FG allocates 8,925 houses nationwide to address housing shortage

The Federal Government has allocated 8,925 houses nationwide under the National Housing Programme (NHP), addressing housing challenges in Nigeria.

Dr. Marcus Ogunbiyi, the Permanent Secretary of the Ministry of Housing and Urban Development, made this announcement in Abuja.

The allocation process concluded after a review of conditions and procedures for house sales under the NHP. Out 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 Instalment payment modes.

New Provisional Allocation Letters for the first batch of successful applicants under the Outright Payment mode are ready.

Successful subscribers will be contacted by Federal Controllers of Housing and Urban Development and the Chairman/CEO of the Nigerians in Diaspora Commission (NIDCOM).

Applicants under Mortgage, Rent to Own, and Instalment payment modes are undergoing profiling. Notably, there are no completed houses in Abia, Lagos, Bayelsa, Rivers States, and the Federal Capital Territory (FCT). Allocation in these states will occur after housing unit completion later in the year.

The National Housing Fund (NHF) provides low-interest, government-funded loans to Nigerians above 21 years in paid employment.

Members contribute 2.5% of their salary to the fund. The maximum loan amount under NHF is N15 million, repayable over a maximum of 30 years at a six percent interest rate.