FCTA To Partner Chams On Abuja ICT Smart City Project

The minister of the Federal Capital Territory Administration, FCTA, Muhammad Musa Bello, has said the FCTA is working on arrangement to partner with Chams Plc, a leading provider of identity management and intelligent business solutions on the Abuja Smart City project.


Speaking during a presentation by Chams Plc in Abuja recently, the chief of staff, FCTA, Mr Bashir Mai-Bornu, who represented the minister at the event, said the FCTA would like to engage the company in providing ICT solutions in the areas of education and health. He said: ‘‘Technology is the future and anybody that ignores it does so it at his own peril. The FCT requires a lot of ICT solutions because of the services it provides.

We believe with what Chams has done in the country in its 33 years of existence, it can play a big role in making Abuja a smart city.’’ In his response, the group managing director, Chams, Mr Femi Williams, said the company has a lot of creative ways of solving problems.

According to him, the company is good at understanding challenges and can generate Internally Generated Revenue (IGR) for the FCTA from any area with different strategies. In his presentation, Williams said the company has provided intelligent business solutions for many clients which include: Osun and Anambra state governments, Institute of Chartered Accountants of Nigeria, ICAN, Nigerian Communications Commission, NCC, Chartered Institute of Taxation of Nigeria, CITN, among others.

‘‘Most of our solutions are built and managed by Nigerians. We don’t sell solutions, we adapt them. We are very good at understanding challenges. We do intelligent business solutions that add value to our customers.’’ Chams, a conglomerate commenced business in Nigeria in 1985 as a computer hardware and maintenance company. The company is quoted on the Nigerian Stock Exchange.

Poor Remittances by Discos Threaten NBET’s N701bn Power Fund

Chineme Okafor in Abuja

There are strong indications that the N701 billion payment assurance facility secured by the Nigerian Bulk Electricity Trading Plc (NBET) for power generation companies (Gencos) in Nigeria may not last up to the 24 months disbursement timeline it was originally planned for. This is because of the poor financial remittances of the 11 electricity distribution companies (Discos) in the country.

The fund, which was established in 2017, was to be disbursed till 2019,


Housing News gathered at the weekend that following the consistent drop in the monthly remittances of the Discos to the NBET for electricity sold to them, NBET might have been forced to take more from its N701 billion payment facility to ensure it met the 80 per cent payments to the Gencos. This, sources in the industry explained to the paper, constituted a real threat to the 24-month disbursement window of the facility. Similarly, the NBET, it was learnt, had documented this threat and presented the likely scenario – that is, how long the facility could take the sector if the poor remittance levels of the Discos continued – to relevant authorities of the federal government for actions.

In December 2017, NBET disclosed that the remittance performances of the Discos dropped to an all-time low of 8.33 per cent, as against the 100 per cent they were supposed to do. It explained then that five Discos, comprising Ikeja, Kano, Kaduna, Yola, and Jos, did not remit any money to it, and that it got just N4.47 billion out of the N50.21 billion December invoice it sent to the Discos. NBET also stated then that while the total financial shortfall for the month was N49.766 billion, it still paid the Gencos up to 80 per cent of their invoices with support from the N701 billion facility.

Again in January 2018, NBET stated that just four of the Discos – Abuja, Enugu, Jos, and Yola – paid parts of their invoices to it. It said out of N44.85 billion invoice it sent to the Discos in January, only N6.08 billion was received from the four Discos while seven others paid nothing. The remittance for January, it noted, represented 13.58 per cent of the invoice.

However, sources in NBET explained to Housing News that if the poor Discos’ remittances continued, the N701 billion may be depleted by September 2018, some four months ahead of the 2019 disbursement duration. One of the sources even told the paper that a term-sheet had been prepared by NBET in this regard, and shared with the government. He said it was expected that this would lead to some pre-emptive measures from the government.

NBET was supposed to have started disbursing the N701 billion facility from January 2017. Drawdowns according to the term-sheet of the facility would be made on a monthly basis over a period of 24 months.
The facility, from its scope, would be used to assure payments for the energy delivered by the Gencos, gas companies for gas supplied and transported to them, as well as certain specific and critical creditor obligations of the Gencos.

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In a related development, Housing News gathered that the management crisis rocking NBET had simply refused to go away, with a religious slant now introduced into the internal battle for supremacy between the Managing Director of NBET, Dr. Marilyn Amobi, and two of her subordinates – Mr. Waziri Bintube and Mr. Abdullahi Sambo – both of whom have reportedly been dismissed or suspended from the services of the company.

According to petition letters written to NBET by two Muslim groups – the Muslim Media Watch Group and Abuja Muslim Forum –which was obtained by Housing News, Amobi was accused of injustice and religious victimisation of Bintube and Sambo in the company. The groups accused NBET under Amobi of religious intolerance and unconstitutionally depriving both officials of their salaries and emoluments, which they said had been in arrears.

In their petitions, they claimed Amobi had continued to exhibit acts of executive lawlessness, despite interventions from the Ministry of Power, Works and Housing in the management struggle between her and the duo.
The petitions were signed by Nasir Balogun, who is the national secretary of the Muslim Media Watch Group, and president of the Abuja Muslim Forum, L. J. Ahmad.

Housing News gathered that Amobi might have called the attention of the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar, and Emir of Kano, Muhammadu Sanusi II, to the development, being that they are both president and vice president of the Nigerian Supreme Council for Islamic Affairs (NSCIA), respectively.

Officials of NBET, who are close to the development, however, told Housing News, on condition of anonymity, that the issues relating to Bintube and Sambo bordered on basic organisational discipline and respect for rules governing the actions of government officials. They explained that both officials left their duty posts when the office of the Accountant-General of the Federation seconded two of its officials to NBET to help it attain a self-accounting status. That exercise, they noted, required some management reshuffling and Bintube and Sambo were, thus, moved to head new departments. This, the NBET officials alleged, did not go down well with the two officers and they subsequently left their duty posts for up to six months in disregard of both the government and NBET’s rules of engagement.

Accordingly, both officers rejected their appointments and, reportedly, petitioned a non-existent board of NBET, with the insistence that Amobi had no right to redeploy them to new departments.

When Housing News called the Permanent Secretary in the ministry of power, Mr. Louis Edozien, for comments on the development in one of the agencies under his ministry, and especially on the fact that NBET does not have a board yet to sit over the issue, as expected, he simply referred the matter to the media unit of the ministry, saying the unit should be able to handle the request.

Further, the paper placed a call to Mr. Hakeem Bello, who is Senior Special Assistant to the Minister of Power, Works and Housing, Mr. Babatunde Fashola, to clarify the situation, considering that the Muslim groups alleged that Fashola had directed Amobi to take back the two officials. But Bello stated that he was not aware of such petition or the minister’s directive. He, however, promised to investigate the matter and revert back to resolve the queries. Bello had yet to respond at the time of filing this report.

New Nigeria Development Company (NNDC) records 17% income decline

The New Nigeria Development Company (NNDC) on Friday said it recorded a 17 per cent decline in income in the 2017 financial year which ended March 31, 2018.

The Chairman of NNDC, Bashir Dalhatu, stated this while addressing directors and Secretaries to the Governments of the 19 Northern states at the company’s Annual General Meeting (AGM) on Friday in Kaduna.


Mr Dalhatu, a former Minister of Power and Steel, said the NNDC recorded N747.11 million in 2017 as against the N898.56 million in the previous year representing, 17 per cent decline in income.

“The challenging business environment under which the company operated during the period impacted on the performance.

“The company recorded an operating income of 747.11 million against 898.56 million in the previous year representing 17 per cent decrease.

“The decrease was attributed to lower dividend income on investments. Also, operating profit before tax of 138.25 million was achieved against 167.79 million in the previous year representing 18 per cent decrease.

“Similarly, the company’s net asset for the year was 9.19 billion against 9.41 billion in the corresponding year representing 2.2 per cent decrease,” the chairman said.

He said the decrease was due to lower dividend income on investments, “as the economy faced challenges ranging from acute scarcity of foreign exchange, high inflation, dwindling revenues to government and decline in Gross Domestic Product (GDP) among others”.

The NNDC chairman said this occurred due to the economic recession, the country experienced in 2016 that led to rise in general cost of goods and services impacted on purchasing power across all the sectors.

“Thus, the overall impact on operations was a drop in revenue and increase in expenses.

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“Despite the above challenges, the company strives to attain a modest performance during the period and has remained resolute and focused in achieving its set targets,” he said.

He said NNDC had continued to support the development of quality manpower for the North and the country in general.

“This, it is doing through earmarking resources towards promoting the NNDC Young Professional Development Trust (NNDC/YPDT), the NNDC/ICAN Students Special Project (SSP) and the Musa Bello Learning Resource Centre (MBLRC) in the fields of accounting, Stock Banking, Insurance and Information Technology.

“Since the inception of the schemes, some 10 years ago, a total of 820 professionals had been produced,” he noted.

According to him, the development of a medium density housing estate, which the company started in the second half of 2015, is almost completed.

Mr Dalhatu said that the company had so far constructed 78 units of houses in different parts of Kaduna city for sale or rent by the public.

“The economy has now moved out of recession, we are optimistic about the next financial year as it is anticipated that the various policies of the government would start having positive impact on the business environment.

“Furthermore, we shall continue to pursue vigorously the various initiatives that the company has put in motion, while taking advantage of new business opportunities with a view to improving the company’s earnings.”
The Chairman commended the board members, the management and staff of the company for their unflinching support in spite of the economic challenges.

FMBN: Marching Towards Affordable Housing Through Collaboration And Accountability

Under the watch of its new managing director, Arc Ahmed Musa Dangiwa, the Federal Mortgage Bank of Nigeria (FMBN) is on a steady match towards bridging the huge housing deficit in the country.

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The World Bank estimated that Nigeria has a housing deficit of about 17 million units. But at a time optimism is in short supply in virtually all sectors, the FMBN is giving contributors to the National Housing Fund reasons for hope. The new management is pulling off some remarkable feat particularly with its promotion of the following innovative reforms: Business Process Automation: The FMBN has embraced technologies aimed at achieving end-to-end business process automation within the institution. Its adoption of core banking application, wide area networking and mobile and internet solutions, will allow the Bank to seamlessly link with primary mortgage banks and interface with customers. Corporate Governance Framework: The Bank has engaged the Centre for Corporate Governance, which is affiliated to the Institute of Directors (IoD) to carry out Corporate Governance Audit and develop a Corporate Governance Framework and Governance structure in line with international best practices. Enterprise Risk Management Framework: The FMBN is presently implementing an Enterprise Risk Management Framework project undertaken by PricewaterhouseCoopers (PwC) Limited and which is due for completion by Q2 2018. Improvement In Loan Portfolio Performance: The institution has embarked on aggressive loan recovery that has, in turn, improved its loan portfolio performance.

By engaging debt collectors and working with the Nigeria Inter-Bank Settlement System (NIBSS) and PMBs, the Bank is automating loan repayment debits from customers’ bank accounts, which will reduce the rate of loan defaults. Advocacy For Legal/Regulatory Framework Reviews*: As part of its on-going reforms, the bank has worked with government and private institutions like the Central Bank of Nigeria (CBN), the Real Estate Developers Association of Nigeria (REDAN) and the Nigeria Mortgage Refinance Company (NMRC) on advocacy with State Governments to enact mortgage friendly (foreclosure) laws and improve land registry practices.

The Rendition Of Outstanding Financial Statements: To ensure accountability and regulatory compliance in FMBN, the new executive management team of the Bank has taken crucial steps to ensure the rendering of all outstanding financial statements by end of 2018. The new management of the FMBN has continued to ensure transparency in the NHF with SMS and email alerts now being introduced. Mr Dangiwa, in a newspaper interview, said: “Our vision is to reposition the bank as a foremost apex mortgage bank in the country and provide affordable housing financing for contributors to be achieved through improved and transparent operations. All of these are achievable with the cooperation and collaboration of stakeholders. This is our primary aim and focus”. NHF Refund: Documents obtained from the FMBN show that between April 2017 and January 2018, the new Executive Management Team of the Bank has refunded N5, 568, 252, 279.88 to 38, 255 contributors of the National Housing Scheme.

This indicates a 31.4 per cent increase in NHF refunds from a cumulative repayment of N17, 734, 599, 814.76 to a total of 190, 943 contributors since inception of the window in 2015. Also, the usually long period taken to process NHF Refunds has been shortened by the FMBN new management. NHF Mortgage Loans (NHFL): Figures obtained from the FMBN show that the Bank has equally disbursed N7.97 billion as NHF mortgage loans to 1, 019 beneficiaries between April 2017 and January 2018. FMBN Home Renovation Loan: Disbursements totalling N5.06 billion were made as home renovation loan to a total of 6, 718 beneficiaries under the aforesaid period. Our source further gathered that the FMBN, as of January 2018, has cleared backlogs of outstanding accounts up to 2014. The audited accounts are said to be pending approval of Central Bank of Nigeria (CBN) and the Honourable Minister of Power, Works and Housing. The 2015 audit exercise has equally been concluded and FMBN is awaiting the draft copy.


The 2016 and 2017 outstanding accounts will be concluded before the end of 2018. The FMBN, incorporated as the Federal Mortgage Bank of Nigeria in 1956, is the sole government institution saddled with the task of providing mortgage finance to Nigerians through the National Housing Fund (NHF). Previously known as the Nigerian Building Society, the FMBN is tasked with the provision of long-term facilities to mortgage institutions, mobilisation of both domestic and offshore funds into the housing sector, collection and administration of the National Housing Fund in the country in accordance with the provisions of the NHF Act. The FMBN has carefully designed the NHF to mobilise funds to provide the citizens with affordable residential houses through accredited Primary Mortgage Banks (PMBs) at six per cent which is the lowest rate in the country. Tasks Ahead Of The FMBN Even though the FMBN has faced a couple of operational challenges over the years, the institution has continued to ensure increased accountability in the management of the National Housing Fund. The FMBN has taken thoughtful steps to re-integrate defaulting states like Niger, Bauchi, Kebbi, Lagos, Kano, Ondo, Edo and Oyo into the NHF scheme in order to improve its performance indices. “We are currently reaching out to these states to see if we can bring them back on board to the NHF scheme…Mostly, we always tell them the advantages of joining the scheme because of the numerous products they can access and enjoy. – Olu wrote in from Abuja

Delta, TURECC Flag Off 1,000 Housing Units For Civil Servants

Asaba – Delta State Government, in partnership with TURECC, an international estate construction firm, has flagged off 1,000 Housing Units. This is part of the efforts of the state government to make the state civil servants and others have their houses.

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Mr. B O Omoniyi, the director and head of marketing, Delta Trust, who represented Delta State Government, said on Tuesday that since it was a right for everybody to have a house and not a privilege, it was also possible for everyone to possess the houses without stress.

While he explained that TURECC had a number of good products and vision, noting that housing was essential through investment and others, he encouraged everyone to patronise the bank, which is solely established by the Delta State Government for housing purposes, explaining that the bank had various facilities to finance any property project without hindrance to the beneficiaries.

Pastor Elvis Uto, TURECC’s director of operations, in his opening speech, averred that the firm was out to encourage everybody to invest in land property, be an investor and be able to leave something for the next generation.

According to him, there were opportunities in such packages like TURECC Own a House, TURECC Apartment, TURECC International Properties, TURECC Business, Garden City, Construction and others where would-be property owners could invest in and became property owners without stress.

He said what is important is to have a regular income, “identify the type of two or three bedroom executive desired and from your budget choose between the Toy House Executive, Toy House Delux and Toy House Standard available.”

Uto disclosed that whether the owner of the land had started construction or not, had approval or not, it does not matter but that what was important was for the intending house owner to register with TURECC, which would perfect the other documents to the Certificate of Occupancy, C Of O.

Obaseki Pegs Time for Building Approval at 48 Hours, CofO, 30 Days

By Adibe Emenyonu in Benin City

Edo State Governor, Mr. Godwin Obaseki, has charged the Ministry of Physical Planning and Urban Development to ensure a 48-hour turn-around time for approval of building plans in the state within the next two months.

Gov. Obaseki also directed the Edo Geographical Information Agency to ensure that Certificates of Occupancy (C of O) and Rights to Occupancy are issued to applicants within 30 days of application, demanding that this should take effect in the next 12 months.


He gave the directive while speaking at a two-day workshop organised by the Ministry of Physical Planning and Urban Development, themed: ‘Strengthening the Institutional Framework for Physical Development Management in Edo State,’ held in Benin City, the Edo State capital, recently.

Obaseki said the two-day workshop was organised to develop the expertise of stakeholders and strengthen the institutional framework for physical development and management. He said there was need to re-calibrate the management of the physical infrastructure to make room for well-coordinated urban development.

Noting that development had not been controlled for a long while in the state, he said, “This has contributed to raising a generation that lacks required knowledge on the importance of registering development plans. People need to be educated on the importance of registering their building plans. People just wake up and do what they like, and in the process turn cities into slums,” he said.

Obaseki added, “The focus of this administration is to re-enact and rebuild the physical development and space of the state. There is need to explore the use of legal frameworks to reposition the Urban and Rural landscape of the state. This will assist us in capturing the needs of the people in the state without compromising standards.”

He said his administration has developed well-thought-out plans hinged on six strategic pillars to include institutional reforms, environmental sustainability, culture and tourism, among others, adding that “the state intends to ensure sanity in urban development.”

Homeowners’ Charter: Amosun Explains Delay In Issuance Of C of O

Abeokuta – Ogun State Governor, Senator Ibikunle Amosun, has identified lack of proper documentation and incomplete payment by applicants under the Homeowners’ Charter Programme as factors responsible for the delay in issuance of Certificates of Occupancy.

Amosun stated this during the 29th edition of presentation of Certificates of Occupancy and Building Plan Approval to another batch of beneficiaries at the Arcade Ground, Oke-Mosan, Abeokuta.
The Governor, represented by the Commissioner for Commerce and Industry, Otunba Bimbo Ashiru, explained that though government allowed payment by installment, some applicants who had taken advantage of the opportunity have not done the needful by completing their payment and other documentation.

“The question asked by some applicants is why the delay in the issuance of C of O. But we found out that they have not done the needful. Some are yet to make full payment, though this government allows payment by installment.

“Others have not completed their documentation under the scheme. Let me assure you that all applicants that meet the requirements will collect their C of O before the end of our tenure,” Amosun said.
He said proper documentation would assist government in fast tracking the process of issuing land title documents and free the owners from land grabbers, forging or cloning their documents.


In his welcome address, the Director of Planning, Research and Statistics, Ministry of Urban and Physical Planning, TPL Bola Ajayi, said the programme would also help to provide enumeration data for medium town planning for the provision of schools, hospitals and other essential services to the people.

Taking Nigerian affordable housing narratives beyond borders

With over 170 million people, Nigeria, the most populous country in black Africa is plagued with housing problem.
This issue has been a thorn in the flesh of various governments as moves towards addressing the ugly phenomenon repeatedly failed.

In 1991 for example, the Nigeria housing deficit was seven million. It increased to 12 million in 2007, 14 million in 2010 and currently over 17million units.

To resolve the deficits, various governments through national development plans made frantic efforts in ensuring adequate mass housing, especially in urban areas. Like every administration before, the present Government’s effort is still fall short of meeting the nation’s housing expectations.

For instance, contrary to its promise in 2016 to build 5,000 housing units for workers in the public sector in the 36 states every year for the next three years, the government seem to have deviated from that direction as it announced last August, that it had commenced 2,736 new housing units in 33 states across the country.

In the same year, the government initiated Nigeria Housing Fund Programme (NHFP) under the Social Investment Fund of the Federal Government, in which N100 billion was set aside for its commencement. It is a scheme coordinated by the Central Bank of Nigeria to ensure access to housing finance by prospective homeowners.

The Federal Government has also earmarked N35.4 billion for housing in the 2018 budget for its workforce under the National Housing Programme.

It is pertinent to state that with the enormity of the nation’s housing problems, the 2018 budgetary allocation seems inadequate.

In view of this repulsive trend, the World Bank, in 2016, projected that it would cost the country about N59.5 trillion to address the housing deficits in the country.

About 108 million Nigerians are estimated to be homeless, based on an average family of six people per housing unit. The Bank projected that the country required about 700,000 housing units every year to curb this deficit.

With the prevailing situation, it is apparent that the real estate sector required aggressive private sector intervention.

One of the notable real estate companies to have made meaningful impact in the sector and also achieved giant stride in resolving the housing deficit in the country is Homework Development and Properties Limited.

The Lagos-based real estate company has not only shown its capacity to deliver affordable quality products, but has taken its success story outside the shores of the country.

The company also demonstrated that it could offer subscribers, within and outside the country, value for money through its affordable quality products, when it participated at the 2017 yearly conference of the Association of Nigerian Physicians in the Americas (ANPA) in Atlanta, Georgia, United States.

Through the event, the firm restored the trust foreign investors once had in Nigeria’s real estate sector and promoted the recent positive developments in the real estate industry.

ANPA members, who have benefited from the services of the company, specifically requested that Homework participate in the conference in order to expose the Nigerian success story to diaspora.

According to the Director of Homework Development and Properties Limited, Jide Adekola, an architect, the ANPA conference provided a platform to change the perception that foreign investors would not get value for money or might get scammed in Nigeria.

The event, he said, also created the awareness that there are professionals in the sector with the expertise to provide quality products in due time.

“The change in perception, which we have created, would in no small measure boost businesses and increase the volume of foreign direct investments that can engender increase in gross domestic product of the country, “Adekola said.

He added that Homework would also take part in the annual conference organised by the National Association of Nigerian Nurses in North America and other subdivisions within the United States.

It is also planning to hold similar exhibition and talks in Canada, the United Kingdom and other countries with large population of Nigerians

Homework had also ensured quality and affordability in its projects, which were showcased at the West Africa Property Investment (WAPI) summit last at Eko Hotel, Victoria Island, Lagos.

Responding to accolades from stakeholders and visitors to its stand at the summit, Adekola said the company’s projects were driven by passion to offer affordable quality homes to Nigerians.

“The company is driven by passion to create world class estates, which sets it apart in the industry. It delivers unmatched quality services to its clients through the provision of great architectural works in serene environments,” he said.

According to him, Homework intends to resolve the housing problem in the country through affordable mini estates of one, two and three-bedroom apartments with innovative architectural designs.

He said the company intended to deliver on the projects within a short period and that the affordable mini estates would be spread across the country. “There is a new demand for these apartments and there are people that need them for investment and related purposes since they are affordable.”

Also, a Director of Homework Development and Properties Limited, Chima Emerueh, said the company has made remarkable progress through its products located at Banana Island, where it has a small gated community of terraces and semi-detached duplexes.

He said the firm also plans to replicate its luxurious and quality products in other places like; Ajah, Yaba and other parts of the mainland.

Following the success recorded so far, Homework intends to explore opportunities in other West African countries with products within the reach of the people.

“Most people in Africa are looking for low cost houses and because we have done it in Lagos, we will do same in countries in the sub-region,” Emerueh assured.

FMBN to MBAN: Refrain from delaying disbursement to developers

The Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Arch. Ahmed Musa Dangiwa, has warned the Mortgage Bankers’ Association of Nigeria (MBAN) to stop delaying the disbursement of funds to developers.
Dangiwa, who gave the warning at a tripartite meeting between the Federal Mortgage Bank of Nigeria (FMBN), Mortgage Bankers’ Association of Nigeria (MBAN) and Real Estate Developers’ Association of Nigeria (REDAN) in Abuja recently, said disbursements should be made once such funds are received.

He further warned that it would not hesitate to sanctions aany mortgage banker that defaulters.
Dangiwa also urged members of MBAN to minimize the Turn Around Time (TAT) even as he charged REDAN to come up with affordable housing models and avoid unilateral changing of building designs, specifications and scope.
Non-availability of funds had been identified as some of the problems confronting the built environment in the country.
Similarly, experts and stakeholders have called for improved funding for the industry to tackle the huge housing deficit in the country, which had been estimated at 17 million.

Why housing estates in 10 states remain unoccupied
The Managing Director of Federal Mortgage Bank (FMBN), Arch. Ahmed Musa Dangiwa, has identified affordability as the major reason housing estates built by the bank in 10 states remained unoccupied.
Dangiwa said the development was affecting genuine housing programmes despite efforts to construct cheaper homes, many of them remained inaccessible.
He stated this recently at a meeting with 9-member the delegation led by the President of the National Economic Summit Group (NESG), Engr. Kashim Ali, to FMBN headquarters, in Abuja.
The MD stated that there are plans to partner with state governments to fix the infrastructural aspect of the projects in order to reduce the entire cost.

He also said efforts were ongoing to commence implementation of the rent-to-own initiative.
While noting that the bank is the last resort for the common man, he disclosed that the Bank will partner with the Nigerian Labour Congress (NLC) to design cheap homes, reduce housing cost to ensure affordability.
“In order to assist homeowners, we realize that that factor of affordability mentioned has been a stumbling block. We currently have estates in more than 10 states that have not been occupied.
“They are being built at a cheaper rate. But despite that, people cannot access the mortgage. We are looking at two ways to address it. This housing development project for Nigerian workers, we are trying to encourage the state governments to do the infrastructure for us to reduce the housing cost.
“Second is the rent-to-own initiative. We have finished the paper, it’s just to implement it. We are discussing with the state governments to key into it.”

In his remarks, the NESG President asserted that the federal government has the constitutional mandate to provide shelter for Nigerians before talking of security and food.
He blamed stakeholders in the sector for relying on the statistics of 17 million housing deficits rather than providing more reliable data to enable proper planning and development.
He also called for the inclusion of the real estate developers and financiers in the National housing council in order to assist in the development of designing housing policies.

Housing Loan Scheme Will Give Succour To Public Servants ―Dogara

THE Speaker of the House of Representatives, Honourable Yakubu Dogara on Tuesday stated that the Bill to amend the Federal Government Housing Loan Board to administer housing loan scheme to public sector workers would bring succour to public servants by bridging the housing deficit and increasing productivity in the public sector.

Dogara stated this in Abuja while declaring open a public hearing on the bill organised the House of Representatives Committee on Public Service Matters


The Speaker who was represented by the House Minority Whip, Hon Yakubu Bada explained that the amendment, when it scaled through, would make mortgage facilities more accessible to public servants at lower interest rates than the ones offered by commercial banks.

According to him, “this Bill has come at a right time to give succour to civil servants opportunity to have access to housing scheme for the purpose of owning a house. Research has shown that as at September 2016, the lowest recorded interest rate on any mortgage in Nigeria is 19 percent and requires 25 percent down payment.

“The question is how many civil servants can afford a mortgage under such harsh conditions? It is our objective that when this Bill becomes law, most civil servants will have access to a house of their own. I sincerely believe that this Bill will go a long way in bridging the housing deficit and increasing productivity in our public sector.”
The Speaker pointed out that it was on record that most public servants could not secure accommodation in Abuja due to high cost of rents, with majority of civil servants living in Nasarawa and Niger States and commuting to work in Abuja every day from long distances, thereby having an effect on productivity that was better imagined than experienced.

He recalled that during the 2017 Housing Summit organised in Abuja by Housing Circuit Magazine in partnership with other stakeholders, it was revealed that as at 1991, when the National Housing Policy was enacted, Nigeria had a housing deficit of seven million units but as at today, the housing deficit had grown alarmingly to seventeen 17 million and would continue to grow.

The Speaker, therefore, urged the stakeholders to proffer solutions on how to administer the Housing Scheme for Federal Public Officers in order to reduce and or eliminate the overall housing deficit in Nigeria.

In his remarks, the Chairman of the Committee, Hon Gogo Bright Tamuno disclosed that the amendment and the public hearing became necessary in order to expand the scope of the law so as to be able to accommodate those Agencies such as the Federal Road Safety Commission, FRSC and the Nigeria Security and Civil Defence Corps, NSCDC among others‎ that were not in existence at the inception of the law.

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