From Tony John, Port Harcourt
The Niger Delta Development Commission (NDDC), in conjunction with the Federal Mortgage Bank of Nigeria (FMBN), organised a sensitisation session to educate its staff on the provisions and benefits of the National Housing Fund Scheme.
Speaking at the interactive session held at the Commission’s headquarters in Port Harcourt, Rivers State, the NDDC Director of Administration and Human Resources, Mr Patrick Ekade, stressed the need to provide affordable housing for workers, noting that “shelter is a fundamental human right”.
Mr Ekade, represented by another director in the Administration and Human Resources Directorate, Anele Stephen Nzelaw, noted that every employee was expected to make a mandatory contribution of 2.5% of their monthly earnings into the fund, managed by the Federal Mortgage Bank.
He said it was necessary to sensitise NDDC staff about the housing scheme managed by the FMBN.
In his 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.
“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 homeownership 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,” he said.
Mr Ukwa described the huge housing deficit in the country, which affects millions of Nigerians, as a serious challenge requiring urgent and innovative solutions.
“Our objective is to operate as a robust and dynamic mortgage institution with the capacity to meet the challenges that arise from developing the nation’s mortgage industry,” he stated.