NESG Seeks Special Intervention Fund on Mass Housing Devt

Ndubuisi Francis in Abuja

The Infrastructure Policy Commission (IPC) of Nigeria Economic Summit Group (NESG) has advocated the need for Nigeria to develop a special intervention fund that would help to subsidize the cost of mass housing development.
This is even as the group rejected the current 17 million housing deficit, adding that one of the cardinal responsibility of government is to guarantee the security and welfare of the people.

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Member of the Committee, Engr. Kashim Ali who disclosed this yesterday when he led members on a courtsey visit to Federal Mortgage Bank of Nigeria (FMBN) headquarter in Abuja noted that ‘citizens cannot be said to be secured when they lay under the bridge’.

He noted that the essence of the visit is to seek for effective collaboration with FMBN since its the foremost institution on mortgages and housing delivery in Nigeria.

According to him, “We also want you to consider the recommendations made in the last NESG summit especially the ones that concerns the urban and housing development sector”.

Ali who is the president of Council for the Registration of Engineers in Nigeria (COREN) further sought FMBN backing in enacting laws on titling, foreclosure and construction of housing projects .
He noted that such laws should be protect investors, developers and home buyers.

Reacting , the managing director of FMBN, Arch Musa Ahmed Dangiwa recalled that the bank participated actively in the last economic summit as one of the discussants on housing and opportunities in low cost housing.
He added, “We are happy to receive your indication of interest to partner with us towards enhancing affordable housing which is one of your key focus”.

Dangiwa maintained that FMBN has improved the turnaround time on access to loan saying that the bank has reduced the ease of doing business to enable people access loans as quickly as possible.

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