Hon Bala Ka’oje, former Minister of Youth and Sport is a developer and member of Nigeria’s premier housing body, the Real Estate Developers Association of Nigeria (REDAN).
Ka’oje spoke in Abuja giving reasons the Federal Mortgage Bank of Nigeria (FMBN) can hardly be used to meet Nigeria’s housing need.
The former minister denied that the Estate Development Loan (EDL) window of FMBN was abused by REDAN members, pointing out that where FMBN is led by a banker whose interest is only to make profit rather than a professional whose focus will be to deliver affordable houses is no good.
According him, by lumping housing with other sectors and appointing a nonprofessional in the field as head, President Muhammadu Buhari acted in error. His advice is, should Buhari retain power this year, he should emulate the Shehu Shagari and Sani Abacha housing initiatives.
Read full interview on Monday. It is quite informative and incisive.