……………..Framework for Real Estate Regulatory Authority Underway – Dangiwa
A Retreat for the stakeholders in the Housing Sector organised by the Federal Ministry of Housing and Urban Development has been held in Lagos, Wednesday, 19th February, 2025.
Themed “Actualizing the Renewed Hope Agenda for Housing and Urban Development: Examining Strategies, Identifying Opportunities to Boost Scale and Impact”, the retreat brought together key stakeholders, including heads of departments, and agencies, to review progress and forge strategic collaborations.
In his keynote address, Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, announced the Ministry’s commitment to establishing a framework for a Real Estate Regulatory Authority, acknowledging the crucial need for improved regulation within the sector.
He said “The creation of a Real Estate Regulatory Authority is expected to bring greater transparency, accountability, and professionalism to the sector, fostering greater investor confidence and ultimately contributing to the overall growth of the Nigerian economy”.
The Minister explained that the ministry is working to create a framework for the establishment of a Real Estate Regulatory Authority, emphasizing that the Ministry will work closely with the National Assembly and stakeholders to ensure the successful establishment of the Authority.
He also commended Chairman of the House of Representatives Committee on Housing and Habitat, Hon Abdulmumini Jibrin for his continued advocacy in support of real estate regulation.
In a significant boost to the housing sector, Arc. Dangiwa announced that the National Assembly has secured an additional N50 billion for the Ministry’s 2025 budget. This increase follows an initial budget reduction proposed by the Budget Office.
He noted that the additional funding will lead to creation of more jobs while the ministry is able to clear inherited liabilities and impact positively on the economy.
Arc Dangiwa noted that though the housing sector has suffered neglect in the past, the ministry is determined to make a difference under the Renewed Hope Agenda of President Bola Ahmed Tinubu, reiterating his commitment to work closely with the National Assembly and stakeholders.
“We are determined to make a difference. We are optimistic and encouraged by the possibilities that the future holds, rather than the failures of the past. Just because programs failed in the past does not mean they will fail today,” he affirmed.
The Minister added, “We aim to review what we have done so far towards 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.”
On the milestone recorded by the Ministry, the Minister noted that within 19 months the Ministry has established 14 active construction sites for 10,112 housing units, with many nearing completion.
Other achievements according to the Minister includes the National Land Registration and Titling Programme in collaboration with the World Bank, informing that the Bank is coming for the second technical session in March, 2025.
Reforms in land administration to simplify property ownership; Strengthening Federal Mortgage Bank of Nigeria (FMBN) and Federal Housing Authority ( FHA), were among other achievements listed by the Minister.
Earlier in his goodwill message, Chairman, Senate Committee on Lands, Housing and Urban Development, His Excellency, Senator Aminu Waziri Tambuwal, called for increased funding for housing projects, assuring continued legislative support.
He also highlighted efforts to ensure the recapitalization of the Federal Mortgage Bank of Nigeria and repositioning of Federal Housing Authority through adequate budgetary allocation.
“The 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,” he disclosed.
Similarly, Chairman, House Committee on Regional Planning and Urban Development, Hon Abiante Awaji, advocated for a multi- sectoral approach to solving challenges in the built environment, including the reintroduction of technical education for skill development in collaboration with the Ministry of Education.
He gave assurance that the National Assembly will continue to partner with the Ministry, its Agencies and stakeholders in the housing sector to ensure housing initiatives aligns with the Renewed Hope Agenda of the present administration.
In his welcome address, Permanent Secretary, Ministry of Housing and Urban Development, Dr. Shuaib Belgore, announced that Performance Contracts between the Minister and Chief Executives of the Ministry’s agencies will be signed during the retreat to promote accountability, efficiency, result- driven governance.
“This signifies a strong commitment to accountability, efficiency and results-driven governance in line with the Performance Management System (PMS) policy and guidelines of the Office of the Head of the Civil Service of the Federation (OHCSF),” the Permanent Secretary said.
Signed
Salisu Badamasi Haiba
Director Press and Public Relations
