The Federal Government is devising a mortgage scheme for Nigerians residing in the United States, Canada, and the United Kingdom.

 

The Minister of Housing and Urban Development, Arch. Ahmed Dangiwa, has announced plans for a mortgage scheme catering to Nigerians residing in the United Kingdom, the United States of America, and Canada. The launch of this Diaspora Mortgage Housing Scheme is slated for February 2024, as revealed by Dangiwa during a meeting with the Chairman of the Nigerians in Diaspora Commission, Hon. Abike Dabiri-Erewa, and select Management Staff in Abuja.

In a statement from the Protocol Unit at NiDCOM, Dangiwa emphasized the overarching objective of providing Nigerians abroad with the opportunity to have a decent residence in Nigeria. He expressed the commitment of the Federal Housing Authority (FHA) to fulfill their tripartite mandate, which includes the development of a Diaspora City Project in collaboration with NIDCOM, FHA, and FCT. This project spans over 675 hectares of land in Maitama 2.

Chairman Abike Dabiri-Erewa commended the Minister for his dedication and involvement, particularly noting the launch of the Diaspora Mortgage Scheme during the Nigeria Diaspora Investment Summit. She highlighted the enthusiasm among Nigerians in the Diaspora for both the Diaspora mortgage scheme and the forthcoming Diaspora smart city in Kabusa, Maitama, FCT.

With approximately 20 million Nigerians in the Diaspora contributing an average of over $24 billion annually to the Nigerian economy, the initiative holds significance in enhancing housing opportunities for this demographic.