National Association of Nigerian Traders, NANT, at the weekend formally kicked off building of the first phase of its 5,000 housing units for traders in the Federal Capital Territory, FCT, under the Affordable Home Ownership Scheme.

The project, to be developed by Onos International Nigeria Limited and Databridge International Nigeria Limited, would be financed by the Federal Mortgage Bank of Nigeria, FMBN, in collaboration with the Federal Housing Authority, FHA.

National President of NANT, Mr. Kenny Ukoha, while speaking at the groundbreaking ceremony of the scheme in Abuja, said with commencement of the project, traders would begin to have opportunity to own their houses under a flexible payment package.

Findings revealed that under the scheme, a unit of two-bedroom apartment will go for between N4.5m and N7.5m, depending on the location, while three-bedroom apartment would be from N7m upwards.

The president noted that unlike in the past when it was difficult for traders to own their houses through affordable mortgages; the process had now been simplified.

According to him, 97 percent of traders in FCT are tenants, even in their shops where they do businesses, they are tenants. So, commencement of this laudable project will surely correct that situation.

However, he warned handlers of the project against tribalism, nepotism, religion and ethnic sentiments, insisting that “it should be on first come first serve basis”.

Earlier, Chairman of NANT, FCT chapter, Prince Edozie Ugwu, said the project would be delivered in six months; it would be built to standard with quality materials.

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