noted that Nigeria has an annual housing deficit of 22million. When this figure was queried by the Permanent Secretary, he promised to validate the figure and get back to the Ministry. Also, Ishaku Maitumbi, Human Settlement Advisor, a representative from United Nations Settlements Programme (UN-HABITA), in his  a presentation titled “ Partnership and Technical Cooperation for Sustainable Urbanisation,” identified collaboration and partnership as key elements to achieving sustainable housing development in Nigeria. Stakeholders in the built industry from the federal, State governments, the private sector, higher institutions, development partners and the media attended the one-day sensitization forum. ...

Jan
16
2020

Nigeria And Turkey Need More Collaboration-Minister The Minister of State for Works and Housing, Engineer Abubakar D. Aliyu has emphasized the need for more collaboration between Nigeria and Turkey in order to achieve greater success in the development of both countries especially as they share common development goals. Engineer Aliyu made this emphasis when he received on behalf of the Minister of Works and Housing, Babatunde Raji Fashola, the Turkish Minister of Trade, Her Excellency Rushar Peckan who paid a courtesy call on the Federal Ministry of Works and Housing. Engineer Ali said, “In order to achieve success in our development since Nigeria and Turkey have common development goals, there is need to share knowledge in technological investment and collaborate in engineering design and construction for the purpose of providing infrastructure for development”. The Minister expressed the willingness of the Ministry of Works and Housing to collaborate with investors in the road infrastructure sector. He added that his Ministry was ready to partner with Turkey in the following areas: The development of various Greenfield and Brownfield projects across the nation,  mass development of affordable housing in selected city centres across Nigeria, capacity development and mentoring for Public-Private partnership officials. Earlier, the Minister of Trade for the Republic of Turkey, Her Excellency, Rushar Pekan disclosed that the purpose of the visit was to seek increased collaboration with the Ministry of Works and Housing with the view to increase Turkey’s trade volume in Nigeria in road construction and engineering. Pekan who described Nigeria as one of the most important countries and the biggest economy in Africa noted that Nigeria had great potential in road construction and engineeringadding that her country was blessed with experts in that field. She therefore urged the ministry to consider Turkish investors in those areas. She was accompanied on the visit by the Turkish Ambassador to Nigeria, His Excellency Melih Ulueren and some Turkish investors. ...

First First

PUBLIC ANNOUNCEMENT


Nov
05
2024

 


Click To View: RENEWED HOPE HOUSING PORTAL

PHOTO NEWS


Nov
29
2024

HOUSE OF REPS. COMMITTEE INTERACTIVE SESSION ON MREIF AND FMBN SINGLE OBLIGOR LIMIT

Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa

Click To View More Pictures


PHOTO NEWS


Nov
29
2024

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

Click To View More Pictures



Other Agencies