Business
FHA Boss Wants Agency’s Commercialisation
Mr Terver Gemade, Managing Director of the Federal Housing Authority (FHA), has said that full commercialisation of the authority will make it more proactive.
Gemade made this assertion during a forum in Abuja recently.
He explained that the initial plan to commercialise the authority was not perfected by the Bureau for Public Enterprise (BPE) because of certain logistics.
“As a parastatal (Agency) we moved from the budget, and so we were to be commercialised,’’ the managing director said.
But he added that the “commercialisation actually was not even perfected by the BPE; so, we are neither commercialised or in the budget anymore’’.
The managing director further said: “And so we are some how in the balance, and the only way to survive is to just take to the money market.’’
Gemade said nonetheless that the authority had re-started the process of commercialisation, noting that there were certain conditions that should be met.
“Conditions, like you know, tidy up our books and financial statement of every year, and then put our house in order and there were also other certain conditions that they demanded,’’ he said.
The managing director said the FHA was putting those things for the BPE to determine whether the authority could be fully commercialised.
On the Vision 20:2020 target of one million housing units, Gemade said that it could be achieved if all the governments and all the agencies involved supported the initiative.
According to him, the FHA alone cannot meet the target, stressing that all hands must be on deck.
He added: “We believe that the target that has been set by the Vision 20:2020 team of producing a million houses a year could be achievable if government gives support to it.
“The one million houses are not supposed to be provided by the FHA alone. They are supposed to be provided by FHA, by government agencies, by state housing corporations, by local governments and private developers.’’
The managing director noted that when all the groups and people concerned about housing were involved, achieving one million housing units a year would be possible.
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