The Federal Government has announced the allocation of 8,925 houses nationwide to deserving applicants through the National Housing Programme (NHP).
Dr. Marcus Ogunbiyi, the Permanent Secretary of the Ministry of Housing and Urban Development in Abuja, disclosed this in a statement issued by the National Housing Programme.
The National Housing Fund (NHF) is a Federal Government initiative that provides low-interest, government-funded loans to Nigerians above 21 years who are in paid employment.
Members of the scheme, including both public and private sector workers, as well as other self-employed individuals, contribute 2.5 percent of their monthly salary to the fund through the Federal Mortgage Bank of Nigeria.
The maximum loan amount under the NHF has been increased from N5 million to N15 million, repayable over a maximum of 30 years at a six percent interest rate.
Mr. Ogunbiyi stated that the first batch of allocations was concluded after reviewing the conditions and procedures for house sales under the NHP.
He mentioned, “Out of a total of 8,925 applications received, 1,294 were for outright payment, 2,408 for mortgage, 2,184 for rent-to-own, and 3,039 for installment payment modes. The offer of new provisional allocation letters for the first batch of successful applicants under the outright payment mode is now ready. The successful subscribers will be contacted by the Federal Controllers of Housing and Urban Development in the states as well as the Chairman/CEO, Nigerians in Diaspora Commission, starting from Thursday for collection.”
Mr. Ogunbiyi added that applicants under the mortgage, rent-to-own, and installment payment modes, who are subscribers to the National Housing Fund, are currently undergoing profiling.
He noted that completed houses are not yet available in Abia, Lagos, Bayelsa, Rivers states, and the FCT, and the allocation of houses in these states will occur after the completion of housing units later in the year.
