L
LequteMan
Guest
The Nigerian government has stated that it is doing its best to ensure that Nigerians can afford houses.
Acting President Yemi Osinbajo, at the Banquet Hall of the Presidential Villa in Abuja on Monday at an event to commemorate the administration's second anniversary said the plan is for the average Nigerian.
According to him, anyone with N30,000 will be able to own a house. He explained that the housing scheme was part of the administration's social intervention prpgramme that had not been mentioned.
"This is 100bn set aside for the Family Home Fund our Social Housing Project. The 100b is a yearly contribution to our N1trn Social Housing Fund, the largest in the history of the country. The World Bank and the African Development Bank are contributors to the Fund. From this Fund, developers will borrow 80% of the cost of project and counter fund with their own 20%.
"The same fund will enable us to provide inexpensive mortgages for hundreds of thousands across the country who want to own homes. Anyone who can afford N30,000 will be able to buy a home under our new social housing fund scheme. Already, the project has started in 11 states. We expect that this family housing fund will jump start and expand construction exponentially across the country."
Acting President Yemi Osinbajo, at the Banquet Hall of the Presidential Villa in Abuja on Monday at an event to commemorate the administration's second anniversary said the plan is for the average Nigerian.
According to him, anyone with N30,000 will be able to own a house. He explained that the housing scheme was part of the administration's social intervention prpgramme that had not been mentioned.
"This is 100bn set aside for the Family Home Fund our Social Housing Project. The 100b is a yearly contribution to our N1trn Social Housing Fund, the largest in the history of the country. The World Bank and the African Development Bank are contributors to the Fund. From this Fund, developers will borrow 80% of the cost of project and counter fund with their own 20%.
"The same fund will enable us to provide inexpensive mortgages for hundreds of thousands across the country who want to own homes. Anyone who can afford N30,000 will be able to buy a home under our new social housing fund scheme. Already, the project has started in 11 states. We expect that this family housing fund will jump start and expand construction exponentially across the country."