OPIC signs MOU with mortgage banks to boost home ownership

The Ogun State Property and Investment Corporation (OPIC) has signed a Memorandum of Understanding (MOU) with primary mortgage banks (PMBs), and the Nigeria Mortgage Refinance Company (NMRC), the key driver of mortgage policy designs in Nigeria, to relieve the populace of the hardship of owning standard houses at affordable prices.

The MOU, recognised by NMRC as a ‘landmark’ partnership agreement with OPIC, Imperial Homes, TrustBond and Homebase mortgage banks was in continuation of its mandate to stimulate housing development in the country.

In his reaction, the Managing Director, OPIC, Mr Babajide Odusolu said, “The partnership holds great promise for the achievement of the corporation’s plans to hit the target of being the dominant provider of quality and affordable housing in Ogun State.”

Meanwhile, at the 11th edition of the Abuja International Housing Show and Award, held at International Conference Centre, Abuja OPIC bagged an award as ‘Innovative Real Estate Developer of year 2016 / 2017.’

This was in recognition of OPIC’s immense contribution to ‘providing affordable accommodation in a world-class, secured, peaceful and serene environment in support of the urban renewal agenda of Senator Ibikunle Amosun led administration in Ogun State.’

In a press chat, Director, Business Development OPIC, Mr Dehinde Boye, who received the award on behalf of OPIC, said the award was for adopting various construction technology to solve key housing problems in Nigeria.

He added that OPIC was able to introduce unique technology in building houses having discovered it as one of the fastest and easiest way to transfer wealth to the teeming populace through urban development and renewal.

“This technology is currently in use in New Makun City, Sagamu Interchange for the OPIC / NMRC Mortgage housing units, also used for the construction of Mitros Residences at Gateway Hotels, Abeokuta, Ogun State,” said Boye.