₦airaland Forum

The question we need to ask ourselves is can ordinary citizens get the loan?

Putindbutt:
They will call it propaganda but guess what, they will go and apply for it but come online to talk trash. The sensible ones among them don apply for NELFUND, Credicorp, etc 😂

Is it your father's money? How better qualified are you than anyone else applying for it whether in support of an impostor in Aso Rock or not?

Fake. Where is minimum wage, where full payment of wage award?

TimeManager:
Renewed Hope till 2031. God bless President Tinubu, God bless Nigeria.


-Kiss the truth!

100 years for you. You know the meaning?

Another government subsidy program, in addition to the one for school loans.

The results are predictable.

Good Luck to Nigeria.

Baxilexi:
Thanks for pointing that out, I guess it begs the question what demographics of salary earners is the FG catering to?

The monthly payment for a 30 million naira mortgage over 20 years at a 9.5% interest rate would be approximately 279,639.36 Naira.

With a 5 million naira down payment on a 30 million naira mortgage, the new principal is 25 million naira. The recalculated monthly payment would be approximately 233,032.80 Naira.

If you earn around #750k to #1 million monthly, you will be able to get #30 million but what house can you build with #30 million

Softmirror:
My dad was able to building so many houses since in the 70s with the opportunity he got from the Federal Mortgage Bank.

My dad also completed his 4th 5 star hotel through this Tinubu's mortgage loan, thank you Emilokan oh








Since all of us wan craze make we craze together na

Putindbutt:
They will call it propaganda but guess what, they will go and apply for it but come online to talk trash. The sensible ones among them don't apply for NELFUND, Credicorp, etc 😂

How about you apply and prove us wrong .. I'd rather be a wailer than be a zombie

Student loan till date it's almost like the beneficiaries are ghosts or something

TimeManager:
https://dailytrust.com/fg-weve-opened-single-digit-mortgage-loans-for-nigerians/

how do we apply? You should have told us how to apply for it nah

ModCaller:
I think your math is a bit off. The interest is actually per annum. 10% every year for 20 years is 200%.

A person earning 200k per month can never be given a loan of 30m. That will be as good as gifting him the money

A lot of people don't understand the kind of debt mortgage is considering the situation of those who need it the most

Kukutente23:
Audio
Let's see list of beneficiaries
The 9.75% rate has been in existence since 2010. It ought to be reduced to less than 5% if they are any serious
The problem with the FG mortgage is the overpriced nature where you will be required to take a sum that can build a storey building for a 3 bedroom bungalow

Is 9.75% rate bad??

Learn how to appreciate good things

No b every time U go dey wail 😂

Kukutente23:
How many students have benefitted from student loans compared to the total number of applicants?
I hope you know the previously brandished figure was debunked when ICPC looked into it and the total figure presently is less than 100k

You don't know what you are saying 🤣

In fact U are saying trash

Visits any government universities and hear testimonies.

Students loan is blessing to all Nigerian students

TimeManager:
Renewed Hope till 2031. God bless President Tinubu, God bless Nigeria.


-Kiss the truth!

Are you kissing the truth?

Are you aware that deposits are one of the biggest assets for a bank?

Are you aware that it is these deposits that are used as loans?

Are you aware that if loans are not repaid is often leads to banks collapsing?

Where is the money for this housing loan coming from?

What are the mechanisms in place to make sure that those who collect these loans pay back as and when due?

if the loans are not recovered, what happens to the bank?

Putindbutt
Bluntemperor
Exousiang01
phemray
AngelSlay
Factcheck0001
Kemetian
softmirror
axglide

jamafa:
You don't know what you are saying 🤣

In fact U are saying trash

Visits any government universities and hear testimonies.

Students loan is blessing to all Nigerian students

Since you are not saying trash but u know what you are saying and have visited government universities and heard testimonies, then answer his question...

How many students have benefitted from student loans compared to the total number of applicants?

muyico:
visit any fmbc office in your state, but you must run saving with them for 6months, after that, you tender you payslip 3months, bank statement 6months, Nin,BVN ,then letters of appointment,if businessman, CAC certificate

Wow! Thanks for the information. What is fmbc?

TimeManager:
https://dailytrust.com/fg-weve-opened-single-digit-mortgage-loans-for-nigerians/

kindly help with link or how to get lian please 08029063882 also thats my whatsapp line

Exousiang01:
You said the same thing about NELFUND
Today people are graduating courtesy of NELFUND
How you wake up every day reprogramming your mind to hate anything good is amazing.
Looks slot like witchcraft

Don't mind some of these hatred and bitterness people on Social Media.
-Thousands,if not Millions of Nigerians HAVE -BENEFITED FROM THE STUDENTS LOANS SCHEME OF THE FEDERAL GOVT-AND AS AT TODAY,IS A GAME CHANGER TO STUDENTS IN NIGERIA.
I THINK THOSE COMMENTING ARE JUST NOT ECONOMIC WITH THE TRUTH - ON The STUDENTS LOANS, AND THEY CAN GO TO MANY OF THESE INSTITUTIONS TO VERIFY, INSTEAD OF BEING Parochial!
Radarada People Everywhere!

Imagine being a family man—earning 200k a month, trying to stretch that across life’s expenses, schooling, food, medical bills, and—against all odds—trying to qualify for a mortgage to buy a modest home in a “decent environment.” It’s noble, but these are the realities:

You're asked to save millions upfront while still feeding a family.

You’re then expected to shell out hundreds of thousands more every month, potentially more than half your income.

Life happens—it only takes one medical emergency, one spike in food prices, or one breakdown at home to derail everything.

Mortgages can be helpful—but only if:

Interest rates are genuinely affordable,

Terms are flexible,

Families are formally employed and can show stable income streams,

Housing supply grows dramatically,

Social support (like rent-to-own or shared equity models) is robust.

Yes, mortgage-backed homes can be life-changing—but without real structural improvements (land rights, wage growth, access to credit, and massive scale building), it’s still out of reach for most.

That’s why many propose rent-to-own models, incremental housing, or community co-ops—solutions that meet families where they are financially, and guide them gradually into ownership.

If Nigeria truly wants housing to be accessible, it must deliver mass scale, and importantly, match finance solutions to real-world incomes—not hypothetical ones.

If I were speaking to a family earning ₦200k a month, I’d say: “I see your ambition. I see your drive for stability and dignity for your family. The current system makes it harder than it should be—but you’re not alone, and thankfully, thinkers and activists are forging ways forward that center families like yours. You shouldn’t have to choose between paying rent and feeding your children. And hopefully—sooner rather than later—our policies will reflect that urgency.”

TL;DR: The numbers you ran are accurate and deeply sobering. And yes, the system, as it stands today, stacks the odds against hardworking earners. But there are glimmers of progress. In the meantime, real solutions require empathy—built into both design and financing.

Baxilexi:
This is so ignominious… why is the FG always putting the cart before the horse.

How many low income housing projects are currently ongoing in Nigeria?
Why not build the houses and then offer a convenient mortgage.
Let’s do the math, a 200k salary earner/ family man, wants a modest apartment in a decent environment in Abuja.
The apartment costs 30m spread over 20 years with an interest of about 3m bringing the loan to 33m

He’s down payment might be 20% of the cost of the house = 6m
He’s monthly payback is 68,750, (bal; 131,250) how is he to survive?

Bluntemperor:
Don't mind some of these hatred and bitterness people on Social Media.
-Thousands,if not Millions of Nigerians HAVE -BENEFITED FROM THE STUDENTS LOANS SCHEME OF THE FEDERAL GOVT-AND AS AT TODAY,IS A GAME CHANGER TO STUDENTS IN NIGERIA.
I THINK THOSE COMMENTING ARE JUST NOT ECONOMIC WITH THE TRUTH - ON The STUDENTS LOANS, AND THEY CAN GO TO MANY OF THESE INSTITUTIONS TO VERIFY, INSTEAD OF BEING Parochial!
Radarada People Everywhere!

People criticizing the system are not necessarily “parochial” or “haters”—they’re often just Nigerians asking for the same access, fairness, and dignity. Instead of dismissing their concerns, let’s use their feedback to improve the system and make it what it should be—a true game-changer for every Nigerian student, not just a lucky few.

Because when one Nigerian rises through education, we all win.

Let’s be honest: the current interest rates offered by the Federal Mortgage Bank are simply not realistic for the average Nigerian. When inflation is eating deep into our pockets and the minimum wage is just ₦70,000, how can anyone expect people to commit to long-term loans with double-digit interest rates?

Why can’t we peg it at something more human and affordable—like 6%? That’s the kind of rate that gives people hope, not fear. Nigerians aren’t lazy or unwilling to pay back loans—we just need a fair playing field that reflects our reality, not some textbook ideal.

And let’s talk figures: how much does the Federal Mortgage Bank even offer? What’s the minimum loan one can get? Can that even build a basic, decent two-bedroom bungalow in today’s economy? It’s time to stop throwing around figures without matching them to actual market prices.

Even worse, the current system seems to cater mostly to salary earners—but what about the vast number of Nigerians who hustle every day without a structured paycheck? Should they be cut out of home ownership forever? Isn’t that already an unfair system?

And the collateral? Please. Why must Nigerians bring the deeds of their parents’ houses or entire family properties to access a loan? This outdated system full of 1960s-style bureaucracy is exactly why millions avoid banks altogether. You cannot ask people to put their future on the line, only to give them loans with interest rates that crush them.

What’s even more heartbreaking is the issue of the National Housing Fund (NHF). Nigerians have been contributing for years. Deductions were made faithfully, yet most contributors have never seen a single block laid for them. No refund. No explanation. No transparency.

Is it fair that people retire without ever benefiting from this system? Where did all that money go? And if the money is gone, where is the public record of who collected what? Let’s see the list. Let Nigerians see who truly benefited—because this silence looks too much like cover-up.

Now, if the Federal Mortgage Bank is serious about its new reforms, it should start by earning back the trust of Nigerians. That means:

Lower interest rates.

Flexible, realistic loan options even for non-salary earners.

A clear refund or compensation plan for those whose NHF deductions went nowhere.

Transparency on past disbursements.


Housing is not a privilege. It’s a basic right. It’s time for our systems to reflect that.

TimeManager:
https://dailytrust.com/fg-weve-opened-single-digit-mortgage-loans-for-nigerians/

Pls where are the list of those that have benefitted from these? Also, where are the houses?

TimeManager:
https://dailytrust.com/fg-weve-opened-single-digit-mortgage-loans-for-nigerians/

We all know what that means

surgical:
All na empty promises, there has been tons of it, wage award of 35k for workers and 25k for pensioners to cushion hardship Tinubu caused before introduction of minimum wage has not been paid probably will never be paid
Arrears of minimum wage for both pensioners and workers are in limbo
Even for youth Corp members, the few months paid was because one youth Corp member call Tinubu a useless president
Tinubu administration is just about himself and his friends

1.Persistence and back to back Strikes in Nigeria schools and agencies is gone

2. Fuel Subsidy is gone

3.Dollar racketeering is gone

4.Persistence sleeping overnight at feeling stations is gone

5.Regular owing if workers salaries by more than 20 states for up to 15months is gone

6. Students have access to education loan for the first time

7. LG autonomy is here, d politics over it will soon be over

8.Tax reforms is here

9. Now FG is touching grassroots wards directly through recently launched FG programme.

10. Many more initiatives.

No president ever have all these bold life touching grassroots initiatives in Nigeria.

The irrelevant Nigerians see failures, we the sincere Nigeria see success and progress.

Talking of prices of items in the past as per today's prices, but all of the above mentioned were not available in the past.

Some Nigerians want to go to heaven but didn't want to die. Dey play.
Prosperity is here. Sai jagaban.

It's not about saying rubbish; if u really are a serious citizen, a good supporter of this government and a sensible human being, u should try and access those loans so u'll be able to better your life, so u'll not be coming online everyday posting except maybe u're a troll or are being paid handsomely for ur online activities

Factcheck0001:
Hope the steady wailers will come in n feed their eyes

Good step. There's hope for many homeownership desires to come to reality.

rinzaugustine:
Believe this and you will believe anything. Na wayo gooment be this o . Verify everything or you lose your deposit money

Loans that people are taking to buy food.

As salary no reach to feed parent and children again.

Don't mind those paid APC data boys that rushed to comment. At least, they are paid for their useless propaganda

phemray:
1.Persistence and back to back Strikes in Nigeria schools and agencies is gone

2. Fuel Subsidy is gone

3.Dollar racketeering is gone

4.Persistence sleeping overnight at feeling stations is gone

5.Regular owing if workers salaries by more than 20 states for up to 15months is gone

6. Students have access to education loan for the first time

7. LG autonomy is here, d politics over it will soon be over

8.Tax reforms is here

9. Now FG is touching grassroots wards directly through recently launched FG programme.

10. Many more initiatives.

No president ever have all these bold life touching grassroots initiatives in Nigeria.

The irrelevant Nigerians see failures, we the sincere Nigeria see success and progress.

Talking of prices of items in the past as per today's prices, but all of the above mentioned were not available in the past.

Some Nigerians want to go to heaven but didn't want to die. Dey play.
Prosperity is here. Sai jagaban.

All you wrote here is trash ,it is for Tinubu supporters, foolish and gullible people or people who knows nothing about Nigeria
Tinubu has damaged Nigeria beyond how he met it
On strike issues, Tinubu is intimidation unionist, harrasing them like the NLC etc not out of good policy but intimidation,it the silence of a grave yard
On students loan, he has reduced access to education by increasing schools across board astronomically taking the cost beyond many and given loans to insignificant numbers compared to the previous numbers who could pay from their pockets
On subsidy removal, it was a senseless action,he just increased prices to a determined price that guarantees how much revenue he wants,its not about subsidy removal ,it is corruption and wastages he should have tackled If he was actually bold or courageous but of course he was not he chose the easiest way out increase prices and dammed the people
On fuel ques it has happened a few times in this regime just like others nothing new
Giving handouts instead of providing enabling environment for businesses to thrive and improve the economy is wastage, cunning and an attempt to buy votes ,since it is distributed to loyal party members and others that are recruited to support their party, it is usually insignificant and cannot alleviate anything not at all poverty,it can not replace a sound economic policy that will turn around the economy unlike the bolekaja economic policies of the government that has tanked the economy
Above all Tinubu lack economic knowledge, lacks empathy and grossly incompetent such a leader can not move a nation forward
I am really surprised about him ,I never knew he is this empty ,he just lost all his goodwill,he has been turned naked from the propaganda cloth he has been clothed with over the years
He is just another gbajue, who took power without knowing what to do with
How can a sensible leader withdraw all available subsidies to his people in one fell swoop and top it with devaluation when he has nothing to export
Just to reduce demand for forex but at the same time reducing production and consumption at the same time
How will his tax reform benefits the country, the only that will benefits is increasing the tax net,but not increasing tax,you can tax your way out of a bad economy you will worsen it ,but of course they listen to voodoo, copy and paste economist and they are guarantee to fail all the time
Tell Tinubu if you know him ,to stop being wicked,he should pay people dues ,entitlements, areas are too much, he is depriving people of their legitimate earnings afterall he said he had increased revenue why is it difficult for him to pay people's legitimate earnings
On paying salaries promptly, Tinubu cannot match Buhari in that area ,buhari has more empathy than Tinubu, he knows people need their money to survive he pays promptly and most times before end of the month, Tinubu though pays but most times its month end or on the 32 33 or 34 of the Month