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Federal Mortgage Bank of Nigeria

Federal Government to build 150 housing units in Ondo

As part of efforts in making houses affordable for Nigerians, the Federal Government has commenced the construction of 150 units of two and three-bedroom flats in Akure, the Ondo State capital. The project, which is being handled by Meadville Building and Construction Company, is expected to be completed within the next three months.

Speaking during the inauguration of the programme, the State Controller of the Federal Mortgage Bank, Mrs. Mojisola Gbadebo, advised interested members of the public to key into the National Housing Fund Scheme.

Gbadebo said this would enable them to benefit in the acquisition of the buildings as soon as they are completed.

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She further explained that the project was being sponsored by the bank in collaboration with the Federal Housing Authority Homes under the supervision of the Federal Ministry of Lands and Housing.

According to her, a prospective buyer who must be a contributor to the housing fund stands the chance of accessing the loan from the bank with six per cent interest rate with 30 years repayment period.

She noted that the amount to charge the contributor depends on his or her income and age, adding that loan is not exclusively for salary earners but all income earners from the age of 18 years.

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