Nigeria’s federal government has revealed plans to build new towns in West Africa’s largest economy. President Bola Tinubu’s idea was revealed by the Minister of Housing, Ahmed Musa Dangiwa, during a meeting with the leadership of the Nigeria Institute of Builders, NIOB.
In a statement, the Minister stated that the President views the construction as a tool to assist urban development, stressing that housing development is a stimulant for economic growth and poverty alleviation.
President Tinubu, according to Dangiwa, wants to build new towns and offer decent housing for Nigerians. Arc Dangiwa said during a courtesy visit to his office by the leadership of the Nigeria Institute of Builders, NIOB.
The Minister said, “The administration of President Tinubu was desirous of creating cities nationwide so there would be a need for collaboration with state governments for the acquisition of land in order to achieve that plan.
“Accordingly, the Minister explained that the construction and development of housing is a catalyst for economic growth and poverty reduction in Nigeria.
“President Tinubu was poised at growing the economy in a way that would lift about 100 million Nigerians out of poverty and the surest way to do that would be constructing affordable but liveable houses for Nigerians.”
Meanwhile, Dangiwa stated that the FG is preparing a few revisions to the National Building Code, which he stated was necessary, in partnership with the NIOB and other professional groups to analyze it and identify grey areas that would necessitate some adjustments.
“The challenges facing the housing sector include rapid urbanization, Land Use Reform, housing deficit, housing quality, and standard,” he said, adding that “Builders are in the best position to advise the Ministry on finding solutions to these challenges.”
The Minister went on to say that the NIOB will be one of the driving forces behind the housing sector reform committee, which President Tinubu has charged the Ministry of Housing with forming in order to restructure the whole housing sector so that it can function efficiently.
He also stated that the Federal Mortgage Bank of Nigeria would be recapitalized in order for it to function efficiently and deliver on its promise to Nigerians.
In his remarks, NIOB President Alderton Ewa Ewa suggested that this may contribute to the implementation of President Tinubu’s Renewed Hope Agenda in the housing sector.
“The suggestions include, among other things, the minister seeking land release for housing development in all states of the federation; encouraging Federal Mortgage Bank to give loans to real estate developers at affordable interest rates; and creating an avenue for professional bodies in the built environment to meet and chart a course for successful building production in the country,” Ewa said.
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