The picture above depicts the Federal Mortgage Bank of Nigeria (FMBN)/Labor Unions’ Workers Estate in Kogi, it’s a 100-housing unit project situated a few kilometers off the Lokoja, Okene road. It comprises of a mix of well-built 1, 2 & 3 bed semi-detached bungalows at affordable rates for low-income earners.
The estate is a product of the National Affordable Housing Delivery Programme, a special FMBN collaboration scheme with labor unions including NLC, TUC, and NECA whose aims are to design, build and deliver houses that subscribers to the NHF can afford to own within their income.
Under the arrangement, FMBN finances construction and packages of NHF Mortgage loans with tenors of up to 30-years for the beneficiaries at a 6% interest rate.
Work on the project commenced in 2019 and progressed to completion in record time. Facilities in the estate include roads, proper drainages, water and electricity and neighborly spaces.