Nigerian Federal Ministry Rapidly Expanding

Nigerian Federal Ministry

Rapidly expanding cities have significantly contributed to an ever increasing deficit in housing, among other widespread problems. This is experienced in cities throughout the world as infrastructure is developed in order to accommodate growing urban populations. Problems associated with this rapid growth, including housing deficits, present major obstacles for economic growth and development, especially in developing nations throughout the world.

Nigeria is no stranger to this phenomenon of rapid urban growth. The increasingly expanding cities, and the problems that accompany this expansion, forced the federal government to seriously address issues surrounding housing and urban development. In response to this crisis, the Nigerian government created the Federal Ministry of Housing and Urban Development in July of 2003. This federal ministry was made responsible for ensuring the deliverance of adequate and sustainable housing, as well as the maintenance of a living environment that is conducive to meeting the aspirations and needs of the citizens of Nigeria.

The purpose of the establishment of the Federal Ministry of Housing and Urban Development in Nigeria was to provide several services to Nigerian citizens, both homeowners and non-homeowners. These services include: handling and supervision of projects conducted by the Federal secretariat; the provision of infrastructure projects involving site and services estates as well as shelter initiatives; issuing og certificates indicating occupancy; compiling inventory of Federal government fixed assets; implementing the National Sites and Services Programme; establishing a support office for the UN-HABITAT program; the provision of a Prototype Housing Scheme; fire fighting and prevention; the development of blueprints for effective planning; development of the housing facilitation scheme; the rehabilitation of Federal Secretariats among the states; the modernization and computerization of the Federal Land Registry; implementing various sites and services; implementing programs for urban renewal and slum upgrading; development of the Sustainable Cities Program; implementing Latterite Brick Projects; establishing of libraries and the Urban Management Information System (UMIS); and implementing the Grievance Redress Mechanism (GRM).

The aim of the Federal Ministry of Housing and Urban Development in the provision of these services is to facilitate and promote housing that is adequate, decent and affordable for all Nigerians, regardless of economic or social standing. The focus is to ensure this decent standard of housing in both rural and urban settings in order to encourage decent and healthy living environments. The ministry strives to achieve this goal through the establishment of a system of housing delivery that is both sustainable and ensures easy access to home ownership by all Nigerian citizens. This promotion of home ownership is focused on environments in Nigeria where fundamental physical and social amenities are available.

Involvement in this particular Federal Ministry of Nigeria is interesting to me due to my personal interest in international real estate development. On the international level, the development of real estate has grown considerably over the past few years. These developments are exciting to me, and I'm specifically interested in and focused upon investment in the economic development and prosperity of third world countries like Nigeria through real estate development.

If I could head the Nigerian Ministry of Housing and Urban Development, my first priority would involve expanding upon the initiatives forwarded by the Presidential Committee on Housing and Urban Development that was established in May of 2001. This committee was created for the restructuring of the Federal Housing Authority, the Federal Mortgage Bank of Nigeria (FMBN), the Urban Development Bank of Nigeria (UDBN), and Federal Mortgage Finance Ltd. The goals of this committee were to further promote and ensure efforts were being made towards the aims outlined by the Federal Ministry of Housing and Urban Development.

My first step in implementing programs for this ministry would involve further attention towards the restructuring of the above mentioned entities involved in real estate issues in Nigeria. This restructuring would involve first conducting research into how other countries with similar cultural and economic conditions to Nigeria conduct matters involving real estate. The focus in this research would be on initiatives that have been proven successful compared to those that have not. This type of investigation would provide clarification as to the direction that restructuring should take. After this direction is made apparent, it would then be necessary to systematically assess individual aspects of all sects within the Federal Ministry of Housing and Urban Development in order to identify where beneficial changes could be made. The short-term goals of this restructuring would include immediate improved organization and efficiency within the Federal Ministry. The long-term goals would involve the improving the access to and provision of real estate services to citizens of Nigeria, in order for the improvement of economic conditions. Financially, this restructuring may involve increased expenditure at the outset, but the long-term results would yield improved financial conditions for the entire Nigerian populace. These improved conditions would stem especially from the establishment of affordable, decent and adequate housing for Nigerians in all secured rural and urban areas.

The second step I would take in the implementation of programs within the Federal Ministry of Housing and Urban Development would involve securing private sector investment in the initiatives set for by the ministry. In particular, I would set forth efforts to seek out bilateral and multilateral assistance for the promotion of housing and urban development. The aim of these efforts would be to acquire adequate funds in order to facilitate both the restructuring process as well as the execution of programs within the ministry. The short-term goals associated with the acquisition of private sector investment include the funding of research that is necessary and integral to the restructuring process. The long-term goals of investments involve the availability of widespread effective financial services to aid Nigerians in the pursuit of homeownership of decent, adequate, and affordable property. The acquisition of private sector investment in the programs of the Federal Ministry of Housing and Urban Development would ultimately benefit Nigerian citizens by improving economic and social conditions through the provision of the fundamental need of housing within a healthy and sustainable environment.

My personal career goals include gaining further practical experience in International real estate and development. My passion for international real estate thus far has resulted in the acquisition and development of extensive profession experience in various locations throughout the world, including Nigeria, China, and England. With regards to my experience in Nigeria, in December 2005 I took the opportunity to work as an investment banking intern at Skye Bank in Lagos, Nigeria. I was assigned to function within the Real Estate Group, with the goal of acquiring a $50 million line of credit from various investment sources for ten-year tenure. This line of credit was sought for the purpose of facilitating effective mortgage financing on behalf of Skye Bank. I in turn created a marketable proposal for this line of credit by researching the Nigerian property market as well as Skye Bank's housing projects and home loan portfolio.