Network Canvasses Recapitalisation Of FMBN, Housing Reforms

The Housing Development Advocacy Network (HDAN) has called for the recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN) and sweeping reforms in the housing sector.

It also congratulated President Bola Ahmed Tinubu on his 74th birthday.

Its executive director, Festus Adebayo, described the President’s birthday as a moment to celebrate a life of service, leadership and commitment to nation-building.

HDAN extended its warm wishes to the President, praying for good health, wisdom and strength as he continues to lead the country.

It appealed to President Tinubu to use the milestone as a renewed commitment to the housing aspirations of ordinary Nigerians by pursuing bold, practical reforms to make decent shelter more accessible and affordable.

While acknowledging efforts made in the sector, the organisation stressed that more needs to be done, especially in strengthening mortgage systems, enforcing the use of locally manufactured building materials, expanding social housing for family homes, and supporting new initiatives such as MOFI to drive sustainable housing development.

The group specifically urged the President to prioritise the delivery of mass housing and to provide stronger support to key institutions, including the recapitalisation of the Federal Mortgage Bank of Nigeria, while also championing reforms to create an enabling environment for private sector participation in affordable housing and mortgage refinancing.

HDAN expressed optimism that under the President’s leadership, the housing sector could become a major driver of economic growth, job creation, social stability and national development.

The organisation also reiterated its commitment to working with the government and other stakeholders to advance policies and initiatives that will make housing more accessible and affordable for all Nigerians.