FG Plans New Strategies To Tackle Housing Deficit

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Members of the Coalition of FCT Indigenous Association, barricading the SGF's gate, during a protest against the alleged forceful takeover of their lands in Abuja, recently.

The Federal Government has restated its readiness to address housing deficit in the country through the introduction of new strategies designed to assist low-income earners and pensioners.
The Deputy General Manager, Federal Mortgage Bank of Nigeria, Sunday Ogunmuyiwa, stated this in Osogbo, Osun State, at a day seminar organised by the bank to sensitise the state and private sector employees to the need to join the scheme.
He said the FMBN had introduced a couple of new services to underscore its readiness to make houses available and affordable to more Nigerians.
“The services are individual construction loan, home renovation loan, rent-to-own loan scheme and Cooperative Housing Development Loan, among others. The National Housing Fund Mortgage Loan is still very much active and available to contributors,” Ogunmuyiwa said.
He assured the people that the bank would ensure that retirees, contributing to the NHF scheme, would get their refunds processed within three months of application.
In his remarks, Osun State Coordinator of the FMBN, Arowolo Babatunde, lamented that accessing long-time credit facility for home acquisition or development of personal homes had been a great challenge among low-income earners in the country.
He blamed the situation on the cost of land, challenges associated with land-grabbers and housing boom due to the high demand created by a rising population.
He appealed to the Osun State Government to further reduce the cost of obtaining titles so as to facilitate the creation of more mortgage facilities in the state.