Arc. Ahmed Musa Dangiwa, Nigeria’s Housing Minister, has advocated for the adoption of innovative financial instruments and mechanisms to tackle the country’s significant housing deficit. In a statement addressing stakeholders in Abuja, Minister Dangiwa emphasized the limitations of traditional financing models in meeting current housing needs.
“While traditional financing has played a role, it is imperative that we explore and embrace new financial instruments to bridge the housing deficit,” stated Minister Dangiwa. Nigeria faces a considerable gap in affordable housing, with millions of citizens lacking access to decent and affordable accommodation.
Minister Dangiwa highlighted the importance of leveraging technology and modern financial practices to attract investment and streamline the housing development process. He emphasized the need for public-private partnerships and innovative financing solutions that can mobilize resources effectively and sustainably.
“By harnessing new financial mechanisms, we can unlock opportunities for both developers and prospective homeowners, promoting inclusive growth and economic stability,” added Minister Dangiwa. He called for collaborative efforts among government agencies, financial institutions, and the private sector to accelerate progress towards closing the housing gap.
Nigeria’s housing sector has been identified as a critical driver of economic growth and social development. Minister Dangiwa’s call for innovation in financing reflects a strategic approach to addressing systemic challenges and creating lasting solutions for affordable housing across the country.
As Nigeria moves forward, stakeholders are encouraged to explore and implement innovative approaches that not only expand access to housing but also contribute to broader economic resilience and prosperity for all citizens.
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