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| A newly-constructed building |
The Minister of
Lands, Housing and Urban Development, Ms Amal Pepple said the Nigerian Mortgage
and Finance Corporation, NMFC as announced by the federal government will broaden
access to housing/mortgage finance in the country.
She made this statement
at the inauguration ceremony of the board of the FMBN in Abuja yesterday.
Pepple said the announcement
by President Goodluck Jonathan at the commemoration of the reclamation of
5,000,000 square meters of land for the Eko Atlantic City project, is one of
the immediate measures being undertaken to broaden access to mortgage finance.
“The opening of
this window is an additional incentive for the creation of a new pool of
potential home owners through the facilitation of access to affordable
mortgages,” she disclosed.
The minister however
urged the FMBN to see to the completion of the President Goodluck Jonathan Legacy
Estate, which she said will deliver affordable and high-quality housing through
commercial funding as a model for replication by private and government-owned
estate development companies.
“I urge you to develop
alternative funding mechanisms and attract investments from local and global
capital markets at costs and tenors matching the needs of mass housing
delivery,” she added.
The new board of the
FMBN is to be chaired by Chief Olabisi Ogunjobi. On his part, Ogunjobi said his
board will do everything within their power to take the bank (FMBN) to greater
height.
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