FG begins allocation of 8,925 houses under the National Housing Programme

• This information was revealed in a statement by Dr. Marcus Ogunbiyi, the Permanent Secretary of the Ministry of Housing and Urban Development, in Abuja
  

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The Federal Government has allocated 8,925 houses to qualified applicants across the country under the National Housing Programme (NHP), according to a recent announcement.

However, the government also noted that there are no completed houses available in Abia, Lagos, Bayelsa, Rivers states, and the Federal Capital Territory (FCT).

This information was revealed in a statement by Dr. Marcus Ogunbiyi, the Permanent Secretary of the Ministry of Housing and Urban Development, in Abuja.

The News Agency of Nigeria reported on Tuesday that the NHP is a Federal Government initiative aimed at providing affordable housing loans to Nigerians over the age of 21 who are in paid employment. Participants in the scheme contribute 2.5% of their monthly salary to the fund via the Federal Mortgage Bank of Nigeria.

While the maximum loan amount was previously N5 million, it has been raised to N15 million to better meet housing needs.

The borrowed capital is repayable over a maximum of 30 years at the rate of six per cent interest.

“Out of a total of 8925 applications that were received,1,294 were for outright payment, 2408 for mortgage, 2184 for Rent to own and 3039 were for instalment payment modes.

“The offer of New Provisional Allocation Letters for the first batch of successful applicants under the Outright Payment mode is now ready.

“The successful subscribers would be contacted by the Federal Controllers of Housing and Urban Development in the states as well as the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM) from Thursday for collection.”

Ogunbiyi said that applicants under the Mortgage, Rent-to-own and instalment payment modes who should be subscribers to the National Housing Fund were presently undergoing profiling.

The successful subscribers would be contacted by the Federal Controllers of Housing and Urban Development in the states as well as the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM) from Thursday for collection.”

Ogunbiyi said that applicants under the Mortgage, Rent-to-own and instalment payment modes who should be subscribers to the National Housing Fund were presently undergoing profiling.