NDDC, FMBN Enlightens Staff on Housing Scheme Benefits

In a bid to bolster affordable housing initiatives in Nigeria, the Niger Delta Development Commission (NDDC) and the Federal Mortgage Bank of Nigeria (FMBN) have raised their collaboration efforts by enlightening staff of its housing scheme benefits.

Speaking at the interactive session held at the commission’s headquarters in Port Harcourt, the NDDC Director, Administration and Human Resources, Mr. Patrick Ekade, stressed the need to provide affordable housing for workers, noting that, “shelter is a fundamental human right.”

Ekade, who was represented by Director, Administration and Human Resources Directorate, Anele Stephen Nzelaw, noted that every employee was expected to make a mandatory contribution of two and a half per cent of their monthly earnings into the fund, managed by the Federal Mortgage Bank.

He said that it was necessary to sensitize NDDC staff on the housing scheme being managed by the FMBN.

Making a presentation, the Port Harcourt Branch Manager of FMBN, Mr. Melody Ukwa, highlighted the bank’s role in addressing Nigeria’s housing deficit by providing affordable housing loans. He explained that NDDC staff could benefit from housing development loans and individual loans with single-digit interest rates.

He explained: “Housing is a basic human right and a key factor for social and economic development. The FMBN, as the apex mortgage institution in the country, has a critical role to play in addressing this challenge. The FMBN has been providing mortgage finance and facilitating home-ownership for low and medium-income earners through its various schemes and products. However, these efforts are not enough to meet the growing demand for shelter and the expectations of the Nigerian people.”