TheFreeOne:
Some lies are too glaring to be believed.

Maybe he's been quoted out of context cos 30k for a house? even if dangote donates free cement, free roofing sheets from Nigerite and frogeye relinquish some of those fraudulently acquired lands I cant see it happening except the government builds and sell for 30k which is still totally impossible.

Jackossky:



If you earn 30k,that means you can afford 30k

SmartMugu:

He's just ill-informed. If any program of that sort exists, it's only for the kins of his fellow politicians, not for the common man with 30k.

AnthonioAlsaid:

If you guys don't have information on something keep
In my state the project is going on
About 1000 houses are been built in a certain
Just that it's for civil servants
your facts rights before talking
Most of you here are just plain stupid
The person on ftc says something everybody follows in that thinking
I'd bet if they ask you guys the meaning of mortgage you won't be able to provide an answer
Dullardinhos

chisco82:

Maybe you analyse that for us to understand, because from i read we have to pay 20% of the total sum while the housing scheme team pays the remaing 80%.
I got confuse there he mention that if you have #30,000 then you can own a house. So my question to hou is if 30k is the 20%, then how much is the remaining 80% and Total amount is how much, can that amount build a house?

obailala:
On the contrary, it is millions of Nigerians that are ill-informed and who have no clue how mortgage schemes work. Unfortunately the reporter of this news didnt put the lack of knowlegde of Nigerians on mortgage schemes into consideration when reporting the story.

ednut1:
pastor wey dey lie, is dat a pastor

SmartMugu:

You may be right. The headline made it seem like every Nigerian can own a home with just 30k. If 30k is just the down payment, the payment terms should have been spelt out. Some folks can effort to buy 500 or more houses if they come as cheap as the article made it seem.

omogidi234:


Many thanks. So far till the point I am quoting you, apart from yours, Ayindejimmy and Maximus85, the other comments are not encouraging. I don't mean to be disrespectful​.

I do agree that these guys have made so many promises and they didn't fulfill; why? I don't know, it is left for them to tell us why, I am not their mouthpiece. Do we have reasons to doubt them? YES. However, I feel we are not criticising constructively.

We have not seen the roadmap, we have not seen the scheme schedule, the man has only made a pre-emptive speech preparatory to the launch of the scheme.

Now it is likely that they want to improve on the NHS or run a parallel but cheaper and easy- to- access scheme.

I and some folks have discussed the NHS here on Nairaland a couple of times, however, let me just drop some hints.

The NHS is domiciled with the FMBN.
It is a Federal Government Housing Scheme Mortgage.

The maximum amount you can draw is N15M and you must pay 30% equity, which is N4.5m.
If you want to access N10M, you will pay 20% equity. Likewise, N5M with 10% equity payment.

Now the scheme came into​ being when those figures were big money in Nigeria ( the figures are still big though, but can not possibly meet its desired purpose now).

The way it operates is that you open a NHF account with some financial institutions registered with FMBN, (Aso Savings,, Resort Savings are good example), you save till your equity is met and the FIs will apply on your behalf and you can use the funds to buy let say a 3 bedroom bungalow at Adron Homes Simawa or Hastom's Green Farm Estate Ogbomosho for 15m.

You are expected to pay back the 70% disbursed to you on a monthly basis for 30 years ( if you are age 60, it is not likely they will give you cause they want you to be able to pay back when you are working or doing business, not when you have retired) on a 6% interest rate.

Even though people are accessing this scheme, it is pretty hard and takes a lot of time.

So if this new Scheme allows you to pay N30,000 (both principal & interest) monthly for 30 years, then it is a Live On Arrival.

Paentera:


Please beware of Resort Savings as they are currently undergoing liquidity problems and haven't paid their own contribution for their customers who sourced mortgages through them and deposited funds with them.

360metrosports:


https://www.dailytrust.com.ng/news/general/nigerians-can-now-own-houses-with-n30-000-osinbajo/199711.html

jerryunit48:
Believe this at your own peril

piagetskinner:
he didn't say anyone who earns 30k....bit anyone who can afford 30k....

read them no go gree

SmartyPants:


Problem is most of you lack basic comprehension really.

"The same fund will enable us to provide inexpensive mortgages for hundreds of thousands across the country who want to own homes."

Or you don't know how mortgages work?

360metrosports:


https://www.dailytrust.com.ng/news/general/nigerians-can-now-own-houses-with-n30-000-osinbajo/199711.html