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Fashola urges cooperative societies to leverage on FMBN advantage

Minister of Works and Housing, Babatunde Fashola during the inauguration of an estate under the federal Mortgage Bank of Nigeria cooperative Housing Development Loan at Kuje, Abuja. Photo: Ibrahim Shaibu (Radio Nigeria).

Federal Government has inaugurated a zonal and national cooperative development partnership scheme towards upscale housing scheme to FastTrack the delivery of affordable housing to Nigerians.

The Minister of Works And Housing, Babatunde Fashola performed the ceremony at Kuje Area Council in Abuja.

The Cooperative Housing Estate constructed for members of the Akacare Cooperative Society was the first to be inaugurated since the inception of the Federal Mortgage Bank of Nigeria.

The estate consists of two hundred and thirty units of two-bedroom semi-detached and three bedrooms fully detached house out of which one hundred and fifty of it were being completed and inaugurated.

One of the two hundred and thirty units of two-bedrooms semi-detached houses. Photo: Ibrahim Shaibu (Radio Nigeria).

Performing the ceremony, the minister of works and housing, Babatunde Fashola urged other cooperative societies across the country to organise themselves and leverage on the opportunity available at the Federal Mortgage Bank to secure houses for their members.

” Let me commend the architect, the property development company, the cooperative members and the subscribers . And I choose them in that order because without that partnership , the subscribers who want a house , who are ready to pay for it, a developer who is committed to the delivery and most importantly a bank that can translate their dream and vision into actual home stead where people can now say I have shelter, that partnership is important and we want to do more of it”

Mr Fashola added that the federal government infrastructural programme has been impacting positively on the people.

Last year President Muhammadu Buhari made a speech in which he committed a vision to lead one hundred million Nigeria out of poverty in the next ten years and some of the mechanics of addressing this problem is commitment to infrastructure, commitment to housing, he said.

The Managing Director Federal Mortgage Bank, Mr Ahmed Dangiwa said twelve beneficiaries were already living in the estate with the remaining buildings already subscribed by members of the cooperative society.

” FMBN is not resting on its oars. The second phase of the project has already commenced and now at about ninety-five per cent completion. This houses that are about to be completed are fully subscribed waiting for completion and the occupants will be handed their keys”

The Chairman Federal Mortgage Bank Board of Directors, Dr Adewale Adeeyo stressed the need to recapitalize the Federal Mortgage Bank with five hundred billion naira to enable it to deliver more on it’s a mandate.

A beneficiary, Mrs Ahmed Salamat and her husband Ahmed Salawu Who are among the first occupants described it as a dream come true.

The Minister of the Federal Capital Territory, Mallam Muhammed Bello represented by the Director Public Building, Mr Tony Odike while noting that the estate would fast track development in the area council expressed the commitment of the FCT administration to scale up infrastructure in the area council.

Ibrahim Shuaibu

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