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Home Business News

FHFL, FMBN announce collaboration on low income home ownership

William UkpebyWilliam Ukpe
2 years ago
in Business News, Real Estate and Construction
Four reasons why Buhari must reject the revised NHF billĀ 
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The Federal Government’s Family Homes Funds Limited (FHFL) and the Federal Mortgage Bank of Nigeria (FMBN) have stated that they are collaborating towards homeownership for millions of Nigerians on low income.

This was disclosed in a statement by the Family Homes Funds on Monday, which said that the deal would enable low-income earners to have access to mortgages for homeownership.

READ: Lagos warn against unlawful ownership transfer of state housing units

They said, “The latest partnership between the two prominent players in the Nigeria housing sector will widen homeownership opportunities for millions of Nigerians by building more homes, enabling mortgage lending for many low-income earners across the country.”

READ: FEC okays FMBN’s request to purchase banking application software for N487.39 million

What you should know

  • The Family Homes Fund, launched in 2017, is a social housing initiative promoted by the FG as part of its Social Intervention Programme with initial shareholding by the Federal Ministry of Finance and the Nigeria Sovereign Investment Authority.
  • The company aims to invest up to N1.3trn in the development of 500,000 homes for low-income earners in Nigeria.
  • Secretary to the Government of the Federation (SGF), Boss Mustapha, admitted that the housing deficit in Nigeria was within the range of 16 million and 22 million.

Related

Tags: Federal Government's Family Homes Funds Limited (FHFL)Federal Mortgage Bank of Nigeria (FMBN)

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