FG inaugurates new boards for FHA

The Federal Government, last weekend inaugurated the Technical Board, TB and Interim Management Board, IMT, of the Federal Housing Authority, FHA, with a charge to turn around the dwindling fortunes of the authority in the next 18 months. The Government said it is dissatisfied with the performance of the agency which has failed to fully achieve its mandate since inception about 40 years ago.

housingAnnouncing Government’s resolve to reposition the Authority, the Minister of Lands, Housing and Urban Development, Mrs Akon Eyakenyi regretted that FHA’s mandate of providing affordable housing delivery, especially for the less privileged and low income earners, is yet to be met.

The Minister who will chair the Boards, noted that in the past 40 years of its existence, FHA was only able to build 37,000 housing units across the country, an average of less than 1,000 houses per annum.

“The noble objective of the Federal Government to use FHA and its subsidiary as vehicles for bringing affordable housing programmes to the doorsteps of the less privileged and low income earners in Nigeria is yet to be achieved. Since its inception about 40 years ago, the authority has been able to build only 37, 000 housing units across the country (an average of less than 1000 houses per annum).

Currently, the housing deficit in Nigeria is estimated at 17 million units. Studies show that the Authority is handicapped by a number of challenges, including institutional operational losses, teeming legacy debts, poor internally generated revenue base and inability to effectively function without budget,” she said.

The Minister charged the newly inaugurated board and the interim management board to closely supervise the entire process of re-structuring and commercialisation of the FHA on the basis of international best practices.

“Let me emphasise that the main purpose of re-structuring the authority is to enhance its capacity and reposition the agency to serve Nigerians better, bearing in mind our current efforts towards reducing the alarming housing deficits of about 17 million facing the country. In carrying out this exercise, I would like to charge all concerned to endeavor to make it more efficient, effective and at affordable cost.

It is also imperative for the IMT to evolve a more result-oriented and accountable management, based on performance contracts, strengthened financial accounting controls, upgrade of the management information system and to ensure financial solvency through effective cost control and prudent financial management,” the Minister said.

Responding the Chairman of the Board, Prof. Mohammed Al-Amin promised to justify the confidence reposed in them, while thanking the government for giving them the opportunity to serve their father land.