FMBN/Lagos Govt. inaugurates 72 units housing estate in Sagamu


The Federal Mortgage Bank of Nigeria (FMBN), the Lagos State Development and Property Corporation (LSDPC) on Thursday inaugurated 72 units housing estate in Emuren, Sagamu, Ogun State.

Speaking during the inauguration, Mr Madu Hamman, the Managing Director, FMBN, said the residential housing estate was developed by LSDPC under the FMBN Cooperative Housing Development Loan window.

Hamman said the project, fully funded by FMBN, was in fulfillment of its commitment to the realisation of the home ownership dreams of Nigerian workers who were contributors to the National Housing Fund (NHF) Scheme.

The managing director stated that the commitment led to the development of the FMBN Cooperative Housing Development window through which the estate was delivered successfully.

He said that FMBN had continued to ensure that Nigerians had access to decent and secure accommodation through affordable mortgage financing and access to products in the Nigerian financial services sector.

He appreciated Gov. Babajide Sanwo-Olu of Lagos and Gov. Dapo Abiodun of Ogun, for the support extended to FMBN and the National Housing Fund (NHF) scheme.

“This support has ensured consistency of NHF contributions by the state workforce.

“This project consists of 72 housing units comprising 48 units of two-bedroom terrace apartment and 24 units of three-bedroom semi-detached bungalows.

“The estate is fully serviced with basic infrastructure including internal road network, drainages, electricity, and water to create a conducive and liveable environment,” he said.

“By this endeavor, we are not only reducing the housing deficit in the country, we are also creating jobs and tackling unemployment,” he said.

The FMBN managing director appreciated President Muhammadu Buhari for his support which he said made the project a reality.

In his remarks, Mr Ayodeji Gbeleyi, Chairman, Board of Directors, FMBN, said the projects reaffirmed the commitment of FMBN to deliver affordable housing to Nigerians, who were contributors to the NHF scheme managed by the bank.

Gbeleyi lauded the Ogun State Government for allowing the project to be located in the state, adding that the synergy deserved commendation

In his speech, Sanwo-Olu, represented by the Permanent Secretary, Ministry of Housing, Mr Kamal Olowosago, said that his government would continue to prioritise workers welfare.

Sanwo-Olu commented FMBN for the scheme, saying that the government would continue to collaborate with the bank in ensuring that the state workers benefited more in various housing projects.

Oba Adesegun Abolaji, the Elemuren of Emuren, Sagamu, expressed gratitude for siting the project in his community, promising that he was ready to donate another 20 hectares of land for another phase of the project.


Please enter your comment!
Please enter your name here