Ojo; Hitting The Ground Running In FHA | News Proof



Ojo; Hitting The Ground Running In FHA

By Abubakar Yusuf

The new Managing Director, Chief Executive officer CEO, Federal Housing Authority FHA, Hon Oyetunde Oladimeji Ojo was appointed by President Bola Ahmed Tinubu on February 15th, 2024 along with his management team to boost his Renewed Hope Agenda in the housing sector in the country.

With decades experience in the real estate business both in the private and public sector, Ojo secured the nod of Nigeria government to enable him contribute his quota to national development, with huge wealth of experience.

Ojo who assumed duty after the inaugural ceremony held on Thursday, February 22nd ,2024 described  the leadership  as a"new sheriff in town ".

"Hon Oyetunde Ojo, has reiterated the readiness of the Authority’s new Executive Management Team to turn around the agency's fortune in line with the Renewed Hope agenda of President Bola Ahmed Tinubu GCFR."

"Hon Ojo who revealed this at the inaugural meeting on Thursday, 22nd February  2024, between the Hon. Minister of Housing and Urban Development Arc Ahmed Musa Dangiwa with the agencies under his ministry. "

"The MD, who said he has noted the lapses on the side of the Authority as was contained in the Hon Minister's address, stated  that  his team would do everything to return FHA to the path of glory.and success. "

"According to him," a new sherif is in town. Our mission is to help Mr. President realize the Renewed Hope agenda of his government ".

Through to his statement, he promised to key in with a view to revolutionizing the housing sector in line with the aspirations and expectations of the Renewed Hope Agenda of President Bola Ahmed Tinubu.

Ojo who was visibly prepared for the new assignment stated that the era of needles bureaucracy has become a thing of the past , stating he will be working day and night , both in the rain and the sun to meet the expectations of the government and it's anxiousness to deliver affordable mass housing to ordinary Nigerians.

In his maiden brief to journalists and playing host to the management of Shelter Afrique Development Bank, a financial institution that supports development of housing and real estate sector which Nigeria is a leading member to familiariase with the new leadership and administration of President Bola Ahmed Tinubu,  at the same time kick start thr arrangements to invest quantum amount of Multi Billion Dollars into housing development in Nigeria.

The significance of the meeting showed the willingness and enablement of the new leadership to tackle housing deficit in Nigeria headlong, with a promise to provide not only affordable houses, but for low income earners across the country.

He stated that the era of using Lagos and Abuja as a template for measuring the success and achievements of previous leadership in FHA has gone for good , as the new leadership will spread across the 36 states of the country including the Federal Capital Territory FCT.

"We want to see the new FHA making giant strides and in road in housing in Ekiti, Yobe, Kebbi , Sokoto , Ebonyi, Benue among many other states in the country." He opined.

The new Managing Director who described the visit of the global financing outfit for real estate as timely promised to work assiduously with the leadership to realize it's investment in the housing sector in Nigeria not for 2024 alone , but going forward particularly keying into tue new design of studios, one bedrooms , two or three bedroom apartments along with the newly embraced "rent to own " arrangements in line with the  new administration's commitment of providing shelter for Nigerians.

He said Nigeria as a founding member and strong key player cannot afford cannot afford not to tap into the huge investment of the Bank across the world to the benefits of the dire need for shelter by Nigerians.

The leadership of FHA demanded an increase of investment into housing in the country considering the growing need for more affordable houses by Nigerians of all strata from the Bank.

"The FHA will be ready to key into your global arrangement of PPP, Project Finance, Fund Management Group, Project Prepayment fund among many others to deliver on its mandate."

Since the focus of the new FHA is to provide affordable houses to the people at the grassroot, all hands must be on deck to embrace the new spirit by the new leadership along with the followership. He stated.

Soon after the working and courtesy call by the management of Shelter Afrique, FHA doles out 72M cheques to seven beneficiaries of Retirement Saving Account RSA, the first of it's kind in Nigeria on February, 29th , 2024.

In his address at the occasion, while commending both the management of Federal Housing Authority Mortgage Bank FHAMB and the Nigeria Pension Commission PENCOM, he requested for more beneficiaries beyond the symbolic presentation, while the Bank's management stated that over 100, 000 beneficiaries had been recommended for the new scheme.

With the new disbursement of the 25% RSA, beneficiaries will be enabled into entering into mortgage arrangements with the Bank with a view to providing shelter even while in service in addition to the National Housing Fund NHF and Mortgage loans.

FHAMB as one of the recognized primary mortgage institutions PMI had access to RSA fund for it's customers spread across all government agencies and departments.

The management of FHAMB presented a detailed arrangements of the new platform that will attract revenue of over 1B to the Bank at a stretch , promising to go beyond 100, 000 beneficiaries in the course of time.

"In his words , Ojo reiterated the commitment of the present management and administration of President Bola Ahmed Tinubu under his Renewed Hope Agenda seeing the problems of housing resolved by all means possible, stating that more actions should be redoubled towards increasing the beneficiaries of the RSA."

"For me , I don't stick to my address, I like to speak generally on the observation of any shortcomings of any program.
Let us do more to increase the beneficiaries across board, even though this is a good start."  Hon Ojo stated.

Ojo who also embarked on familiarisation visit to all departments in the agency along with his management team tasked the head of various units to be alive to their responsibilities in line with the new spirit.

He promised to embark on visitation to the six geopolitical zones comprising of 36 states which he has already started.

It is obvious that with the new zeal and template, the new leadership high deliverable expectations will resolve the lingering housing deficits in the country.

Written BY ABUBAKAR YUSUF on [email protected].

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