What to know about diaspora mortgage loan for Nigerians
Amidst growing concerns for affordable housing in the country, the federal government has launched an initiative targeted at integrating diaspora citizens in its mortgage programmes Daily Trust reports that Nigeria has a housing deficit of over 15 million, with experts asserting that over N5 trillion is required to bridge the gap. The federal government have […]
In Nigeria, there is a significant housing deficit of over 15 million units, requiring an estimated N5 trillion to bridge the gap. This has spurred the federal government to launch various housing initiatives; however, the demand remains high due to factors such as high inflation and increased costs of importing building materials.
Recently, the Federal Mortgage Bank of Nigeria (FMBN) introduced the Diaspora Mortgage Loan in London, United Kingdom, which aims to assist eligible Nigerians living abroad to access mortgage financing for residential properties in Nigeria. The initiative is being developed in collaboration with Nigerians in Diaspora Commission (NiDCOM) and with technical and regulatory assistance from the Central Bank of Nigeria.
This move is part of FMBN's broader strategy to expand access to homeownership for Nigerians, both domestically and internationally, by creating a secure, transparent, and sustainable pathway to homeownership in Nigeria.
Written by urgent.news from Daily Trust's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
