The Federal Mortgage Bank of Nigeria (FMBN) has launched a Diaspora Mortgage Loan in London, United Kingdom, as part of efforts to address Nigeria's housing deficit, which exceeds 15 million units. Experts estimate that over N5 trillion is needed to bridge this gap. The initiative aims to integrate Nigerians in the diaspora into the country's mortgage programmes, providing them with access to housing finance. The move comes amid high inflation and rising costs of building materials, which have made it increasingly difficult for Nigerians to build homes.
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