FMBN to release N100bn off take guarantee for renewed hope estates

The Federal Mortgage Bank of Nigeria has revealed that it is providing a N100 billion off taker guarantee for provision affordable housing to Nigerians across the country.

The Managing Director of the FMBN Shehu Usman Osidi made the disclosure yesterday in Abuja when a delegation of Ekiti State government paid him a courtesy.

He said “Under the Renewed Hope Estates and Housing programme of the current administration, the FMBN will be providing a N100 billion off take guarantee to a consortium of developers to access funding so they can build 100,000 units of affordable houses to Nigerians in the 36 states

“The president said he wants to turn the country into a major construction site to create employment and improve the economy and the minister has been going round to launch renewed hope of housing estates in different states,” he said.

Also speaking, the representative of the governor of Ekiti State, Gboyega Oloniyo who is the Special Adviser to the Governor on Housing and Mortgage Development said the governor had made shelter a huge priority. 

He added that “The purpose of the visit is to partner with the FMBN to see how the bank can provide funding for affordable housing units to end users who have contributed to the national housing fund over the years,”