Minister of Works and Housing, Mr Babatunde Fashola, has said that access to housing is much easier now in the country.
Fashola made the comment on his Twitter handle after a meeting with the Board of Directors of the Federal Mortgage Bank of Nigeria.
He said, “Today, we met with the Board of Directors of the Federal Mortgage Bank of Nigeria and I can say that access to housing is now much easier since the reduction of equity contribution from five per cent to zero per cent for those seeking loans up to N5m and 15 per cent to 10 per cent for applicants seeking over N5m.”
During the meeting, the Minister said the Ministry of Works and Housing would see that the process of complete re-capitalisation of the Federal Mortgage Bank of Nigeria is completed as the government of the day places importance on housing and consumers credit.
He added, “It is one of those areas of urgent focus by the President as a way of creating prosperity and as a way of enhancing the dignity of Nigerians.
“A lot that could be jointly done by the ministry and the bank in the actualisation of the Next Level agenda of Mr President and the ministry is ready to look at its projects that are on-going and fashion out ways of completing them,”