The Federal Mortgage Bank of Nigeria (FMBN) is partnering with Trademore International Holdings Ltd. to construct 5,000 housing units for civil servants in Abia State.
Chairman, Trademore Int’l Holdings Ltd., Engr. Emmanuel N. Mbaka, stated this at the foundation laying ceremony of the estate in Ngwu/Ubani Community, Uzoakoli Road, Umahia, Abia State.
He said the housing estate, sitting on over 250 hectares of land, is the first of its kind not only in Abia State but in the entire South East.
Engr. Mbaka said the idea of the housing project was conceived by the Abia State government in order to ease the housing problems of civil servants and self employed people of the state and also to bring housing and infrastructural development to the communities.
He said the project will be developed in phases with the pilot phase containing 1,000 housing units to be completed within the first 24 months while the second and third phases will follow subsequently.
The Chairman assured civil servants and self-employed individuals of stress-free mortgage procedures in buying the houses and assured of speedy processing of National Housing Fund (NHF) loans for individuals willing to buy into the estate.
Managing Director of FMBN, Mr. Gimba Yau Kumo, in his address, said the issue of providing decent and affordable housing for Nigerians is not the sole responsibility of the Federal Mortgage Bank of Nigeria. “We cannot tackle it alone. We must involve everybody. So, we need everybody’s cooperation in this respect.”