The Minister for Housing and Urban Development, Ahmed Musa Dangiwa says he will prioritize the N500 billion recapitalization of the Federal Mortgage Bank of Nigeria (FMBN), to enable the bank offer more affordable mortgage loans and foster homeownership.

The Minister on assumption of office pledged to realize President Bola Ahmed Tinubu’s bold vision for housing and urban renewal.

Addressing top ministry officials, heads of agencies, and staff, Mr Ahmed Dangiwa, an Architect underscored the important role of the ministry to ensuring that all Nigerians have access to decent, quality, and affordable housing while fostering liveable communities.

He said he planned to work closely with the national assembly to review relevant laws to streamline land and housing administration.

To execute this mandate effectively, the Minister said he would prioritise creating an enabling environment to encourage increased private sector participation and investment, along with the formulation of policies that empower agencies supervised by the ministry to optimize their performance.

Acknowledging the challenges arising from rapid population growth and increasing housing demands, Mr Dangiwa pledged to seize the challenges as opportunities for growth and progress.

The minister also revealed plans to accelerate the reform of the FMBN and the Federal Housing Authority (FHA) so they can have the necessary capacity, and the technological edge to deliver world class services to Nigerians.

He further pledged to embrace innovative financing solutions for housing construction and to collaborate with relevant institutions to secure funding for large-scale affordable housing projects nationwide.