(Ecofin Agency) - The Federal Government plans to support the Federal Mortgage Bank with N500 billion ($1.6 billion) to meet the housing needs of Nigerians, the Minister of State for Power, Works and Housing, Mustapha Baba Shehuri, revealed on Monday.

Baba who disclosed this while launching the ministerial pilot housing scheme project financed by the Federal Mortgage Bank in Jalingo, commended the bank’s efforts toward meeting the challenges of housing deficit, despite the economic challenges in the country.

According to him, the measure would help the bank provide for the rising mortgage finance needs of workers.

He, however, urged workers to continue to contribute to the housing fund, saying that the government would before long begin the construction of a 5,000 housing units in each state of the federation, under the public-private partnership arrangement.

Anita Fatunji