FG Inaugurates First Lagos National Housing Fund (NHF) Estate

• National Housing Fund (NHF) estate
• “My advice to Lagos residents is that you don’t have to have that money in bulk, look for your primary institution like the foremost primary institution on housing, FHA Mortgage Bank.

The Federal Government on Friday inaugurated and handed over keys to beneficiaries of its first National Housing Fund (NHF) Loan Scheme at Lekki, Lagos State, the News Agency of Nigeria (NAN) reports.

NAN reports that the project is part of ongoing 300,000 units of affordable Housing Scheme of the Federal Government.

Sen. Gbenga Ashafa, Managing Director, Federal Housing Authority (FHA), while inaugurating Silvercrest Oakwood Estate in Lekki, said the 38 units of three and four bedroom completed apartments were the first in Lagos State.

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Ashafa advised Sustainable Income Earners to make up to six months contributions to the National Housing Fund (NHF), to qualify for a mortgage of as much as N15 million at a six per cent interest rate.

“This is the very first project that I am coming here to hand over keys in Lagos.

“The problem is that a lot of people do not know that this kind of interest rate exists, you can only get it in Europe.

“They will listen to you, they will profile you and they will assist you. They can give you as much as N15 million after looking at your profile and assessing you as an individual who is working to ascertain you have a sustainable income,’’ he said.

He said that the Muhammadu Buhari administration was committed to bringing back life to the housing industry by encouraging the private sector with minimal risks.

He commended the developers of the new estate who went into partnership with the FHA to make the project a reality.

On the proposed redevelopment of FESTAC extension, Ashafa explained that an out of court settlement was underway with encroachers through a Verification, Regularisation, Rejuvenation and Recovery strategy.

He added that the FHA had gone into negotiations with residents associations.

He said that FESTAC housed more than 600,000 Nigerians and all the facilities were down hence the Federal Government’s collaboration with private sector in the renovation of the estate.