Housing Minister challenges FHA to raise funds from capital market

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Minister of Housing and Urban Development, Ahmed Dangiwa, has urged the Federal Housing Authority (FHA) to step up its housing delivery efforts by raising funds from the capital market and issuing bonds.

Speaking at the FHA’s 50th anniversary celebration, Dangiwa expressed disappointment with the agency’s current pace of delivering 1,000 homes per year, stating that it was unacceptable given the country’s housing deficit.

“The FHA has the advantage of operating across all income segments and must take advantage of its unique position to deliver more value to government and Nigerians,” Dangiwa said.

He called on the FHA to emulate agencies in other countries, such as Algeria’s housing agency, which delivers between 400,000 and 1 million homes annually.


“I want to see the FHA go to the capital market, issue bonds, and raise funding to deliver mass housing projects across the country, market them, payback the loans, and declare profit,” Dangiwa stated.

He envisioned the FHA celebrating the construction and successful delivery of millions of homes to Nigerians in the next 50 years.

READ ALSO: Dangiwa Charges FHA to Wake Up, Make Next 50 Years More Impactful for Nigerians

The minister also urged the FHA to embrace operational reforms, including digitization and process optimization, to improve efficiency and deliver more affordable housing to Nigerians.

Source: Daily Trust

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