The Federal Mortgage Bank (FMB) is investing in a 5,000 housing project, the bank’s Managing Director, Ahmed Dangiwa has revealed.
The N40 billion worth project, Dangiwa also said will create about 85,000 jobs.
The project which is tagged “Mini and Mega City Project” is part of the the National Economic Sustainability Programme, NESP under the supervision of the Vice President, Prof. Yemi Osinbajo.
Meanwhile, the FMB boss has advocated for the introduction of an annual tax on all unoccupied houses in the country as a way of checking money laundering.
Dangiwa spoke during the Annual General Meeting, AGM of Real Estate Developers Association of Nigeria, REDAN in Abuja.
He said the housing project is part of the Federal Government’s efforts to bridge the housing gap in the country and to also cushion the effect of Covid-19 on the populace.
Dangiwa said “The President through the Vice President, Prof. Yemi Osinbajo inaugurated the National Economic Sustainability Programme, NESP to cushion the effect of Covid-19 especially on job creations and FMB was directed to deliver 5,000 affordable houses to Nigerians at the cost of N40 billion to which we have started investing.”
He also stated that the project tagged “Mini and Mega City Project” was initiated to create job opportunities for Nigerians and to provide affordable houses.
He said the project is ongoing in three locations in the Federal Capital Territory, FCT and its environs.
“The investment will create no doubt 85,000 jobs at 17 jobs per house to stimulate the economy and create more jobs for the nation.”
On how to avert money laundering, Dangiwa suggested that the government should introduce an annual tax for all unoccupied houses in the country.
He said that the Federal Government remains resolute in ensuring that the sector complies with money laundering and other extant laws.
He also assured labour of the bank’s partnership, saying that it will ensure mass housing schemes in the country.
