The Ministry of Housing and Urban Development and the International Finance Corporation, IFC, have agreed to expand their collaboration in order to ensure the successful implementation of Nigeria’s Renewed Hope Action Plan for Housing and Urban Development.
An IFC delegation led by Regional Director Dr. Dahlia Khalifa – Regional Director, Central Africa, and Anglophone West Africa stated this During a courtesy visit to the Minister in Abuja.
The Minister of Housing and Urban Development, Ahmed Dangiwa, who was represented by the Minister of State, Alhaji Abdullahi Gwarzo, emphasized the importance of the IFC in providing funding for infrastructure projects.
He noted that Nigeria was yet to maximise its partnership with the body, especially in the area of housing and urban development.
He aaded that the focus and priorities of the new government require an enhanced and expanded partnership with the IFC.
The Minister reeled out the action plan of the ministry to include strengthening the institutional capacity of agencies under its supervision including the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), increasing the supply of decent and affordable housing, establishing a National Social Housing Fund (NSHF), and implementing land reforms to enhance easy and cost-effective access to land.
Others include establishing Building Materials Manufacturing Hubs across the country, implementing a Nationwide Urban Renewal and Slum Upgrading programme, as well as developing new Cities that are integrated, and inclusive using a demand-driven strategy that will ensure prompt offtake of units built.
The Senior Country Manager of the IFC, Kalim Shah stated that “housing is a major focus of the IFC across Africa where they service both the supply and demand sides of the industry.
He added that the purpose of the visit was to understand what the ministry is doing and see how the group can partner and support their efforts to enhance the delivery of affordable housing to Nigerians.”
The Minister reiterated his ministry’s commitment to creating an enabling environment for the private sector to thrive.
Dagiwa further assured the Corporation of the ministry’s commitment to transparency and accountability in their dealings.
He said; “Our sole goal is to deliver on Mr. President’s objective of providing decent and quality accommodation to all Nigerians, especially the 80 percent falling within the medium and low segments. We aim to build livable communities and leverage the housing sector to lift 100 million Nigerians out of poverty.”
Also speaking, Senior Investment Officer, Public-Private Partnership of IFC, Alexander Leigh said the corporation would be looking to engage more with the ministry in a bid to identify the specific needs that they have so that they can provide solutions that are tailored to such needs.
He added that the IFC considers factors like access to land and its administration, construction costs, the situation of beneficiaries to occupy the houses, and affordability in its dealings with countries, expressing optimism in the ministry’s efforts to address the issues.
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