National Housing Fund: FG inaugurates scheme’s first estate in Lagos

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By Francis Ogwo

The first estate under the National Housing Fund (NHF) Loan Scheme has been launched by the Federal Government in Lagos with the beneficiaries receiving the keys to their apartments.

This was made public by the Managing Director, Federal Housing Authority (FHA)Sen. Gbenga Ashafa in Friday at the inauguration of the Silvercrest Oakwood Estate in Lekki.

Ashafa stated that the estate contains 38 units of 3-4 bedroom apartments and would be the first of its kind in Lagos under the Housing scheme.

He advised income-earning Nigerians to contribute to the National Housing Fund (NHF) for six months to qualify for a mortgage as large as N15 million with just a 6% interest rate.

“The problem is that a lot of people do not know that this kind of interest rate exists, you can only get it in Europe,” he said.

“My advice to Lagos residents is that you don’t have to have that money in bulk, look for your primary institution like the foremost primary institution on housing, FHA Mortgage Bank.

“They will listen to you, they will profile you and they will assist you. They can give you as much as N15 million after looking at your profile and assessing you as an individual who is working to ascertain you have a sustainable income,’’ he added.

In his remarks,the Managing Director, FHA Mortgage Bank, Mr Hayatuddeen Awwal, disclosed that the estate is the 4th estate the fund has supported since the start of the year so far.

“We have done 44 houses in Kano, through an estate fully funded by Federal Mortgage Bank of Nigeria(FMBN). We have done 27 houses in Katsina District of Abuja; we have done 40 in Kuje District of Abuja and here we are in Lagos, handing over keys to seven beneficiaries of the National Housing Funds,” Awwal said.
Note that the newly launched estate is part of a scheme launched by the Federal Government to construct 300,000 homes across Nigeria for low-income earners under its National Social Housing Programme (NSHP).

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