Federal Government is working to increase the capitalisation of Federal Mortgage Bank of Nigeria FMBN to 500 billion naira.
Minister of Housing and Urban Development, Alhaji Ahmad Dangiwa, stated this at the inaugural Kaduna International Housing Exhibition 1.0 with the theme “Kaduna Sustainable Housing Development: A Model for Northern Housing Reforms,” held in Kaduna.
Alhaji Dangiwa explained that, recapitalizing the Bank would give it more financial power to ensure sustainable housing development.
According to him, statistics shows that, almost half of Nigeria’s population of over 201 million are poor and have week purchasing power.
“In fact, of the 43 million households, over 85 percent have less than 1.1 million purchasing power”
Alhaji Ahmad Dangiwa further revealed that the Federal Ministry of Housing and Urban Development is working to establish a National Social Housing Fund to pool funds from the government budget, philanthropic organizations, and well-meaning Nigerians.
The aim is to provide decent shelter for Nigerians within the no-income, low-income, and vulnerable brackets who cannot afford to own their homes.
“We have developed the concept note that is undergoing review. Once concluded we will present it to the Federal Executive Council FEC for approval and legislation”
Tte Minister further stated that, statistics revealed that, less than 10% of land in Nigeria is registered while 90% of the land unregistered.
“Because of the law rate of formalisation, land in our Country has limited earning capabilities as an asset and as a securitised commodity.
In a remark, Kaduna State Governor, Malam Uba Sani noted that, Provision of affordable houses for Kaduna State citizens was a key priority of his administration and committed to addressing the housing deficit across the State in line with President Bola Tinubu’s Renewed Hope Agenda.
Represented by his Deputy, Dr Hadiza Balarabe revealed that, Kaduna State government had adopted a holistic approach towards filling the identified gaps through partnership with local and international investors.
“Qatar Charity, in partnership with the Kaduna State Government, is constructing Mass Housing for the Less Privileged and Kaduna Economic City, all in Millennium City, Kaduna. I recently performed the groundbreaking for the construction of the 3319 Hectares Nuru Suraj Ungwar Dosa New Extension Layout”
“This project is being executed through a Public – Private Partnership. Nurul Suraj and Kaduna State Government are working together to develop 35,000 plots for our people”
“The Social Housing Scheme was introduced to provide affordable accommodation as a social service for the vulnerable populace (low-income earners). Efficient design and construction methods, which are key indicators driving the scheme’s affordability target, were employed”
“Kaduna State has attracted many investors (real estate developers) and has partnered with them in constructing mass housing estates across Kaduna metropolis under a PPP arrangement. The government provides unencumbered land to the developers and facilitates all approvals and permits free of charge.”
Malam Uba Sani called on Local and International Investors to avail themselves of the huge opportunities in the housing sector in the State.
“We extend not just an invitation, but a steadfast guarantee that your investments in Kaduna State will be nurtured by a robust policy framework and unwavering support”
According to him, the International Housing Exhibition would afford the state the opportunity to Showcasing affordable and sustainable housing projects of the Federal and Kaduna State Governments as well as Showcasing innovative housing solutions and technologies.
Senator Uba Sani pointed out that, the event also offered a unique platform for stakeholders to discuss and share housing development initiatives, explore emerging technologies, and proffer practical solutions to Northern Nigeria’s housing challenges.
Earlier, the Speaker of the House of Representatives, Alhaji Abbas Tajudeen disclosed that the maiden Kaduna International Housing Exhibition hold immense significances to the people of Kaduna State and the country at large.
Represented by the Chairman of House Committee on Housing, Alhaji Abdulmumini Jibrin said it was imperative for stakeholders work together to ensure that individual has access to safe, affordable and dignified housing which required multifaceted approach to increase the supply of affordable housing.
Critical stakeholders on housing have attended the exhibition including traditional rulers among others.
COV/AMINU DALHATU
