The Federal Government has raised housing loan limits for civil servants across different grade levels.
It says the review will support workers to afford decent homes and improve welfare.
The Federal Government has increased the housing loan limit available to workers in the civil service. Permanent secretaries can now access up to N25 million, compared to the previous N15 million ceiling.
The update was contained in a memo from the Office of the Head of Civil Service of the Federation, signed by Didi Walson-Jack. According to the document, the review is aimed at improving the welfare of government employees and helping them own decent homes.
The memo was addressed to top government officials including the Chief of Staff to the President, the Secretary to the Government of the Federation, ministers and permanent secretaries. It directed interested civil servants to follow all stated guidelines before applying.
It explained that loan amounts will now vary by grade level. Officers on Grade Level 17 can receive up to N14 million, while those on Levels 15 and 16 are entitled to N12 million. Levels 12 to 14 can access N10 million. Those on Levels 8 to 10 can get N8 million, Levels 5 to 7 are eligible for N6 million, and Levels 3 to 4 can apply for N5 million.
Repayment will last up to 25 years, depending on the age of the applicant. Workers who retire before clearing the loan must use other income sources to settle the balance. If a borrower dies without completing repayment, the housing board may take over the property unless the family pays what is left.
Former President of the Association of Senior Civil Servants of Nigeria, Tommy Etim, welcomed the increase. He said workers had long asked the government to make the loan more meaningful, adding that some senior officers previously received only about N5 million.
He noted that the new loan structure is more realistic because each grade’s ceiling also considers the expected income of the applicant.
