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.
