FG Recapitalizes FMBN with N500b to reduce housing deficit

Hon Mustapha Shehuri with the Deputy Gov of Nasarawa State, Silas Agara

 

The Minister of State for Power, Works and Housing, Hon. Mustapha Baba Shehuri, has commended President Buhari’s administration decision to recapitalize the Federal Mortgage Bank of Nigeria (FMBN) with additional 500 billion naira to make mortgage facilities accessible to all Nigerians, adding that the government's gesture would further reduce the housing deficit in the country.

Shehuri made the commendation when he paid a courtesy visit to the Governor of Nasarawa State in continuation of his inspection of on-going works on the National Housing Programme (NHP) in the North-Central geo-political zone.

Hon. Shehuri said that the federal government through the ministry was constructing 76 housing units in the state under the NHP as a fulfillment of Mr. President's Campaign promise to provide affordable housing delivery to the people. 

The Governor, Alhaji Tanko Almakura who was represented by the Deputy Governor of the state, Mr. Silas Ali Agara, received the Minister. In his response, Agara appreciated the federal government for initiating the programme.

He added, “This will have a multiplier effect on the economy of the nation by creating employment; enhancing expertise on professionals in the built industry and creating local content market.” He assured the Minister that the state will continue to partner with the ministry to ensure the successful completion of the project.

The Minister later proceeded to inspect the 76-unit Housing Estate comprising 4 units of one-bedroom, 48 units of two-bedroom and 24 units of three-bedroom apartments. He expressed satisfaction with the location and the level of works done so far.

Also inspected is the construction work which is at various levels of completion at the 80-unit NHP project site in Makurdi, Benue State, where he met with contractors, artisans, food vendors, masons and labourers. The Federal Controller of Housing, Engr. Patrick Nziwu was on hand to give the breakdown: 4 units of one-bedroom, 48 units of two-bedroom and 24 units of three-bedroom apartments.

In a related development, the Minister also paid a courtesy call on the Governor of Plateau State, Rt. Hon. Simon Bako Lalong, who was also represented by the Deputy Governor, Prof. Sonny Gwanle Tyoden.

The Minister condoled with the government and the people of Plateau State over the recent death of two of their illustrious sons, the Honourable Commissioner of Housing and Urban Development, Arc. Song Galadima and the husband of the former Deputy Governor of the state, Mrs. Paullen Tallen.

While stating his mission in the state, the Minister expressed appreciation to the government for providing land for the construction of the housing programme, noting that inspite of the present economic situation of the country the administration is resolute in fulfilling its campaign promises to Nigerians including that of housing.  The Minister appealed to the state government to expedite action on its promise to construct a feeder road to link the NHP project site to the major road.

In his response, Prof. Tyoden expressed gratitude to the federal government through the ministry for deeming it fit to make Plateau State one of the beneficiaries of the National Housing Programme.  

He commended the government on its planned recapitalization of the FMBN to the tune of N500 billion, noting that this would encourage home ownership and affordability.

He assured the Minister that action would be taken on the construction of the feeder road to link the NHP project site location.