The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) have reaffirmed their commitment to collaboration to address Nigeria’s housing deficit.
The Managing Director of FMBN, Shehu Osidi, restated the importance of this partnership during a courtesy visit by FHA’s delegation led by Managing Director/CEO, Oyetunde Ojo.
Osidi highlighted the unparalleled synergy between the two agencies, stating, “Our mutual collaboration is the best thing that can happen to the housing sector in Nigeria.” He stressed the importance of this alliance in realizing the government’s agenda to provide affordable housing for Nigerians.
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Acknowledging President’s directive to transform the nation into a construction hub, Osidi emphasized the need for partnerships to achieve this goal. He outlined FMBN’s dedication to providing mortgage finance to low and medium-income earners and ensuring the completion of housing estates across the country.
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“Our mutual collaboration is the best thing that can happen to the housing sector in Nigeria. The FHA as an institution has the largest land bank and the Federal Mortage Bank of Nigeria is the only institution in Nigeria that can also offer mortgages as single digit; that means it is a synergy that nobody can beat. Like the MD said, the best that we can do is to collaborate and work together and pursue the same objectives,” Osidi stated.
Earlier on, FHA’s Managing Director, Oyetunde Ojo, expressed gratitude for FMBN’s reception and reiterated their commitment to strengthening the existing partnership. He reiterated the shared goal of delivering affordable housing in line with the President’s objectives, emphasizing the vital role of financing in actualizing this vision.
“We have a mandate to build houses but we don’t build houses with papers. You build houses with money. We are happy that since the inception of this administration, the two MDs have been in talking terms and we are going to see a good synergy.
“Let’s come together to see us as partners in progress, that want good development for Nigeria. And to carry the mandate of the renewed hope agenda of Mr President in the area of delivering houses for people and we know it’s not just about delieving houses but it’s about delivering affordable houses for Nigerians to live in. In doing that, a lot is involved.
“The best way we can go, we have to look for money to make sure we deliver, and that’s why this meeting is to extend a hand of friendship with one another. Our collaboration will be able to go a long way, coming here will lead us in the right direction,” Ojo asserted.
