Kingsley U.N Chikwendu
The Federal Mortgage Bank of Nigeria (FMBN)/Labor Unions’ Workers’ Estate in Akure, Ondo state is another 100-housing unit project consisting of 1, 2 & 3 semi-detached bungalows, with an estimated price of N4.3M, N8.0M, and N8.5M respectively for Nigerian workers.
Read more: FMBN/Labor Unions’ Workers Estate in Kogi State
This is an estate being built under the first phase of the National Affordable Housing Delivery Programme, a special collaboration by the FMBN whose aim is to design, build and deliver houses that subscribers to the NHF can afford to own within their income, partnering with labor unions that include the Nigerian Labour Congress (NLC), Trade Union Congress (TUC), and NECA.
Under this arrangement, the FMBN finances the construction and packages NHF Mortgage loans with tenors of up to 30-years packaged for the beneficiaries at a 6% interest rate.
Read more: FMBN Funded Estate: I Connect Estate, a case study of Arc. Dangiwa’s administration
Work on this project began in 2018 and all units are 100% completed. Facilities include roads, proper drainages, water and electricity, and neighborly spaces.
