Cooperatives to Now Access Housing Loans

Cooperative societies across the country will now be able to access housing loans from the Federal Mortgage Bank of Nigeria.

This is major fallout of the 8th National Council on Lands, Housing and Urban development, to enable workers own houses and live above the poverty line.

Researchers identify shelter as next only to food and clothing in the hierarchy of human needs.

Yet, house rent is said to consume up to 60% of the income of average Nigerian workers, a recipe for hard life.

This is the 8th national council on lands, housing and urban development. It is a convergence of like minds. Most states of the federation are represented. Private developers are not left out.

The arrival of the Minister of Works and Housing, Babatunde Fashola calls the house to order. He speaks to the theme; Housing Development and Consumer Credit as Strategies for National Prosperity.

The chief implementer is in a hurry. He breaks it down, even further.

And then, the legislature promises the needed support to smoothen the process.

It may seem like a long way to go for the ordinary man, but a first step has been taken and with all relevant players agreeing to work together, only time will tell.

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