Federal Ministry of Works

Sep

2026

LATEST PRESS

UMAHI ORDERS IMMEDIATE EMERGENCY INTERVENTION ON BENIN-ASABA ROAD, AND SOME OTHER CRITICAL FEDERAL ROADS

The Honourable Minister of Works, Senator Engr. David Nweze Umahi, CON, has directed the immediate deployment of major contractors to all three sections of the Benin-Asaba Federal Road to restore the failed sections and bring an end to the suffering of motorists and other road users.

This is because, the situation on the concessioned Benin-Asaba Road has reached a point where the overall public interest must take precedence over the existing concession agreement.

Recall that the Honourable Minister of Works was on the Benin-Asaba Road about seven days ago, where he assembled a number of contractors and directed them to prepare for immediate palliative intervention on the affected sections of the road at no cost to the concessionaire. In line with the Concession agreement which requires that before the Federal Government could intervene, the permission of the concessionaire must be required, and that permission was not granted to federal government.

The Minister subsequently proposed three options to the concessionaire, any one of which would have enabled the Federal Government to move in and address the worsening condition of the road. Unfortunately, none of the options was accepted by the concessionaire. Immediately after the Minister left Asaba, the already limited equipment deployed to the road by the concessionaire was further reduced to just one, worsening the situation and increasing the suffering of motorists and other road users.

While the Minister takes responsibility for the concerns and suffering of Nigerians using the road, it is important to state that the concessionaire has also not taken the suffering of Edo people and travelling public sufficiently into consideration by declining all the options put forward by the Federal Government. The concessionaire continues to rely on the terms of the concession agreement entered into by the previous administration, an agreement which weighs heavily against the Federal Government’s ability to intervene quickly in the interest of the public in a situation like this.

In view of this situation, the Honourable Minister of Works has directed the immediate deployment of major contractors within the corridor to all three sections of the Benin-Asaba Road to restore the failed sections and bring relief to the people, with the cost of the emergency intervention being borne by the Federal Government. The Honourable Minister has also directed immediate redesign of the entire route to be rebuilt with reinforced concrete pavement. The public should therefore take note that immediate action is underway to restore every failed section of the Benin-Asaba Road and subsequently rehabilitate the entire sections of the road using reinforced concrete pavement.

2. On the Benin-Sapele Road:
The Governors of Edo and Delta States, the Niger Delta Development Commission (NDDC), and the Federal Government are currently engaged in interventions on different sections of the road to restore the entire route. While some sections are receiving palliative attention, permanent works are also ongoing on other sections.

3. On Ifaki(Ekiti) - Kabba (Kogi) Road:
The Federal Government is engaging both the contractor; Gamji Nigeria Company Limited, and Dangote PLC on immediate emergency and permanent intervention on the most failed sections of the road, while efforts are being made to financially mobilise the company for more extensive permanent work to commence on the axis.

4. On the Sokoto-Zamfara-Katsina Road: This is an inherited project involving the dualisation of approximately 350 kilometres, which translates to about 700 kilometers. The project has since been redesigned and is currently ongoing and most sections are being reconstructed using reinforced concrete pavement. From the Sokoto axis towards Zamfara, over 50 kilometres of one carriageway have been fully completed with reinforced concrete pavement. From Zamfara to Katsina, some sections have been completed and palliative works have been ordered over the sections that have not been reconstructed. However, the pace of work slowed down due to the redesign and rephasing of the project. The contractors currently engaged on the road include CBC, SETRACO, Triacta and Mothercat. They are being remobilised to return to site and complete the outstanding works.

5. On the Abuja-Kaduna-Zaria-Kano Road: The Federal Government took over the Road project and has currently completed the 118-kilometer mostly on reinforced concrete pavement on lot 1. The Lot 2, which covers 164 kilometres, is over 60 percent completed on reinforced concrete pavement. The Federal Government has also introduced solar-powered light on the entire route of Abuja-Kaduna-Zaria - Kano to improve visibility during night travel and enhance the overall security situation on the route. The entire project is scheduled for completion by December 2026.

6. On Bauchi-Jigawa Road: Triacta Nigeria Limited has been mobilised to carry out the necessary interventions on some failed sections and work is currently ongoing in those failed sections.

7. On the Sagamu-Ore Road: 48 Kilometers of the 96-kilometre road have already been completed using reinforced concrete pavement. There is also a 24-kilometre section around Ore which was abandoned by the previous contractor. The Federal Government has directed its immediate restoration to ensure seamless travel. Solar lights are being installed in the entire 96kilometer of the road.

8. On Flooded Sections on Sagamu-Ore-Benin Road: The flooded sections on the same corridor between Sagamu-Ore-Benin Road, as well as other flooded sections in Ondo State, are being designed for emergency procurement and intervention.

9. On the East-West Road:
Some failed and critical sections, including defective sections of bridges along the East-West Road, are being marked out for emergency procurement and intervention.

10. On the Abuja-Lokoja Road:
Several contracts are ongoing along the route, while the three critical sections currently without contracts are being procured for emergency intervention.

11. On the Lokoja-Benin-Warri Road: The President has directed a complete redesign and procurement of the 400-kilometre dualised route covering the uncompleted sections, using reinforced concrete pavement, while palliative works will continue with the contractors currently on the road.

12. On Carter Bridge:
While the Federal Government continues to undertake weekly maintenance of the underwater elements of the bridge. The site has also been handed over to the contractor, CCECC, for the construction of a permanent new bridge, and work has commenced.

13. On the Third Mainland Bridge:
With regard to the defective underwater structural elements, the Federal Government is at the final stage of determining the appropriate intervention for the repair of the affected elements.

14. On the flooded section of the Lagos-Ibadan Road: Work has commenced on the affected section. There are also several flooded sections on federal roads across the six geopolitical zones, largely occasioned by excessive flooding and the effects of climate change. The Federal Government is identifying and marking these sections for immediate attention.

15. On the First and Second Niger Bridges:
Intervention work is ongoing on the approach roads to the Second Niger Bridge damaged by flood and the work is progressing very well. The First Niger Bridge has been closed to traffic to enable immediate repair works. Contractor has mobilized to site and comprehensive rehabilitation of the bridge has started. From Summit Junction to the First Niger Bridge, massive rehabilitation work is also ongoing using reinforced concrete pavement.

16. The Honourable Minister wishes to commend the President of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, for the massive work being undertaken on the nation’s roads since the administration assumed office in 2023.

17. It is important to state that when the present administration came into office, there was hardly any part of the country where one could travel for an hour without encountering significant challenges on the road network. The condition of the country’s roads and bridges was a major national infrastructure challenge.

18. Rather than shy away from the problem, the administration of President Bola Ahmed Tinubu made the nation’s road network a priority. Virtually every part of the country became a priority, and the Federal Government, through the Federal Ministry of Works, Regional Commissions, Parastatals and other MDA’s has continued to respond extensively to these challenges.

19. The Federal Government is currently working on over 80 percent of the inherited federal roads, an unprecedented level of intervention in the country’s road infrastructure.

20. We ask the public to understand the enormous challenges inherited on our roads and bridges and to take note not only of the problems being solved, but also of the permanent solutions being introduced.

21. A major part of this new approach is the use of reinforced concrete pavement, designed to significantly extend the lifespan of major roads. These roads are expected to last between 50 and 100 years. This means that roads being constructed under President Bola Ahmed Tinubu’s administration are being designed with future generations in mind, rather than simply providing temporary solutions to today’s problems. And this is a complete departure from the past, when roads often deteriorated only a few years after completion, resulting in a continuous cycle of reconstruction and expenditure.

22. We appreciate the concerns of Nigerians over the condition of some roads presently and the difficulties faced by motorists and commuters who cannot move easily from one point to another. Those concerns are legitimate, and the Federal Government is listening. But Nigerians should also recognise the enormous scale of the problems inherited and the amount of work currently being undertaken across the country.

23. It is simply impossible to resolve every road challenge accumulated over many years of neglect by the past administrations within three years. What is important is that the government is working, the government is responding, and the government is putting permanent solutions in place.

25. We appreciate members of the public who send situation reports on failed roads and other infrastructure challenges. These reports help the Ministry identify areas requiring urgent attention. However, we also appeal to members of the public to report when such problems have been addressed, just as they report when they occur.

24. We are aware of situations where photographs and reports of road challenges continue to circulate on social media even after the Federal Government has intervened and resolved the particular problem.
25. However, the Ministry will continue to respond as rapidly as possible to genuine reports and concerns from Nigerians.
26. It is also important to note that we have compiled a comprehensive record of all inherited, ongoing and intervention projects across the country which is available to the public. This is to ensure that Nigerians have access to information on the infrastructure projects being undertaken nationwide and can fully participate in and appreciate the infrastructure revolution of President Bola Ahmed Tinubu’s administration.

Feb

2025

FEDERAL MINISTRY OF WORKS/ MTN MEETS ON QUALITY AND SPEEDY DELIVERY OF ENUGU - ONITSHA EXPRESSWAY PROJECT FUNDED BY MTN UNDER TAX CREDIT SCHEME,FIXES COMPLETION DEADLINE FOR 10TH MAY 2026 AS HONOURABLE MINISTER OF WORKS CALLS FOR IMMEDIATE REDUCTION OF COST OF CEMENT TO N7,000 BY MANUFACTURERS GIVEN THE INCREASED ECONOMIC REBOUND THROUGH MR. PRESIDENT’S SUSTAINED REFORMS The meeting of the Federal Ministry of Works with MTN and RCC Company Nig. Ltd over the slow funding and execution of the Enugu-Onitsha Expressway by MTN under the Infrastructure Development and Refurbishment Investment (Tax Credit) Scheme, held at the Ministry's headquarters, Mabushi-Abuja on 26th February 2025 has ended with the following resolutions: A - The construction of Enugu-Onitsha dual-carriageway must be completed by 10th May 2026. B - MTN shall be held responsible should the road fail after construction on account of shady job by the contractor. C - There will be no variation or VOP on the project and RCC must note that going forward, the operation of VOP in their projects must be in accordance with the procedure contained in the Conditions of Contract and not at the whims and caprices of the contractor. D - MTN not to sacrifice their responsibility of funding the project at the altar of MTN's business profit as this will wittingly or unwittingly inhibit speedy delivery of the project and inpune on the public perception of the will of government to ensure logical completion of the project. E - There must be a commitment in writing between MTN and the Federal Ministry of Works that this offer is predicated on these conditions herein set out. There must be a commitment because the more the job delays, the more there is variation. Speaking during the meeting, which had in attendance, the Honourable Minister of State for Works, Rt. Hon. Mohammad Bello Goronyo Esq, the Permanent Secretary of the Federal Ministry of Works, Engr. O.O Adebiyi, the representatives of MTN, the Managing Director of RCC Company Nig Ltd and his team, the Honourable Minister of Works, His Excellency, Sen. Engr. Nweze David Umahi, CON reiterated that the Federal Ministry of Works is unwavering in its commitment towards ensuring that the contractor handling the project, and in this case MTN that is handling the project under the Tax Credit Scheme is made to ensure quality and speedy delivery of the project. He wondered why an official of MTN could go on his way to insinuate that the directive made by the Federal Ministry of Works that RCC Ltd should stop using materials that could derail the quality outcome of the job amounted to a sabotage of the projects of Mr. President in South East. He said,: "We have to put the records straight that this ministry has the responsibility to ensure quality delivery of work by contractors. And the contractor in this case is MTN". He recounted the various inspection visits he made to contractors' project sites and how this had caused them to brace up for ensuring quality and speed in project delivery. He said of MTN's Enugu-Onitsha Expressway project, "We went through what MTN was doing. We discovered that they were using peeled sand to do the job. I'm an engineer. I'm not a history graduate. I'm a fellow of the Nigerian Society of Engineers, and I've spent all my life in the field. And we gave a directive, which is in line with the general conditions of contract, that should stop using such sand but go back, and use river sand, which we paid for." The Honourable Minister emphasized the need for RCC Nig Ltd to play by the rule in project variation. He decried as unacceptable a situation where RCC could do a job of N38 billion and demand for a VOP N14 billion and said that going forward such indulgence by contractors in the name of inflation would not be tolerated. He used the medium to call on the manufacturers of cement, which is a key element in the construction industry, especially on the use of Continuously Reinforced Concrete Pavement, to please reduce the cost of cement to N7,000 as the price of dollar has drastically reduced, the cost of petrol is coming down and efforts are being made by Mr. President to fix the road. He said, "I'm happy that the policies of Mr. President, are working. Today, a dollar is about N1,400. And let me use the opportunity to express dissatisfaction with the cost of cement. Our contractors have called and complained that they wanted to move back to asphalt. We are using this medium to tell the cement manufacturers that at the time, the dollar was almost N2,000, they increased cement from N7,500. Why should today that the President has brought dollar to stability to about N1400, and is still going down, why should cement be selling for N9,500? We are requesting cement manufacturers to bring down the cost of cement to N7,000. If after one week they don't do that, I have to complain officially to Mr. President." In their separate remarks, the Honourable Minister of State for Works and the Permanent Secretary Federal Ministry of Works estolled the stance of the Federal Ministry of Works on the policies that would not only fast track job execution but also guarantee value for money and quality project outcome. They urged the contractor to cooperate with the new paradigm under the Renewed Hope administration and work towards delivering the Enugu-Onitsha dual-carriageway on a record time so that Mr. President could commission it for public use. The representative of MTN in his vote of thanks expressed the readiness of MTN in working towards realizing the delivery of the project within the agreed timeline. ...

Feb

2025

FG FLAGS OFF DUALISATION OF AJAOKUTA JUNCTION - OKENE - OKPELLA - AUCHI - EKPOMA - BENIN ROAD IN KOGI AND EDO STATES -Road Construction under President Tinubu has 50-100 Years Guarantee Sequel to the termination of the contracts for Sections II, III, and IV of the Dualisation of Obajana Junction - Benin Road due to non-performance and effluxion of time, last year, and their re-award, the Federal Government, through the Minister of Works, His Excellency, Sen. (Engr.) David Nweze Umahi, CON, FNSE, FNATE has flagged off the said projects. The ceremony was held on Wednesday, 19th February in Ekpoma, Edo State. During the flag-off ceremony, Engr. Umahi gave a brief pathetic history about the road, which moved Mr. President to order a permanent solution on the road using Continuously Reinforced Concrete Pavement (CRCP) technology with a 50-100 years guarantee. According to him, hitherto, commuters and motorists have been going through hardship due to its failure and high traffic volume, hence the dire need for its dualization. He stated that the project has lingered for too long with attendant consequences on the road users. He added that he has been visiting the road since his assumption of duty and has held several meetings with the former contractors but nothing changed. Upon reporting back to Mr. President, he ordered for immediate and permanent solution to alleviate the suffering, which led to the termination of three (3) out of the four (4) sections of the entire alignment. As an adjoining part of the East-West road, it is very dear to President Bola Ahmed Tinubu, GCFR, Umahi posited. It is, as well, a vital link to the Federal Capital (Abuja) and other Northern States with the South-East, South-West, and South-South geo-political zones of the country, thereby helping to connect and improve economic activities. He commended the Governor and the good people of Edo state for the display of team spirit on the project. Umahi disclosed that the Governor does not only supervise State Government works but extends his monitoring to those of the Federal Government. He also expressed his gladness for the governor’s humble disposition and for the quantum of projects going on in the state within a spate of 100 days in office, which was being celebrated on the same day. While appreciating Mr. President for his concern for the plight of the people plying the road, as well as those living along its corridor, the Minister pleaded with them for patience during the duration of the construction of the additional lanes and reconstruction of the existing alignment. He directed the contractors to expedite action on the work, as delays will not be tolerated. In his remarks, the representative of Mr. President and Governor of Edo State, His Excellency, Sen. Monday Okpebholo praised Mr. President and the Minister of Works for coming to the aid of the people of Edo State. According to him, with this kind gesture of Mr. President, light has entered the state. He promised, on behalf of his people, unalloyed support for Mr. President’s re-election in 2027. Also, the Governor of Kogi State being represented by the Deputy Governor thanked Mr. President for the fatherly gesture, assuring him of reciprocity during the elections. In a Goodwill Message, the former Governor of Edo State and Senator representing Edo North, Sen. Adams Oshomole hailed the magnanimity of President Bola Ahmed Tinubu, GCFR, and the untiring spirit of Engr. David Umahi, while thanking God for witnessing the day. It is worthy of note that the dualization of Lokoja - Benin Road is in four Sections, but three sections of the road project fall under Edo State. Section II starts from Okene to Auchi, which is about 63.70km long; Section III starts from Auchi – Ehor, which is about 54.224km long, and Section IV, which starts from Ehor - Benin is about 67.9km long. The Section I (Obajana Junction-Ajaokuta Junction) of the project, which is ongoing, is being handled by Messrs CGC (Nig.) Ltd. They were also awarded Section II, while Section III is being given to Messrs Bua Construction (Nig.) Ltd. and IV to CBC (Nig.) Ltd. ...

Feb

2025

Minister Applauds FERMA Staff for Determination and Resilience The Minister of State for Works, Muhammad Bello Goronyo, Esq has complimented the determination and resilience of the management and staff of the Federal Roads Maintenance Agency (FERMA) in the discharge of their responsibilities. He stated this on Tuesday, 18th February, 2025, while addressing staff of the Agency in Lafia, headquarters of the North Central Zone, during a one-day familiarisation visit and inspection of ongoing works on the Keffi-Gitata-Shendam/Plateau State Border road in Nasarawa State. Goronyo acknowledged the resourcefulness of the FERMA’s personnel in fixing Nigeria's roads despite the inadequacy of annual budgetary allocations. He disclosed that pressures are being mounted on the Agency now, more than ever, from various quarters to maintain the roads despite the mergre resources. Goronyo cited as an example the Lokoja - Abuja Dual Carriageway, sections of which are in bad shape, prolonging travel time from 1 hour 30 minutes to 4 hours. In contrast, the Minister revealed that his journey from Abuja to Lafia was smooth, as well as joyful due to the good road. He said "This is hope being renewed and everybody must be on their toes. The President is determined to move the nation forward and we must support him to actualise his vision and mission." The Minister, who emphasised the determination of the Ministry of Works to resolve all the challenges being faced by the staff, stressed that they should ensure they sensitize the public against packing and abandoning vehicles, especially trucks on the roads. He also called on the Federal Road Safety Corps (FRSC) to support the Ministry’s efforts by safeguarding Federal roads across the country. He informed them that the Managing Director/CEO is addressing issues related to their welfare, while urging them to reciprocate the gesture by ensuring that the Agency continues to deliver on its mandate. The Minister added that the stakeholders across the country have been commending the Agency for their dedication and patriotism in maintaining Nigerian roads despite challenges of funding and security in some parts of the country. He noted that the Government alone cannot maintain all the roads due to the high level of deterioration, calling for a collective effort to ensure safer and motorable highways. Goronyo urged the road users, as well as benefiting communities to protect the infrastructure by not digging holes or creating demarcations. He added that President Bola Ahmed Tinubu, GCFR is ready and determined to ensure that all Nigerian roads are in good conditions for improved economy and assets. The Minister also reiterated the Federal Government's resolve to enhance road maintenance and urged all stakeholders to support the administration's initiatives aimed at achieving safe and durable roads, nationwide. Earlier in his remarks, the Managing Director/CEO, FERMA, Engr. Chukwuemeka Agbasiuu, Ph.d expressed his satisfaction with the progress of the rehabilitation projects in Nasarawa State. He reaffirmed the Agency's commitment to delivering high-quality roads and enhancing travel experience, in line with President Tinubu's Renewed Hope Agenda. Engr. Agbasi also guaranteed field workers training and retraining to equip them with 21st-century construction trends. He added that despite issues of insecurity in the North Central zone, they should not relent in their collective efforts to maintain Nigerian roads. He stated that FERMA is doing its best despite inadequate funding, stressing that it will soon take delivery of brand-new equipment, while the grounded ones would be repaired and put into use. Also, in his opening remarks, the Zonal Head of North Central II, covering Benue, Plateau, Taraba and Nasarawa States, Engr Halilu Umama highlighted the strategic importance of the region as a vital link between Northern and Southern Nigeria. He noted that many projects in the zone are being executed through direct labour between 2022 to 2024 and he outlined major challenges including the high costs of construction materials, equipment rental, low budgetary allocations, and road abuses such as the erection of illegal speed breakers and encroachments on Federal highways. In his Closing Remarks, the Federal Roads Maintenance Engineer for Nasarawa State, Engr. Aliu Muhammad voiced gratitude for the progress made in the past seven (7) months. He commended the leadership of the Ministry and that of FERMA for their commitment to improving road infrastructure and ensuring better conditions for field workers. ...

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Nov

2025

OTHER NEWS

Aug

2021

Perm Sec Works Appeals Against Destruction of Public Utilities

The Permanent Secretary, Federal Ministry of Works and Housing, Babangida Hussaini has appealed to the public to desist from destroying public utilities, imploring them to help the government in it's effort to preserve them for the good of the nation.

Hussaini gave the warning over the weekend during a routine inspection of the ongoing Abuja - Kano road project and coincidentally saw some women burning tyres under the bridge of a railway crossing along Zaria-Kano section of the expressway.

He queried " where are you destroying our bridges, our roads and public utilities, this is putting the government and public life in danger "

The Perm Sec was on inspection of the ongoing reconstruction work of the road when he suddenly saw some women burning tyres under the bridge of the railway crossing along Zaria-Kano section of the road and suddenly braked to address them.

Hussaini told them that their action was putting the citizens life in danger and a waste of resources of the government, thereby drawing back the efforts of President Muhammadu Buhari at providing quality road infrastructure for the good of Nigerians.

While expressing his visible anger, he also sounded a strong warning to them to desist from such activities henceforth. He implored them to see government's properties as their personal property so that they protect and preserve them jealously.

In their reactions, one of the women caught in the act said that, they only saw some other people burning tyres under the bridge and that they only joined without knowing the implication.

She expressed regrets over their actions, telling the Perm Sec and his entourage that "we have to obey our leaders"

SPEECHES

Nov

2019

Welcome Remarks By the Director (Planning, Research & Statistics), Dr. Famous S. Eseduwo at the Technical Session of the 8th Meeting of the National Council on Lands, Housing and Urban Development

PROTOCOLS

On behalf of the Honourable Minister of Works and Housing, Babatunde Raji Fashola, SAN, Honourable Minister of State, Engr. Abubakar D. Aliyu, FNSE, the Permanent Secretary, Mohammed Bukar and the Management of the Federal Ministry of Works and Housing, I warmly welcome you to the Technical Session (Meeting of Officials) at the Eight (8th) Meeting of the National Council on Lands, Housing and Urban Development.

2. The theme of this year’s Council Meeting, “Housing Development and Consumer Credit as Strategies for National Prosperity” was carefully chosen in recognition of government’s new initiative to generate more jobs and create wealth for Nigerians through the mass construction of affordable housing units.

3. As we all are aware, housing is one of the fundamental human needs and a veritable indicator of standard of living in every society. However, housing deficits exist in almost all the countries of the world, either in the form of shortages in supply or affordability gaps.

Housing is of supreme importance to man and one of the best indicators of a person’s standard of living and his place in society. However, at no point has it been adequately supplied either quantitatively or qualitatively.

4. Permit me to highlight that various factors are responsible for preventing effective housing development, some of which include lack of secure access to land, high cost of construction, limited access to finance, bureaucratic procedures, high cost of land registration and titling, uncoordinated policies and implementation at both Federal and State levels, ownership rights under the Land Use Act, lack of critical infrastructure, affordability gap, and inefficient development control, etc.

5. In order to comprehensively address the challenges of housing development for sustainable economic growth, there is the need to develop a holistic strategy that will involve all tiers of government and the private sector. Considering the fact that the private sector has displayed flexibility and potentials in housing development as it is prevalent, internationally. I want to assure you that the federal government would continually work towards fine-tuning its policies and programmes towards creating an enabling environment for greater participation of subnational governments and the private sector in housing development.

6. It is worth noting that, the present Administration is mindful of the challenges of ‘access to credit’ encountered by the Low- and Medium-Income segments of our society in the pursuit of home ownership. Government is also aware that land acquisition poses a major hindrance to effective housing delivery. Thus, all processes that would ensure proper harmonization of the various procedures and instruments of land acquisition/transfer across the country are currently being addressed.

7. The Ministry through its agencies is working tirelessly in collaboration with the Office of the Head of Civil Service of the Federation, the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), Cooperative Societies as well as the Nigeria Employers’ Consultative Association (NECA) towards the development and delivery of affordable housing to the low-income workers in the formal sector. Furthermore, our Agencies are also developing initiatives to incorporate micro-enterprises, such as agro-allied ventures into the housing scheme with a view to generating more employment opportunities thereby creating wealth for beneficiaries to repay their loans at ease

8. It is interesting to note, that the Federal Mortgage Bank of Nigeria’s single digit interest rate of 6% on mortgage and home renovation loans is the lowest, compared to what is obtainable in the open market. The Bank has concluded various initiatives to make shelter more accessible and affordable by the reduction of equity contribution for National Housing Fund mortgage loans to 0% for loans of N5 million and below, while loans of N5 - N15 million attract only 10% down payments.

9. In addition, the ‘Rent-to-Own’ initiative eliminates equity contribution and payment of mortgage perfection fees, which accounts for up to 20% of mortgage transaction costs. Under a simple rental arrangement, an individual gains immediate access to a housing property while the monthly rent is accrued to serve as equity build-up towards ownership of the property.

10. As you are also aware, the ongoing National Housing Programme across the federation is an initiative specially designed to encourage local manufacturers, professionals, artisans and craftsmen towards enhancing employment and wealth creation. The Housing Programme only allows the use of home-grown building materials and components in the construction of the houses except where it is established that the component cannot be produced locally or production capacity is inadequate.

11. Ladies and Gentlemen, in recognition of the widening income gap in our society, the present administration has provided an array of safety-nets through the National Social Investment Programme (SIP), targeted at providing support to over 12 million needy Nigerians by giving relief and assistance to children, unemployed youths, the weak and vulnerable as well as small/medium entrepreneurs (SMEs) to mitigate the adverse effect of poverty. Let us also use this platform of the National Council to harvest ideas and develop some stringent strategies for employment generation and wealth creation through the built industry.

12. I, therefore, urge all stakeholders, here present, to make meaningful contributions on the memoranda submitted to enable the federal government formulate and strengthen policies that would facilitate more home ownership amongst Nigerians, especially the low- and -medium income earners.

Thank You.