Kaduna State has earmarked about N3billion to provide affordable houses for residents within the State.
The Executive Secretary, State Mortgage and Foreclosure Authority, Alhaji Yahaya Aliyu Lere disclosed this in an interactive session with NUJ- FRCN kaduna Chapel at his office in Kaduna.
Alhaji Yahaya Aliyu Lere explained that the aim was to assit Kaduna State residents especially those in the low and medium income grades own their homes at an affordable mortgage rate.
This according to him, will also augument the Federal Government efforts in providing 400 houses in each of the 774 Local Govt areas across the country which the state will have about 10,000 to be constructed under the Economic Sustainability Plans.
“In a bid to provide affordable mortgages, the Nigeria Mortgage Refinance Company NMRC has signed an agreement with Kaduna State Government and Federal Housing Authority Mortgage Bank”
“The agreement signed is part of the schemes put in place by the state government known as the Mortgage Blended Initiative. It is aimed at mortgage creation and refinancing at a single-digit interest rate with an initial investment of N3 billion” he added
The Executive Secretary, said the amount allocated for the project had started yielding positively as the state government would commence distribution of the first batch of the houses financed to the beneficiaries soon.
According to him, the authority partnering for provision of houses with NUJ-FRCN chapel members is a step in the right direction while reassuring government’s commitment towards improving welfare of its residents.
Speaking, Chairman of NUJ-FRCN Kaduna Chapel, Comrade Umar Sarkin Fada Adamu who hinted that arrangements were already in advanced stage, appreciated Fruitful engagement with the authority.
He noted that the leadership of the union would meet and work out modalities for its members to immediate apply for the houses.