The Hon Minister for Housing and Urban Development, Arc. Ahmed Musa Dangiwa, has charged the management of the Federal Reserve Bank of Nigeria (FMBN) and the Housing Authority (FHA) to be more creative and innovative in delivering their ministerial mandate.
Dangiwa, during the public performance review meetings with the corporate management teams; the Federal Reserve Bank of Nigeria (FMBN) and the Housing Authority (FHA).
The performance review meeting focused on improving performance in the discharge of the Ministry’s mandate in relation to the delivery of performance contracts.
During the review meeting, the management of FMBN and FHA presented to the Ministry their input on the reform of the functioning of the Office of the President of the Federation and will sign the operating agreement with the Minister.
Minister Dangiwa reminded the two bodies set up by President Bola Ahmed Tinubu earlier this year of the mandate he gave them to be creative, innovative and change things to improve their performance.
FHA was tasked with coming up with new ideas and financing avenues that could help them build millions of houses in the next fifty years, up from the 50,000 houses they have completed in the last fifty years.
Similarly, FHA was tasked with going to the capital market, issuing loans and raising funds for the delivery of public housing projects and sale of houses across the country, after the disbursement of loans and declaration of interest. He warned that lack of funds would not be an excuse for FHA not to comply with the ministry’s actions. He advised them to visit FMBN and leverage on inter-agency collaboration to secure construction loans.
On FMBN, the Minister reminded the group that he emphasized innovation and change, saying that the bank must lead the new era in housing construction and housing supply, regardless of the difficult situation such as construction costs and low incomes; “This requires a new mindset that thinks outside the box and recognizes the opportunities these challenges present,” he said.
On FMBN’s ongoing projects, Dangiwa warned that the ministry will not tolerate abandoned and unfinished projects while seeking new approvals.
“Please know that we will not allow you to undertake any more projects until you complete your current projects.”
