Nigerians living abroad can soon expect to benefit from a dedicated mortgage scheme, set to launch within the next three months.
In a press statement signed by Gabriel Odu, Media, Public Relations, and Protocols Unit, NiDCOM said this comes after a strategic meeting between the Nigerians in Diaspora Commission (NiDCOM) and the Federal Mortgage Bank of Nigeria (FMBN), aimed at fine-tuning the Diaspora Mortgage Housing Scheme.
He added that during the meeting, Hon Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, and Mr. Shehu Usman Osidi, the newly appointed Managing Director of FMBN, discussed the progress of the project and the transition following the recent leadership change at the FMBN.
According to the statement, the project will undergo a three-month test phase to ensure the platform’s efficiency and user-friendliness, adding that this trial period aims to address any potential technical issues and allow the new management to familiarise themselves with the project before its official launch.
The statement further added that the Diaspora Mortgage Housing Scheme, which targets Nigerians living abroad, intends to provide them with the opportunity to own homes in Nigeria, enhancing investment in the country and contributing to economic sustainability.
He quoted the new FMBN Managing Director, Mr. Shehu Usman Osidi as saying that “Providing a platform for Diaspora Nigerians to access housing funding is a significant step from the Federal Government, recognising the diaspora’s contribution to the nation’s economy.”
Odu further said that the scheme is expected to boost job creation and increase demand for Made-in-Nigeria products and services, thereby supporting the country’s GDP, adding that both parties, NiDCOM and FMBN, have revised the Memorandum of Agreement for the scheme and established a six-person technical team to oversee the final stages of the project.
“We are committed to ensuring that this initiative not only succeeds but also strengthens the ties between Nigeria and its diaspora community,” stated Hon Dabiri-Erewa.
The launch of the Diaspora Mortgage Housing Scheme is expected to take place before the second half of the year.
