247 Nigeria News Update...We give you news updates all round the clock.
11 Oct 2016
FG to raise Money for housing scheme – Osinbajo.... See How Much
Vice-President Yemi Osinbajo has said that the Federal Government is working with stakeholders to raise one trillion naira to provide affordable housing for Nigerians.
The vice-president spoke at the 22nd Nigerian Economic Summit in Abuja on Tuesday where he chaired a Roundtable on Job Creation, Skills and Employment at the summit. He said that the proposed project would also help to create jobs.
Osinbajo said that the job creation unit in his office had worked out a framework with the Nigerian Economic Summit Group to focus on three sectors to create employment.He listed the three sectors as construction, agriculture and information communication technology.
Under construction, the vice-president said the Federal Government was trying to work on a social housing programme, called the Family Home Fund.
He said, “The Family Home Fund is a financial intervention into social housing in the country.
“We are trying to raise a fund which will come to about one trillion naira; we have aggregated fund from the private sector, local and international funds already.
“The whole idea is to be able to intervene in mortgage financing so that developers can build special houses to the specification of the Federal Government.
“Already eight or nine states are giving land and certificate of occupancy for social housing scheme.
“The idea is that any Nigerian who can afford N30,000 should be able to own a house.”
Osinbajo said that there would emerge job creation opportunities as technicians, engineers and skill workers would benefit from the scheme.
He said there would also be training opportunity from the scheme.
The theme of the summit is “Made-in-Nigeria’’.
The problem of housing in Nigeria has been of interest to every administration and official estimates suggest that more than 17 million houses are needed to cover the country’s 180 million citizens.
Each administration has introduced a different scheme but the impact is not felt by the people.