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.