The Managing Director of Federal Mortgage of Nigeria (FMBN) Ahmed Dangiwa has enjoined stakeholders to join the Bank in creating initiatives that will promote housing affordability for Nigerians.
Dangiwa stated this in a paper he presented at the 2017 housing summit titled “Real estate investments and mortgage financing in Nigeria: problems and prospects” organized by Media Options Communications limited held recently in Abuja.
He called for a framework to be developed for greater utilization of pension funds in housing finance as well as government at all levels to live up to responsibility of providing primary infrastructures for estate development.
The FMBN boss said that all legal and institutional impediments to the development of the real estate sector must be addressed by government in collaboration with the National Assembly.
He said, “I am happy that the National Assembly is an active promoter of this event. It has the most critical role to play in putting a robust legal framework which is the foundation we need especially through the review of extant laws that have become archaic and out of tune with present –day reality and have largely become impediments to housing finance. The government must also sustain its efforts at promoting and encouraging the development of the sector,” he said.
He called for special intervention fund to ease access to housing construction finance by the operators in the sector as done by CBN in other sectors.
Originally published in Daily Trust