{"id":3225,"date":"2017-04-14T21:55:17","date_gmt":"2017-04-14T21:55:17","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/?p=3225"},"modified":"2017-04-14T21:55:17","modified_gmt":"2017-04-14T21:55:17","slug":"housing-fg-provides-n500bn-resuscitate-fmbn-mortgage-facilities","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/housing-fg-provides-n500bn-resuscitate-fmbn-mortgage-facilities\/","title":{"rendered":"Housing: FG provides N500bn to resuscitate FMBN for mortgage facilities"},"content":{"rendered":"<p>The Federal Government says it has provided N500 billion to resuscitate the Federal <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">Mortgage<\/a> Bank of Nigeria (FMBN) to make mortgage facilities easily available to Nigerians.<\/p>\n<div>\n<p>Alhaji Mustapha Baba-Shehuri, Minister of State for Power, Works and <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">Housing<\/a>, announced this in Lafia on Monday when he called on the Nasarawa State Deputy Governor, Mr Silas Agara.<\/p>\n<p><!-- between content ad --><\/p>\n<p>Newsmen report that the minister visited the site of a National Housing Project (NHP) in Lafia.<\/p>\n<p>\u201cThe resuscitation of the bank with N500 billion will provide the institution with adequate <a href=\"https:\/\/amazingproperty.com.ng\/blog\/get-quick-loan-for-real-estate-investment\/\">funds<\/a> to provide mortgage facilities to interested Nigerians.<\/p>\n<p>\u201cThe Federal Government in its quest to provide shelter to Nigerians, has recently directed the FMBN to waive the payment of 10 percent equity on mortgages below N5 million.<\/p>\n<figure id=\"attachment_746646\" class=\"wp-caption alignnone\" style=\"width: 412px;\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-746646\" src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png?resize=412%2C250\" sizes=\"auto, (max-width: 412px) 100vw, 412px\" srcset=\"http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png 412w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-300x182.png 300w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-58x35.png 58w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-260x158.png 260w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-200x121.png 200w\" alt=\"\" width=\"412\" height=\"250\" data-lazy-src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif\" \/><noscript><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-746646\" src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png?resize=412%2C250\" alt=\"\" width=\"412\" height=\"250\" srcset=\"http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png 412w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-300x182.png 300w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-58x35.png 58w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-260x158.png 260w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-200x121.png 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><\/noscript><figcaption class=\"wp-caption-text\">R-L, Minister of State Aviation, Sen Hadi Sirika, Minister of Transportation, Mr Rotimi Ameachi, Minister of State Mines and Steel, Alhaji Abubakar Bawa Bwari, Minister of Mines and Steel, Dr Kayode Fayemi,Minister of Science and Technology, Dr Ogbonnya Onu and Minister of State Power Alhaji Mustapha Baba Shehuri as Acting President Yemi Osinbajo Presides over 4th FEC Meeting at the Council Chamber State House in Abuja. PHOTO; SUNDAY AGHAEZE.<\/figcaption><\/figure>\n<p>\u201cThis will greatly enhance the transition of low income earners from tenants to home owners,\u2019\u2019 he said.<\/p>\n<p>Baba-Shehuri explained that the project would provide <a href=\"https:\/\/amazingproperty.com.ng\/blog\/really-nice-property-for-sale-in-nigeria\/\">houses<\/a> and jobs for low income earners.<\/p>\n<p>The minister said the houses would be built based on Nigerian housing design with 100 per cent local content.<\/p>\n<p>\u201cThe housing project came up with a 100 per cent Nigerian housing design and local content.<\/p>\n<p>\u201cThis is done because government wants to create employment for Nigerian youths,\u2019\u2019 he said.<\/p>\n<p>The minister commended the state government for providing land for the National Housing Project, saying that it was in line with President Muhammadu Buhari\u2019s administration\u2019s promise of providing infrastructure.<\/p>\n<p>Baba-Shehuri said the ministry would leave no stone unturned in tackling the challenges of housing shortage in the country which was about 16 million to 17 million.<\/p>\n<p>He disclosed that the government had commenced plan to construct mass housing units in every state for public and private workers over the next three years.<\/p>\n<p>Responding, the Deputy Governor thanked the minister for the visit and commended the Buhari led administration for initiating the project.<\/p>\n<p>\u201cWe assure you as a state that we will partner with your ministry to ensure that the project is successfully completed.<\/p>\n<p>\u201cAs you are aware, we have fulfilled our part by providing a good location in Akruba in the outskirts of Lafia metropolis for the project,\u2019\u2019 he said.<\/p>\n<p>Newsmen report that the minister visited the ongoing project in Akruba in Lafia Local Government Area comprising 76 houses of one, two and three-bedroom apartments.<\/p>\n<\/div>\n<p>[ad_2]<\/p>\n<p><a> Vanguard <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Government says it has provided N500 billion to resuscitate the Federal Mortgage Bank of &hellip; <a title=\"Housing: FG provides N500bn to resuscitate FMBN for mortgage facilities\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/housing-fg-provides-n500bn-resuscitate-fmbn-mortgage-facilities\/\"><span class=\"screen-reader-text\">Housing: FG provides N500bn to resuscitate FMBN for mortgage facilities<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1606,"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":true,"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":[12908,543,617,489,344,3058,382,408,1032,312,522,1007,907,3053],"class_list":["post-3225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-house","tag-houses","tag-housing","tag-location","tag-mass-housing","tag-mortgage","tag-mortgage-bank","tag-mortgages","tag-nigeria","tag-owners","tag-tenant","tag-tenants"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Osinbajo-FEC3.png?fit=412%2C250&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3196,"url":"https:\/\/amazingproperty.com.ng\/blog\/fmbn-boosts-housing-in-seven-states-with-1500-units\/","url_meta":{"origin":3225,"position":0},"title":"FMBN boosts housing in seven states with 1,500 units","author":"Amazing Property","date":"April 10, 2017","format":false,"excerpt":"Mortgage Bank of Nigeria Amid concerns that a yearly rural-urban migration of over 5 per cent requires 720,000 housing units annually to fill the nation\u2019s housing deficit, Federal Mortgage Bank of Nigeria (FMBN) has uploaded 1,500 housing units into the property market. The units developed by the bank in seven\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","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\/04\/fmbn.jpg?fit=640%2C360&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/fmbn.jpg?fit=640%2C360&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/fmbn.jpg?fit=640%2C360&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7491,"url":"https:\/\/amazingproperty.com.ng\/blog\/stakeholders-urge-repeal-of-fmbn-act\/","url_meta":{"origin":3225,"position":1},"title":"Stakeholders urge repeal of FMBN Act","author":"Amazing Property","date":"December 18, 2017","format":false,"excerpt":"Managing Director, FMBN, Ahmed DangiwaStakeholders in mortgage industry have called for the repeal of the existing Act establishing Federal Mortgage Bank of Nigeria (FMBN) to give room for its comprehensive re-establishment and strengthening of its board. They also sought for the establishment of Institute of Mortgage Brokers and lenders of\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Ahmed Musa Dangiwa 1.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Ahmed-Musa-Dangiwa-1.jpg?fit=1200%2C674&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Ahmed-Musa-Dangiwa-1.jpg?fit=1200%2C674&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Ahmed-Musa-Dangiwa-1.jpg?fit=1200%2C674&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Ahmed-Musa-Dangiwa-1.jpg?fit=1200%2C674&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/Ahmed-Musa-Dangiwa-1.jpg?fit=1200%2C674&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6337,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-industrys-low-profitability-level-discourages-investors\/","url_meta":{"origin":3225,"position":2},"title":"Mortgage industry\u2019s\u00a0low profitability level discourages investors","author":"Amazing Property","date":"September 25, 2017","format":false,"excerpt":"Adeniyi Akinlusi is the President, Mortgage Banking Association of Nigeria (MBAN) and Chief Executive Officer, TrustBond Mortgage Bank Plc. Adeniyi Akinlusi is the President, Mortgage Banking Association of Nigeria (MBAN) and Chief Executive Officer, TrustBond Mortgage Bank Plc. In this interview with Property & Environment Editor, CHINEDUM UWAEGBULAM, Akinlusi who\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Akinlusi-25-09-2017.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/Akinlusi-25-09-2017.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\/09\/Akinlusi-25-09-2017.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/Akinlusi-25-09-2017.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/Akinlusi-25-09-2017.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/Akinlusi-25-09-2017.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":1201,"url":"https:\/\/amazingproperty.com.ng\/blog\/fg-working-towards-ensuring-every-nigerian-owns-house-in-3-years\/","url_meta":{"origin":3225,"position":3},"title":"\u2018FG working towards ensuring every Nigerian owns house in  3 years\u2019","author":"Amazing Property","date":"February 23, 2017","format":false,"excerpt":"[ad_1] By Demola Akinyemi 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 every year across the states of the federation for public and private workers . The Minister\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","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\/02\/Narawa-flood4.jpg?fit=412%2C250&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1911,"url":"https:\/\/amazingproperty.com.ng\/blog\/housing-deficit-fg-pledges-bridge-17-million-housing-gap\/","url_meta":{"origin":3225,"position":4},"title":"Housing deficit: FG pledges to bridge 17 million housing gap","author":"Amazing Property","date":"March 14, 2017","format":false,"excerpt":"MINISTER of State for Power, Works and Housing,\u00a0 Mustapha Shehuri, has assured that the present administration is determined to bridge the 17 million housing deficit confronting the nation. Giving the assurance at the commissioning of the FMBN\/Lape Estate, Karu, developed by Lape Construction Services Ltd. under a public private partnership\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1605,"url":"https:\/\/amazingproperty.com.ng\/blog\/fg-waives-10-payment-housing-mortgages-n5m\/","url_meta":{"origin":3225,"position":5},"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 &quot;Opportunities In New Markets&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/3225","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=3225"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/3225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1606"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=3225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=3225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=3225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}