The Diaspora Housing Scheme, recently launched by the federal government through the Nigerians in Diaspora Commission (NIDCOM), marks a significant stride toward enhancing the participation of Nigerians residing abroad in the National Housing Fund (NHF) Scheme. This innovative initiative provides a platform for diaspora Nigerians to access substantial mortgage funds, extending up to N50 million, with a favorable ten-year tenure and an enticing 6.9% interest rate.
The official unveiling of the Diaspora Housing Scheme took place at the 6th edition of the Nigeria Diaspora Investment Summit (NDIS) in Abuja, where key stakeholders gathered to explore opportunities for collaboration and investment. Arch Musa Dangiwa, the Minister of Housing and Urban Development, expressed the government’s commitment to supporting diaspora initiatives in the housing and urban development sector. He emphasized the need to view the diaspora not just as a source of financial support for national development but also as Nigerians with a genuine desire to own homes in their homeland.
In his address during the launch, Minister Dangiwa underscored the broader perspective of the government’s engagement with the diaspora, stating, “When we think about the diaspora, we are not only thinking of them as sources of finance to develop our country, but we also see them as Nigerians, who though abroad, are desirous of owning homes in Nigeria.” This recognition aligns with the government’s vision to foster a sense of belonging among diaspora Nigerians, acknowledging their aspirations for homeownership in their native land.
Furthermore, Minister Dangiwa encouraged the diaspora community to seize the opportunity presented by the Diaspora Housing Scheme, emphasizing the substantial benefits available in both the short and long term. By actively participating in this scheme, diaspora Nigerians can contribute not only to their personal property ownership goals but also to the overall development of the housing and urban landscape in Nigeria.
One notable aspect of the Diaspora Housing Scheme is its expansion beyond the borders of Nigeria. Minister Dangiwa revealed plans to officially introduce the mortgage scheme in key international locations, including the United Kingdom, Canada, and the United States. This move reflects the government’s recognition of the global nature of the Nigerian diaspora and its commitment to extending housing opportunities to Nigerians living abroad.
Adding to the chorus of support for the initiative was Ms. Abike Dabiri Erewa, the Chairman of the Nigerians in Diaspora Commission (NIDCOM). Speaking at the event, she expressed optimism about the business climate in Nigeria, emphasizing the exciting prospects for investment and growth. Ms. Erewa encouraged participants, both physically present and online, to recognize the pivotal role they play in shaping Nigeria’s future. “As Nigerians, both at home and in the diaspora, we should always be conscious of the fact that home is home, and no one can develop Nigeria like Nigerians,” she affirmed.
Her words resonated with the idea that the diaspora community holds a unique position in contributing to the socio-economic development of Nigeria. By fostering a sense of pride and ownership among diaspora Nigerians, the Diaspora Housing Scheme not only addresses the housing needs of individuals but also contributes to the broader goal of nation-building.
In conclusion, the launch of the Diaspora Housing Scheme represents a forward-looking initiative by the Nigerian government to actively involve its diaspora in the country’s development agenda. With its attractive mortgage terms and plans for international expansion, this scheme has the potential to not only empower diaspora Nigerians in achieving homeownership but also to create a positive impact on the nation’s housing and urban development landscape. As the government continues to foster partnerships and collaborations, the diaspora community finds itself presented with a unique opportunity to shape the narrative of Nigeria’s housing sector, contributing to a brighter and more inclusive future for the nation.
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