NDIS 2023: FG unveils N50m housing mortgage scheme for Nigerians in diaspora

The Federal Government has launched the Diaspora Housing Scheme with  a facility for Diaspora access up to N50 million naira loan for mortgage with an interest rate of 6.9 per cent, paid over a period of 10 years.

The Minister of Housing and Urban Development, Architect Ahmed Dangiwa launched the scheme at the sixth edition of the Nigeria Diaspora Investment Summit (NDIS) in Abuja yesterday.

The Minister, who initiated the scheme while serving as the MD/CEO of the Federal Mortgage Bank of Nigeria, described his position as a positive twist of fate.

Dangiwa who said that the Mortgage scheme will be formally launched in the United Kingdom, Canada, and the United States soon, called on the Diaspora community to take full advantage of the opportunity and massively subscribe to reap its short and long-term benefits.

“I want to use this opportunity to urge Nigerians in the Diaspora to take advantage of this Scheme which allows them to actualise their dreams of owning affordable homes in Nigeria,” he said.

The Minister assured the Diaspora of his commitment to protect their investments in the sector and his tenure will ensure that relevant incentives are provided as he will willingly support Diaspora initiatives.

Dangiwa also encouraged the Diaspora to key into  the Diaspora City Project which is in collaboration with NiDCOM, FHA, the Federal Capital Territory Administration and the Private Sector.

“This city will accommodate bungalows, semi-bungalows, terrace, mansions and other infrastructures for the convenience of the Diaspora,” he explained.

NIDCOM Chairman/CEO, Hon. Abike Dabiri-Erewa explained that the scheme has been in the heart of the Commission and will do all it takes to actualise it, hence the launch.

The theme of the 2023 hybrid summit is, ‘New Vistas, New Aspirations, New Opportunities: The Diaspora and National Development.’