FG to provide 4,000 housing units in Abuja

on   /   in Finance 8:03 pm   /   Comments

The Federal Government has said it will build 4,000 housing units at Ushafa in Bwari Area Council of the Federal Capital Territory (FCT), stressing that this will provide accommodation for Federal Capital Territory Administration (FCTA) workers under National Housing Fund Scheme.

Minister of State for FCT, Ms. Olujomke Akinjide, disclosed this, while addressing  journalists, saying  that the effort was part of the government’s commitment to provide affordable accommodation for the people.

“The present administration is resolutely committed to the provision of housing to its citizenry. The importance of shelter to human development cannot be overemphasized. In hierarchy of needs, shelter is next to food. Government is committed to bridge the housing deficit gap in the country and this effort  is part of the whole package of government in housing delivery sector”.

Mr.Gimba Y. Kumo, Managing Director, Federal Mortgage Bank of Nigeria (FMBN) stressed that, the huge housing deficit in Nigeria and FCT in particular.

He said “Given the  housing deficit currently existing in the country and the fact that the FCT and its environs are facing enormous pressure due to high demands for affordable housing, it is apparent that institutions such as FMBN are heavily relied upon to provide the levels of financing required to meet these demands”.

As part of the moves to fulfill its mandate in housing sector, Kumo said that within this year alone, the bank launched two new products with a view to expand and improve its services through National Housing Fund Scheme.

He explained that the two products are FMBN Informal sector Co-operative Loan and NHF eCollection platform. Emphasizing more on these products, he added  that in the past 12 months FMBN has launched two new product geared at expanding and improving its services through the National Housing Fund Scheme.

The first product is FMBN Informal sector Co-operative Society Loan Scheme aimed at expanding Mortgage loans to the Informal sector such as farmers, artisans and so on using housing co-operative as mechanism for mobilization and integration.

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