The Federal Ministry of Housing and Urban Development and the International Finance Corporation (IFC) have agreed to deepen collaboration towards the successful implementation of President Bola Tinubu’s action plan for housing and urban development in Nigeria.
The Ministry’s Plan comprises housing reforms and initiatives that aim to deliver decent, affordable, and quality housing to Nigerians across all income segments.
Minister of Housing and Urban Development Architect Ahmed Musa Dangiwa spoke in Abuja on Tuesday when he received a delegation from the IFC, led by Dr. Dahlia Khalifa, the Regional Director, Central Africa and Anglophone West Africa, underscored the important roles of the IFC.
Represented by the Minister of State, Alhaji Abdullahi Tijjani Gwarzo, Dangiwa, however, noted that Nigeria was yet to maximise its partnership with the body, especially in the area of housing and urban development.
“I am aware that the ministry has had several interactions and engagements with the IFC in the past. However, it seems that we have not maximized our partnership with the IFC to empower private developers and the ministry to deliver at significant scale decent and affordable housing to Nigerians.
“Upon reviewing your 2023 Annual Report, I noticed that the IFC has committed over $128.3 billion in loans, grants, investments, and guarantees to partner countries and private businesses. In Sub-Saharan Africa, the report indicates that the IFC committed over $38.6 billion. What remains unclear to me is the specific amount of this investment that flowed into Nigeria, both for the country and private businesses” Dangiwa said.
He noted that the focus and priorities of the new government require an enhanced and expanded partnership with the IFC.
The minister reiterated the ministry’s commitment to creating an enabling environment for the private sector to thrive
The Senior Country Manager of the IFC, Kalim Shah noted that housing is a major focus of the IFC across Africa where they service both the supply and demand sides of the industry.
He said the purpose of the visit was to understand what the ministry is doing and see how the group can partner and support their efforts to enhance the delivery of affordable housing to Nigerians.
