The Managing-Director of the Federal Housing Authority (FHA) Sen. Gbenga Ashafa, has said the authority needs at least N500 billion to reduce the number of homeless persons nationwide.
He disclosed this during a press briefing at the weekend in Abuja ahead of the 50th anniversary of FHA.
Ashafa revealed that the authority has successfully built about 149,000 housing units in its 50 years of existence.
Federal Housing Authority (FHA) was established via a legal instrument known as decree No. 40 of 1973 revised as CAP 136 Laws of the Federation 1990 and now CAP F14 Laws of the Federation 2004 to execute housing programmes approved on behalf of the Government.
The MD 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.
According to him, “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 I, IV, V and VI. 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.”
Ashafa, who complained about the amendment of its Act that changed its operations from a government wholly owned agency to a partly funded institution, stressed that the authority has made housing affordable for Nigerians.
He also reiterated the agency’s commitment to allow more persons access to its rent-to-own scheme to reduce the number of homeless Nigerians.
Ashafa also revealed that the event is expected to be attended by President Bola Tinubu and other highly placed actors in the housing sector.
