The Federal Government through the Federal Mortgage Bank of Nigeria (FMBN) has unfolded plans to deliver 100,000 housing units in five years.
Also, it disclosed plans to commence work on the delivery of 5,000 housing units under the National Economic Sustainability Plan (NESP) that was recently approved by the Federal Executive Council (FEC) to stimulate economic growth and create jobs.
The Managing Director/Chief Executive Officer of the Bank, Arc Ahmed Musa Dangiwa, made the disclosure when the Minister of Interior, Ogbeni Rauf Aregbesola, paid him a visit on Mass Affordable Housing Scheme for officers of Paramilitary Agencies under the Ministry. Participants.
In a statement issued on Sunday and signed by Lawal Sauri, Head, Corporate Communications Group, Dangiwa said the bank through its Mini Cities’ Project, is targeting the development of the 100,000 housing by delivering 20,000 units annually over the period of years.
He said the houses will be developed in prime locations across the country with units ranging from 1000 to 2000 housing units of 2-3-bedroom block of flats and some terraces.
Dangiwa explained that construction of the Mini Cities will be carried out in collaboration with reputable real estate developers.
To ensure quick and timely delivery, he stated that off-takers are to be profiled at the inception of each project.
“The FMBN is constantly evolving new initiatives, developing new products all of which are aimed at expanding access to affordable housing and mortgage finance not only for civil servants but for the generality of Nigerians. This proposal is borne out of the recognition of the efforts of the Men and Women of our Paramilitary Services towards safeguarding the lives and properties of Nigerians,” the statement quoted him as saying.
On the 5000 new homes, he said the FMBN in line with its mandate to increase access to affordable housing to Nigerians is ready and committed to forging a firm partnership with the Ministry of Interior towards improving the welfare of paramilitary services in the area of homeownership.
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