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Estate Developers Vow To Provide Affordable Housing For Abuja Residents

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Various estate developers, who spoke at the Millard Fuller Foundation
(MFF), first edition of its quarterly housing seminar in Abuja at the
weekend, have vowed to provide accessible and affordable housing for
residents of the Federal Capital Territory (FCT).

In his address, the chief executive officer (CEO) of the foundation,
Sam Odia, identified the teething problems bedeviling the informal
sector of the Nigeria economy as it concerns mortgage provision.

Odia, who spoke under the theme: “Affordable Mortgage financing for
the Informal Sector: the way forward”, disclosed that the foundation
would be hosting a quarterly seminar to deliberate and proffer
solutions to the major challenges facing the housing sector in the
country.

“We want to lean less on the theoretical or academic to something more
practical, and within the next few hours, we want to find ways to
forge ahead with creating mortgage products for the informal sector,”
he added.

In his presentation titled, ‘Enabling Affordable Housing Provision In
Nigeria For The Informal Sector: The Nigeria Housing Finance Program
(NHFP)’, the deputy director, other financial institutions supervision
department (CBN), Mr. Adedeji Adesemoye noted that The Nigeria Housing
Finance Program (NHFP) is guided by the philosophy that shelter is a
fundamental human need.

Adesemoye also stated that “the NHFP partners with the industry in the
development of policies designed to achieve the standardisation of
processes, enabling easier access to funding, and faster resolution of
matters relating to housing within the system.

Founder of the Assured Group, Arc A.T. Okupe, while discussing the
topic, ‘Providing Affordable Private Developer Mortgages to
low-to-moderate income earners in Nigeria: The Assured Mortgage
Model’, said for there to be truly affordable houses, stakeholder need
to have a rethink of current emphasis and do the needful to support
the efforts of private developers in the provision of affordable
homes.



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