The Federal Government has approved a ₦10 billion housing loan scheme to provide civil servants with easier access to home ownership through the Federal Mortgage Bank of Nigeria and the Federal Government Staff Housing Loans Board.
The Federal Government has officially approved a ₦10 billion housing loan scheme aimed at expanding access to home ownership for civil servants across the federation. The Head of the Civil Service of the Federation, Didi Walson-Jack, announced the development during a press briefing on Friday in Abuja. She noted that the initiative is a strategic move to bolster the welfare of the government’s workforce and drive higher levels of productivity within the service
The implementation of the multi-billion naira scheme will be facilitated through a partnership between the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Government Staff Housing Loans Board (FGSHLB). By streamlining the credit process through these established institutions, the government intends to lower the barriers that have historically hindered public servants from acquiring their own properties.
Speaking on the expected impact of the program, Walson-Jack emphasized that the security of a home is directly linked to professional output. “The Federal Government has approved a ₦10 billion housing loan scheme 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,” she said. She further explained that owning a home has a strong impact on workers’ morale and performance.
READ THE FULL STORY IN PM NEWS
NEWS NOW:
- Top 10 countries with the most asylum approvals in Canada in 2025
- VIDEO: Oyedepo tells worshippers to give kidnappers his phone number when abducted
- 2027:You have no choice but to support Tinubu, Fubara tells Nigerians
- ‘Why are we still borrowing?’: Sanusi criticises continued borrowing despite subsidy removal