The Nasarawa State Government and the Nigeria Mortgage Refinancing Company (NMRC), have signed a Memorandum of Understanding (MoU), aimed at improving investment climate in housing, real estate and construction sectors.
The two parties signed the MoU at a ceremony at the Government House, on Wednesday.
The Secretary to the Nasarawa Government, Barrister Ubandoma Aliyu signed on behalf of the state government, while the Managing Director and Chief Executive Officer of NMRC, Mr Kehinde Ogundimu, signed on behalf of the company.
Commenting shortly after the signing of the document, the NMRC MD, said the MoU will guarantee confidence in investors to come into the housing, real estate and construction market.
Mr Ogundimu expressed strong confidence that with the proximity of Nasarawa State to the Federal Capital Territory, similar to what Ogun is to Lagos, the state is in a position to attract investors.
He disclosed that the firm, having gone into similar arrangements in Kaduna, Ogun, the Ekiti States among others and with visible impacts, has the strong belief that the initiative enables people of the state source finance using their lands, create job opportunities, as well as increase internally generated revenue for the state.
“The initiative is capable of increasing the GDP of Nasarawa State by 20 to 30 per cent,” Mr Ogundimu said.
The MD commended the Governor for his inroads in the areas of road construction, agric and agro-processing, education and most significantly, on security, stressing that the NMRC is encouraged by what is happening in the state.
In his remarks, Nasarawa State Governor, Engineer Abdullahi Sule, said his administration has put lots of effort in this direction because of its focus to provide affordable housing for the people of the state, in line with the Nasarawa State Economic Development Strategy (NEDS).
In this regards, Engineer Sule disclosed that already, his administration has submitted two bills namely, the Mortgage Foreclosure Bill and the Investment and PPP Bill, before the State House of Assembly for passage soon.
According to the Governor, the passage of the two bills will create the opportunity for the Government to open up the state to the world.
Engineer Sule added that his administration is desirous of exploiting the economic benefits of the state’s proximity to the Federal Capital Territory, which remains the biggest advantage for the state.
He pointed out that the goal of his administration is to open up opportunities for the people of the state, just as the Governor restated the commitment of the state government to provide necessary infrastructure, especially roads, water and electricity in Karu Local Government Area, in order to attract housing development.
While thanking the company for appreciating the efforts of his administration to reposition the state, Engineer Sule explained that the state government is making sure to provide the atmosphere for other investors to come, for the benefit of the people of the state.
In a welcome address, Special Adviser to the Governor on Investment and Economic Development, Barrister Ibrahim Abdullahi, said the signing of the MoU, was in line with the policy thrust of the Engineer Abdullahi Sule administration to create enabling environment for investment across different sectors of the state’s economy.
Barrister Abdullahi added that the initiative will open up opportunities in the housing, real estate and construction sector, both in terms of the ability of the people of the state to have the liquidity to afford housing, as part of the administration’s sustainable housing programme.
The NMRC was established in 2015, with a view to promoting the delivery of affordable housing to Nigerians.