The Federal Government has announced the allocation of 8,925 houses to deserving applicants nationwide under the National Housing Programme (NHP).
This was as the government noted that there were no completed houses in Abia, Lagos, Bayelsa, Rivers states and the FCT.
This is contained in a statement issued by the Permanent Secretary of the Ministry of Housing and Urban Development, Dr Marcus Ogunbiyi, in Abuja.
According to the News Agency of Nigeria on Tuesday, the NHF is a Federal Government scheme, which entitles all Nigerians above the age of 21 years in paid employment to a low-interest, government-funded loan.
Members of the scheme contribute 2.5 per cent of their monthly salary to the fund through the Federal Mortgage Bank of Nigeria.
The maximum amount obtainable under the NHF used to be N5 million but has since been increased to N15 million.
The borrowed capital is repayable over a maximum of 30 years at the rate of six per cent interest.
