Govt to construct 3,600 housing models for staff

From Ogochukwu Anioke, Abakaliki

The Federal Government is ready to assemble  over 3,600 new low price housing models throughout the 36 states of the federation.

Managing Director, Federal Mortgage Bank of Nigeria, Ahmed Musa Dangiwa, said this in Abakaliki, the Ebonyi State capital in the course of the inauguration of the financial institution’s new workplace complicated within the state.

He mentioned the plan was in step with the directive from President Muhammadu Buhari to the financial institution to assemble at the least 100 homes in every state.

“President of the country ordered us to build hundred houses in every state of the federation. Once we are given land in every state, we will build 100 bungalow for the state,” he mentioned.

The MD mentioned the scheme was established to supply inexpensive mortgages to drive residence possession amongst staff, significantly the low and medium earnings earners.

He mentioned this was being accomplished by the National Housing Fund(NHF) scheme into which staff each in the private and non-private sectors contribute 2.5 p.c of their month-to-month earnings.

“Through this scheme, the financial institution has continued to supply inexpensive mortgages to staff and development finance for housing growth,’’ he added.

“Our National Housing Fund (NHF) loans, granted at 6 percent, is the most affordable in the country. We also have the FMBN Home Renovation Loan(FHRL) with liberalised conditions for easy access by Nigerian workers while the rent-to- own product and individual construction loan have also been introduced to further facilitate home ownership for Nigerians particularly civil servants”

Mr Dangiwa mentioned the lively participation of Ebonyi State staff within the NHF scheme had resulted in a mutually useful relationship with the financial institution.

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