HDAN to lead members to the Minister of Housing, National Assembly to address obsolete laws affecting real estate development

Pioneer Housing Development Civil Organization in the Nigeria Housing and Construction Industry, Housing Development Advocacy Network HDAN has said it will lead its senior members in the industry to the honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa in the next few weeks and to the Chairmen of Housing in the National Assembly to commence the process of amending all the obsolete laws affecting the growth of real estate development in Nigeria.

This was revealed in a statement signed in Abuja on Friday by the Executive Director, Festus Adebayo who noted that HDAN is set to engage all policy makers that can assist in the amendment of laws that have become an impediment to the development of housing in Nigeria.

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“We are very pleased to let everyone know that the issues of laws amendment that will contribute to the growth of housing development in Nigeria is on the priority agenda of the honourable minister of Housing and Urban Development who is a senior member of Housing Development Advocacy Network HDAN, and an awardee of affordable housing hall of fame in Nigeria.”

“I can let you know that engaging him is an indirect way of letting him know that we are set for the national assembly to begin the process of amending necessary laws that will contribute to the growth of the sector, and therefore, the essence of engaging the minister is to enable get the ministry to collaborate us and endorse our action on this very important step.

“As you all are aware, we have launched a TV channel for the purpose of increasing our advocacy for the development of the sector. We are committed to getting an enabling environment that will attract more private and corporate real estate investors into Nigeria. In real estate lies great opportunities that can make Nigeria grow and increase its economy faster. On that note, we’d leave no stone unturned in supporting the federal government of Nigeria. We are ready now for action, the Tinubu govt is going to 6 months old.

“We are aware that govt may not have enough resources to embark on massive housing projects, but we can focus on policy formulation and pursuing of necessary laws for now.I can assure u that if the necessary enabling laws are in place the private sector will provide the finance to drive development. This is one important aspect we need from the government.

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“I can assure you, when we get the National Assembly to review the FMBN Act, Mortgage Bank Act, FHA Act, and enabling laws to support the existence of Family Homes Funds, Nigerian Mortgage Refinance, and even towards the establishment of Mortgage Guarantee Company, our country will be better.This institutions will do better

“Among the laws we are looking into presentations is the Pension Act. This is because pension funds are not rightly utilized for housing like they are in other countries of the world.

“We will also look at the NHF Act, the last time we checked, insurance and banks are not contributing. So we are taking it up to the National Assembly, as opposed to the court for support” he added.

Adebayo further noted, that four other NGOs that have developed an interest in the welfare of mankind and the right of citizens to housing will be joining the movement.

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