Monday, 10 April 2017

Housing: FG Provides N500bn To Resuscitate FMBN For Mortgage Facilities

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 Deputy Governor, Mr Silas Agara. Newsmen report that the minister visited the site of a National Housing Project (NHP) in Lafia. “The resuscitation of the bank with N500 billion will provide the institution with adequate funds to provide mortgage facilities to interested Nigerians. “The 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. 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. “This will greatly enhance the transition of low income earners from tenants to home owners,’’ he said. Baba-Shehuri explained that the project would provide houses and jobs for low income earners.

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