The Federal Mortgage Bank of Nigeria (FMBN) has inaugurated one hundred housing units for civil servants in Adamawa state, northern Nigeria.
The project is fully funded by the FMBN to reduce the challenges faced by Nigerians in owning a house.
Under this phase, the bank is delivering to off-takers, 40 units of 3 bedroom semi-detached bungalows at N8.3 million and 36 units of 2 bedroom semi-detached bungalows at N6.8 million.
It is also delivering 24 units of 1 bedroom semi-detached bungalows at 3.1 million.
The Bank provides mortgage financing for purchase of the houses to the buyers at the rate of six percent interest, with repayment period of over 25 years.
The estate is fully serviced with basic infrastructure including internal road network, drainages, electricity and water to all the houses to create conducive and liveable environment.
FMBN appreciated the support of the Adamawa state government for providing the land for the project.
In his remarks, Gov. Ahmadu Fintiri also appreciated the FMBN for meeting its responsibility and urged them to sustain the tempo, adding that Government would continue to support such projects in the state.
He added that the state government would also do everything possible to provide access roads across the housing facility.
Mr Ayuba Wabba, President, Nigeria Labour Congress, NLC, appreciated FMBN and commended the developer for the delivery of the project and urged others to follow suit.
He pleaded with the state government to provide access roads and also provide land for the second phase of the project in the state.
Malam Ahmed Muhammadu, who spoke on behalf of the beneficiaries thanked the FMBN for the project which is a priority of every civil servant to own a house.
He urged them to sustain the tempo for others to benefit from their contribution.
