Federal Mortgage Bank of Nigeria (FMBN) yesterday, commissioned 25 affordable housing units in Kuje and performed groundbreaking for the development of another 130 housing units at Aviation village off Airport Road, Abuja.

The FMBN-Abiskoly Housing Estate Abiskoly Housing Estate for members of National Human Rights Commission Cooperative Society is located in Kuje and Groundbreaking of FMBN Staff Cooperative Estate is located at Aviation village off Airport Road Abuja.

Speaking at the ceremony, the minister of state for transportation, Prince Ademola Adegoroye, said that the building of the houses will stimulate economic growth and it contribution to nation building is important.

He said, “This will also make people home owners, people who cannot even afford to build a house but this will give them hope and I can assure you that the government will continue to encourage people like you who want to build homes for the people.”

In the same vein, the MD Federal Mortgage Bank of Nigeria, Mr Madu Hamman said that the phase one which is completed for commissioning is 25 housing units while 35 units will be delivered in the next phase.

He said that In the past few weeks the bank have been in the series of commissioning several residential houses in eight states across the country under our housing delivery initiative, develop in collaboration with the labour center and we have several others also completed under this scheme that will be commission in due course across the country’s geopolitical zones. In this giant strive we are making an effort in reducing the national housing deficit and also employ Nigerians in all areas of home ownership.

“The commissioning of this estate today is another landmark event to showcase our milestone under another housing ownership initiative of the bank which is the FMBN cooperative society development housing scheme.

Under this scheme, we have fund housing construction for housing cooperative society, and acquisition of these houses is develop by their members who are regular individual housing funds loan.

“In our own way at the FMBN, we are committed to ensure that Nigerians have access to decent and secure accommodation through affordable mortgage financing especially Nigerians who have limited opportunities and access through product and the Nigerians financial services. We are not where we deserve to be but the FMBN have done so well and the evidence is abond with FMBN through sponsored Estates.

“There is no state in Nigeria today that at least one or two FMBN sponsored Estate. This is apart from the individual estate that advance to Nigeria renovate and purchase houses of their own. FMBN has aldo continue to develop affordable market product and housing development scheme in our effort to expanding all angles and to facilitate mortgage lending and home ownership to Nigerians.

According to the president of Multi-purpose Cooperative Society, Muhammad Lawal, the idea to building a serene, aesthetic and functional estate has been one of our priorities when we came on board, our desire was to develop an estate which will project a good image of the Bank, provide a decent shelter for our members and set a good example for other developers to emulate.

“N1, 949,805,642.87 was approved as loan by the current Management in favour of FMBN Staff Multi-purpose Cooperative Society Limited under the Cooperative Housing Development Loan Window, for the of 130units of 3bedroom terrace duplex with infrastructure.

“Our developer has fully mobilised; construction work is going on in strict compliance with engineering standard.
In 3months after the commencement of this project, we have received over 600 names of interested beneficiaries, mainly FMBN Staff and many others from government agencies such as the CBN,” he said.

Meanwhile, the chairman board of directors FMBN, Ayodeji Ariyo, said that the approval and disbursement of the loan for the project and the formal commissioning ceremony we are witnessing today, is an indication of the Bank’s genuine desire to continue to empower Nigerians in the area of homeownership via affordable home construction and mortgage financing.

Ayodeji who was represented by Non-executive Director, Nkechi Sandra Ejezie said, “This project is also a confirmation of the Bank’s commitment to the welfare and wellbeing of National Housing Fund (NHF) contributors as a foundation of our commitment to continue to deepen homeownership among Nigerian workers who are contributors to the NHF Scheme.

“It is therefore a thing of joy for us at FMBN to be associated with today’s event and the Abiskoly Nigeria Limited, the developer of this estate. I have no doubt that this project will go a long way in ameliorating the housing needs of members of the subscribers to this estate who are the staff of Human Rights Commission and contributing to the NHF.”