Alhaji Mustapha Shehuri, Minister of State for Power, Works and Housing, on Wednesday inaugurated a 133-unit housing estate, under the National Housing Fund (NHF) in Minna, Niger.
Shehuri said that the estate was financed by the Federal Mortgage Bank of Nigeria [FMBN]and developed by Sea Mount Nig. Ltd, in Minna.
The minister pledged government’s commitment toward re-positioning the FMBN, to cater for the mortgage needs of Nigerian workers.
“It is my delight to commission this 133-unit housing estate, because every government has the responsibility of addressing the welfare of its people.
“It has been a matter of utmost priority for this administration to provide affordable housing to the teeming Nigerian populace.
“It must be noted that the FMBN, being the apex mortgage institution in Nigeria, has a pivotal role to play in the actualisation of the aspirations of many Nigerians, to own a home through mortgage.
“I wish to reaffirm the resolve of this administration to lend its full support to FMBN and ensure that it is adequately-recapitalised and re-positioned, to cater for the mortgage needs of Nigerian workers,’’ he said.
The minister expressed satisfaction over the successes recorded in the completion of housing units for workers across the country.
He called on workers in public and private sectors including self-employed, to ensure that they contribute to the NHF, “so that collectively, we can assist all Nigerians own a home.’’
Earlier, Mr Richard Esin, Acting Managing Director (FMBN) said that the housing units comprised of 51 units of three-bedroom fully-detached bungalows and 82 units of two-bedroom semi-detached bungalows.
Esin said that the NHF was a mandatory contribution scheme, in which workers in the public and private sectors contribute 2.5 per cent of their monthly income.
The FMBN chief said that on the basis of consistent and continuous contributions to the NHF scheme, the workers become eligible for mortgage loans at interest rate of 6 per cent, per annum.
According to him, the interest rate is payable over 30 years, to ensure affordable home ownership among Nigerians.
Mr Kola Olagunju, Managing Director, Sea-Mountain Company Nig. Ltd, a private developer, said the estate had modern facilities including two industrial boreholes.
Olagunju said that other facilities include three dedicated 500KVA transformers and network of roads, graded and finished with surface dressing and drainage system.
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