The Federal Government says it will inject N500 billion into the Federal Mortgage Bank to enable it meet the housing needs of Nigerians.
Minister of State for Power, Works and Housing, Alhaji Mustapha Baba, who disclosed this on Monday in Jalingo, said that the measure would help the the bank to adequately cater for the rising mortgage finance needs of workers.
Baba spoke while inaugurating the ministerial pilot housing scheme project, financed by the Federal Mortgage Bank in the Taraba capital.
He commended the bank’s efforts toward meeting the challenge of housing deficit, in spite of the economic challenges facing the nation.
The minister urged workers to continue to contribute to the housing fund, adding that government would soon commence the construction of 5,000 housing units in each state of the federation, under the public-private partnership arrangement.
Gov. Darius Ishaku, in his remarks, said that the inauguration would reduce the housing needs of civil servants in Taraba.
Represented by his deputy, Alhaji Haruna Manu, Ishaku thanked the contractor for delivering a quality job.