By Abbanobi -Eku Onyekachi
Through the Senate Committee on Housing and Urban Development, the Senate has entered into a partnership with the Ministry of Finance Incorporated (MOFI) to tackle the country’s housing challenges.
This development was announced by the Chairman of the Committee, Senator Aminu Tambuwal, during an interactive session with the Managing Director of MOFI, Dr. Armstrong Takang, and his team in Abuja.
MOFI, a corporate entity established by an Act of Parliament in 1959, is responsible for managing the Federal Government’s corporate investments. The partnership between the Senate Committee and MOFI aims to bridge the housing gap in Nigeria. Senator Tambuwal revealed that MOFI is expected to access N1 trillion, which will be injected into the housing sub-sector of the economy.
This significant investment is expected to have a profound impact on the housing sector. As Senator Tambuwal noted, “This is by no means a small target and is very important.” The partnership is a crucial step towards addressing the country’s housing needs, and it is hoped that it will lead to the development of more affordable housing units for Nigerians.
The collaboration between the Senate Committee and MOFI is also expected to facilitate the implementation of housing projects across the country. With MOFI’s expertise in managing corporate investments, the partnership is poised to make a significant difference in the housing sector.
In addition to addressing the housing gap, the partnership is also expected to have a positive impact on the economy. The investment of N1 trillion in the housing sub-sector is likely to create jobs and stimulate economic growth.
The Senate Committee’s partnership with MOFI is a welcome development, and it is hoped that it will lead to the development of more affordable housing units for Nigerians. As the country continues to grapple with housing challenges, this partnership is a crucial step towards addressing the needs of citizens.
In conclusion, the partnership between the Senate Committee on Housing and Urban Development and the Ministry of Finance Incorporated is a significant development in the country’s efforts to address its housing needs. With the investment of N1 trillion in the housing sub-sector, it is hoped that the partnership will lead to the development of more affordable housing units for Nigerians.
