ShyM-X:


But don't most of the diasporans own homes in Nigeria? How many of them have returned to live there? I don't know any family in the UK that has lived here for more than 2 decades without home(s) in Nigeria. However, none of them live there - they own them just for the sake of it and no one wants to live in Nigeria the way it's at the moment.

Let not your heart be troubled. With patience and good luck, Naija will get there.

CFCfan:

Let not your heart be troubled. With patience and good luck, Naija will get there.

I see you, don

I'm not troubled - it's just about asking questions and analysing everything critically before singing "kumbaya" with the choir. We as a people need reality check - we just can't continue like this. We've got everything we need to excel. However, because we've become book readers and lazy thinkers; without analysing everything - hence why we're in the pitiful state that we're in.

We need to start questioning everything. Let's do the right thing at the right time. The world can't wait for us forever and they can't continue to subsidise everything we do. Time is of the essence, brother.

The renaissance, brother!

Provide infrastructure, safety and healthcare, people will come home.. Granting a mortgage isn't going to bring anyone home

The same way OBJ deceived diasporans and homebase Nigerians alike with Transcorp and chop our money. Only a stupid diasporans will enter into any sort of patnership with Nigeria Federal govt. The FG are the biggest 419ners ever.

Is Nigerian government encouraging emmigration

daywatcher: Nonsense. They should worry about Nigerians living in Nigeria first. Most diasporans will buy the house and rent it out at extortionate prices. I think this guy just want to justify he's salary

gbammmmmm! you got it right

This is absolute madness....dis anoda avenue for them to carter away our money,I don't just knw for this my govt oo is that they don't think we that are here haven't seen enough house to rest our head they there thinking pple in diaspora....if ppl in abroad complaining abt house let them come back to their country or who sent them there in first place.

emmysenior:
I've been dreaming of tall storey buildings in a neighbourhood with a serene environment, with cheap subsidized rents to help the low income earners and starters...Iyanapaja (Lagos) part of Ikeja (Lagos) etc as case studies.

You cannot have tall story buildings in those 2 areas. Reason? Proximity to the airport.

redsun:

But do you know that with more away based owning more houses in nigeria with little or no efforts,it will encourage more influx of away based in nigeria,which will in turn come with its blessings of constructive experiences,resources and know-how that will definitely benefit the country in short and long run.

It is a visionary prospect,but with the pack of wolves like elite at the moment in nigeria,it seems like a pipe dream.

All it takes is dedicated execution to make it work,it is simple and straight forward.

na so so away based and home based jaburata for ur comment. abeg, dis thread is not about football qualification o

Its never gonna work.... I know a lot of NiB are scared of Nigerian Banks because they can easily stop doing business, and there's nothing the FG will do about it. And I'm also sure that the interest rate will be ridiculous.

This scheme will die easily due to lack of trust and greed.

In fact I trust Nairaland building contractors more than any Nigerian Mortgage Bank.

LOL I dont want to read the story, but with the topic alone you will know that our government is confused... Very very! infact the direction on there compass has worn out.... Homes for Nigerians abroad... You have @least a Nigerian in every part of the world... Well they should give me the contract.. I am sure i will negotiate in British Pounds...... Nija.... Abroad hold on 2-bed housing is coming your way soon....

Okiki_Oluwa: There are more people in Nigeria who have no house than those in the diaspora. Theirs should be our 1st priority.
__________________
Last Bullet: I think this is another case of misplaced priority by our FG.

Whilst Nigeria is in a terrible state of infrastrutural decadence and high unemployment, I think this is a way of attracting Foreign Direct Investment into the economy. There are schemes already in place to help those in Nigeria but the problem is the high interest rates being charged by greedy banks which makes it almost impossible for the common man to obtain such loan. A similar scheme should be devised for the home-based Nigerians at a very low interest rates.

Cheatmessiah: ETISALAT N10,000 WORTH OF AIRTIME UP FOR SALE I have etisalat airtime and i want 2 sale it..i got all the airtime from survey site..I will also give u d website..If you are interested call me 08175155093

419

Hmmm.....Charity begins at home...or is it Charity begins abroad? I'm confused.

What plan do u have to alleviate poverty and provide housing for low income earners? Nothing I guess! V sad

Hogwash!!!

charity should begin at home....

lekkie073:
na so so away based and home based jaburata for ur comment. abeg, dis thread is not about football qualification o

What is this knucklehead talking about?Is football the only thing that comes to you fickle mind when you hear away or home based?

You must think I am part of that your new wave slave mentality of following chelsea,manu,arsenal pure racist barcelona.Another form of religion that enslaves ignorant africans minds of following and whatever is oyinbo.

So them go build 7 million + homes abi?
Am surprised no single person here doubt this proposal! Naija govt go tell u say they wan do something positive, and dem go ACTUALLY do it... hmn, i dey laugh in Obasanjo voice!
The spokesperson needed to say something to impress d audience, dats why him just throw dat jaggon for any mumu wey like to buy d idea!

** continues changing (oyinbo) diaper **

This is a welcome development for me personally as I've been trying to complete building my hotel. I will be more than happy to get a loan to complete it sooner than later. When completed, it will provide jobs for many Nigerians. I already have a house and all I need is to complete my hotel, which is already half-way through to completion. Please let me know if such loans could be given for a hotel project. Once I complete my hotel it's goodbye to UK because I know that I will be earning enough to keep me going and besides I know that am the boss.

bigdoo: This is a welcome development for me personally as I've been trying to complete building my hotel. I will be more than happy to get a loan to complete it sooner than later. It will provide jobs for many Nigerians. I already have a house and all I need is to complete my hotel, which is already half-way through. Please let me know if such loans could be given for a hotel project. Once I complete my hotel it's goodbye to UK because I know that I will be earning enough to keep me going and besides I know that am the boss.

To get a loan to complete your hotel, you can contact The Federal Mortgage Bank of Nigeria (FMBN) on their website

They've not solved the one inside Nigeria, they want to solve the one outside. Is this not stupidity?

parki: They've not solved the one inside Nigeria, they want to solve the one outside. Is this not stupidity?

It is the devil in the details that commentators like yourself fail to connect with.

FMBN Targets $2.5bn from Diaspora Products

The Managing Director, Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Ya’u Kumo, has said his institution intends to realise about $2.5 billion inflow from Nigerians living in the diaspora that are keen on investing in the country’s sector.
Kumo disclosed that the bank was working on modalities to launch a diaspora product to assist Nigerians who live abroad but want to own houses in the country.

According to a statement, the FMBN boss disclosed this at the 4th Nigeria Development Finance Forum held recently in Washington DC. He said the Diaspora mortgage products became necessary given the large number of Nigerians outside the country desirous of owing their own houses in the country as well as the need to reduce the housing deficit in Nigeria.

He said: “We realised that about 17million Nigerians are living outside the country and most of them have plans to have houses and they have not been able to do so. We understand that over the years, people who have been remitting money for the building or the buying of a house have not been getting good results. Stories have followed this money."

According to him: “What we are trying to do is that by the time we develop the Diaspora mortgage model, it will be a model whereby Nigerians living abroad who want to buy houses can resort to FMBN and at the end of the day if they do not take the mortgage, they can get refund of their money with interest."

Kumo said the reason why the bank chose the US was because out of the 17million Nigerians all over the world, about 58 per cent of them are resident in America, adding: “We are going to do our case study here and in the UK. If it works well, we will try to replicate in Asia and other parts of the world”.

He said the move would also lead to the inflow of funds into the country.
“The inflow of Diaspora money to Nigeria is about $10 billion. If the housing sector takes about 25 per cent of that inflow, we are expecting that about $2.5billion dollar is coming to us in the form of inflow from Diaspora people that would need houses and investments in the housing sector," he noted.

“That would translate to about N4billion and with that we can fund mortgages and build about 30, 000 units and that would be an opportunity for those who would want to have houses in Nigeria. That is within the envelope that we are allowed to operate which is N15million or $90, 000," he added.

Source: http://www.thisdayonline.com/

eGuerrilla:

It is the devil in the details that commentators like yourself fail to connect with.



Source: http://www.thisdayonline.com/

Classic Nigerian jumping-to-conclusions-without-thinking syndrome

90% of the commentators here did not read the article, they just read the misleading headline and posted nonsense as usual.


A welcome development and fantastic product on paper by the bank.

Garri the 1st: Jonathan and his gang of M0R0NS doing what they do best. Cassava-bread-brained bunch of fools...

can someone help me imagine the cassava-bread-brain?