From Saka Bolaji, Minna
The Federal government says its plan for public sector workers to own their own houses has now reached advanced stage .
Minister of State Power, Works and Housing Alhaji Mustapha Baba Shehuri made this known in Minna Niger state at the commissioning of the Federal Mortgage Bank- Sea Mountain 133 unit housing estate on Tuesday.
Shehuri did not give details of the plan but submitted that it was part of government plans to bridge the 16m- 17m housing deficit in the country and that the objective should be realised over the next three years.
The Minister also disclosed that “a National Housing Models have been designed and approved for each geo- political zone, taking into cognizance our cultural diversities and climatic conditions in our choice of houses”.
The new housing models the Minister also said was fashioned in line “with the present administrations vision of standardizing building materials to boost local content by encouraging our artisans and craftsmen, as well as the creation of employment”.
Shehuri disclosed that the federal government would continue to lend its support to the Federal Mortgage Bank and “ensure that it is adequately recapitalized and repositioned to cater for the mortgage finance needs of Nigerian workers who would be beneficiaries of houses built under the the housing program of this administration”.
His words: ” I will therefore use this opportunity to call on all Nigerian both in Public and private employment including the self-employed to ensure that they contributed to the National Housing Fund so that collectively we can assist all Nigerians own a home”.
Acting Managing Director of the Federal Mortgage Bank of Nigeria Mr Richard Esin announced that the federal government has approved that the initial down payment of 10% of the cost of houses would no longer be required for houses of N5m and below value.
Esin said government has also in addition decided that the cost of mortgage perfection which usually added another 10%to the upfront costs “will be recapitalized and repaid gradually over a period of two years”.
” The effect of these concessions reduces initial home ownership costs by about 20%”.
The Managing Director said FMBN in order to make an impact in Niger state had invested N1.423billion for the development of 379 housing units apart from the estate just commissioned.
The acting Governor of Niger state, Alhaji Ahmed Mohammed Ketso, in an address said the government in a deliberate effort to fast track rapid housing development has subsidized the rate and process of obtaining certificate of occupancy.
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