Fashola Says FG Have Disbursed N20.24 bn For 2,724 Mortgages

The Federal Government on Thursday announced that it had so far disbursed a total of N20.24 billion for 2,724 mortgages to support Nigerians in buying their own homes since May 2015. According to the Minister of Power, Works and Housing, Mr. Babatunde Fashola, the disbursements were made through the Federal Mortgage Bank of Nigeria under the National Housing Fund.

Fashola stated these at the inauguration of the governing boards of the FMBN and the Federal Housing Authority in Abuja. “Since May 2015 to date, the FMBN has issued 2,724 mortgages worth N20.237 billion to assist Nigerians buy their own homes under the National Housing Fund,” the minister said.

Fashola told the board members that the policy of the government was to deliver affordable homes that were acceptable to Nigerians and the two agencies, adding that the FHA and FMBN were the implementing arms of the Federal Government in housing delivery and financing, respectively.

Photo Caption: Minister of Power, Works and Housing, Mr. Babatunde Fashola