President Goodluck Jonathan has challenged Mortgage institutions to make their premium terms realistic and affordable for Nigerians taking into consideration the income and earnings of beneficiaries.
On its part government he says will recapitalize the Federal Mortgage Bank and strengthen the Ministry of Housing.
The President spoke on Tuesday in Abuja at the Foundation laying ceremony of the Paramilitary Villages Development Project.
This large expanse of land has been designated by the Ministry of the Interior as the site to host the Paramilitary Villages Development Project comprising sets of bungalows and duplexes for staff of Paramilitary organizations in the country.
It attracts commendation from President Jonathan who wants other Ministries to emulate the good gesture in order to address the Housing needs of their workers as well as boost their morale, productivity, security and welfare.
But President Jonathan has a challenge for Mortgage institutions in the country noting that Nigerians, besides servicing loans, also have to take care of other needs of the family and should not waste their resources on housing alone.
At least 8000 jobs are expected to be created for Nigerians from the 2000 houses which will spring up from this scheme across the country in the next 2 years, while beneficiaries have pledged that this gesture will indeed boost their approach to work.
This is a commendable effort from the Ministry which supervises Paramilitary organizations which many agree are just as hard working as their Military counterparts.
The danger is that the implementation will get wound up in bureaucratic red tape which normally slows things down.