Minister Babatunde Fashola issues ultimatum to Ekiti Housing contractors

The Minister of Power, Works and Housing, Babatunde Raji Fashola (SAN), has issued an ultimatum to contractors handling the National Housing Project in Ekiti State.

Fashola, who urged the contractors handling the 70 housing units, to deliver by June said the Federal Government was willing to begin the second phase in earnest.

He spoke on Friday in Ado Ekiti while inspecting the work progress at the NHP located on Agric Olope, off Ajilosun, Moferere Area, Ado Ekiti in company with Ekiti Controller, Mr. Saheed Gbadebori. He was represented by the Zonal Director, South West, Mr. Olusegun Dunmoye.
Fashola said, “Speed up work, we don’t have time the rains are here. If you delay for too long, rain will catch up with us. It will delay us further.

“The money is there but we have to follow the procedure. So money is not the problem; do your bit; we will do our bit, so that we can commence the second phase.”


The 70 housing units are comprised of 10 units of one bedroom, 40 units of two bedroom, 20 units of three bedroom flats.

The former Lagos State governor explained that the Ekiti project was one of the five ongoing sites in the Southwest, adding that the quality of work was high.

FMBN issues 2,724 mortgages worth N20.237bn – Fashola

The Minister of Power, Works and Housing, Babatunde Fashola said that since 2015 to date, the Federal Mortgage Bank of Nigeria ( FMBN ) had issued 2,724 mortgages to Nigerians.

Fashola disclosed this while inaugurating the respective Governing Boards of the Federal Housing Authority (FHA) and FMBN on Thursday in Abuja.

The minister noted that the mortgages which were issued under the National Housing Fund (NHF) scheme were worth N20.237 billion.


He said the ministry was piloting a National Housing Programme and constructing houses in 33 states to ensure more Nigerians own homes.
“We are doing this to validate and test what type of housing design responds to Nigeria’s diverse cultural, climatic and religious needs, so as to ascertain what is acceptable and affordable.

“We are at different stages of construction in different states, and we have recommended these designs to FHA, without imposing them.

“Our decision is informed by the evidence of previous housing initiatives that people did not take up resulting in empty houses that still abound in almost every state of Nigeria,’’ he said.

The minister explained that the untaken houses in spite of housing deficit suggested that they were not affordable or acceptable to the people.

He urged the newly inaugurated member of the boards to reposition their brands and provide guidance for the Managing Directors and Management teams of the orgaisations.

“For the avoidance of doubt, let me state that the policy of government is to deliver affordable housing, acceptable to Nigerians.

“The agencies, whose brands you will now administer are the implementing arms of government for housing delivery and housing financing.

“You must, therefore, use your positions to affect the lives of millions of people who will partake and benefit of the prosperity that a housing economy can offer,’’ he said.

In response, the FHA board Chairman, Sen. Lawal Shuaibu promised to employ collective efforts to reposition the housing sector.

Shuaibu assured that national housing policy would be effectively implemented.

Also speaking, Mr Adewale Adeeyo, FMBN board Chairman commended the laudable programmes of the ministry aimed at raising the standard of Nigerians.

Adeeyo pledged that the FMBN board would make a monumental impact through provision of affordable mortgages to Nigerians.


Infinity Trust Mortgage Bank Plc, has accused the Federal Inland Revenue Service (FIRS) of illegally sealing its premises in Garki, Abuja and thereby making it to lose investment opportunity worth several millions of Naira.

The Chief Financial Officer of the bank, Samson Abaka, said FIRS officials accompanied by armed security operatives stormed the bank premises and sealed it up without prior notice, over alleged nonpayment of tax.

Abaka alleged further that the action of the FIRS Officials scared away customers and investors who were already in the bank transacting business.

He emphasized that the bank has paid its tax up to date and wondered why a reputable government agency like the FIRS will act without consulting its tax record.


“We immediately went to FIRS office to salvage the situation which has already cost the company millions of Naira. We presented all our tax receipts for 2015, 2016 and 2017 which shows that the company is not in any way indebted in tax payment. The officer in charge promised to send officials to unseal the premises the next day (Friday) , but as at 9 a.m Friday, March 2, 2018, the premises is still under seal,” The chief financial officer explained.

Also, the Head Admin and Human Resources of the bank, Fumi Adetunji who corroborated the statement of the Chief Financial Officer said the FIRS supposed to have a standard procedure of enforcing compliance in line with the best practices. She insisted that the bank is not in any way owing tax, adding the action of the FIRS has put the reputation of the bank at stake.

The management of the bank therefore called on the FIRS to immediately unseal its premises.

As at the time of filling the report, staff and customers of the bank were seen outside the sealed premises looking stranded as their belongings were still inside the bank.

Documents sighted by our reporter revealed that in 2015 alone, Infinity Trust Mortgage Bank paid N40,000,000 as tax. The mortgage bank is rated from it’s recent stock exchange award as the leading mortgage bank in the country

The FIRS is yet to respond to the allegation.

We’ll Complete Federal Houses Under Construction Soon, Fashola Assures Nigerians

Katsina – Babatunde Fashola, the Minister of Works, Housing and Power on Friday said that the 78 federal government houses under construction in Katsina state had reached ’90 percent completion’ and assured speedy completion of others projects in the country.

The Minister, who disclosed this while inspecting the houses in the state, noted that the Federal Government awarded the contract of the 78 houses to 18 indigenous contractors.

According to Fashola, “30 houses were three bedrooms and another 30 houses were two bedrooms while 18 were one bedroom self continued. The project is Part 4 of the National Housing programme under construction in Katsina. Other projects will also be completed soon.”

Represented by Architect Joseph Toluwe, the officer in-charge of North West Zone Housing Project, said that 10 contractors had already completed and handed over the houses to federal government.

On his part, Engineer Busari Sikiru, the Director of Works in Charge of North West, reaffirmed that federal government had awarded contracts for the provision of houses in the 36 states of the federation, noting that federal government was committed to the provision of shelter to all the citizen of the country.


Earlier, the Katsina State Federal Controller of Housing, Town Planner, Ibrahim Musa, said that the federal government had given the provision of shelter high priority.

“Shelter is an important aspect of human life as it is second to food that sustained human life,” he said.

Completed Federal Houses In Katsina Handed Over To Nigerian Govt

The Federal Ministry of Works, Housing and Power says 10 out of 18 contractors handling the construction of 78 federal houses in Katsina had completed their job.

Mr Babatunde Fashola, the Minister of Works, Housing and Power stated this while inspecting the 78 houses being built under the National Housing programme on Friday in Katsina.


Fashola said that the jobs being handled by the other eight contractors had reached 90 per cent completion.

He said that out of the 78 houses, 30 houses were three-bedroom apartments, 30 were two-bedroom while 18 were a bed-room apartment.

Fashola, who was represented by Joseph Toluwe in-charge of North West Zone Housing Project, said that the completed houses had been handed over to the government.

Earlier, the Director of Works in-charge of North West, Busari Sikiru, said that similar houses were being built in the 36 states of the federation.

Sikuru said that the Federal Government was committed to the provision of shelter for all citizens.

The Federal Controller of Housing, Town Planning in Katsina State, Ibrahim Musa, said that shelter was an important aspect of human life as it was second to food.

The controller said that only two out of the 78 houses were yet to be painted.

The 12th Abuja International Housing Show CEO’s FORUM – Connecting Leaders in Mortgage Banking & Housing Finance

The Real Estate CEO’s Forum is a peer advisory group offering Mortgage Bankers & Housing Finance Professionals – who are CEOs, Founders, and/or business owners – the opportunity to process challenges facing their respective organizations. It is a collaborative and supportive environment for leaders in Nigeria’s Mortgage Banks.

As the CEO of an organization, you’re constantly making decisions that affect both your bank and your community. It’s an enviable position to be in, and it requires many skills, much experience, and a lot of perspective – and no one knows that better than other people in your position. It is for this reason that the organizers of Abuja International Housing Show are offering Real Estate Industry CEO’s the opportunity to benefit from the skills, experience, and perspective of their peers by registering and attending West Africa’s largest housing Expo holding on July 16 at the International Conference Centre, Abuja.


The Forum will provide participating CEO’s an environment that uniquely leverages the Abuja International Housing Show Network to gain essential knowledge and foster a supportive community – with the goal of facilitating growth and lasting success of member institutions and organizations.

In a time of unprecedented change and opportunity, Mortgage Bank CEOs in particular are eager for a competitive advantage. The challenges facing a CEO are unique and best understood by, and shared with, other CEOs. The Abujahousingshow CEO’s Forum leverages the collective experience and knowledge of fellow business leaders from across the country Network to share and develop tactics, strategies, and solutions specific to member organizations and the Real Estate Industry.

Agenda topics include
• Profitability strategies
• New products and opportunities
• People issues
• Lending and credit risk
• Improving sales and service
• Asset-liability and investment issues
• Technology
• Compensation
• Cost control
• And many more…

Securing of space is on first come first basis.


More Nigerians getting poorer under Buhari govt – IMF

The International Monetary Fund has said more Nigerians have gotten poorer under the President Muhammadu Buhari government despite the country’s slow recovery from recession.

In a report released yesterday, the IMF said Nigeria needs urgent economic reforms. It identified risks to growth, including additional delays to implementing policies and reforms ahead of the 2019 elections, security tensions, and oil prices, a fall in which could see capital flows reversed.


The IMF however said that though the outlook for growth had improved, it still remained challenging.

The Central Bank of Nigeria frequently injects hundreds of millions of dollars into the foreign exchange market to keep its own rates stable.

The IMF further singled out the central bank, saying it should discontinue direct interventions in the economy.

The IMF further repeated its call for Nigeria to simplify its complex foreign exchange system which has left large gaps between official rates and various windows that certain groups can use to get other rates.

“Moving towards a unified exchange rate should be pursued as soon as possible. The IMF does not support the exchange measures that have given rise to the exchange restrictions and multiple currency practices,” the report stated.

“Comprehensive and coherent” economic policies “remain urgent and must not be delayed by approaching elections and recovering oil prices,” it stated in its annual Article IV review of Nigeria’s economy.

“Further delays in policy action, including because of pre-election pressures, can only make the inevitable adjustment more difficult and costlier.

“Higher oil prices would support a recovery in 2018 but a ‘muddle-through’ outlook is projected for the medium term under current policies, with fiscal dominance and structural constraints leading to continuing falls in real GDP per capita,” the report added.


Ladies and Gentlemen,

We gather today to perform a formality. We gather to inaugurate the Governing Boards of the Federal Housing Authority (FHA) and the Federal Mortgage Bank of Nigeria (FMBN) as required by their enabling statutes and as approved by the President, Muhammadu Buhari, GCFR.

As simple and formal as this event is, it has profound consequences.

One consequence is that it offers opportunity to the Nigerians who we inaugurate today to participate in the decision-making process that affect the lives of millions of people, who will partake and benefit of the prosperity that a Housing economy offers.

It is an opportunity whose importance is not to be viewed lightly. This is the opportunity to participate by rendering service, and it is the hallmark of liberal democracy.

Every so often, many of us complain that things are not heading in the direction we like, but how many of us volunteer our time, our skills and our resources to affecting the course of events?

More importantly, how many of us accept to serve with titles that are not headline grabbing like President, Governor, Senator, and Local Government Chairman; and how many will accept to serve without a title?

I have said before that you do not need a title to serve, and if we all pause to look beyond in elective offices, and the big titles, we will see an enormous field of opportunities for service beckoning on men and women of goodwill to step forward and contribute to nation building.

This is the profound decision all of you have taken by accepting these appointments to serve in these two important institutions.

On behalf of President Buhari, the Government and People of Nigeria, I thank you for accepting and for the service you will render to our people.

As to what your roles will be, please let me implore you to quickly avail yourselves of a copy of the respective laws setting up your agencies, where your functions and powers are spelt out.

But if a guide is required, let me say that you will individually and collectively be the conscience of these agencies for implementing the policies of Government, with respect to public housing and mortgage financing in Nigeria.

Some of the programmes and projects of these Agencies will come to you for approvals, and it will be your duty to decide whether to approve or not.

In doing so, you will have to decide whether the proposals are consistent with Law, whether they advance public good, whether they will bring the greatest good to the greatest number of people.

As you undertake this responsibility, please permit me to remind you that it is men and women who build institutions and not the other way around.

Therefore, good institutions are the aggregate of good deeds of good men and women, while unsalutary institutions similarly represent the aggregate of the unsalutary deeds of men and women who, perhaps, were never worthy of the responsibility they were entrusted with.


Ladies and Gentlemen, since the FHA and FMBN were set up, they have experienced their fair share of challenges, while they have also become well-known brands within the country.

This is now your responsibility to reposition these brands and utilize them, by providing the guidance for the Managing Directors and Management teams of FHA and FMBN to enable them deliver service to Nigerians.

For the avoidance of doubt, let me state that the Policy of Government is to deliver Affordable Housing, acceptable to Nigerians and these agencies, whose brands you will now administer are the implementing arms of Government for: a) Housing delivery (FHA) and b) Housing Financing (FMBN).

The Managing Directors and their Management teams have the executive responsibility for carrying these out, subject to your Board oversight, approvals and advice, while the Ministry plays a supervisory role.

Therefore, we expect to see harmony, respect, teamwork and a healthy working co-operation between Board and Management.

On the part of the Ministry, I assure you that we will supervise but we will not interfere.

For your information, we are piloting a Housing Programme and currently constructing in 33 (Thirty-Three) States of Nigeria.

We do this to validate and test what type of housing design responds to Nigeria’s diverse cultural, climatic and religious needs, so as to ascertain what is acceptable and affordable.

We are at different stages of construction in different states, and we have commended these designs to FHA, without imposing them.

Our decision is informed by the evidence of previous housing initiatives that people did not take up and empty houses that still abound in almost every state of Nigeria.

These untaken houses, and the deficit of Housing, suggests to us that the untaken houses are either unacceptable or unaffordable or both.

We see housing as a product, and we take the view that before they can be delivered to market, we must know what the people want and what they can afford.

When our pilot is fully completed, these answers will become self-evident and this is when we can mass produce.

There is certainly nothing that stops FHA from undertaking other designs of housing if she can find a market for it, and she can deploy the income to cross-subsidize and make mass housing more affordable.

As for the financing side, this is critical to affordability and it is as much the function of FHA in cost management and delivery as it is that of FMBN in delivering mortgages of affordable tenures and costs. Since May 2015 to date FMBN has issued 2,724 mortgages worth N20.237BN to assist Nigerians buy their own homes; under the National Housing Fund.

Ladies and Gentlemen, once again, let me thank you for accepting to serve. The tenure and condition of service are contained in the letters of appointment that have been issued to you.

It is my honour and pleasure on behalf of Mr. President and the Federal Government of Nigeria to Inaugurate the Boards of the FMBN and FHA.

Please accept my best wishes for a successful tenure of service.

Babatunde Raji Fashola, SAN

Honourable Minister of Power, Works and Housing

FCTA To Revoke, Reallocate Undeveloped Plots In Jabi

The Federal Capital Territory administration (FCTA) has again warned owners of undeveloped plots in Jabi district to commence their development or face revocation of such plots. Speaking when he removed illegal mechanic workshops, food joints and road blocks around the popular Jabi Motor Park, coordinator of Abuja Metropolitan Management Council (AMMC), Umar Shuaibu, added that any plot revoked by the council would be reallocated to those with the capacity to develop them. Shuaibu noted that the area was notorious for being a den for hoodlums and street hawkers, who indulge in drug peddling, crimes and illegal mechanic work, thereby causing discomfort and nuisance to those living around the area.


Represented by director, Department of Advertising and Signage (DOAS), Yusuf Ibrahim Yakassai, the coordinator advised affected persons to find lawful places for their business activities, instead of constituting nuisance in the society. He maintained that the removal exercise was a continuous one, adding that the administration would find a way of preventing reoccurrence of such illegality in the area and in every other part of the territory. Housing News gathered that the team was made up of development control department, Abuja Environmental Protection Board (AEPB), Parks and Recreation, including security operatives, drawn from the Army, police, the civil defence, immigration and NDLEA.


The Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola on Wednesday, the 1st of March, 2018 inaugurated two new Boards of Directors comprising The Federal Housing Authority (FHA) and The Federal Mortgage Bank of Nigeria (FMBN).

In his inaugural speech, the Minister of Power, Works and Housing said the vision of the ministry to provide affordable housing for Nigerians had to be achieved. He also stated that the formalities of the Inauguration had consequences as it affected the lives of millions of Nigerians. He said the functions and roles are spelt out for the Board but that he will provide a guide for implementing rules. He charged the respective Boards of Directors to be guided by the laws of the Country in the formulation of their plans and programme, asking them to bear in mind that the welfare of the people is paramount in its development agenda.
“Good institutions are the aggregates of good deeds of good men and good women,” He emphasized.
He asked the Boards of Directors to reposition and manage the brand as the policy of the government is to deliver affordable housing.

He charged the FMBN Board of Directors to help provide finance and housing acquisition and also charged the FHA Board of Directors to know what Nigerians wanted and offer them what they want. He said that there is nothing wrong in working on other house designs and that it will be helpful if FHA can make housing affordable, as people do not take up many houses as they are sometimes unaffordable. He told them that he expected to see teamwork and asked them to take good decisions on behalf of millions of Nigerians, and also follow the law and refuse any decision that does not go with the law.
Mr. Babatunde Raji Fashola, admitted that the ministry is presently piloting an affordable housing programme in thirty three (33) States of the Country.
The Chairman of the Board of Directors of the Federal Housing Authority (FHA), Sen. Lawal Shuaibu thanked the President Muhammadu Buhari and the Minister for delivering on their promises on housing. He said he is ready to serve and bring the best of service to work. He also said the issue of National Housing Policy will be seen to. He assured the Honourable Minister that the policies will be fully implemented.
The Chairman of the Federal Mortgage Bank of Nigeria (FMBN), Mr. Adewale Adeeyo also thanked the President and assured him that he will make sure there will be teamwork and that both the FHA and FMBN will work together to ensure that there will no troubles. He promised that there will be affordable housing with affordable interest rates.

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