The Federal Mortgage Bank of Nigeria (FMBN), under the leadership of Shehu Usman Osidi is spearheading a strategic program that would enable public servants in Nasarawa State to realize their dreams of becoming homeowners.
In addition to the Federal government’s Renewed Hope Cities and Estates Program, which the Bank is funding with an off-taker guarantee of N100 billion, the project seeks to deliver an astounding 241 housing units.
The initiative was revealed during a courtesy visit by Nasarawa State Deputy Governor, Dr. Emmanuel Akabe, to the Bank’s head office on Tuesday, November 19, 2024.
Speaking during the visit, Dr. Akabe applauded the Bank for its ongoing and completed interventions in Nasarawa State which have taken care of the welfare of Nasarawa citizens, expressing hope for more collaborations.
He emphasized that the visit was aimed at encouraging and supporting Shehu Osidi, whom he extolled as a very dedicated, hardworking, reliable and result-oriented individual, noting that “he’s a person that has been tested and trusted, and we are not surprised about his outlined achievements.” The Deputy Governor further commended the FMBN Lafia Branch Manager, Mrs. Hilda Odiachi, for maintaining good relationship between the Bank and the Nasarawa State Government.
Highlighting the premium placed on the welfare of workers in Nasarawa State by the administration of Engr. A.A. Sule, Dr. Akabe passionately appealed for the Bank’s support in providing access to housing for civil servants in Nasarawa State. He reported that the Renewed Hope Cities and Estates Programme in the state was coming up very well, and expressed hope that Nasarawa State would be the first state to complete the project so that they can ask for more.
He disclosed that the Nasarawa State Government passed a law permitting the occupants of all government-owned houses in the state to become owners of the houses, which totals 141 houses. He, however, lamented the inability of civil servants to afford these houses given their earnings, and appealed to the FMBN Management to step in and support the civil servants to achieve their dreams of owning those homes and increasing housing supply for workers in the state.
In his address, the MD/CE affirmed the significance of the visit as reflective of the State Government’s determination to foster the collaboration between Nasarawa State and FMBN. Osidi outlined some of FMBN’s strategic interventions in Nasarawa, through the unwavering support of Governor Sule, who he noted is providing focused leadership and upscaling the potentials available in Nasarawa State.
These interventions include the disbursement of N7.7 billion to 8,754 indigenes of the state through the Home Renovation Loan window, the provision of 105 homes through the Rent-to-Own scheme, delivery of 632 housing units under the Cooperative Housing Development Loan in the sum of N6.6 billion and the financing of 100 housing units under the NLC/TUC/NECA housing scheme. Others are the construction of 1,194 units under the Estate Development Loan window, disbursement of N579 million for DASH Multi-Purpose Coop Society as well as the disbursement of N52.7 million to 7 beneficiaries under the Individual Construction Loan window, amongst others.
In addition to these interventions, Osidi assured the Deputy Governor of the Bank’s readiness and willingness to support the Nasarawa State Government’s agenda for the welfare of the state’s workers. “We will provide funding for the off-takers of the Owner-Occupier housing estates,” he assured. He explained that the initiative would be carried out through the FMBN Rent-to-Own model to satisfy the desire of the government, adding that the Bank would increase the housing stock with 100 housing units already developed by FMBN in Nasarawa State, bringing the number of houses to 241 units.
“Our doors remain open to expanding our collaboration, and we are ready to work with the state government on initiatives that enhance access to affordable housing and promote economic growth,” he stated.
The Executive Director, Loans and Mortgage Services, Dr. Muhammad Sani Abdu, in his remarks, stated the possibility of piloting the sites and services programme in Nasarawa State, to ensure a long gestation period for people to develop their houses gradually, while the Bank finances the infrastructure.
