FG to Deliver 5,000 Housing Units under NESP

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By Emmanuel Addeh

The federal government is set to commence work on the delivery of 5,000 housing units under the National Economic Sustainability Plan (NESP) recently approved by the Federal Executive Council (FEC) to stimulate economic growth and create jobs.

The Managing Director/Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), Mr Ahmed Dangiwa, made the announcement during a presentation to the Minister of Interior, Mr Rauf Aregbesola, on mass affordable housing scheme for officers of paramilitary agencies under the ministry.

A statement by the Head, Corporate Communications Group of the bank, Mr Lawal Sauri, on Sunday, noted that participants at the meeting included the leadership of the Nigeria Correctional Service (NCS), Nigeria Immigration Service (NIS), Federal Fire Service (FFS) and the Nigeria Security and Civil Defence Corps (NSCDC).

Dangiwa said that 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 home ownership.

The FMBN boss stated that the partnership would enable interested members of the service across all cadres to benefit from the bank’s plan of financing 5,000 new homes over the next 12 months as part of the federal government’s economic plan.

“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,” he said.

In addition, the FMBN boss disclosed that the bank’s plan to commence the construction of FMBN mini cities in collaboration with reputable real estate developers remains one of the many windows that the Ministry of Interior could key into to boost delivery of affordable housing to its staff.

He explained that under the FMBN mini cities’ project, the bank is targeting the development of 20,000 housing units annually over the next five years.

Dangiwa explained that the houses will be developed in prime locations across the country with units ranging from 1,000 to 2,000 housing units of 2-3-bedroom block of flats and some with terraces.

To ensure quick and timely delivery, he stated that off-takers would be profiled at the inception of each project.

Aregbesola, in his remarks, lauded the bank for the presentation and expressed interest in the ministry’s participation in the FMBN mini cities project.

The minister instructed the leadership of agencies under his ministry for further collaboration and engagement with the FMBN to ensure that appropriate frameworks and agreements are concluded so that the staff could benefit from the scheme.