Sunday, April 2, 2023
HomeMortgageEkiti State Government Vows To Eliminate Barriers To Accessing Mortgages, Home Ownership

Ekiti State Government Vows To Eliminate Barriers To Accessing Mortgages, Home Ownership

Published on

Expresses readiness to partner relevant stakeholders in housing sector as Family Homes funds approves N2.6billion to build 550 housing units

The Ekiti State Mortgage Board (EKMB), has announced the approval of N2.6 billion by the Family Homes Funds (FHF) to build 550 units of houses in the state.

The board, through its secretary, Oludayo Olorunfemi, gave the revelation in Abuja.

According to Olorunfemi, the housing project commences in March, 2022.

In its continuous bid to ensure home ownership in the state, the board vowed to eliminate barriers to accessing mortgages by providing timely information about mortgages and home ownership opportunities, engaging in proper public enlightenment, as well as partnering with credible developers and other real estate professionals.

According to the board secretary, EKMB was established in May 2021 following the passing of the Ekiti State Mortgage and Foreclosure Law in late 2020 with the vision to make home ownership accessible to interested individuals in the state irrespective of their social class, job type, income level or gender, by way of mortgage.

Ekiti State Government Vows To Eliminate Barriers To Accessing Mortgages, Home Ownership
AIHS 2022

Speaking further, she noted that one of the interventions the board has embarked on is carrying out a housing survey in the State to find out the level of housing need as well as determine what type of houses the state dwellers need and most importantly, what is affordable.

She said: “…the answers to these questions are critical for planning and engaging with potential developers in the housing sector.

We applied to Family Homes Funds on behalf of the government to the National Social Housing Project. After a series of pre qualification, I can proudly announce that the FHF board has deemed the project economically viable in the state by approving N2.6 billion in the 1st phase to build 550 units of houses in Ekiti State. We thank the MD, FHF, Femi Adewole, and his team.”

While drawing attentions to the housing deficit in the country, she noted that a number of partners and those who have seen the enormous potential for growth in the State have joined the conversation and exploring the opportunities that exist in the State’s housing sector.

She said, as enshrined in the Ekiti Homes Agenda, efforts have gone into developing a roadmap for infrastructure development in the State, adding that with the increasing economic development and new businesses coming in, there is a need for housing development to fill the gap that currently exists in the economy.

While describing Ekiti as one of the fastest growing economies in the Southwestern part of the country under the leadership of Dr John Kayode Fayemi, she said the state is open for business to all potential investors.

Olorunfemi, who noted that Ekiti, as a knowledge zone keeps growing at an exponential rate with over 7 educational institutions both public and private, stated that there is need to service the growth and the housing need that comes with it.

“Ekiti is the future, like the proverb says, the time to key in is today and not tomorrow”, She said.

#home #home ownership #Mortgages #family #homes funds #housing units #housing

Latest articles

NSIA Records 10th Consecutive Positive Earnings As Total Assets Hit N1.02trn

The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, recorded its...

US nominee Ajay Banga emerges sole candidate for World Bank top job

Ajay Banga, an Indian-American business leader, is set to head the World Bank after emerging as...

Experts, stakeholders set economic agenda for in-coming govt

The state of Nigeria’s economy has got many fearing for the worse due to...

Shareholders blame Aso Savings of breach of corporate governance rules, asset stripping inmanagement of Union Homes, Petitions SEC,FRCN and CAC

Key HighlightsShareholders have lodged a petition with the Securities & ExchangeCommission (SEC), Financial Reporting...

More like this

Abbey Mortgage Bank marks 31 years of operations

Abbey Mortgage Bank is celebrating 31 years of operating in Nigeria, setting its sights...

Canada Launches $4 Billion Housing Accelerator Fund to Fast Track 100,000 New Homes

The Need for Affordable HousingRight now, in cities across the country, it is too...

Topical Issues in Construction and Infrastructure Law -By Adewale Kupoluyi

He highlighted that, at the core of every public-private partnership arrangement is the building of...