17m Deficit: Adopt Ethiopia’s Mass Housing Model, Dangote Tells FG

The chairman/chief executive officer of Dangote Group, Alhaji Aliko Dangote has called on federal government to adopt Ethiopia’s mass housing model in a bid to address the over 17 million housing deficit in the country.

Dangote also said he supported the proposed restructuring and N500bn recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN) for effective service delivery. He stated this when he visited the bank’s headquarters in Abuja alongside the chairman/ chief executive officer of BUA Group, Alhaji Abdulsamad Isyaku Rabiu on ways to boost affordable social housing delivery for Nigerians.

The Africa’s richest man commended FMBN for the renewed aggressive drive to provide affordable housing for Nigerians. Dangote assured that his company is ready to collaborate with FMBN towards reducing the housing deficit by increasing the tempo and scale of social housing provision across the country.

According to him, “Count me as a friend of FMBN because we are open to collaboration and willing to support the good works that your bank is doing towards ensuring the provision of affordable housing to medium and low income earners in Nigeria”.

Also speaking, chairman, BUA Group of companies, Alhaji Abdul Samad Isyaku Rabiu stated that he is committed to a close partnership with FMBN.

Responding, the FMBN board chairman, Dr. Adewale Adeeyo lauded the support and partnership of the companies towards the development of the sector.