The Nigerian Minister of Housing and Urban Development, Ahmed Musa Dangiwa has reaffirmed the ministry’s commitment to establishing a framework for a Real Estate Regulatory Authority, emphasizing the need for improved regulation in the sector.
The Minister stated this during a retreat for stakeholders in the housing sector, organized by the Federal Ministry of Housing and Urban Development, was held in Lagos south west Nigeria.
The retreat, Themed “Actualizing the Renewed Hope Agenda for Housing and Urban Development: Examining Strategies, Identifying Opportunities to Boost Scale and Impact,” brought together key stakeholders, including heads of departments and agencies, to review progress and foster strategic collaboration.
“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,” he stated.
He further explained that the ministry is working closely with the National Assembly and stakeholders to ensure the successful establishment of the authority.
Dangiwa also commended the Chairman of the House of Representatives Committee on Housing and Habitat, Hon. Abdulmumini Jibrin, for his continued advocacy for real estate regulation.
In a significant boost to the housing sector, the minister announced that the National Assembly had secured an additional N50 billion for the ministry’s 2025 budget. This increase followed an initial budget reduction proposed by the Budget Office.
He noted that the additional funding would create more jobs, enable the ministry to clear inherited liabilities, and positively impact the economy.
While acknowledging past challenges in the housing sector, Dangiwa reiterated his determination to drive change under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
“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 further emphasized the retreat’s purpose: “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.”
Highlighting the ministry’s recent milestones, Dangiwa revealed that within 19 months, the ministry had established 14 active construction sites for 10,112 housing units, with many nearing completion. Other achievements include the National Land Registration and Titling Programme in collaboration with the World Bank, with a second technical session scheduled for March 2025.
Additional reforms in land administration, efforts to simplify property ownership, and strengthening institutions like the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) were also highlighted.
In his goodwill message, Chairman of the Senate Committee on Lands, Housing, and Urban Development, Senator Aminu Waziri Tambuwal, called for increased funding for housing projects and assured continued legislative support.
He also emphasized efforts to recapitalize the FMBN and reposition the FHA 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 of the House Committee on Regional Planning and Urban Development, Hon. Abiante Awaji, advocated for a multi-sectoral approach to tackling challenges in the built environment, including the reintroduction of technical education for skill development in collaboration with the Ministry of Education.
He assured that the National Assembly would continue partnering with the ministry, its agencies, and stakeholders to align housing initiatives with the Renewed Hope Agenda.
While speaking, the Permanent Secretary of the Ministry, Dr. Shuaib Belgore, announced that performance contracts between the minister and chief executives of the ministry’s agencies would be signed during the retreat to promote accountability, efficiency, and results-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),” Belgore stated.
Oyenike Oyeniyi
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