The Federal Ministry of Housing and Urban Development held a retreat for stakeholders in the housing sector in Lagos.
Under the theme “Actualizing the Renewed Hope Agenda for Housing and Urban Development: Examining Strategies, Identifying Opportunities to Boost Scale and Impact,” the event gathered key participants, including department heads and agency representatives, to assess progress and explore strategic partnerships.
In his keynote address, Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, reaffirmed the Ministry’s dedication to creating a framework for a Real Estate Regulatory Authority, highlighting the urgent need for enhanced regulation in the sector.
He stated, “The establishment of a Real Estate Regulatory Authority is anticipated to enhance transparency, accountability, and professionalism within the sector, thereby boosting investor confidence and ultimately aiding the overall growth of the Nigerian economy.”
The Minister elaborated that the ministry is in the process of developing a framework for the creation of the Real Estate Regulatory Authority, highlighting the importance of collaboration with the National Assembly and stakeholders to ensure the Authority’s successful implementation.
He also praised Hon. Abdulmumini Jibrin, Chairman of the House of Representatives Committee on Housing and Habitat, for his ongoing advocacy in favor of real estate regulation.
In a significant advancement for the housing sector, Arc. Dangiwa revealed that the National Assembly has secured an additional N50 billion for the Ministry’s 2025 budget. This increase comes after an initial budget cut proposed by the Budget Office.
He emphasized that the additional funding will create more jobs, allowing the ministry to address inherited liabilities and positively influence the economy.
Arc Dangiwa acknowledged that the housing sector has been overlooked in the past, but the ministry is committed to making a significant impact under President Bola Ahmed Tinubu’s Renewed Hope Agenda. He reiterated his dedication to collaborating closely with the National Assembly and other stakeholders.
“We are resolute in our mission to effect change. We are hopeful and inspired by the potential that lies ahead, rather than dwelling on past failures. Just because previous programs did not succeed does not mean that current initiatives will follow suit,” he stated.
The Minister further remarked, “Our goal is to assess our progress in realizing Mr. President’s Renewed Hope Agenda for Housing and Urban Development, evaluate our challenges and achievements, identify new opportunities, and establish a clear strategy to accelerate our efforts.”
During a recent milestone announcement by the Ministry, the Minister highlighted that in just 19 months, the Ministry has launched 14 active construction sites, resulting in the development of 10,112 housing units, many of which are approaching completion.
The Minister also mentioned other accomplishments, including the National Land Registration and Titling Programme in partnership with the World Bank, noting that the Bank is scheduled to hold its second technical session in March 2025.
Additional achievements cited by the Minister include reforms in land administration aimed at simplifying property ownership, as well as efforts to strengthen the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA).
In a goodwill message, His Excellency, Senator Aminu Waziri Tambuwal, Chairman of the Senate Committee on Lands, Housing and Urban Development, emphasized the need for increased funding for housing projects and assured ongoing legislative support. He also underscored the importance of recapitalizing the Federal Mortgage Bank of Nigeria and repositioning the Federal Housing Authority.
