The Financial System Strategy FSS2020 would partner with the Mayor of Borough of Brent, Mr Ernest Ezeajughi, to provide affordable housing for Nigerians.
Mr Muhammed Suleyman, director of the system, said this on Friday when Ezeajughi paid him aa courtesy visit to chart a way forward for the housing challenges of Nigeria.
Suleyman said the FSS2020 was established in 2006 to work with other key stakeholders and transform Nigeria’s financial landscape with a view to making the country’s economy one of the top 20 by the year 2020.
Suleyman stated that FSS2020 was willing to learn from the Borough of Brent to develop a housing model for Nigeria.
He stated that Nigeria had a big housing deficit and FSS2020 was ready to work with the Borough of Brent and other stakeholders to adopt the Brent’s approach.
He said there was need for FSS2020 and other stakeholders to turn around the mortgage sector in order to address the country’s inadequacy in housing.
Suleyman informed Ezeajughi that both the Federal Mortgage Bank of Nigeria (FMBN) and Nigerian Mortgage Refinancing Corporation (NMRC), lends money to developers, including primary mortgage institutions for the provision of housing.
Earlier, the Nigerian-born Mayor said that Brent had different categories of housing made up of private housing, affordable housing and social or council housing.
He stated that these housing were intended to support low income earners and those who could not afford to buy their own houses.
He said the Borough of Brent would share ideas with FSS2020 on a practical approach to scale up the provision of housing in Nigeria.
Ezeajughi said Brent would collaborate with FSS 2020 to see that housing was provided for Nigerians at affordable prices. (NAN)
