By Ebunoluwa Olawale, JKNewsMedia Intern
HOUSING LOAN scheme of N10 billion has been approved to bridge the housing deficit and improve access to affordable homes for low- and middle-income workers.
JKNewsMedia.com reports that the Head of Service of the Federation, Mrs Didi Esther Walson Jack, announced the scheme in Abuja on Friday during a joint press conference with the Federal Mortgage Bank of Nigeria, National Pension Commission and other agencies.
She said, “The President has approved a ten billion naira housing loan scheme for civil servants to improve access to home ownership for civil servants. This loan will be facilitated through the Federal Mortgage Bank of Nigeria and the Federal Government Staff Housing Loans Board (FGSHLA).
“There’s a saying that a person who owns their own home, they stand differently. When a civil servant knows that their family has a place they can call their own, they come to work with a different swagger. With more stability, more focus, and more purpose which is why the federal government has announced this scheme.”
She also announced incentives for civil servants, including providing 100% of a retiring employee’s total annual emoluments to Treasury funded civil servants under the Contributory Pension Scheme, effective from 1 January 2026 in accordance with Section 44A of the Pension Reform Act 2014, which empowers employers to grant additional retirement benefits.
Other incentives include an increase in peculiar allowance and payment of full duty tour allowance at 100% for civil servants attending approved training programmes at approved manpower development institutions, estacode and book allowance.
She explained that the adjustments were calibrated to reflect current economic realities.
Managing Director of the Federal Mortgage Bank, Shehu Usman Osidi, said the partnership with the Federal Government Staff Housing Loans Board marks the beginning of transformation to improve affordable housing for Nigerians, especially civil servants.
“The formalization of a strategic partnership marks the dawn of a renewed commitment to improving the lives and welfare of Nigerian workers, particularly our hard-working Federal Civil Servants, who remain the backbone of our nation’s civil service. At the FMBN, we hold firmly to the belief that access to safe, decent and affordable housing is not a luxury but a necessity. It is central to dignity, productivity and national development.
“This is why our core mandate, driven through the National Housing Fund scheme, has consistently focused on expanding access to affordable housing finance for Nigerian workers. Over the years, we have supported thousands of Nigerians to achieve home ownership through the National Housing Fund mortgage loan scheme.
“The Federal Mortgage Bank of Nigeria will provide funding to the FGSHLB for on lending to federal civil servants.
“It will provide multiple options tailored to meet the diverse housing needs of workers, whether for homeownership, renovation, rent support, or incremental housing development.
“In today’s Nigeria, the need for innovative housing solutions cannot be over emphasised, given the rising housing income and rising prices of building materials,” Osidi said.
—
Do you have a news tip for JKNewsMedia.com? Please copy and email us at jkmediapress@gmail.com.
