Housing Minister seeks collaboration with Institute of Mortgage Brokers

Minister of State for Housing and Urban Development, Abdullahi Tijjani Gwarzo, has sought continuous collaboration with the Institute of Mortgage Brokers and Lenders of Nigeria, (IMBLN), on standard specifications in building of houses by practitioners.

The minister said the collaboration would creat a brighter future alongside achieving overall economic growth in the country in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

Gwarzo made this call when he received the governing council of the IMBLN led by its President, Quantity Surveyor Hayatuddeen Atiku Awwal in his office.

He said “As we continue to work towards our common goals of enhancing professionalism and fostering growth within the mortgage and real estate sectors, I encourage continued collaboration and dialogue between our ministry and the Institute,” noting ” together, we can overcome challenges, seize opportunities, and create a brighter future for our nation.”

Gwarzo noted “In line with our government’s agenda to provide affordable housing and promote sustainable urban development, we acknowledge the importance of a robust regulatory framework and a skilled workforce. “

He also described the Institute’s role in setting prescribed rules and regulations that ensures adherence to best practices and ethical standards, a good measure to safeguard the interests of both consumers and professionals.

Gwarzo recognized the crucial role played by the Institute in setting and reviewing standards, promoting research and development, and providing consultancy services

” Your efforts in organizing conferences, seminars, symposia, and meetings, contribute significantly to knowledge exchange and capacity building within our industries” he added.

Speaking earlier, the President of the Governing Board of the Institute of Mortgage Bankers and Lenders of Nigeria, QS. Hayatuddeen Awwal, said the Institute has identified some challenges facing the housing sector with regard to home ownership and creation of jobs, saying collaboration with the ministry was the only way to tackle them.

“Working together with the ministry would unlock potentials in mortgage industry as well as drive positive changes the housing sector” he said

The President also explained ” through our activities, we strife to create an enabling environment for affordable housing and wealth creation for all Nigerians bearing in mind that the housing sector alone has the tendency to challenge the peculiar insecurity, job loss and death of artisans that is ravaging the country,”

He further expressed confidence that under the current leadership in the housing ministry, design and specification of houses would be standardised, pointing out that he has begun an advocacy on adopting Nigeria model in the built environment.

Adopting Nigeria model, he said it would enhance mortgage reforms that would ensure the acquisition of the Renewed Hope Cities and Estates within the shortest possible time.

On Mortgage facility open to informal sector of the nation, the President explained that the workers in informal sectors of Nigeria were not exempted from accessing mortgage facilities , adding “but they find it difficult to access it because mortgage officers are not patient enough to generate a statement of income that could qualify them for accessibility since they do not have a standard payslip”.

He further advised the mortgage bankers to exhibit patience and humility when engaging with them so as to promote inclusivity in home ownership through mortgage financing, disclosing that the Institute has begun talk with the Federal Mortgage Bank of Nigeria to liberalise to the informal sector.

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