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Housing Finance

FG to provide loans to developers for public officers’ houses

The Federal Government on Thursday said it would provide loans at single digit interest rate to developers to build housing units for public officials.

The Head of the Civil Servants of the Federation, Mrs Winifred Oyo-Ita, made this known in Abuja while giving the scorecard of her office in the past three years.

She noted that efforts were concentrated on restructuring the civil service in the past three years in order to achieve integrity and dignity of the civil service for improved service delivery.

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She added that senior government officials were sent to Rwanda to study the country’s public administration and learn from its recovery after the genocide which the country experienced.

She said 10,735 federal civil servants were promoted during the period, 872 converted and 4,527 awaiting result of 2018 promotion examinations.

Oyo-Ita said that already, more than 8,000 civil servants had benefitted from Federal Government’s housing policies initiated to improve on the welfare of public servants.

She also revealed that her office played an important role in the agitation for the N30,000 new minimum wage and the Presidency’s transmission of an executive bill on it to the National Assembly.

She said, “The Federal Government Staff Housing Loan Board is in talks with Family Homes Fund to increase the pool of fund to the Housing Loans Scheme at a single digit interest rate. Also, under the partnership, reputable estate developers who are into partnership with the FGSHLB and Federal Integrated Staff Housing programmes will be considered to access funds at single digit interest rate to build houses for federal public officials.

READ MORE:  Incremental Steps to Cut The Housing Deficit

“Under the FISH programme, which is a strategic initiative to provide quality and affordable housing for public servants, a total of 9,503 units are under construction while 342 units had been allocated. A total of 4,167 members of staff across the service benefited from the FGSHL scheme under the partnership with the Federal Mortgage Bank of Nigeria. Also, 2,077 staff benefitted from the Home Renovation Loan of N1m implemented by the office in partnership with the Federal Mortgage Bank of Nigeria between 2016 and 2018.”

Source: Olufemi Atoyebi

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