The House of Representatives Committee on Housing, 11th November, 2024, visited Federal Housing Authority on Oversight duties.
Led by the Committee chairman, Honourable Abdulmumin Jibrin, visited the premises on the provisions of sections 88 and 89 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and the House Standing Rules, mandating Committees to Oversight Ministries, Departments and Agencies (MDAs) under its purview.
In his address to the Committee, the Managing Director and Chief Executive, Hon. Oyetunde Ojo highlighted on how the Authority has fared under his tenure, including Budget performance and other notable achievements.
The Authority’s budget he noted is based on Internally Generated Revenue, having been out of government appropriation. Hon Ojo however noted that FHA has contributed 50% of this IGR to the consolidated Reserve Fund (CFR) through direct deductions to the Treasury Single Account (TSA) Sub Recurrent Accounts (CFR). This leaves the Authority with the remaining 50% for all its operations (personnel, overhead and capital costs).
The MD noted other achievements of Management as stepping up the review of the Authority’s ACT, embarking in capacity building aimed at preparing staff for the roles expected of the Authority under the Renewed Hope Housing Programme of President Bola Ahmed Tinubu (GCFR), Digitalization of the Authority for both operational efficiency and accuracy.
Hon. Ojo also noted that management under his watch has achieved the interconnectivity of all the zonal office with the Head Office for real time communication and feedback with the zones. The Authority he said has acquired land in 30 states across the country with all relevant documents and titles, and has embarked in the aggressive recovery of all properties that have been illegal acquired, encroached upon or annexed.
Speaking further, Hon. Ojo said ” we are currently undertaking a verification exercise of all our land and houses. This will create a window for our bonafide allotees, who have been involved in any illegal annexation or encroachment to regularize or revalidate their properties”
FHA Hon. MD/CE said the Authority has acquired a Max 350 Drone to enable collecting a precise and accurate database of all the Authority’s land and houses.
The Managing Director also briefed the Committee that management has strengthened the Authority’s bank: FHA Mortgage Bank Ltd and is currently working on its national license. He also reported that Authority has incorporated another subsidiary; FHA Energy Company Ltd, with the aim of meeting the Energy needs of all its estates across the country.
The Chief Executive announced that the Authority will soon embark on mass housing construction, starting with 200 units in some zones. This he said would greatly boost the nation’s economy by creating jobs through the value chain.
In his response and comments, the House Committee chairman Hon. Abdulmulmin Jibrin, commended the Management for the good work they are doing in the Authority. He said he appreciated all they have done from the benefit of hindsight, having worked in the agency as an Executive Director.
Hon. Jibrin noted that with the capacity management has demonstrated, the House Committee would set up a special Technical Committee to make sure that the Authority is included back to appropriation.
He assured the Authority that the committee would work closely with the Authority to secure funding for housing projects across Nigeria.
