OPIC Tasks Investors on Mortgage Scheme

In its quest to boost the housing sector, the Ogun State Property and Investment Corporation, (OPIC), is working with stakeholders in the sector to roll out a mortgage scheme that will enable aspiring homeowners 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.


Odusolu gave this hint during a media chat while conveying stakeholders on an inspection tour in and around OPIC estates along Lagos-Ibadan highway corridor recently.  The inspection tour opened the 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, the Nigeria Mortgage Refinance Company  “ 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.”

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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.’’

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.

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.

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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 its citizens to the 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 re-positioning we long to have in Lagos – Ogun States borderlines” he reiterated.

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Source: The Nation


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