PHOTO: OPIC boss, Mr. Babajide Odusolu (left), NMRC managing director, Mr. Charles Inyangate and Managing Director, Imperial Home Mortgage Bank Ltd. Mr Ben Akaneme at OPIC, MTR Gardens Isheri on Inspection of projects, recently
The Ogun State Property and Investment Corporation,(OPIC), has held discussions with stakeholders in Nigeria housing sector as par of efforts to roll out a mortgage scheme that will enable aspiring home owners to purchase houses with ease.
The Managing Director, OPIC, Mr. Babajide Odusolu declared the intention of his Corporation to incorporate three principal partnering mortgage banks, Lafarge Holcim and private developers to flag off a mortgage scheme under the apex mortgage company, the Nigeria Mortgage Refinance Company (NMRC) and Federal Ministry of Finance.
As the key driver of mortgage policy designs in Nigeria .This company had been saddled with the responsibility of financing middle and affordable housing through technologically based methods. This is to relieve the populace of the hardship of owning standard houses at affordable prices.
Odusolu revealed this in a media chats while conveying stakeholders on inspection tour in and around OPIC estates along Lagos-Ibadan highway corridor recently. The inspection tour actually opened Nigeria Mortgage Refinance Company ( NMRC) , the three partnering mortgage banks, and private developers to emerging opportunities in Ogun State real estate sector.
According to him, NMRC “ is meant to assist developers to build more houses through a robust mortgage policy design to finance and monitor technologically based method of building houses for mortgages in States of the Federation that are found suitable to anchor the project.
Mr. Charles Inyangate, Managing Director, Nigeria Mortgage Refinance Company ( NMRC), commented on the scheme saying ” what we need in Nigeria is housing stock, and as a financing body, we know provision of housing must increase and this must be done in partnership with States’ Government’’. This explains the commitment of NMRC for middle and affordable housing.
Odusolu added that opportunities now abound for average income earners to own houses through a special mortgage scheme designed to fulfill a key cardinal objective of the present administration of Senator Ibikunle Amosun( CON, FCA).
He disclosed that any person with a paid employment or ‘regular but unpredictable income’ could key into the plan which allows him to pay in installments over a long period of 20 years.
He added that even though the scheme , when fully flagged off will be for any of the Ogun State housing projects, the first phase of the mortgage scheme will target 400 housing units in the New Makun City within 18months of its flag off. This no doubt will ameliorate the hardship of house ownership being faced by middle income earners. On this, Odusolu said this Mortgage Scheme will further expand the economic base of the State; creating employment opportunities while aiding the growth of infrastructure across the four Senatorial Districts.
Mr. Kola Ogunsulere Managing Director, Family Homes Funds Limited, a Federal Government initiative, in his reactions on the preparedness of Ogun State to drive affordable housing said Ogun State was found worthy, not only to partner with NMRC, but to model other upcoming States while exposing the generality of its citizenry to maximal benefits of NMRC’s mission of providing housing for all.
Commenting on the tour of OPIC housing projects, the Managing Director, Imperial Homes Mortgage Bank Limited, Mr. Ben Akaneme said Ogun State is no doubt a model State for the NMRC scheme to reduce housing deficit in Nigeria. The road, industrial layout and internationally acceptable master plan in and around OPIC estates are “ part of the development and repositioning we long to have in Lagos – Ogun States borderlines”, he reiterated.
• Emma Okezie