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Tag Archives: Housing

NMRC partners Kaduna on mortgage penetration, home ownership

Investors holding back on the Nigerian property market despite opportunities

“In the quest to deepen mortgage penetration and promote home ownership in Nigeria, Nigeria Mortgage Refinance Company Plc (NMRC) has signed a memorandum of understanding (MoU) with the Kaduna State government.”- Vanguard reports. The MoU covers various collaborations between NMRC and the state government in the latter’s determined and structured efforts to facilitate affordable home ownership for its citizens. Among ...

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TUC lauds Nigerian govt on 10 per cent housing equity waiver

TUC lauds Nigerian govt on 10 per cent housing equity waiver

“The Trade Union Congress, TUC, has commended the Federal Government on waiver of the initial payment of 10 per cent housing equity on mortgages below N5 million from housing off takers. Bobboi Kaigama, TUC, President gave the commendation on Monday in an interview with the News Agency of Nigeria in Abuja. The Federal Government had recently approved that henceforth mortgages ...

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Abuja sees 600,000 housing gap as luxury real estate rises

Abuja sees 600,000 housing gap as luxury real estate rises

“Amid the challenge of housing the poorest citizens at a reasonable cost, the findings of a representative household survey in FCT demand affordable housing and related housing finance. The report argues that the potential opportunities in the Abuja market are significant and deserve increasing attention” – The Guardian The lull in activities in the housing industry following the economic recession is ...

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Fashola says Nigeria needs 17 million houses to address deficit

Discos

Mr. Babatunde Fashola, Minister of Power, Works and Housing, has said that Nigeria needs 17 million houses to meet its housing deficit. “Speaking during the commissioning of the Federal Mortgage Bank of Nigeria and Sea Mountain 133 Housing Estate in Minna, Niger State, the minister said: “The ministry will continue to strive to ensure that the challenge of housing deficit, ...

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Imo NHF contributors to get allocation in new scheme

Would you take an opportunity to live as a tenant in Lekki over owning your house in Mushin

“Succour may be in the offing for some contributors of the National Housing Fund (NHF) in Imo State, if recent pronouncements by the Federal Mortgage Bank of Nigeria (FMBN) are anything to go by.” The Guardian reports According to The Guardian, the FMBN financed 100 housing units under the Ministerial Pilot Housing Scheme at Naze, Owerri North Local Council to ...

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Federal Mortgage Bank of Nigeria (FMBN) disburses about N32million to Nigerian army personnel

Nigerian army

Leadership reports that the Federal Mortgage Bank of Nigeria (FMBN) has disbursed about N32million to 383 eligible personnel of the Nigerian Army, contributing to the National Housing Fund (NHF) in the last three years adding that Contributors’ Statement of Account were up to date. The Apapa District Coordinator of the bank, Mrs. Uche Okoli stated this in Lagos when the ...

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Stakeholders urge judicious use of 2017 housing budget

2017 housing budget

The Tide reports that a member of the Nigerian Institute of Architects, Funke Abayomi, while applauding N141 billion allocation of housing in the 2017 Budget, has called for the proper utilisation of the funds to achieve set goals. Abayomi made the call in an interviews with The Tide at Onne, Friday. According to The Tide, she hailed the allocation of ...

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Obanikoro’s wife to forfeit property to Nigerian Government

Obanikoro's wife to forfeit property

Alhaja Moroophat Obanikoro, the wife of a former Minister of State for Defence, Senator Musiliu Obanikoro has been asked by a Federal Capital Territory High Court, sitting in Jabi, Abuja to forfeit her property to the Federal Government while the investigation of her husband and children are ongoing. According to Daily Post, the court subsequently threw out her request that ...

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