Senator Aminu Waziri Tambuwal, Chairman, Senate Committee on Lands, Housing and Urban Development has urged the Federal Government to create affordable mortgages by funding FMBN robustly.He said he finds it difficult and absurd thatFederal Government is funding the Ministry of Finance Incorporated (MOFI) with over N150 billion,while they are yet to pay their Federal Mortgage Bank of Nigeria (FMBN), Capital share. He spoke at a Retreat on Actualising the Renewed Hope Agenda for Housing and Urban Development: Examining Strategies , Identifying Opportunities to Boost Scale and Impact organised by the Federal Ministry of Housing & Urban Development yesterday in Lagos.He said his Committee is interested in ensuring affordable housing for millions of Nigerian’s and closing the over 20 million housing gap. ” Our Committee is also making efforts to reinstate the Federal Housing Authority(FHA), in the Federal budget,allowing it to replicate past successes such as FESTAC Town and Gwarimpa Estate. Similarly,we are committed to supporting the Federal Mortgage Bank of Nigeria (FMBN)in its recapitalization efforts to enhance its capacity to deliver affordable housingto Nigerians and reduce the national housing deficit”.He called for the adoption of innovative strategies to unlock opportunities for affordable housing by expanding private sector participationHe reaffirmed the commitment of NASS to supporting policies and legislative frameworks that will drive efficiency in the sector.’The Senate and by extension,the entire National Assembly will continue to collaborate with the Ministry,its agencies,and other stakeholders to ensure that housinginitiatives align with the Renewed Hope Agenda of the present administrationand international best practices’.’A key part of achieving this agenda is the funding of priority projects toenable the Ministry to discharge its mandate effectively.This includes initiatives such as the Renewed Hope City and Estates Programme,the National Housing Programme,the construction and rehabilitation of FederalSecretariats,and the settlement of outstanding liabilities to local contractors,among others’He pledged his Committee readiness to expedite action on legal amendments to ensure their swift passage into law.’We reiterate our unwavering commitment as a Committee of the NationalAssembly to supporting initiatives that will enable the Ministry of Housing and Urban Development,the Federal Housing Authority(FHA) and the Federal Mortgage Bank of Nigeria(FMBN)to function effectively and deliver on the Renewed Hope Agenda’.Earlier, the Minister of Housing and Urban Development, Ahmed Dangiwa in a keynote said his ministry engaged with the National Assembly Committees that intervened to increase their budget by an additional N50 billion. He said: ‘What they have done is not for us as individuals but for the many Nigerians who will benefit from the Ministry’s interventions, the additional jobs that will be created, the businesses and individuals that will be empowered through our increased capacity to offset inherited liabilities, and the positive impact on the economy.Dangiwa made a strong case for an additional N360 billion to enable the ministry expand the coverage and spread of Mr. President’s Renewed Hope Estates to 18 more states and to expand their urban renewal program to cover over 100 more sites and take care of liabilities alongside others.He said: ” What I have been advocating for, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu, is that as a country and a government, we must prioritize housing as a catalyst for economic growth. Investment in housing and urban development is not only a moral necessity but also an economic imperative”. “When we provide people with decent homes and build livable communities, we are not only improving their quality of life, making them proud and patriotic Nigerians, but we are also developing the economy and ensuring national security”.Further more the minister said they deliberately chose “Actualizing the Renewed Hope Agenda for Housing and Urban Development” as the theme of this Retreat, to review what they have done so far toward actualizing Mr. President’s Renewed Hope Agenda for Housing and Urban Development, interrogate our challenges and successes, explore opportunities, and set out a clear pathway to ramp up the tempo of our activities.
