Nigerians to pay N2m each for planned 300,000 houses – Presidency
The Nigerian Presidency has said the Federal Government will build 300,000 affordable houses for which Nigerians are expected to pay between N1.8 million and N2 million each.
The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement on Sunday, saying the plan to build the houses would begin this week.
He said the houses would be built under the Social Housing element of the government’s Economic Sustainability Plan.
According to the statement, about 20 state governments have indicated interest in joining the housing plan.
“This week, the portal to invite Nigerians interested either as beneficiaries of the Social Housing or as delivery partners would be launched by the Family Homes Fund, the Federal Government agency designated to implement the scheme,” Akande said.
He said the state governments and the Federal Capital Territory that expressed interest in the programme had offered free land for the constructions of the houses.
According to the presidential aide, the states that have shown interest include Osun, Ogun, Enugu, Delta, Bauchi, Kebbi, Nasarawa, and Plateau.
He said the first set of construction sites have been indicated in the named states.
Akande said, “There are also others like Abia, Anambra, Ebonyi, Imo, Cross River, Sokoto, Kaduna, Zamfara, Katsina, Borno and Yobe States that are now working towards joining in a similar vein.
“Under the ESP Social Housing Plan, 300,000 low-cost houses would by itself create 1.8 million jobs in the housing sector and beyond, while as indicated under the ESP approved by the President and the Federal Executive Council, the Central Bank of Nigeria has now committed N200bn facility for the Social Housing Plan.”
According to the statement, the programme has one-bedroom, two-bedroom and three-bedroom units that will be sold at low prices.
He said the one-bedroom unit would cost between N1.8m and N2m, while financial assistance would be available for Nigerians to pay the mortgage.
He said, “The form of financial assistance that will be made available to Nigerians include mortgage loans at low interest rates.
“Financing will be arranged through the designation of a Homes Warehousing Agent that will purchase the completed homes from the developers. Individual buyers will then purchase homes from these Homes Warehousing Agents.
“Family Homes Fund Limited has mobilised cooperatives and other such organised groups across the country as the main off takers for the homes.”
Akande said the FHFL recently met with 93 cooperative leaders from the six geographical zones, under the aegis of the Co-Operatives Federation of Nigeria.
He added that a portal that would allow all interested parties in the scheme to get more information on the programme and express their interest in it would be launched on Wednesday.
