FG Approves ₦25m Housing Loan for Civil Servants

The Federal Government has approved an upward review of housing loan ceilings for civil servants, increasing the maximum amount accessible to Permanent Secretaries to ₦25 million.

This development was contained in a memo from the Office of the Head of the Civil Service of the Federation, signed by the Head of Service, Dr. Didi Walson-Jack. The circular, obtained by SpyGist Media, stated that the review aligns with government efforts to improve the welfare and living standards of federal workers.

According to the new structure, Permanent Secretaries are now eligible for loans of up to ₦25 million, while officers on Grade Level 17 can access ₦14 million. Those on Levels 15 and 16 are entitled to ₦12 million; Levels 12 to 14, ₦10 million; Levels 8 to 10, ₦8 million; Levels 5 to 7, ₦6 million; and Levels 3 to 4, ₦5 million.

Before this adjustment, the maximum amount accessible to top-ranking civil servants was ₦15 million.

The memo, addressed to top government officials including the Chief of Staff to the President, Femi Gbajabiamila; Secretary to the Government of the Federation, George Akume; ministers; service chiefs; and permanent secretaries, directed all eligible civil servants to adhere strictly to procedural guidelines in applying for the facility.

The loans, which are to be repaid over a period of up to 25 years, will depend on the applicant’s age. Retirees who exit the service before completing repayment will be required to make alternative arrangements to settle their outstanding balance, while in cases of death, the mortgaged property may revert to the government unless the deceased’s representatives reach a repayment agreement.

Reacting to the development, a former National President of the Association of Senior Civil Servants of Nigeria, Tommy Etim, lauded the review as long overdue.

He said, “We met with former President Muhammadu Buhari a few years ago on the need to raise the loan ceiling so it could be more meaningful. Before now, even senior officers could only access about ₦5 million. The new ceiling makes it more realistic for civil servants to own homes.”

The Federal Government Staff Housing Loans Board oversees the loan facility, which forms part of the administration’s strategy to promote home ownership among federal workers and enhance their welfare.

— SpyGist Media

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Ayobami Ogunshola

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