The Federal Government on Wednesday charged the Board of the Family Homes Funds Limited to adopt strategies towards providing affordable housing for the low-income earners in the country.
Inaugurating the Board in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the constitution of the Board was part of the significant steps taken by the present administration to address the housing needs of low-income earners in the country.
Edun highlighted the Fund’s mandate to include fostering an inclusive environment, creating jobs, and eradicating poverty in line with the Renewed Hope Agenda of the present administration.
The Minister expressed confidence in the ability of the Board members to deliver on their mandate of the Fund, saying their selection process was strictly merit-based.
The Chairman of the newly inaugurated Board, Ademola Adebise, who spoke on behalf of other members, acknowledged the call to duty, stating that their mandate was to provide affordable homes for low-income earners in Nigeria, in line with the policy objectives of the government
He assured that members would bring in their wealth of experience to bear to ensure the realization of its mandate.
The Permanent Secretary, Federal Ministry of Finance, Mrs Lydia Shehu Jafiya, in her remarks said there was no doubt that the Board Members who were appointed based on their expertise in various fields of endeavour would not let the nation down in the discharge of the responsibilities.
She assured the Board of the full support of the Minister of Finance in ensuring the full implementation of government policies and programmes that positively impact on the lives of millions of Nigerians.
On his part, the Permanent Secretary, Special Duties, Okokon Ekanem Udo, said the assignment of the Board was very crucial, considering that a home was very essential to human life, and no government would like to toy with it.
He called on the Board members to ensure they brought in their wealth of experience to bear in fulfilling their mandate to realize the policy thrust of the government
The Board Members, comprising seasoned and experienced professionals from various fields, include Abdul Mutallab Muktar as the Managing Director/Chief Executive Officer; Henry Emeka Inegbu, Executive Director Operations; Abdullahi Musa, Executive Director (Finance); Dr. Eniang Nkang, Non-Executive Director; Sam N. Okagbue, Non-Executive Director; Dr. Armstrong Ume Takang, Non-Executive Director (MOFI Representative), Sybil Etuk, Non-Executive Director (NSIA Representative); Bilkisu Usman, Member, and Abubakar Bello, FHFL Representative.
Meanwhile, the Nigeria Sovereign Investment Authority (NSIA) is exploring strategies to bridge the existing infrastructure financing gap in the economy.
A delegation from the agency, which successfully funded the construction of the 2nd Niger Bridge project, the Lagos-Ibadan Expressway, and other key infrastructure across the country held a meeting with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun on Wednesday to discuss innovative solutions towards addressing Nigeria’s infrastructure financing gap.
The meeting held in Abuja proposed the establishment of a Nigeria Infrastructure Finance and Guarantee Facility (NIFF), a dedicated provider of credit and guarantees for local infrastructure projects.
The NSIA delegation, led by Managing Director/CEO, Aminu Umar-Sadiq, included Kola Owodunni, Executive Director and Chief Investment Officer; Victor Sesere, Financial Controller; Tolu Adeleke, Partner at PriceWaterhouseCoopers, and Olumorin Motunrayo, a Senior Assistant at PwC
The Minister of Finance said the proposed NIFF would help bridge the infrastructure financing gap by providing a stable source of funding and guarantees for critical projects.
He said the strategic partnership between the Federal Government and NSIA was a demonstration of the commitment by the present administration to drive economic growth and development through innovative financing solutions in the economy.
