The federal government through the Nigerians in Diaspora Commission (NIDCOM) has launched the Diaspora Housing Scheme that provides a platform for Nigerians outside the country to access up to N50 million in mortgage spread over a ten-year tenure with an interest rate of 6.9%.
This scheme is formulated to facilitate the active involvement of Nigerians living abroad in the National Housing Fund (NHF) Scheme, granting them the opportunity to access substantial funds, up to N50 million, for the purpose of acquiring homes in Nigeria.
The official launch of this initiative occurred during the ongoing 6th edition of the Nigeria Diaspora Investment Summit (NDIS) in Abuja.
During the launch, the Minister of Housing and Urban Development, Arch Musa Dangiwa said the diaspora community should not only be seen as a source of development finance but as people who desire to own homes in their country.
What the Minister said
- He stated, “And as a ministry, we are willing to support diaspora initiatives in the housing and urban development space as well as encourage partnerships with the diaspora towards making a change in the housing and urban development narrative of our dear country.
- “It is important for me to state that when we think about the diaspora, we are not only thinking of them as sources of finance to develop our country, but we also see them as Nigerians, who though abroad, are desirous of owning homes in Nigeria”
Mr. Dangiwa encouraged the diaspora community to fully capitalize on this opportunity, emphasizing the substantial advantages available in both the short and long term.
He highlighted that the mortgage scheme would soon be officially introduced in the United Kingdom, Canada, and the United States.
NIDCOM boss
Also speaking during the event was the Chairman of the Nigerians in Diaspora Commission (NIDCOM), Ms. Abike Dabiri Erewa, who encouraged those at the event to take advantage of the opportunity.
- She said, “My dear guests seated here and online, I assure you that this is an exciting time to be doing business in Nigeria. And this summit is a step in making investment and growth a reality because as Nigerians, both at home and in the diaspora, we should always be conscious of the fact that home is home, and no one can develop Nigeria like Nigerians,”
This is not a bad idea.
I would be willing to opt in if the 6.9% interest rate is fixed, but if it is variable interest rate, I am out.
It is not us in diaspora that need the mortgages but the Nigerian hard working civil servants especially who are struggling to pay the hicked rent costs
That’s a good supportive and caring gesture if implemented truly.
Hmmm. Charity should begin at home. You have not housed the homeless at home you are going to diaspora.
They are trying to attract dollars back to Nigeria, not Naira.
How does one apply for this program?
You need to Japa first!
I commend this laudable initiative. There are quite a number of Nigerians in diaspora who are willing to invest in housing. Let the scheme be genuinely implemented. Nigerians are ready and willing to retire from there foreign base to Nigeria. I wholeheartedly support the program.
Nice move
Obviously nobody will waive title document of the land. So which land are talking about here
Please stop deceiving people. People should do their due diligence before any purchase whether in Nigeria or outside. That’s common sense
I’m interested
Nice idea, but Nigerian factor will finally happen to it. The supposed administrators and their cronies will loot and embezzle the funds. We are yet to have men of integrity and self respect in governance, till then, another ghost project
This is a welcome idea if it can be implemented well. I am interested.
So how do we apply?the site ….good one if well implemented.
This is a good idea
I am most interested. It’s an excellent initiative.
Hmm look before you leap, the Nigerian government has no working system, don’t be too hurry to drop all your hard-earned money because of this carjoe paparazzi project, you have nobody to hold responsible, easier said than done. A word is enough for the wise🙏
I don’t trust the Nigerian government to follow through with any project. This is a government that is incapable of renewing passports of citizens in diaspora on time and without rancor. Corruption must also find its way into this, as with every government initiative and nobody will be punished. Mark my word!
Interested! How do we access the program ?
Nothing will come out of this program. Now, someone should tell me what’s working in Nigeria before you know it, Someone from nowhere will embezzle all the funds, and there’ll be no one held accountable .Nigeria is a failed state. People in diaspora should think twice before investing their hard earn money into a program that’s not realistic.
Nothing will come out of this program. Now, someone should tell me what’s working in Nigeria before you know it, Someone from nowhere will embezzle all the funds, and there’ll be no one held accountable .Nigeria is a failed state. People in diaspora should think twice before investing their hard earn money into a program that’s not realistic
No country does housing scheme to its citizens living abroad. Nigeria government about to do MMM to her citizens in diaspora. People should be careful and never trust anything coming out from that country. Nigeria lacks men of integrity as leaders hence shouldn’t be trusted. Look before you leap.
Quite interesting with huge potential for majority of Diasporans to play active role in developing our economy back home.
Begin by giving housing loans to Nigerians at home, and if it works, then extend to us outside Nigeria and stop trying to fool Nigerians in diaspora
Nigerians in diaspora/abroad does not need the loan. I believe a lot of Nigerians abroad has their Dollars, Pounds an d Euros to invest in Nigeria. The only thing Nigerians abroad need is make the country a safe place to leave and invest. Immediately these are done, I assure you that Nigerians in diaspora will invest their hard earned Dollars, Euros and pounds. A lot of them has the money to invest but scared of their safety and economic plans in Nigeria. Sometimes a government will wake up one day and come up with a policy that will cripple people’s efforts and their hard earned money. Government can also invest this money in housing so as to reduce the high cost of rental for civil servants and low income earners. These loans can also be available to civil servants and middle class instead of directing it to diaspora/abroadings.
Nigeria 🇳🇬 is not a country for this type of program. So many things are done wrongly in this country. Take care of the citizens that are living in the country itself first, provide enough affordable housing for them, accessible and affordable healthcare for them, constant and affordable electricity supply, and good roads.
Leave diasporians alone !!! They can afford homes in Nigeria without taking any loan.