The Federal Housing Authority (FHA) has launched 100 units of two- and three-bedroom homes at the FHA Estate in Ajoda, Ibadan, signifying the initial stage of a planned 1,000-unit housing development in the region.
At the commissioning ceremony, Oyetunde Ojo, the Managing Director of FHA, stated that this initiative aligns with the Renewed Hope directive assigned to the organization by President Bola Tinubu when the present leadership took office in February 2024.
He issued a directive to revive the hope of Nigerians by providing affordable housing for everyone.
“This location has remained empty since 2018. Our mission is to fix the issues that occurred. This is only the first phase; we have 900 more units left to provide,” he stated.
Ojo mentioned that the initiative would focus on all Nigerians, encompassing the informal workforce, in future stages.
“The informal sector should also gain advantages. They actually possess more resources compared to the formal sector. There is nothing preventing us from assigning 100 to 150 units to them,” he stated.
He pledged residents that there would be sufficient security, and urged the Federal Mortgage Bank to increase public education regarding available mortgage options for potential homebuyers.
Earlier, in his comments, Engr. Remi Omowaiye, FHA Executive Director of Project Implementation and Chairman of the Commissioning Committee, stated that the agency is initiating comparable affordable housing initiatives across 17 states.
‘The upcoming commissioning will take place in Abuja this August,’ he revealed.
Additionally, the Managing Director of the Federal Mortgage Bank, Alhaji Shehu Usman Osidi, mentioned that Nigerians have the opportunity to obtain mortgage loans at a 6% interest rate for a duration of up to 30 years.
Representative of the subscribers,
Professor A. Adenipekun called on the FHA to increase housing options for young professionals.
“There are still numerous doctors and healthcare professionals in need of housing. Once this is finished, the number of subscribers will surpass expectations,” he stated.
Provided by SyndiGate Media Inc. (Syndigate.info).
