FG to commercialise federal housing estates

The Minister of Lands, Housing and Urban Development, Mrs Akon Eyakenyi on Friday, inaugurated Interim Management Team and Technical Board of the Federal Housing Authority (FHA).

Eyakenyi, at the Inauguration, gave the 18- man team 18 months to ensure the restructuring of the FHA.

The minister, who would co-chair the team with Managing Director of FHA, said it would work out modalities to ensure the delivery of affordable and quality houses to Nigerians.

She said the board would also work towards the commercialisation of FHA by putting in place an effective monitoring and feedback mechanism to meet its targets.

``FHA was established in 1973 and vested with the responsibility of preparing and executing national housing programe.

``However, the objective of the FHA and its subsidiary as vehicles for bringing affordable housing to the doorsteps of the less-privileged and low income earners is yet to be achieved.

``Since its inception 40 years ago, the authority has been able to build only 37,000 houses across the country, which is an average of less than 1000 houses per annum.

``The housing deficit in Nigeria is estimated at 17 million units. Studies show that the authority is handicapped by a number of challenges.

``These include institutional/operational losses, teeming legacy debts, poor internally generated revenue base and inability to effectively function without budget line.’’

She urged the board to evolve a more result-oriented and accountable management technique based on performance contract, to ensure financial solvency through cost control.

The minister said that the inauguration of the team was a major milestone in the collective efforts towards making housing delivery programmes more robust and efficient.

Eyakenyi said FHA was the engine room that should drive the housing transformation agenda hence the need to restructure it.

She said the task of the team was to look into the technical aspect that would help in constructing buildings with great quality at an affordable rate.

She said the team should look into all the FHA properties including those sold and yet to be sold, for proper record keeping so as to chart the way forward.

Prof. Mohammed Al-Amin, the Managing Director of FHA and leader of the team, commended the minister for the opportunity given to him and members of the committee to serve.

Al-Amin said that the team would work hard to ensure that the housing deficit was reduced adding that ``we are not happy about the figure.’’

He said that housing was the third key driver of the economy. ``The team will therefore work hard to ensure a productive housing sector.’’