Why fmbn seeks state govts collaboration on affordable housing

FMBN (Federal Mortgage Bank of Nigeria) seeks collaboration with state governments on affordable housing for several reasons:

  1. Increased Access to Land: State governments have control over land allocation and can provide FMBN with access to land at affordable prices, making it easier to develop housing projects.
  2. Reduced Costs: By partnering with state governments, FMBN can reduce the costs associated with land acquisition, infrastructure development, and other expenses, making housing more affordable for Nigerians.
  3. Improved Infrastructure: State governments can provide essential infrastructure such as roads, water, and electricity, which are crucial for the development of housing projects.
  4. Enhanced Security: State governments can provide security for the housing projects, ensuring the safety of residents and investors.
  5. Increased Funding: Collaboration with state governments can attract additional funding from both federal and state governments, as well as private investors, to support affordable housing initiatives.
  6. Streamlined Processes: State governments can simplify the process of obtaining necessary permits and approvals, reducing the time and cost associated with developing housing projects.
  7. Increased Supply: By partnering with state governments, FMBN can increase the supply of affordable housing, addressing the housing deficit in Nigeria and improving the overall quality of life for citizens.
  8. Job Creation: Affordable housing projects can create jobs and stimulate economic growth in the construction and related industries, contributing to the development of local communities.
  9. Improved Living Conditions: By providing affordable housing, FMBN can improve the living conditions of Nigerians, reducing the risk of homelessness and improving overall well-being.
  10. Alignment with National Development Goals: Collaboration with state governments aligns with FMBN's mandate to support the Federal Government's efforts to achieve national development goals, including the provision of affordable housing for all Nigerians.

By working together with state governments, FMBN can leverage their resources, expertise, and networks to deliver affordable housing solutions that benefit Nigerians and contribute to the country's economic growth and development.