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The Federal Mortgage Bank of Nigeria (FMBN) says it has disbursed N265
billion under the National Housing Fund Scheme to boost the delivery of
affordable housing to Nigerians.
Mr. Lawal Isa, the Head, Corporate Communications Group of the Bank, in
a statement on Wednesday quoted the Managing Director, Mr. Ahmed
Dangiwa, as making the disclosure recently in Abuja.
Dangiwa said that the N265 billion represented an increase of over N112
billion or 74 percent over the N152.5 billion which the current
management met in early 2017.
According to him, about 8,700 new homes have been built between 2017 and
2020, representing a growth of 43 percent to attain a cumulative of
29,133 funded housing units.
He noted that within the period, the National Housing Fund (NHF)
collections grew by N186 billion representing 80 percent to reach a
cumulative amount of N418 billion as of September.
Dangiwa said that the bank had been able to grow the home renovation
micro-loan by over 2,000 percent from about 2,600 loans to about 56,000
loans in the last three years.
The managing director explained that about 570,000 contributors had been
added to attain a contributor base of over 5.1 million NHF subscribers.
He noted that 34 out of the 36 states of the Federation were compliant
regarding workers’ contributions with five states resuming contributions
within the past three years. (NAN)