Delta partners FMBN on workers’ housing estate

Delta State Governor, Sheriff Oborevwori, yesterday, formally handed over a Certificate of Occupancy (C of O) to the Federal Mortgage Bank of Nigeria (FMBN) for the development of a workers’ housing estate in Ibusa, Oshimili North Local Council of the state.

The project, covering 10.1 hectares of land at Core Area 2, Ibusa, is to be executed in partnership with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

Oborevwori, while presenting the C of O to the FMBN management led by its Executive Director, Loans and Mortgage Services, Dr. Mohammed Sani Abdul, at Government House, Asaba, stressed that the initiative was necessitated by the high proportion of workers’ income expended on rent.

According to him, junior and middle-level workers often devote the bulk of their salaries to accommodation, making affordable housing a pressing need. He disclosed that statutory fees amounting to about N200 million were waived to facilitate the process, even though the C of O had been ready since January 2024 but delayed due to administrative bottlenecks.

He appealed to the mortgage bank to ensure timely delivery of the project and make it accessible to the intended beneficiaries.

Commending the governor, Abdul noted the administration’s investment in infrastructure across the state, particularly in Asaba and its environs. He urged local councils in Delta to contribute to the National Housing Fund to enable the bank extend housing interventions to the grassroots.

Abdul further disclosed that the bank is currently executing about nine housing projects in Lagos, Abuja, Kano and other states, and is determined to replicate similar developments in Delta.

He added that the FMBN remains committed to reducing Nigeria’s housing deficit, estimated at between 20 and 22 million units, through mortgage financing and construction loans.

“With the Renewed Hope Mega Mini-City initiative of the Federal Government, our target is to provide affordable housing for Nigerians at all levels, especially those at the bottom of the pyramid. Delta is critical to the success of this national agenda, and we are determined to make a lasting impact here,” Abdul said