According to Leadership, the Acting Managing Director of the Bank, Mr Richard Esin said the project known as the FMBN/Ebonyi State Housing Development Corporation’s housing estate, has a total of 240 housing units with 72 units completed.
Mr. Esin who disclosed this during the inauguration of houses at Ezzambgo, Ohaukwu LGA of Ebonyi by the Minister of State for Power, Works and Housing, Alhaji Mustapha Shehuri the housing units consist of 5 units of 3-bedroom fully detached bungalows, 30 units of 3-bedroom semi-detached bungalows and 12 units of 2-bedroom terrace.
“It also consists of 20 units of 2-bedroom semi-detached bungalows and 5 units of 1-bedroom terrace,” he said.
Esin noted that the FMBN in its desire to positively impact on the housing sector of Ebonyi, invested a total of N431million towards the project.
“The development of this housing estate is an affirmation of the tangible achievement of the federal government in providing affordable housing for all Nigerians and the crucial role we play in achieving it,” he said.
He remarked the minister of power, works and housing has graciously approved that National Housing Fund (NHF) loans of N5million and below will attract 100 per cent funding.
“This is to further lower the affordability bar, as the loan applicants will not be required to make down payments of 10 per cent of the house.
Alhaji Mustapha Shehuri, Minister of State for Power, Works and Housing noted that the President Muhammadu Buhari’s led administration prioritizes the provision of affordable housing for Nigerians.
“The federal ministry of power, works and housing will continue striving at ensuring that the challenge of housing deficit in Nigeria, put at 16-17million units is surmounted.
“The ministry plans to construct mass housing units in every state of the federation for public workers and individuals, over the next three years under a Public-Private partnership arrangement.
Governor David Umahi noted that the agreement for the construction was signed by the state government and FMBN on July 11, 2005 for the bank to offer 422million in developing 240 housing units.
“The agreement stipulated that the fund be released in three tranches but the first tranch of 168milllion released that july was only accessed in 2006.
“The FMBN did not release any other fund for the project till 2011 when it released N126m that was accessed in 2014,” he said.
Dr Chamberlain Nwele, State Head of Service noted that in adherence to the governor’s directive, all 72 housing units have been allotted to beneficiaries through due balloting process.