As subsidiary disburses N10.6b mortgages to 962 beneficiaries
The Federal Housing Authority (FHA) has entered into a tripartite agreement with two firms to construct 1,200 housing units in Abuja.

The public-private partnership initiative between Nuga Best International and Regis Integrated Services Limited is targeted at providing blocks of flats, detached and semi-detached units, as well as terrace duplexes in Mbora District.

Speaking at the flag off of the project, FHA Managing Director, Gbenga Ashafa, said the estate would be serviced with the standard infrastructure.

Ashafa reiterated commitment of the FHA to advance the government’s housing delivery initiative by leveraging potential of the construction industry to stimulate employment opportunities.

He said: “The journey over the years has been marked by notable achievements and impactful milestones. We take pride in consistent efforts that have transformed FHA into a high-performing agency.”

Chairman, Nuga Best International, Hilary Chukwuma, said the estate would reduce the housing challenges faced by Nigerians in the Federal Capital Territory (FCT). He added that the project would cater for different classes of off-takers.

MEANWHILE, FHA Mortgage Bank has disbursed N10.6bn National Housing Funds (NHF) loans to 962 beneficiaries as part of efforts to make homeownership affordable and accessible to all Nigerians.

Managing Director of the bank, Hayatudeen Awwal, revealed this during the handover ceremony of houses to batch 1041 beneficiaries of the NHF loans, most of whom are doctors in Abuja. The houses are in Abuja, Lagos, Akwa Ibom, Imo, Enugu, Plateau, Kaduna, Kano, Sokoto and Zamfara States

He said: “We want to celebrate successful processing, disbursement and handing over of keys to owners.”

Hayatudeen further stated that the bank has created over 200 jobs using the housing index, adding, “Through this, we are fulfilling President Bola Tinubu’s vision of delivering affordable housing for Nigerians.”

Also, the Managing Director said that mortgage facilities remain a viable solution to help more Nigerians own a home as opposed to the cash and carry model, which has encouraged corruption and induced hardship on Nigerians.

He said the mortgage bank over the years has amassed a pool of over 40,000 off-takers to do business with and has also been able to build robust partnerships with both public and private sectors.

Ashafa, however, advised the beneficiaries to commence the repayment process, saying, “NHF is not a national cake that once off-takers move into the houses, they will stop repayment so that other people can benefit because it is a revolving table.”

Responding on behalf of the beneficiaries, Dr. Adejo Arome, thanked officials of both institutions for making homeownership accessible for doctors, adding that the prevalent issue of brain drain and recurring strike action will be solved if more doctors are assisted to own a home.