Federal Government inaugurates 13-member committee to tackle Nigeria’s housing data challenges | Prestige Real Estate
The Federal Government has officially inaugurated a 13-member Steering Committee for the National Housing Data Centre, tasked with tackling Nigeria’s housing data challenges.
The committee was inaugurated by the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, on Tuesday, according to a statement released on the Ministry’s website.
This initiative is part of the Renewed Hope Agenda of President Bola Ahmed Tinubu to develop credible, scientific, and verifiable housing data.
“Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has inaugurated a 13-member Steering Committee on the National Housing Data Centre in Nigeria, Tuesday, August 20th, 2024,” a part of the statement read.
The committee’s responsibilities include setting up a National Housing Data Centre (NHDC) and establishing frameworks for data gathering and distribution to improve the efficiency of Nigeria’s housing market.
Speaking at the inauguration, Arc. Dangiwa emphasized that fixing Nigeria’s housing data problem is a top priority under the Renewed Hope Agenda. He pointed out that the housing sector currently lacks reliable data, which is essential for understanding the true magnitude of the housing problem in the country.
“Under the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, GCFR, for housing and urban development, fixing Nigeria’s housing data problem is a top priority. As the lead driver of Mr. President’s vision in the sector, we are committed to working with all stakeholders to tackle this problem” Dangiwa stated.
The Minister further explained that decent and affordable housing serves as a catalyst for economic development, job creation, and poverty alleviation. He noted that no nation can thrive effectively or enjoy peace and stability without an efficient housing market that provides decent shelter for its citizens.
Among the key deliverables for the Housing Data Committee is the development of a framework and modalities for establishing the National Housing Data Centre (NHDC).
The committee is also tasked with creating a framework for data-gathering channels from both public and private institutions and designing a distribution system for housing data to institutional and retail investors in the Nigerian financial market.
Additional responsibilities include developing a framework for data distribution to all participants in the housing market, establishing timelines for setting up a mortgage exchange and formulating a Stakeholder Engagement Strategy.
The Minister urged the committee members to approach their mandate with dedication and commitment, emphasizing the importance of delivering results within the 12-month timeframe.
In response, the Co-Chair of the Committee, Kehinde Ogundimu, Managing Director/Chief Executive Officer of the Nigeria Mortgage Refinance Company (NMRC), expressed satisfaction with the initiative and thanked the Minister for the opportunity to serve.
Ogundimu assured the Minister of the committee members’ commitment to achieving the national goal within the specified timeframe.
The Housing Data Joint Steering Committee includes representatives from various key organizations, including the Federal Ministry of Housing and Urban Development, National Population Commission, National Bureau of Statistics, Central Bank of Nigeria, Nigeria Mortgage Refinance Company, Federal Mortgage Bank of Nigeria, Federal Housing Authority, Family Homes Funds Limited, Mortgage Bankers Association of Nigeria, Housing Development Association of Nigeria, Real Estate Developers’ Association of Nigeria, and Association of Housing Corporations of Nigeria.
