Social housing scheme: FG, cement manufacturers agree on discount

Posted by News Express | 4 January 2021 | 942 times

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•Vice President Osinbajo


Vice President Yemi Osinbajo says the Federal Government and cement manufacturers had agreed on a discount for the government’s Social Housing Scheme, being implemented under the Economic Sustainability Plan (ESP).

“They have agreed to give cement for this project at considerable discount, which is a very helpful thing to do, and we really commend and thank them for the contributions they are making. It is a very patriotic thing on their part. They also see the importance of this Mass Housing Programme”, he said.

A statement on Sunday, in Abuja, issued by Osinbajo’s spokesman, Laolu Akande, quoted the vice president as saying that the discount was part of Federal Government’s determination to ensure the success of the scheme meant for low-income earners.

Osinbajo, who was visiting completed units of the model houses at Dei Dei, a Federal Capital Territory suburb, observed that it was possible to deliver decent and affordable accommodation that would be within the reach of many Nigerians.

After inspecting the prototypes of the one-bedroom and two-bedroom bungalows, Osinbajo expressed satisfaction with the quality of the design and the fact that the houses were very affordable.

According to him, on the average, anyone earning N30,000 a month and was ready to spend a third of that amount, would be able to afford one of these houses, that is the plan.

“From What I have seen so far, there is a one-bedroom unit and there is a two-bedroom unit, both coming under N2 million. I think that this is a very good thing indeed. And a point has been made that it is possible to build good, decent accommodation that isn’t out of the reach of practically everyone.

“We are hoping that we will be able to replicate this not just in Abuja but all over the country.  So far, the Family Homes Fund is in 11 states, and they have given up land for the project.

“We are hoping that this year, we will be able to very rapidly improve the scale and speed of putting these houses in place.

“Once we are able to get moving quickly, we think we can make available several thousands of houses across the country and more people can afford to live in such houses”, the vice president said.

The vice president noted that the job creation component of the ESP would also be actualised through the Social Housing Scheme, as there were young men and women, who are builders, architects, civil engineers, working on the project.

”We are hoping that a lot of the building materials will be locally fabricated, especially the windows, doors and other components of the houses,” he said.

The social housing scheme is an important aspect of the plan by the Federal Government to address the nation’s housing needs and it entails building thousands of low-cost houses, creating jobs and wealth for youths that will be engaged in the construction of the houses.

Under the ESP, the Federal Government mandated the Central Bank of Nigeria to provide financing for the housing scheme and already a first tranche of N200 billion had been approved as the first tranche already.

There would also be a “Rent-to-Own” option as part of the administration’s resolve to impact the common man, in the social housing plan that had been earmarked to generate 1.8 million jobs and deliver 1.5 million houses Nigerian families.

The implementing agency, Family Homes Fund (FHF) Limited, an agency under the Federal Ministry of Finance, had already mobilised thousands of Cooperative groups across the country to participate in the scheme.

Individuals would also be eligible for participation in the scheme, by applying through the portal: (NAN)

Source: News Express

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