The National Housing Programme (NHP) has seen the Federal Government allocate 8,925 houses to eligible applicants across the country, as announced by Dr. Marcus Ogunbiyi, the Permanent Secretary of the Ministry of Housing and Urban Development in Abuja.
Following a meticulous review of the conditions and procedures for house sales under the NHP, the initial phase of allocations has been completed. Out of the total 8,925 applications received, 1,294 were for outright payment, 2,408 for mortgage, 2,184 for Rent-to-Own, and 3,039 for Instalment payment options.
New Provisional Allocation Letters for the first set of successful applicants in the Outright Payment category are now available for collection. Successful applicants will be contacted by the Federal Controllers of Housing and Urban Development in the states, along with the Chairman/CEO of the Nigerians in Diaspora Commission (NIDCOM), starting from Thursday.
Applicants under the Mortgage, Rent-to-Own, and Instalment payment categories, who must be contributors to the National Housing Fund (NHF), are currently undergoing profiling. Notably, completed houses are not yet available in Abia, Lagos, Bayelsa, Rivers States, and the FCT. Allocation in these states will occur once the housing units are finished later in the year.
The NHF, a Federal Government initiative, offers low-interest, government-funded loans to employed Nigerians above 21 years. Scheme members contribute 2.5% of their monthly salary to the fund through the Federal Mortgage Bank of Nigeria. The maximum loan amount under the NHF has been raised from N5 million to N15 million, repayable over a maximum of 30 years at a six percent interest rate.
