The Federal Mortgage Bank of Nigeria (FMBN) has announced the provision of mortgage loans to Nigerian Army personnel through the Affordable Home Ownership Option for All Soldiers (AHOOAS). This initiative aims to facilitate homeownership for military personnel and was highlighted during the commissioning of Phase 1 of the project in Idu, Abuja, on December 18, 2024.
The commissioning ceremony, hosted by Chief of Army Staff Lt. Gen. Olufemi Oluyede and conducted by Chief of Defense Staff Gen. C.G. Musa, marked the completion of 400 housing units developed by Post-Service Housing Development Limited (PSHDL), led by Maj. Gen. J.D. Omali.
FMBN’s Managing Director/Chief Executive, Shehu Usman Osidi, represented by the Group Head of Project Finance, Mr. Mohammed Jibo Ibrahim, praised the initiative as a significant step towards improving the welfare of soldiers. He stated that “providing access to affordable and decent accommodation contributes significantly to the well-being, productivity, and morale of our military personnel.”
Osidi emphasized the importance of the Nigerian Army as a key stakeholder in the National Housing Fund (NHF) and reaffirmed FMBN’s commitment to the AHOOAS project, which aligns with the Renewed Hope Housing Agenda of the current administration. He noted the bank’s provision of a N100 billion Off-taker Guarantee to support the development of Renewed Hope Cities and Estates across the country, alongside ongoing efforts to offer mortgage loans to beneficiaries of these housing projects.
Gen. Oluyede hailed the initiative as a landmark achievement in addressing housing challenges for Nigerian soldiers. He expressed gratitude to the FMBN for its support and thanked Governors Umo Eno of Akwa Ibom and Monday Okpebholor of Edo State for allocating land for future phases of the project.
In his remarks, Gen. Musa commended the leadership of the PSHDL and acknowledged the contributions of the late Chief of Army Staff, Gen. Taoreed Lagbaja, to the initiative. He further encouraged other state governors to follow suit and announced a donation of N30 million to support the beneficiaries.
The event also included the presentation of souvenirs to key figures involved in the project, including Osidi and representatives from the Federal Government Staff Housing Loans Board and the Family Homes Fund, which supported the initiative with 50 housing units.
