By Comfort Olayinka
The Chairman of the House of Representatives Committee on Housing, Hon Jibrin Abdulmumin, has reiterated his commitment to improving housing access for Nigerians.
Speaking at a meeting with key stakeholders in the housing sector at the National Assembly Complex in Abuja, Abdulmumin outlined several initiatives aimed at addressing critical housing issues, including the MOFI Real Estate Investment Fund and the Renewed Hope Housing Project.
Abdulmumin emphasized the importance of tackling housing finance, a crucial area for ensuring affordable housing across the country.
He revealed that the Committee has instructed the Central Bank of Nigeria to immediately halt the application of the single obligor limit to primary mortgage banks concerning the National Housing Fund, citing its negative implications.
The lawmaker assured that the Committee would leverage every legislative tool at its disposal to create a better housing landscape for Nigerians.
Dr. Takang Armstrong, Managing Director of MOFI, echoed this sentiment, emphasizing that housing is a fundamental right and a key economic driver for Nigeria. He highlighted the role of MOFI in mobilizing capital from both the public and private sectors to address the housing sector’s needs.
The Minister of Housing and Urban Development, Arc Ahmed Dangiwa, also thanked President Bola Tinubu for prioritizing housing, noting that the renewed hope agenda marks a new chapter for the housing and urban development sector.
We are committed to ensuring that Nigerians get better housing, regardless of what their social status is, and regardless of how much money they make.
“For us as Mofi, Ministry of Finance Incorporated, our main role is to serve as the investment and the asset manager for the federal government of Nigeria. And one of the key things we have a responsibility for is to mobilize capital, not only within the government, but from the private sector and the international community to address priority sectors of our economy.
“Housing is one of those. When we think about housing, it’s not just about the social impact it has in terms of housing our people, but it’s a major stimulant for the economy.”
The collaborative efforts between government agencies, the private sector, and stakeholders are expected to bring tangible solutions to Nigeria’s housing challenges in the coming years.
