Real Estate

FMBN to Release ₦100b 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 to provide affordable housing to Nigerians across the country.

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

He said, “Under the Renewed Hope Estates and Housing programme of the current administration, the FMBN will be providing an 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. 

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