Why FMBN’s housing fund platform should be more accessible – Expert




An expert in the built industry, Mr. Benjamin Onigbinde, has advocated that the housing fund platform of the Federal Mortgage Bank of Nigeria (FMBN) be made more accessible to all economic segments.

Onigbinde, who is the Chief Executive Officer (CEO) of Sigvent Property Trust Limited, disclosed this in an interview with Blueprint in Abuja.

He said the funds’ accessibility would address the huge housing gap in the country, and also called for a synergized housing policy among all levels of government as well as an acceptable model of affordable housing with a focus on customers’ needs and requirements.     

Onigbinde said: “There is a lot to be done from industry regulation, policy reforms, design innovation, and technology to finance. I look forward to seeing a synergized housing policy among all levels of government as well as an acceptable model of affordable housing with a focus on customers’ needs and requirements.

“Lagos State is doing well in real estate regulation through its Real Estate Regulation Agency. I suggest its adoption by other state governments. Also, the Housing Funds platform of the Federal Mortgage Bank should be made more accessible to all economic segments’’

On the housing deficit’s figure, he called for the deployment of the digitization processes to get adequate housing statistics, adding that without accurate figures, housing policy will be faulty and not workable.

He said: “According to the minister, the source of the projection of the 17m to N22m housing deficit figure cannot be verified, which I agree with. But how much is the figure? If we cannot get an actual figure, how do we progress? Without accurate figures, our policy will be faulty and not workable. More digitization processes should be employed to get adequate housing statistics, and it has to be done now’’.

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