FG Reveals Plans to Set Up a Mortgage Scheme For Nigerians in the US, UK, & Canada
The Federal Government of Nigeria has unveiled its intention to establish a mortgage scheme specifically tailored for Nigerians residing in the United States, United Kingdom, and Canada. Arch. Ahmed Dangiwa, the Minister of Housing and Urban Development, disclosed this initiative, revealing that the mortgage scheme is set to be launched in February 2024.
The announcement took place during a meeting held at the minister’s office in Abuja, attended by the Chairman of the Nigerians in Diaspora Commission, Hon. Abike Dabiri-Erewa, and other management staff. Arch. Dangiwa outlined the objective of the Diaspora Mortgage Housing Scheme, emphasizing its goal to provide a decent shelter for Nigerians living abroad when they return to Nigeria.
“The overall goal is to ensure that as our brothers and sisters sojourn abroad, they also have a decent shelter over here in Nigeria to call their home,” stated Arch. Dangiwa during the meeting.
The Federal Housing Authority (FHA) is dedicated to its tripartite mandate, which includes the Diaspora City Project in collaboration with NIDCOM, FHA, and FCT. The minister shared that the project is situated at Maitama 2, Abuja, covering an expansive 675 hectares of land.
Chairman Abike Dabiri-Erewa commended Minister Dangiwa for his commitment and involvement in launching the Diaspora Mortgage Scheme at the Nigeria Diaspora Investment Summit. She expressed the excitement of Nigerians in the Diaspora regarding both the mortgage scheme and the upcoming Diaspora smart city in Kabusa, Maitama, FCT.
Given that approximately 20 million Nigerians reside in the Diaspora and contribute an average of over $24 billion annually to support the Nigerian economy, this initiative aims to provide housing solutions for Nigerians abroad while encouraging economic contributions to their homeland.
