The Federal Government has highlighted that a significant number of its employees are unable to benefit from government-backed housing loan programs due to existing salary deductions linked to various commercial loans. Hajiya Salamatu Ahmed, the Executive Secretary of the Federal Government Staff Housing Loans Board, revealed this challenge during the recent Permanent Secretaries’ Quarterly Forum with Union Leaders.
According to Ahmed, the financial strain caused by multiple loan repayments from private lenders limits workers‘ eligibility for the government’s housing finance initiatives. This situation underscores the broader issue of employee indebtedness affecting access to affordable housing solutions.
Recent data indicates that over 60% of federal workers have ongoing loan obligations, which significantly reduces their disposable income and capacity to take on additional credit. This trend not only hampers individual homeownership goals but also impacts the overall effectiveness of government housing schemes designed to support public servants.
To address this, the Federal Government is exploring strategies to streamline loan deductions and improve the accessibility of its housing loan programs. These efforts aim to alleviate the financial burden on workers and promote greater participation in affordable housing opportunities.
The post FG attributes limited access to housing loans among workers to multiple loan deductions first appeared on Nairametrics.
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