The Federal Government has launched the Diaspora Mortgage Loan, DML, to expand access to affordable home ownership for Nigerians living abroad.
The initiative was officially unveiled in London, United Kingdom,under the National Housing Fund window managed by the Federal Mortgage Bank of Nigeria.
The launch brought together stakeholders from the Federal Government, financial sector and the Nigerian diaspora community.
Minister of State for Housing and Urban Development, Rt. Hon. Abdullahi Ata, and the Permanent Secretary of the Ministry, Dr. Shuaib Belgore, were among senior government officials present at the event.
The Diaspora Mortgage Loan is designed to enable Nigerians living outside the country to access mortgage financing through the National Housing Fund.
The Federal Government says the initiative is part of efforts to mobilise diaspora capital and expertise towards providing decent and affordable housing for Nigerians, regardless of where they reside.
The programme is expected to provide Nigerians in the diaspora with a structured pathway to invest in home ownership in Nigeria while contributing to the development of the country’s housing sector.
The launch in London marks another step in the Federal Government’s efforts to deepen diaspora engagement and create opportunities for Nigerians abroad to participate in national development.