₦airaland Forum

The Federal Mortgage Bank of Nigeria (FMBN) on Tuesday, June 9, undertook an assessment of the progress of work at the Ibeju-Lekki Renewed Hope City Project in Lagos, where the Bank is financing the development of 1,500 housing units.

source

.. built without the consent of the taxpayers whose monies are stolen every milliseconds.

This government that hasn't done a thing. is Ibeju Lekki no longer part of Benin Republic

Is it going to be for rentage r selling and to whose benefits considering the name.

Hmmmm! Is it like a mortgage arrangement with the would be occupants?

All these projects are scams. Nigerians are wiser now

Vixlot:
The Federal Mortgage Bank of Nigeria (FMBN) on Tuesday, June 9, undertook an assessment of the progress of work at the Ibeju-Lekki Renewed Hope City Project in Lagos, where the Bank is financing the development of 1,500 housing units.

source

Good development for the people in power.
Not the masses

chatinent:
.. built without the consent of the taxpayers whose monies are stolen every milliseconds.

Well, it is a project being built by the FMBN, which is...a mortgage bank.

It's not a federal government project in the sense that government builds houses and dashes people .

Mortgages are a different type of thing, and it doesn't involve...er...looting.

People who can't afford a bag of cement will come and complain on why the houses are not free for them. Even mansions in heaven no be for everybody.

Sirseedorf:
Is it going to be for rentage r selling and to whose benefits considering the name.

It's for people who will take a mortgage loan from FMBN to buy the houses there and then pay back the loan

Some owners may choose to rent it out, and then earn money to pay back the loan that way.

Is it free for all APC card carrying members?

Harryju:
Hmmmm! Is it like a mortgage arrangement with the would be occupants?

People who took mortgage loans from FMBN to buy the houses. Bank builds the house and then earns back money from the repayments of the mortgage loans.

When can we start moving to the house to live rent free? Can't wait.

tobenuel:
Is it free for all APC card carrying members?

LOL...them APC members would have to get a mortgage loan from FMBN to own the house, and pay it back

geoworldedu:
When can we start moving to the house to live rent free? Can't wait.

As someone who wants Tinubu out, I regret to inform you that any politican who campaigns on 'free house' is selling you a buncha lies.

nairalanda1:
As someone who wants Tinubu out, I regret to inform you that any politican who campaigns on 'free house' is selling you a buncha lies.

That's why I'm asking them when we are moving in to live rent free and it must be before election o.

atobs4real:
Good development for the people in power.
Not the masses

Well the masses , some of them will take a mortgage loan to buy the house and then pay it back

Also, the problem with free houses for all is...it costs a lot of money. As much as I hate to say so. If any government were to try to give everyone free houses, the budget would have to increase by 100 times for them to pull it off.

Plus the quality of the houses would suffer. It costs a ton of money to do that kind thing, and to save costs, low quality material would be used. That's the problem a lot of former communist bloc countries in Europe ran into.

Plus, assuming that tinupoo allocated the houses to 'poor people' there is the matter of maintenance costs. Unless you want the government to be paying for maintenance, which would also cost a ton of money...and which would worsen the debt.

geoworldedu:
That's why I'm asking them when we are moving in to live rent free and it must be before election o.

Never ever believe promises from apc or any other party leader that sounds 'good'. Realism must be part of political thinking.

The banks may own the houses,but do they own the lands the houses are build on, who sold or gave them the land because the lands belong to the masses not Teeenubu and his krooked famlies.

wiseone28:
Only the rich enjoy naijeriya

LOL...the houses won't be allocated to anyone. Only those who have taken a mortgage loan from FMBN would be moving in.

I want tinubu out, but if any incoming president starts building houses up and down for the poor, they will soon find out that it would cost more than the national budget to do that kind of thing.

Add the fact that our sewage and water supply systems in many cites need to be upgraded to cater for many houses springing up, plus our electricity sector. Most of you guys do not want to pay municipal taces and cost reflective tarrifs to improve both sectors respectively.(for instance on water supply, you need a working water supply system, or the boreholes would reduce ground water...and cause issues later later on).

Then what type of houses do you want to build and where do you want to build them? Wilt thou do mass slum clearance? Would you build new houses on the outskirts of cities far from people's daily hustle...which means that you also have to upgrade the transport system, meaning light rails and more busses...costs a lot of money too? and so forth.

Our 40 billion dollar budget , assuming that corruption ended yesterday, won't be able to manage it. A budget that, need I remind you, is heavily loan funded in part because we don't produce enough oil to fund things.

I am voting for Obi next year, so no go there.

LordLicifer:
The banks may own the houses,but do they own the lands the houses are build on, who sold or gave them the land because the lands belong to the masses not Teeenubu and his krooked famlies.

Better read the Land Use act of 1978.

Ur papa money

chatinent:
.. built without the consent of the taxpayers whose monies are stolen every milliseconds.

ur papa money or ur great grandpapa money

nairalanda1:
Better read the Land Use act of 1978.

Sorry mate! I don't have to read anything, Nothing works by the book or so called ACT in nigeria, Teeenubu and his krooked families owns Lagos

Another scam like his student loan and other various mumbo jumbo projects he embarks on just to use them to divert government funds

nairalanda1:
Well, it is a project being built by the FMBN, which is...a mortgage bank.

It's not a federal government project in the sense that government builds houses and dashes people .

Mortgages are a different type of thing, and it doesn't involve...er...looting.

So why term it " renewed hope project "?

Image123:
People who can't afford a bag of cement will come and complain on why the houses are not free for them. Even mansions in heaven no be for everybody.

stop insulting who can't afford a bag of cement now. All fingers are not equal. Who no fit afford now, can afford tomorrow. No one knows tomorrow

A good development but is it affordable

chatinent:
.. built without the consent of the taxpayers whose monies are stolen every milliseconds.

These projects across the country has been in the public since 2024...... I even applied for a space in the Karsana Renewhope housing project....

Even kids without mobile phones knew about it.... But since you're paid to be on nairaland to demote the government, you want to sound pity enough online to get your monthly pay for criticizing

femi4:
A good development but is it affordable

Very much.... I am a beneficiary as well...

What's the Mean Sea Level of the area. Make flooding no kpai person 🤷🏿.