{"id":1201,"date":"2017-02-23T14:24:12","date_gmt":"2017-02-23T14:24:12","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/fg-working-towards-ensuring-every-nigerian-owns-house-in-3-years\/"},"modified":"2017-02-23T14:24:12","modified_gmt":"2017-02-23T14:24:12","slug":"fg-working-towards-ensuring-every-nigerian-owns-house-in-3-years","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/fg-working-towards-ensuring-every-nigerian-owns-house-in-3-years\/","title":{"rendered":"\u2018FG working towards ensuring every Nigerian owns house in 3 years\u2019"},"content":{"rendered":"

[ad_1]
\n<\/p>\n

\n

By Demola Akinyemi<\/p>\n

ILORIN-Federal government on Thursday said it has concluded arrangements to ensure that every Nigerian owns house within the next three years by ensuring that it built 16-17 million units houses<\/a> every year across the states of the federation for public and private workers .<\/p>\n

<\/p>\n

The Minister of State, Power, Works and Housing<\/a>, Hon. Mustapha Baba Shehuri who made the disclosure in Ilorin, Kwara state capital said the project which will be achieved under a Public-Private Partnership arrangement has reached an advanced stage in terms of implementation.<\/p>\n

Hon Sheuri said this at the official commissioning of 250 housing estate units financed by the Federal Mortgage<\/a> Bank of Nigeria(FMBN) and developed by Kam- Abioye Nigeria Limited located along Bala-Eiyenkorin road, Ilorin, the state capital.<\/p>\n

According to the minister,\u201dThe Federal Ministry of Power, Works and Housing will continue to strive at meeting the challenges of housing deficit in Nigeria,which has been put at 16-17million units.\u201d<\/p>\n

\u201cIndeed,the Ministry\u2019s plan to build several housing units in every state of the federation for public and private workers every year,over the next three years,under a Public-Private Partnership arrangement has reached an advanced stage in terms of implementation\u201d.<\/p>\n

He said this became necessary because, \u201cEvery government has the responsibility of addressing the welfare of its citizens in all possible ways.It is in this context that it has been a matter of priority for the President Muhamamdu Buhari led administration to provide affordable housing<\/a> for the teeming Nigeria\u2019s populace\u201d.<\/p>\n

The Minister who said that, \u201cNational Housing models have been designed and approved for each six geo political zones of the country added that,\u201dhe design of the housing units is based on the cultural diversities and climatic conditions in the choice of the houses and in line with the present administration\u2019s vision of standardizing building materials<\/a> to boost local content by encouraging our artisans and craftsmen as well as the creation of employment\u201d.<\/p>\n

While noting further that, \u201cthe 250 housing units being commissioned today are equipped with basic amenities required for a decent life\u201d,the minister stressed that, \u2018the developer has done a good job and it is my humble prayer that the beneficiaries will make good use of these facilities to ensure the accomplishment of the lofty objectives for which huge expenditures were incurred by the government\u2019.<\/p>\n

Hon. Shehuri also pointed that, \u201cthe FMBN being the apex mortgage institution in Nigeria has a major role to play in the realization of the aspirations of many Nigerians towards owning a home through mortgage,stressing that,\u201cI am please to re-affirm the resolve of this administration to recapitalize the bank to the tune of N500billion which will no doubt reposition the bank to adequately and efficiently carry out its mandate under the National Housing programme of this administration in order to make the lower class nigerians own houses easily.<\/p>\n

The Acting Managing Director\/Chief executive of Federal Mortgage Bank,Mr Richard Esin in his address said at the occasion that ,the Federal government has approved loan<\/a> of N5M and below by National Housing Fund(NHF)for prospective house owners\u200e,\u201dthus loan<\/a> applicants will not be required to make down payment of 10% of the house price\u201danymore.<\/p>\n

He stressed,\u201din addition,the cost of mortgage perfection which usually adds another 10% to the upfront costs will be capitalised and repaid gradually over a period of five years.The effect of these concessions reduces initial ownership costs by at least 20%\u201d<\/p>\n

According to him,\u201dThese steps are in pursuit of the business focus of the bank which is targeted at providing affordable mortgages to promote home ownership among the mass and middle income market segments in Nigeria\u201d<\/p>\n

He added that,\u201dThe targetted average price per unit of house to meet the need of these customer markets is estimated at N5M per unit\u201d<\/p>\n

\u201cTo achieve this price target,FMBN is collaborating with developers for large scale housing delivery at city\/district scale based on the National Housing Model driven by the federal ministry of power,works and housing\u201d<\/p>\n<\/p><\/div>\n

[ad_2]
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] By Demola Akinyemi ILORIN-Federal government on Thursday said it has concluded arrangements to ensure that … \u2018FG working towards ensuring every Nigerian owns house in 3 years\u2019<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1202,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,132,1398,625,12908,543,617,489,344,408,1032,312,522,1007,41,15282,15296],"class_list":["post-1201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-commission","tag-developers","tag-down-payment","tag-home","tag-home-buying-guide","tag-house","tag-houses","tag-housing","tag-mortgage","tag-mortgage-bank","tag-mortgages","tag-nigeria","tag-owners","tag-property","tag-ross","tag-target"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Narawa-flood4.jpg?fit=412%2C250&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2134,"url":"https:\/\/amazingproperty.com.ng\/blog\/60-housing-stock-in-nigeria-is-imported-aliyu\/","url_meta":{"origin":1201,"position":0},"title":"60% Housing Stock In Nigeria Is Imported \u2013 Aliyu","author":"Amazing Property","date":"March 1, 2017","format":false,"excerpt":"60% Housing Stock In Nigeria Is Imported \u2013 Aliyu\r Chika Okeke \u2014 Mar 1, 2017 3:53 am |\r \r Mallam Ibrahim Aliyu is the chairman of Urban Shelter Limited and former managing director of Nigeria Industrial Development Bank now Bank of Industry. In this interview with CHIKA OKEKE Add New,\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/leadership.ng\/wp-content\/uploads\/2017\/03\/xwsi-imageoptim-aal.jpg.pagespeed.ic.ypzzKT_-tO.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1605,"url":"https:\/\/amazingproperty.com.ng\/blog\/fg-waives-10-payment-housing-mortgages-n5m\/","url_meta":{"origin":1201,"position":1},"title":"FG waives 10% payment on housing mortgages below N5m","author":"Amazing Property","date":"March 7, 2017","format":false,"excerpt":"\u00a0 ABUJA\u2014 As a demonstration of its commitment to provide affordable housing to Nigerians, especially the low income earners, the Federal Government has approved 10 percent waiver on housing mortgages below N5million for Nigerians. Minister of State for Power, Works and Housing, Mr Mustapha Baba Shehuri, announced this during the\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Housing","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Osinbajo-FEC3.png?fit=412%2C250&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5928,"url":"https:\/\/amazingproperty.com.ng\/blog\/fg-engages-653-contractors-for-mass-housing-scheme\/","url_meta":{"origin":1201,"position":2},"title":"FG engages 653 contractors for mass housing scheme","author":"Amazing Property","date":"August 28, 2017","format":false,"excerpt":"Babatunde Raji Fashola, Minister of Works, Power and Housing. In renewed effort to shore up national housing stocks, the Federal Government has engaged 653 contractors and employed 54,680 people to deliver 2,736 units of houses across the country. The projects planned in 33 states are part of the National Housing\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Fashola-BR.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Fashola-BR.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Fashola-BR.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Fashola-BR.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Fashola-BR.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Fashola-BR.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":4039,"url":"https:\/\/amazingproperty.com.ng\/blog\/federal-workers-nmrc-in-n13-billion-mortgage-refinancing-deal\/","url_meta":{"origin":1201,"position":3},"title":"Federal workers, NMRC in N13 billion mortgage refinancing deal","author":"Amazing Property","date":"May 1, 2017","format":false,"excerpt":"Chairman, implementation committee of the Federal Government Integrated Staff Housing programme (FISH), Mr. Yemi Adelakun (left); Managing Director, Nigeria Mortgage Refinance Company Plc (NMRC), Prof. Charles Inyangete; Executive Director, Corporate Strategy and Partnerships, NMRC, Dr. Chika Akporji; Representative of Minister of Finance,Dr. Bakari Wadinga and Executive Secretary, Federal Government Staff\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/FISH-01-05-2017.jpg?fit=1200%2C679&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/FISH-01-05-2017.jpg?fit=1200%2C679&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/FISH-01-05-2017.jpg?fit=1200%2C679&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/FISH-01-05-2017.jpg?fit=1200%2C679&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/FISH-01-05-2017.jpg?fit=1200%2C679&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":3225,"url":"https:\/\/amazingproperty.com.ng\/blog\/housing-fg-provides-n500bn-resuscitate-fmbn-mortgage-facilities\/","url_meta":{"origin":1201,"position":4},"title":"Housing: FG provides N500bn to resuscitate FMBN for mortgage facilities","author":"Amazing Property","date":"April 14, 2017","format":false,"excerpt":"The Federal Government says it has provided N500 billion to resuscitate the Federal Mortgage Bank of Nigeria (FMBN) to make mortgage facilities easily available to Nigerians. Alhaji Mustapha Baba-Shehuri, Minister of State for Power, Works and Housing, announced this in Lafia on Monday when he called on the Nasarawa State\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Housing","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Osinbajo-FEC3.png?fit=412%2C250&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3849,"url":"https:\/\/amazingproperty.com.ng\/blog\/fg-signs-n13bn-mortgage-refinancing-mou-workers-housing\/","url_meta":{"origin":1201,"position":5},"title":"FG Signs N13bn Mortgage Refinancing MoU on Workers\u2019 Housing","author":"Amazing Property","date":"April 27, 2017","format":false,"excerpt":"\u00a0 Head of Civil Service of the Federation (HoS), Mrs Wilfred Ekanem Oyo-Ita. The federal government on Tuesday\u00a0stepped up its desire to deliver decent and affordable houses for public workers by signing a Memoranda of Understanding (MoU) for N13 billion mortgage refinancing. The MoUs were signed towards approving loan that\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Mortgage Refinancing","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/HoS-Mrs-Wilfred-Ekanem-Oyo-Ita.jpg?fit=696%2C522&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/HoS-Mrs-Wilfred-Ekanem-Oyo-Ita.jpg?fit=696%2C522&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/HoS-Mrs-Wilfred-Ekanem-Oyo-Ita.jpg?fit=696%2C522&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=1201"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1201\/revisions"}],"predecessor-version":[{"id":90416,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1201\/revisions\/90416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1202"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=1201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=1201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=1201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}