Abuja, August 16, 2023 – In a move aimed at bolstering the nation’s commitment to transformative housing and urban development initiatives, President Bola Ahmed Tinubu, GCFR, has appointed Arc. Ahmed Musa Dangiwa as the Hon. Minister for Housing and Urban Development. This announcement follows Arc. Dangiwa’s nomination and successful screening by the Nigerian Senate on August 1, 2023.
Admired for his gentlemanly demeanor, proven administrative competence, and accomplished background as a technocrat, Arc. Dangiwa’s inclusion in the Tinubu cabinet brings to the forefront over three decades of experience spanning the real estate, mortgage financing, housing development, academia, and the public and private sectors.
Having distinguished himself as the MD/CEO of the Federal Mortgage Bank of Nigeria (FMBN), Arc. Dangiwa spearheaded historic reforms that revitalized the apex mortgage bank. During his five-year tenure from April 2017 to April 2022, his strategic leadership drove the FMBN to achieve unparalleled results, earning commendation for its enhanced transparency, profitability, efficiency, and innovation as a social housing delivery institution.
Under his guidance, the FMBN achieved significant milestones, including:
- Mobilization of N279Billion in additional contributions to the National Housing Fund (NHF) Scheme. As of April 2017, when Arc. Dangiwa assumed management of the Bank, only N232Billion had accrued to the NHF Scheme over a 25-year period (at about N9.28billion per annum). This is a major reason why FMBN failed to create much impact and reduce the huge housing deficit. Within five years, Arc. Dangiwa led his team to mobilize N279Billion in additional contributions to the NHF scheme at an average of 8Billion per annum. He was able to do this by ensuring transparency and accountability in the management of the NHF scheme, engaging state governments to resume contributions to the NHF scheme and building strategic partnerships with labor centers such as the Nigeria Labor Congress (NLC), Trade Union Congress (TUC) and the Nigeria Employers Consultative Association (NECA).
- Record disbursement of N175billion affordable housing loans and construction Finance. As a result of the increased financial inflows from the NHF Scheme and in line with the goal of reducing the high housing deficit, Arc. Dangiwa led FMBN to deploy N175Billion towards the provision of affordable single-digit home loans to NHF subscribers and for the construction of quality houses in collaboration with reputable developers nationwide.
- Historic Increase in Processing of N39.5Billion in refunds to 247,521 retired NHF Contributors. The NHF scheme provides for contributors to be paid back their monies after retirement at a 1% interest rate. As of April 2017, when Arc. Dangiwa came on board, FMBN had only refunded 8Billion to 132,605 retired contributors. He met a huge backlog of untreated applications for refund.
Within five years, he was able to ensure speedy processing of refunds totaling N39.5Billion to 247,521 retired NHF contributors. The amount is three times the N10.8Billion recorded by previous managements over a 25-year period.
- Initiation and Kickoff of the N40billion FMBN Mega Cities Project. Dangiwa conceived and began implementation of the N40billion FMBN Mega Cities project under the FG National Economic Sustainability Program (NESP) to deliver 5,000 housing units. 1, 250 houses have been delivered by Brains and Hammers at Bungalow City Kubwa Abuja.
- Historic Drive to Enhance Affordability of FMBN Housing Products for the Ordinary Nigeria. In line with President Muhammadu Buhari’s directive, Arc. Dangiwa championed several initiatives that have made FMBN affordable housing products more affordable.
This includes the following:
- Downward review of equity requirements for FMBN housing loans: As of April 2017, when Arc. Dangiwa assumed office at FMBN, equity requirements for accessing FMBN housing products were as high as 30%. Heled efforts that led to the reduction to 10% for loans above N5m, and 0% for those below N5m while retaining single digit interest rate regime for personal loans and thereby promoting inclusiveness.
- Development of Innovative Housing Products to Expand Affordability: Dangiwa led efforts to create innovative housing products that expanded access to affordable housing to Nigerians. This includes the rent to own, which allows NHF contributors to move into FMBN funded houses and pay towards homeownership in monthly, quarterly, or annual instalments and the individual construction loan, which allows Nigerians with legal title deeds to get loans of up to N15million to build their own homes with payment tenors of up to 30-years.
- Dangiwa also led efforts to develop the Diaspora Mortgage loan to help Nigerians living abroad own their homes without being duped by relatives or friends in Nigeria. He also developed the Non-Interest Rent-to-Own (Ethical RTO) scheme to cater for the needs of many Nigerians yearning for non-interest housing product.
- Development of a Five-Year Strategy Plan for FMBN: In recognition of the need to chart a reliable path for effective repositioning of the Bank, Arc. Dangiwa spearheaded the development of a 5-year Strategy Plan in collaboration with Messrs. KPMG. The Strategy document is expected to run from 2020 – 2024.
The plan aims to deliver 100,000 housing units annually, grow NHF annual collections from N50 billion to over N300 billion, expand the NHF customer base by 25 million new contributors drawn mostly from the informal sector to 31m.
- Straightening Backlog of FMBN Financial Accounts: As of April 2017, when Arc. Dangiwa assumed leadership of FMBN, he met a huge backlog of unaudited financial statements dating as far back as 2013. He quickly set up a Taskforce on Financial Accounts to clear the backlog. From 2017 to date, FMBN audited financial statements (AFS) for the Years 2013 – 2019 have been presented and cleared by the Board. The CBN has approved all the audited Financial Statements up to 2015. 2020 draft accounts were presented and approved by the Board and awaiting external auditor’s final conclusion while preparation of 2021 accounts commenced before his exit.
- Digital Transformation Roadmap for FMBN: Arc. Dangiwa led a digital transformation plan for FMBN that increased transparency and accountability in the management of NHF operations. He launched FMBN Mobile Platforms that enhanced NHF contributors’ access to their accounts using *219# USSD and other online platforms. His efforts to ensure the migration of the FMBN’s manual business operations to digital received a boost in December 2021 with the Federal Executive Council (FEC) approval for FMBN to procure and deploy a Core Banking Application for the bank.
Arc. Ahmed Musa Dangiwa’s remarkable track record extended beyond the FMBN, including a dedicated political engagement that saw him lead the Tinubu/Dikko Campaign Council, APC, Katsina State, during the 2023 General Elections. His leadership contributed significantly to APC’s resounding victories across various electoral positions, showcasing his ability to galvanize support and deliver results.
In the academic realm, Arc. Dangiwa’s impact was felt through his role at the Katsina State Polytechnic and his status as a fellow of numerous esteemed professional organizations. His academic journey includes a master’s degree in architecture and business administration, alongside leadership training from prominent institutions like the Wharton School of the University of Pennsylvania.
As Hon. Minister for Housing and Urban Development, Arc. Ahmed Musa Dangiwa’s appointment is poised to infuse the Tinubu cabinet with his extensive experience, visionary leadership, and unwavering commitment to advancing Nigeria’s housing and urban development agenda. His achievements, expertise, and dedication are expected to play a pivotal role in fulfilling President Tinubu’s vision of a prosperous Nigeria that benefits all its citizens.
