FHA @50: Shelter Afrique Promises To Inject $40 Billion Into Nigeria Housing

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By Abubakar Yusuf.

The Managing Director, Chief Executive Officer Shelter Afrique now Shelter Afrique Development Bank, Mr Thierna- Habib Hann has assured Nigerians of systematic injection of $40B into the construction of houses across the country in the coming years.

Shelter Afrique, a Development Finance Institution ( DFI) , had invested heavily in housing development across the globe.

Mr Hann who made this revelation on Friday during the presentation of a paper via zoom with a theme, “Building A Strong Financial Model for Sustainable Mass Housing Delivery in Nigeria” commended Senator Gbenga Ashafa led Federal Housing Authority FHA on his giant strides in the agency, inspite not listed on the nation’s annual budget.

He said the organization was encouraged to partner with FHA going forward, having carried out a robust policy on housing development and model partnership policy in recent years.

He restated the commitment of Shelter Afrique Development Bank to begin a systematic injection of $20B next year in 2024 , so as to provide mass housing both in Lagos and Abuja and spread to other cities of Nigeria.

“We are particularly elated by the Rent to Own, Echo Friendly, Mortgages and Public Private Partnership PPP arrangements of the Federal Housing Authority FHA, which is line with the best practices, hence our intention to key in” Hann maintained.

The Managing Director stated that the organization will commence it’s housing by keying into the Rent to Own arrangements by 2024, particularly in areas like Lagos and Abuja.

He maintained that Housing development is capital intensive, appealing to Nigerian government to intervene in the coming years as promised, so as to coincide with the global supports from the Shelter Afrique Development Bank.

Hann congratulated the management of Federal Housing Authority FHA for achieving the golden feat, while urging Nigerians to display confidence in the ability of the agency to resolving housing deficit in the country.

The Managing Director assured the Authority that it will take the country to the target of providing 1M houses to it’s citizens annually.

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