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Fri, Mar

Image of Godwin Emefiele, Governor of CBN

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The Central Bank of Nigeria (CBN) announced the take-off of the Federal Government’s N200bn social housing scheme. The housing scheme which is targeted at providing low-budget housing for 300,000 Nigerians is part of the Economic Sustainability Plan (ESP). This was disclosed in a statement by the Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande. He said 20 states, including the Federal Capital Territory (FCT), had already shown interest in the housing scheme, adding that it would provide jobs for 1.8 million Nigerians.

According to the statement, “To kickstart the social housing projects, the CBN has already committed to a N200 billion facility and most of the sites where the housing project will commence have already been identified across various geo-political zones by the Federal Government.


“The early start sites include those in Osun and Ogun in the Southwest; Enugu in the Southeast; Delta in the South-South; Bauchi in the Northeast; Kebbi in the Northwest; Nasarawa and Plateau in the North-Central and a number of sites in Abuja.


“Several other states including Abia, Anambra, Ebonyi, Imo, Cross River, Sokoto, Kaduna, Zamfara, Katsina, Borno and Yobe are also working towards kick-starting the project in their states in the next phase.”


Potential house owners would have the option of choosing either a 1-, 2- and 3-bedroom units with the 1-bedroom unit costing between N1.8 million to N2 million.


Financial assistance such as mortgage loans at low interest rate would be made available to eligible home owners.


The statement further read “A Housing Portal that allows all interested parties in the scheme to get more information on the programme and express their interest in it will be launched on the 16th of December.


“Possible interested parties include individuals and organized groups interested in home ownership under the scheme, as well as, delivery partners such as developers, young professionals in the building industry, suppliers and manufacturers.


“The social housing project will also employ both the services of established developers and young small-medium scale professional contractors (architects, engineers, quantity surveyors, accountants etc.). These groups would in turn employ the needed artisans.”

 

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