News

Diaspora Mortgage Housing Scheme To Launch In February 2024

Published

11 months ago

Dec 13, 2023.

EKO HOT BLOG reports that the Ministry of Housing and Urban Development is gearing up to support Diaspora initiatives in the housing sector with the imminent launch of the Diaspora Mortgage Housing Scheme scheduled for February 2024 in the UK, Canada, and the USA.

This initiative aims to forge partnerships between the Nigerians in Diaspora Commission for National Development and stakeholders in the housing and urban development sector.

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The Minister of Housing and Urban Development, Arch. Ahmed Musa Dangiwa, expressed his enthusiasm for fostering ties with the Diaspora, emphasizing the importance of ensuring Nigerians abroad have access to decent housing back home.

The scheme also aligns with the government’s commitment to the Diaspora, highlighted by the recent launch of the FMBN Diaspora Mortgage Scheme during the Nigeria Diaspora Investment Summit.

The forthcoming launch will witness the unveiling of detailed plans for the Diaspora Mortgage Scheme, with the Minister initiating proceedings in the UK, USA, and Canada. Additionally, the Federal Housing Authority is dedicated to delivering a Diaspora City Project in collaboration with NIDCOM, FHA, and FCT, spanning over 675 hectares in Maitama 2.

Hon Abike Dabiri-Erewa, Chairperson/CEO of the Nigerians in Diaspora Commission, commended the Minister’s unwavering commitment to the Diaspora, expressing excitement about the Diaspora Mortgage Scheme and the upcoming Diaspora smart city project in Kabuso, Maitama 2.

She highlighted the substantial economic contribution of the Diaspora, with approximately 20 million Nigerians abroad remitting over $24 billion annually, fortifying the Nigerian economy.