FG, FMBN approves N14b to over 2000 Nigerians to own house



The Federal Governnent in conjunction with Federal Mortgage Bank of Nigeria, ( FMBN) has approved the sum of N14b National Housing Fund loan to over 2000 loan applicants who are National Housing Fund contributors.

Speaking on the occasion of commissioning ceremony of a 100 completed FMBN- NLC/ TUC/ NECA Housing Estate Under the National Affordable Housing Delivery Programme for Nigerian Worker’s, in Dutse, the Executive Director Loans and Mortgage Service unbehalf of the MD/ Chief Executive, FMB.

Lukman O Mustapha stated the 100 housing unit’s about to be commissioned comprise if 24 unit’s of 1- bedroom, 36 unit’s of 2- bedroom and 40 unit’s of 3- bedroom bungalows, stressing the Estate is fully serviced with basic infrastructure including internal road/ drinages, and electricity.

He said this journey started in 2013 as part.of the Banks corporate strategy of building productive synergies with critical stakeholders to boast the provision of affordable housing in the country.

According to Mustapha the FMBN/ NLC/ TUC/NECA Housing Delivery program is designed to be implemented in phases, the bank has successfully delivered a total number of 28 housing project’s across the six geo political zones of Nigeria, delivering about 3000 unit’s in the prices, stating the programme we are launching in jigawa today was amongst of them.

According to him, the FMBN remains the only institution offering affordable mortgage to Nigerian’s at less than 10 per cent through products like the individual NHF loan, Individual NHF construction loan, Home Renovation loan and the Rent to own product. Also we offer cooperative Housing Development and Home Construction Loan to Estate Developers at 10 per cent.

Furthermore stated from January to date the Federal Mortgage Bank of Nigeria has commissioned more than 1,000 houses in 8 states in the federation, while under the second phase we commissioned two estate projects in Lagos, and four in Katsina state, one in Anambra and 4 In Enugu state last week.

Earlier in his speech, the representative of Governor Badaru Abubakar, Hon Sagir Musa said jigawa state government has demarcated over 3,500 land mass for the erection of forty, forty housing unit’s to NLC member’s in the 27 LGA’S in jigawa state under it’s housing provision to worker’s scheme.

Musa who was also the jigawa state Commissioner of Land, Housing and Urban Development commended the Federal Government Housing loan scheme for workers across the country, and assured of state government support to the programme at all times.



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