The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), have been directed by the federal government to synergise their skills and capabilities to build 30,000 housing units in Abuja, Lagos, Port Harcourt and Kano. The partnership will also create 2 million jobs for unemployed Nigerians.
While the FMBN will provide the financing through its mortgage scheme, the FHA will provide part of its land located in 34 states across the country for the project.
The acting Managing Director of FMBN, Mr. Richard Esin, represented by the Executive Director, Loans and Mortgages, Charles Nyor Ajiva said: “Since FHA has land in different locations of this country and FMBN is into mortgage financing, we will use our money to build on the land that they have to produces houses.”
According to him, the Minister of Power, Works and Housing, SAN Mr. Babatunde Fashola, advised the two agencies to use their different skills and capabilities through synergy for the production of houses, which is part of President Muhammadu Buhari’s mandate to deliver 1 million houses annually.
“We hope to deliver a minimum of an estate by 12 months and so we are looking at the formalisation of modalities and within 12 months we should be able to get an estate and by next week we will start work.
“The minister is working under the president and has prompted the agencies working under him to begin to work towards delivery of houses.
“In his last trip to China housing is part of the component that was discussed and we are expecting big Chinese firms in the housing sector to come in to support the housing delivery.”
He dispelled insinuation that poor Nigerians do not have access to houses built by FMBN, adding, “What we do in FMBN is to finance houses for Nigerians who contributors to the NHF.”
