FMBN restrategising to deliver more houses to Nigerians- MD

Thu, Apr 18, 2024
By editor


Managing Director of Federal Mortgage Bank of Nigeria (FMBN) Shehu Osidi says the bank is restrategising the housing sector towards delivering more houses to Nigerians.

Osidi made this known on Wednesday when he received the Housing Institutions Reform Task Team and the Multi-Agency Project Delivery Task Team in Abuja.

He said that the bank recognised the need for reforms and took the initiative to commence a journey of repositioning and recapitalisation in conjunction with the Bureau of Public Enterprises.

“We have a five-year strategy blueprint approved by the Board guiding our operations and a major ICT-Project.

“The core banking application is nearing completion, about 95 per cent to improve service delivery and enthrone efficiency.

“The amendment of the FMBN and National Housing Fund ACTs have also commenced in the National Assembly.

“The Executive Management is concentrating on seven core but broad agenda to further deepen the on-going reforms and usher remarkable turnaround.”

Osidi said that Nigerians would start seeing changes in the sector, adding that President Bola Tinubu’s government is committed to reforms in all sectors of the economy.

He said that the Minister of Housing and Urban Development jad inaugurated four reform task teams to address the critical areas of the housing sector in Nigeria.

He listed them to include the Housing Institutions, Task Teams to reform the housing delivery agencies and the Multi-agency Reform Task Team to enhance collaboration between the various housing delivery agencies in Nigeria.

The MD said there was the Building Materials Manufacturing Hubs to be established in the six geo-political zones of the country, and then there are also the Land Reforms.

Osidi said that FMBN would also explore public private partnership to deliver massive housing in the country.

Earlier, Mr Adedeji Adesemoye, Chairman, Federal Housing Reform Task Team, said that the team was focused to deliver on its mandate of reforming the housing sector.

Adesemoye said the team had outlined a lot of reforms in the sector that when implemented would transform the nation.

According to him, the move is critical to both the ministry’s mandate and in order to continue with the buy in of the president.

“Yes, there are a few challenges on the way which is not unexpected, but we are making sure that we are in contact with the Ministry and the agencies to ensure they key in so as to overcome the hurdles.”

Adesemoye added that with the structure of  delivery on ground, the nation would have quick wins in less than 12 months.

He, however, noted that there would be long, short and medium term goals as soon as their report is being implemented.(NAN)


April 18, 2024 @ 08:27 GMT