Nigeria @60: Federal Mortgage Bank MD congratulates Buhari, enjoins stakeholders to see the housing sector as a major economy contributor

By Onoja Johnson
 
The Managing Director of the Federal Mortgage Bank of Nigeria, Ahmed Musa Dangiwa has felicitated with president Muhammed Buhari on the occasion of the nation’s independence day and called on the stakeholders of the housing sector to work in synergy with the government towards the provision of affordable housing for Nigerians, as housing remains a major contributor to the nations’ economy.
 
The MD of the apex mortgage institution in Nigeria made this known while speaking with the Africa Housing News in his office in Abuja. In his rating on the performance of the housing sector in Nigeria, Ahmed said the sector is still an emerging market and a reflection of the nation’s economic development. He revealed that the country is running on a housing deficit against what it had guaranteed and that the government as well as the private sectors need to come on board to do more.
 
According to him, the government has to come on-board to do more by allowing more private establishments to partner with the FMBN in providing houses for the citizens. He stressed that despite having other government housing agencies, the private sector should be invested in and be given access to funds. Government institutions should also review and amend obsolete laws in order to improve access to land and mortgages; stating that the Land Use Act has been in use since the 1970s and hasn’t been amended since then.
 
The MD called on the Nigerian leaders to start viewing housing as part of economic development that is of benefit to the government.
 
He said, “The government has to ensure that the private sectors are provided with the needed environment while the government should go on and give the regulatory framework.
 
“Our leaders must start thinking that housing is an economic development that would assist the government. The better the government comes on board and start thinking how they would straighten some institutions of the government in the housing sector in terms of leveraging on them to access funds, not only through the government but through private partnership.
 
“Government institutions should have some of the housing laws amended  to aid quick access to land and even quick access to mortgages for Nigerians.”
 
In his goodwill message, he felicitated with Nigerians as the country sets to mark its 6th decade of being an independent nation.