Emmanuel Addeh in Abuja
Minister of Housing and Urban Development, Ahmed Dangiwa has assured African Descendants in Diaspora Union (AFRIDU) of an enabling environment for diaspora participation in Nigeria’s housing market ecosystem.
Dangiwa also expressed the commitment of the ministry to work with the union to achieve a shared vision of a prosperous and united Africa that would in turn create a better future for all citizens, both at home and abroad.
The minister stated this when a delegation from AFRIDU led by the Union’s Diplomatic Administrator for Nigeria, Dr. Abraham Onwubuya, paid him a visit in Abuja.
AFRIDU, according to a statement from the ministry, is a platform created to foster unity, solidarity, and empowerment among the African descent in the Diaspora.
Dangiwa also acknowledged the importance of the diaspora to the government, adding that the over 20 million Nigerians in Diaspora remitting an average of over $24 billion per annum is a massive capacity crucial to catalysing development in all sectors of the nation’s economy.
“We are doing this in collaboration with the Nigerians in Diaspora Commission (NiDCOM) and the two federal housing agencies that are under the supervision of our ministry, the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA),” he said.
He also recalled the launch of the Diaspora Mortgage Loan at the 6th Edition of the Nigeria Diaspora Investment Summit in Sept 2023, a loan designed to enable Nigerians living overseas participate in the National Housing Fund (NHF) scheme in order to access up to N50 million to own their homes in Nigeria.
He explained that participants could access the loan via a National Housing Fund (NHF) loan, rent-to-own or the individual construction loan window, with affordable terms at best market rates which includes a single-digit interest rate of 9 per cent, and a payback period of up to 10 years.
On their part, the leader of the AFRIDU delegation, Onwubuya on behalf of members of the union appealed for a chance to partner with the ministry in terms of investment in real estate.
He also requested the ministry’s assistance in providing them with lands to develop smart homes and cities across the country, for the Africans descendants in diaspora.
