FMBN and FHA Collaborate to Provide Affordable Housing in 22 States

Adewole Kehinde
2 Min Read

The Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA) have announced a partnership to provide affordable housing to Nigerians in 22 states under the Renewed Hope Estates Projects of the federal government.

During a courtesy visit by the management of FHA to the headquarters of the Federal Mortgage Bank, Oyetunde Ojo, the Managing Director of FHA, emphasized the importance of the partnership in ensuring the completion and allocation of the estates to beneficiaries.

“We have been in 22 states of the federation. In most states, they gave land for free and they have given us an off-takers guarantee.

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We are here to synergize so we can come together to be partners in progress in delivering affordable houses under the Renewed Hope housing projects,” Ojo stated.

He further explained, “We’re making sure that our books are open which is why we have digitized our processes. So far, we have received 50 hectares, 100 hectares, and 150 hectares from different states of the Federation. Also, we in FHA have decided to build carcass or semi-finished houses. Once we are done, the off-takers will do the finishing, which will be in the range of 1 bedroom and 2 bedrooms.”

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Responding to the partnership, the Managing Director of FMBN expressed the bank’s commitment to ensuring that housing estates initiated across states are completed and allocated in a timely manner.

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