Federal Govt Assures Diaspora Nigerians Of Participation In Housing Sector

Federal government has assured African Descendants in Diaspora Union (AFRIDU) of an enabling environment for their participation in Nigeria’s housing market ecosystem.

The government said it would provide the right frameworks for secured homeownership for Nigerians in Diaspora.

The minister of housing and urban development, Ahmed Musa, gave the assurance yesterday in Abuja while expressing the commitment of his ministry to work with the union in order to achieve a shared vision of a prosperous and united Africa that would in turn create a better future for all citizens, both at home and abroad.

A press statement signed by the director Information of the Housing Ministry,  Badamasi Salisu Haiba reveals that the minister told the delegation from AFRIDU that was led by the Union’s Diplomatic Administrator for Nigeria, Dr. Abraham Onwubuya, that the federal government acknowledges the importance of the diaspora, adding that the over 20 million Nigerians in Diaspora remitting an average of over $24bn per annum is a massive capacity, crucial to catalyzing development in all sectors of the nation’s economy.

“We are doing this in collaboration with the Nigerians in Diaspora Commission (NIDCOM) and the two federal housing agencies that are under the supervision of our Ministry which includes the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA),” he said.

He also recalled the launch of the Diaspora Mortgage Loan at the 6th Edition of the Nigeria Diaspora Investment Summit in Sept 2023, a loan designed to enable Nigerians living overseas participate in the National Housing Fund (NHF) Scheme in order to access up to N50 million to own their homes in Nigeria.

While stating that the Federal Mortgage Bank of Nigeria (FMBN) as part of the initiative would facilitate the construction of affordable housing units in major cities that meets the specifications of Nigerians in Diaspora, Arc. Dangiwa notified the Union that the Federal Housing Authority (FHA) is also involved as part of the ministry’s sector wide effort to cater to the Diaspora.

In his words, “They have undertaken to develop the Diaspora City Project under a Public Private Partnership comprising the FHA, The Nigerians in Diaspora Commission (NIDCOM) the Federal Capital Territory (FCT) and the private sector”.

He disclosed that The Diaspora City project is situated at Maitama 2 FCT, with over 675 hectares of land, designed to have bungalows, semi-and detached duplexes, and mansions to reflect its inclusive essence; “The FCT administration has committed to opening the road and providing the relevant infrastructure”, he further disclosed.

The leader of the AFRIDU delegation, Dr. Abraham Onwubuya, appealed for a chance to partner with the ministry in terms of investment in real estate, and also requested the ministry’s assistance in providing them with lands to develop smart homes and cities across the country, for the Africans descendants in diaspora.