The Nigerian Government revealed that President Bola Tinubu plans to create new cities in West Africa’s largest economy.
This was revealed in a statement by Minister of Housing, Arc Ahmed Musa Dangiwa in a meeting with the leadership of the Nigeria Institute of Builders, NIOB.
The Minister said the President sees the building as a tool to boost urban development.
Economic Growth
The Minister noted that housing development is a catalyst for economic growth, and poverty reduction Housing and urban development minister.
He added that President Bola Ahmed Tinubu is desirous to create new cities and provide liveable houses for Nigerians. Arc Dangiwa spoke when the leadership of the Nigeria Institute of Builders, NIOB, paid him a courtesy visit to his office.
- ” 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. he said
- “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”
National Building Code
Meanwhile, the Minister noted that FG is planning a few amendments to the National Building Code which he said needed to be done, in collaboration with the NIOB and other professional bodies to study it and bring out grey areas that would require some adjustments, adding:
- “The challenges being faced by the housing sector include; rapid urbanization, Land Use reform, housing deficit, housing quality and standard, pointing out that Builders are in the best position to advise the Ministry on finding solutions to them.
He added that the NIOB will be invited to be among the drivers of the housing sector reform committee which President Tinubu mandated the Ministry of Housing to form in order to reform the entire housing sector to function effectively.
Mortgage Bank Recapitalisation
Also, Nigeria’s Federal Mortgage Bank of Nigeria would also be recapitalized to enable it to function effectively to deliver its mandate to Nigerians, he added.
President of Nigerian Institute of Builders, Bldr. Alderton Ewa Ewa, also urged that this could lead to actualizing President Tinubu’s Renewed Hope Agenda in the housing sector.
- “The suggestions include amongst others; the minister should seek release of land for housing development in all states of the federation; encourage Federal Mortgage Bank to give loans to real estate developers at affordable interest, and create an avenue for professional bodies in the built environment to meet and chart a course for successful building production in the country.”
