WorldStage Newsonline— The Speaker of House of Representatives, Mr Yakubu Dogara has backed the bill to amend Federal Government Housing Loan Board to administer housing loan scheme to public sector workers.
Dogara who spoke at a public hearing on the bill on Tuesday in Abuja said the bill, when passed will bring succor to public servants.
He added that the scheme would bridge the housing deficit and increase productivity in the public sector.
He explained that the amendment, when it scaled through, would make mortgage facilities more accessible to public servants at lower interest rates than the ones offered by commercial banks.
He noted that “this bill has come at the right time to give succor to civil servants and to enable them to own a house.
“Research has shown that as at September 2016, the lowest recorded interest rate on any mortgage in Nigeria is 19 per cent and requires 25 per cent down payment.
“The question is how many civil servants can afford a mortgage under such harsh condition?.
“It is our objective that when this bill becomes law, most civil servants will have access to a house of their own.
“I sincerely believe that this bill will go a long way in bridging the housing deficit and increasing productivity in our public sector.”
The speaker explained that it was on record that most public servants could not secure accommodation in Abuja due to high cost of rent.
