Abuja – January 29, 2024 – Viewpoint Housing News.
Ahmed Dangiwa, the Minister of housing and Urban Development, has encouraged the Federal Housing Authority (FHA) to increase the amount of houses it delivers by issuing bonds and obtaining money from the capital market.
Speaking during the FHA’s 50th anniversary celebration recently, Dangiwa said that, in light of the nation’s housing deficit, the agency’s present pace of providing 1,000 houses annually was inadequate.
“The FHA must capitalise on its unique position to deliver more value to the government and Nigerians,” Dangiwa stated. “The FHA has the advantage of operating across all income segments.”
He urged the FHA to model itself after foreign housing organizations, including Algeria’s housing agency, which provides between 400,000 and 1 million homes a year.
According to Dangiwa, In order to produce mass housing projects around the nation, sell them, repay the loans, and announce a profit, he said, “I want to see the FHA go to the capital market, issue bonds, and raise funding.”
In the next fifty years, he projected the FHA celebrating the successful building and delivery of millions of houses to Nigerians.
In an effort to increase efficiency and provide Nigerians with more affordable homes, the minister also urged the FHA to adopt operational improvements including process optimization and digitization.
