The Federal Mortgage Bank of Nigeria (FMBN) yesterday commissioned 25 affordable housing units in Kuje and performed ground-breaking for the development of another 130 housing units worth N1.9bn.
Speaking at the ceremony, the Minister of State for Transportation, Prince Ademola Adegoroye, said the building of the houses will stimulate economic growth and contribute to nation-building.
He said, “This will also make people homeowners; 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.”
Earlier, the Managing Director of FMBN, Madu Hamman, said the bank has been able to build several residential houses in eight states across the country under its cooperative society development housing scheme.
“There is no state in Nigeria today that has at least one or two FMBN-sponsored estates. FMBN has continued to develop affordable market products and housing development schemes in our effort to expand all angles and to facilitate mortgage lending and home ownership to Nigerians.”
Speaking, the president of Multi-purpose Cooperative Society, Muhammad Lawal, said the bank had approved N1.9bn loan in favour of FMBN Staff Multi-purpose Cooperative Society and it has received over 600 names of interested beneficiaries, mainly FMBN staff and many others from the government agencies such as the CBN.