FG Inaugurates 100 Housing Units in Ondo Fidelis David in Akure As part of measures to deliver decent, safe, and quality housing for Nigerian workers at affordable prices, the federal govern
As part of measures to deliver decent, safe, and quality housing for Nigerian workers at affordable prices, the federal government yesterday commissioned 100 housing units at Ilara-Moki, in Akure, Ondo State.
Chukwuma said that the housing unit comprised of 20 units of 1-bedroom detached bungalows; 40 units of 2-bedroom detached bungalows and 40 units of 3-bedroom detached bungalows, fully serviced with basic infrastructure including internal road network/drainages, electricity, and water reticulated to all the housing units to create a conducive and livable environment.
“It is extremely important to note that besides the fact that FMBN provided the construction funds for the development of this housing estate, at a concessionary interest rate of 10 per cent, it cannot be forgotten that the bank also provides mortgage financing for the purchase of these houses to the buyers at the rate of 6.0 per cent, which is also the lowest interest rate in Nigeria with a repayment period of over 25 years.
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