If you are planning to get a mortgage for your housing project below 5 million naira, the federal government has said it will give you a discount of 10%.

This translates to 500,000 Naira discount if your mortgage is just 5 million Naira.

Minister of State for Power, Works and Housing, Mr Mustapha Baba Shehuri, announced this yesterday during the commissioning of a 125-unit housing estate being financed by the Federal Mortgage Bank of Nigeria, FMBN, in Enugu.

Shehuri said the ministry plans to build such mass houses in all the 36 states of Nigeria over the next three years, through an arrangement between the government and private investors.

He explained that national housing models had been designed and approved for each geo-political zone, with special recognition of cultural and climatic diversities in choice of house type and standardisation in the use of local building materials.
According to him, this will translate to affordability of housing for Nigerians and also create employment opportunities.