Nigerians Can Now Own Houses With N30,000 — Osinbajo - Properties (9)

Nigerians Can Now Own Houses With N30,000 — Osinbajo - Properties (9) - Nairaland

Nairaland Forum › Nairaland General › Properties › Nigerians Can Now Own Houses With N30,000 — Osinbajo (80921 Views)

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by BetterChurch: 6:25am On May 30, 2017

jerryunit48:
Believe this at your own peril

Why can't it be possible. I mean OPTIMISM from the masses could just meet SELFLESSNESS for our leaders and Boom 'up we go' as a nation. Please we need to move ahead as a nation

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by juman(m): 6:27am On May 30, 2017

APC noise making thing.

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by justice2100: 6:29am On May 30, 2017

confiritch:
The Federal Government through Housing Loans Board under the supervision of the Head of Service has commenced Federal Integrated Staff Housing (FISH) Mortgage Loan. The first tranche have received allocation of the houses, while some of them were already occupying the houses, some gave them out for rent. It is operational in Abuja and Lagos for now. The payment plan is to pay 10% as down-payment and the remaining amount for some years depending on the years left for the beneficiaries to retire from service. For instance, if a 2-bedroom flat is about #4 million, the initial deposit of 10% is #400,000. The balance of #3.6 million will be paid off in 10 years, if #30,000 is being paid as monthly installment. The good thing about the FISH programme is that beneficiaries who have accommodations may wish to use it to generate rental income for ten years. In Abuja where 2-bedroom is rented per annum between #500,000 and #900,000 depending on the location, in 5 years one can pay-off the mortgage amount. Like what the Acting President was quoted to have said, there is need to get the details of the mortgage plan before any objective analysis.

Thank you very very much. But to begin with; how can a grown up, educated sensible human being think that in 2017, in Nigeria o any place in the world he can buy a HOUSE with Naira30000 as full and final settlement. Haba!

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by BetterChurch: 6:30am On May 30, 2017

ednut1:
pastor wey dey lie, is dat a pastor

Why should a pastor lie?

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Paparazzi2244: 6:32am On May 30, 2017

When it's too good to be true, it's called scam..

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by HoleDriller(m): 6:33am On May 30, 2017

virus05:
This guy is Damn good

hmm

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Skoopy(m): 6:35am On May 30, 2017

He probably would have been quoted out of context, I guess what he must have said is anyone who can raise 30k per month for a specific time interval.

Fear the Media more than the Prof.

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by MrHighSea: 6:35am On May 30, 2017

Nobody wanna fall a victim. Nobody believes in the government.

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Kiakia(m): 6:36am On May 30, 2017

Story! Easier said than done.

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by nattyGENT: 6:36am On May 30, 2017

Da APC ye mkpoon inua. I have 30k multiplied by 100times, who collects the money?

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by chimeziedickson: 6:37am On May 30, 2017

this present administration is shameless they lie in almost everything.They hoodwink the guillble ones into believing this....Story for the gods]

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Enyimbamercedes: 6:39am On May 30, 2017

People need to comprehend the idea of mortgages. When they say you can own a home for as little as 30,000, this doesn't mean you own the home outright. It is an initial down-payment with the balance repayment spread over a number of years; in Nigeria this would typically be between 5 -10 years. Also note that 20% of the cost comes from the subscriber so the statement of little as 30,000 isn't completely accurate. It will actually be 30,000 plus an additional 20% of the value of the house

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by ajiwo1: 6:40am On May 30, 2017

Everything is possible before God

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by rainylad(f): 6:42am On May 30, 2017

..Mortgage or no mortgage....Any zombie who believes this is a FOOL raise to infinity..

...What Co-ordinator osibanjo said will not work!!!....It has beem done coutless times by different Government in the past and it never worked...Civil servant were scammed big time....Last last politicians(osibanjo included) will corner the housing scheme,one way or another.

..I repeat any zombie who believes this is a big fat Foolll!!...

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by sham8co(m): 6:43am On May 30, 2017

Abeg nak una no pay me my Npower moni for a month so that I can get one of the Houses.

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Aburi001: 6:47am On May 30, 2017

jerryunit48:
Believe this at your own peril

LOL

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by lankieman: 6:54am On May 30, 2017

In Fela's voice Opuro fe soro = professor.

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by ajl: 6:55am On May 30, 2017

Let's think clearly for once.

-Who own the land by law in Nigeria? Government
-What factor drive up the value of land in Nigeria, most especially places like Lagos? Land speculator
-Is it possible for government to subside the cost of housing/rental at 50-90% of cost, especially to low income earners? Yes. Government can afford to (while a married resident student outside Nigeria, I paid amount as low as $50 for monthly rent (normally $800) based on my income for that month...when my income went up, I paid more.
-Is value of land the same across Nigeria? No, meaning the details of this plan will vary based on state/location.
-If true, will this program be open to everyone? No, probably low income earners with further benefit to high-middle income contractors and low income construction workers.

Think clearly. This is actually possible if the government mean it. As with many things in Nigeria, possibilities are endless but it is Nigerians like you and I who either lack the will to.support or make these possibilities happen.

2 Likes

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Meloshi(m): 6:57am On May 30, 2017

360metrosports:
https://www.dailytrust.com.ng/news/general/nigerians-can-now-own-houses-with-n30-000-osinbajo/199711.html

http://www.webvibez..com

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Ptown(m): 6:59am On May 30, 2017

If you believe this,then you can also believe that Cows lay egg.

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by kaystick86(m): 7:01am On May 30, 2017

The process has started in 11 States, pls he should mention just one state for us to confirm

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by awa(m): 7:04am On May 30, 2017

APC is messed up with this regime... The only Sane man in their mix seemed to have gone insane like Lair Mohammed

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by EHIRIMCHA(m): 7:05am On May 30, 2017

Mopelawlar:
Seriously I can't wait ooo,30k for a house abii wetin I hear so....... mehn dis lies wnt injured sum1, Abeg mak I run for my life oooo by d way we're is my life jacket?

.in davido's voice,he meant "30 billion for ur account"

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by ThatmanRev: 7:06am On May 30, 2017

One of those ApC promises resurfacing again..
May be they thought we will soon forget this one also
Osinbajo trying hard to fool Nigerians

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by adegeye38(m): 7:09am On May 30, 2017

pple go just read headline, jump here nd start spewing trash to comfirm their stupidity and illiteracy

have heard about this housing plan, a lot of times, and i think is true ( construction has started in some states),, the 30 000, is initial payment, its like mortgage

msure 95% of pple here didnt even read d article

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Princedapace(m): 7:10am On May 30, 2017

AnthonioAlsaid:
If you guys don't have information on something keep quiet

In my state the project is going on

About 1000 houses are been built in a certain location

Just that it's for civil servants alone

Get your facts rights before talking nonsense

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

Don't worry bro... No be naija again.. I will remind u before the end of 2019 about this project... It seems u don't know Nigerian politicians.. Sorry, okay.

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Aburi001: 7:11am On May 30, 2017

jerryunit48:
Believe this at your own peril

Osibanjo said "you're expected to contribute #30k monthly to own a house"

You guys should STOP misleading people here online

1 Like

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Engrchidosky2: 7:19am On May 30, 2017

When drugs get expired the next thing nafdac will do is to destroy that drug, why is it that the zoological republic of nigeria has expired since 2014 and the British government find it difficult to break this evil entity called nigeria.Quote me wrong and the Almighty thunder will strike you

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by Dalek(m): 7:21am On May 30, 2017

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?

nope you're getting it wrong, the developer will borrow 80% from the stated banks while the developer will bring the remaining 20% of the project demsef

Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by omogidi234(m): 7:27am On May 30, 2017

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?

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.

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by gofnor(m): 7:29am On May 30, 2017

What is talking about ?

360metrosports:
https://www.dailytrust.com.ng/news/general/nigerians-can-now-own-houses-with-n30-000-osinbajo/199711.html

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Re: Nigerians Can Now Own Houses With N30,000 — Osinbajo by bitcoinvin(m): 7:32am On May 30, 2017

360metrosports:
https://www.dailytrust.com.ng/news/general/nigerians-can-now-own-houses-with-n30-000-osinbajo/199711.html

the only thing i can say is that no Nigerian Politician Has a Conscience.
Revolution is the only way out in Nigeria.

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