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.
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