APDC's Akeem Aderogba Discusses Mortgage Access for FCT Residents

Akeem Aderogba, the Acting Managing Director of Abuja Property Development Company (APDC), provided details on how residents of the Federal Capital Territory (FCT) can utilize mortgage facilities to acquire homes without upfront full payment. During the 20th anniversary symposium of APDC in Abuja, Aderogba stated that prospective homeowners can pay an initial deposit of 10-20% of a house's cost, with the remaining balance financed through mortgage institutions.

This initiative aims to alleviate the financial burden on civil servants and low- to middle-income earners amid rising construction costs and inflation. Aderogba noted that APDC has partnered with the Federal Mortgage Bank of Nigeria and the Federal Government Housing Board to facilitate affordable housing access for civil servants.

He mentioned ongoing housing projects, including Abuja APDC Homes in Karsana and another in Ido Gwari, which are expected to accommodate hundreds of families. Challenges such as increasing building material costs were also acknowledged.