FHA needs N500bn to bridge housing gap — MD
The Managing Director of the Federal Housing Authority (FHA), Sen. Gbenga Ashafa, has said the authority requires at least N500 billion to bridge the nation’s housing deficit which is reportedly put at 28 million. Ashafa, who disclosed this at a press briefing organised to mark the 50th anniversary of the FHA at the weekend in […]
Federal Housing Authority (FHA)
The Managing Director of the Federal Housing Authority (FHA), Sen. Gbenga Ashafa, has said the authority requires at least N500 billion to bridge the nation’s housing deficit which is reportedly put at 28 million.
Ashafa, who disclosed this at a press briefing organised to mark the 50th anniversary of the FHA at the weekend in Abuja, said housing is a critical sector of the economy and the agency has done its bit by providing 49,000 units in direct construction and 100,000 units through partnerships with private developers in 50 years.
The MD said, “Before the directive that mandated us to be fully privatised before it was changed to a partially commercialised agency, we were able to do so much and that was how to kick start the diamond estate projects, Festac town, Abesan one, four, five and six. We moved to Ogun State and we have built so many estates.
“A lot of funds were available and we were able to build 49,000 houses in direct construction by FHA. Also, over 100,000 units have been built when you look at partnerships with private developers all around the capital city and other states.
“In total, we would be looking at over 149,000 units of housing built in 50 years and we are prepared to do more with the renewed hope model that is coming in.”
He decried that the amendment of the FHA Act which changed it from a full-fledged government authority to a partly funded agency has hamstrung its operations. He, however, said the authority has made housing affordable for Nigerians.
Ashafa added, “Let us be modest. First, we are not in the budget of the federal government. We are trying to be modest and if something reasonable will be given to us so we can be able to assist in building, and an amendment to the act is done in such a way that we are able to enter that federal government budget. I won’t be asking for less than N500 billion to start off because there is a lot to be covered.”