By Faridat Salifu
The Council of Registered Builders of Nigeria (CORBON) has renewed calls for the recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN) to enable it address Nigeria’s housing deficit.
Addressing journalists in Abuja on Wednesday, December 11, as part of activities marking CORBON’s 35th anniversary, the council’s chairman, Dr Samson Opaluwah, lanented the inadequacy of the bank’s current capital base of N2.5 billion to meet the housing needs of Nigeria’s 220 million citizens.
“Even in Abuja, N2.5 billion can only provide a handful of structures. It is grossly insufficient to achieve the FMBN’s mandate,” Opaluwah said.
Although the federal government, through the Minister of Housing and Urban Development, Ahmed Dangiwa, announced plans in February to raise the bank’s capital base to N500 billion, the chairman expressed disappointment that the proposal remains unimplemented.
Opaluwah urged immediate action to actualise this plan.
Opaluwah, who urged immediate action to actualize the plan, also advocated the liberalisation of mortgage access, particularly for young people, including fresh graduates.
He noted that the stringent conditions for securing mortgages currently exclude most young Nigerians, leaving them vulnerable to high rental costs.
“We need policies that enable young people to access affordable housing early in life. Supporting them will reduce their dependency on landlords and foster economic stability,” he stated.
Opaluwah called for the introduction of a comprehensive National Housing Estates Development Policy to ensure the delivery of quality housing across all levels of government.
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He also stressed the importance of recognising and formalising the skills of informal artisans through programmes like the Recognition of Prior Learning (RPL).
“Certifying artisans will improve their self-esteem, enhance the quality of their work, and build capacity within the construction sector,” he said.
The chairman further proposed a national initiative to support entrepreneurship among professionals and tradespeople in the building industry.
This, he argued, would encourage the production of local building materials and the establishment of construction businesses, driving economic growth.
Reflecting on CORBON’s contributions over the past 35 years, Opaluwah highlighted several milestones, including the accreditation of over 50 tertiary institutions offering building programmes and the registration of about 4,000 licensed builders.
He also noted the council’s role in implementing the Federal Government’s National Capacity Building Programme, which trained 50,000 beneficiaries in six construction trades across 250 centres under the National Skills Qualification Framework (NSQF).
“Through the development of National Occupational Standards (NOS), we have provided benchmarks for skills such as masonry, carpentry, and welding, addressing critical gaps in the industry,” Opaluwah explained.
As part of its 35th-anniversary celebrations, CORBON plans to convene stakeholders from Nigeria and the diaspora to showcase innovations in the building industry and explore solutions to sectoral challenges.
Opaluwah reaffirmed CORBON’s dedication to strengthening partnerships with professional regulatory bodies and pushing for the enforcement of the Nigerian National Building Code at federal and state levels.
“Our focus remains on raising the standards of building practices and ensuring professionalism across the sector,” he said. END
Source: People Gazzete
