FHA inaugurates 100 housing units in Oyo

The Federal Housing Authority (FHA) has inaugurated 100 units of two-and three-bedroom houses at the FHA Estate in Ajoda, Ibadan, marking the first phase of a proposed 1,000-unit housing project in the area. Speaking at the commissioning, the Managing Director of FHA, Oyetunde Ojo, said the development was in line with the Renewed Hope mandate […]

The Federal Housing Authority (FHA) has inaugurated 100 units of two-and three-bedroom houses at the FHA Estate in Ajoda, Ibadan, marking the first phase of a proposed 1,000-unit housing project in the area.

Speaking at the commissioning, the Managing Director of FHA, Oyetunde Ojo, said the development was in line with the Renewed Hope mandate given to the agency by President Bola Tinubu when its current leadership was appointed in February 2024.

“He gave us a marching order to renew the hope of Nigerians by delivering affordable housing for all.

“This place had been abandoned since 2018. We are here to correct what went wrong. This is just Phase, we still have 900 more units to deliver,” he said.

Ojo said the project would prioritise all Nigerians, including the informal sector, in subsequent phases.

“The informal sector must also benefit. They even have more resources than the formal sector. Nothing stops us from allocating 100 to 150 units to them,” he said.

He assured residents of adequate security, and called on the Federal Mortgage Bank to step up public awareness on mortgage options available for prospective homeowners.

Earlier in his remarks, Engr. Remi Omowaiye, FHA Executive Director of Project Implementation and Chairman of the Commissioning Committee, said the agency was embarking on similar affordable housing schemes in 17 states.

“The next commissioning will be in Abuja this August,” he disclosed.

Also speaking, the Managing Director of the Federal Mortgage Bank, Alhaji Shehu Usman Osidi, said Nigerians can access mortgage facilities at 6% interest for a period of up to 30 years.

Representative of the subscribers,
Prof. A. Adenipekun urged the FHA to expand housing for young professionals.

“We still have many doctors and health workers who need homes. When this is completed, subscribers will exceed expectations,” he said.