The Federal Government has approved a N10 billion housing loan scheme for federal civil servants across the country.
The scheme is designed to provide affordable mortgage financing to help public sector workers acquire homes and reduce the housing deficit among government employees.
Under the plan, eligible civil servants will be able to access loans at single-digit interest rates with flexible repayment terms. The Federal Mortgage Bank of Nigeria (FMBN) is expected to manage the disbursement in collaboration with relevant ministries and agencies.
Officials said the initiative aligns with the government’s efforts to improve workers’ welfare and boost homeownership under the Renewed Hope Agenda.
The implementation framework, including eligibility criteria and application procedures, will be released in the coming weeks
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