FG Plans Launch of Diaspora Mortgage Housing Scheme in 2024

 

The Minister of Housing and Urban Development, Ahmed Musa Dangiwa, has announced that the Federal Government plans to launch a mortgage housing scheme for Nigerians in the diaspora in February 2024. The initiative aims to support housing and urban development initiatives for Nigerians living abroad through collaboration with the Nigerians in Diaspora Commission (NiDCOM) for National Development.

During a meeting with the Chairman/CEO of NiDCOM, Hon Abike Dabiri-Erewa, and other management staff in Abuja, Minister Dangiwa expressed the Ministry’s commitment to facilitating housing solutions for Nigerians in the diaspora. He highlighted the recent launch of the FMBN Diaspora Mortgage Scheme at the Nigeria Diaspora Investment Summit, developed in collaboration with NiDCOM when he was the Managing Director of FMBN.

“The overall goal is to ensure that as our brothers and sisters sojourn abroad, they also have a decent shelter over here in Nigeria to call their home,” stated Minister Dangiwa. He further mentioned the Federal Housing Authority’s commitment to delivering on a tripartite mandate, including a Diaspora City Project in partnership with NIDCOM, FHA, and FCT, situated at Maitama 2, covering over 675 hectares of land.

Hon Abike Dabiri-Erewa, discussing President Bola Ahmed Tinubu’s agenda of Democracy, Development, Demography, and Diaspora, commended the Minister’s dedication to the Diaspora mortgage scheme and the forthcoming Diaspora smart city in Abuja. She announced that the official details and unveiling of the Diaspora Mortgage scheme would commence in the UK, USA, and Canada.

The initiative is poised to benefit the estimated 20 million Nigerians in the diaspora, who contribute significantly to the Nigerian economy by remitting an average of over $24 billion annually. The mortgage housing scheme aims to provide a platform for diaspora Nigerians to own decent homes in Nigeria, fostering a stronger connection between them and their home country.