FG to commit N200B to housing units for low income families – Osinbajo

Professor Yemi Osinbajo Vice President Yemi Osinbajo, has restated the Federal Government’s committment to addressing housing deficits in the country.

Osinbajo gave the assurance of commitment in an address on Friday in Abuja at the inauguration of the 2020 two-day (Oct. 9 and 10) National House fair, being organised by Bstan Homes ltd.

Osinbajo, represented by the Minister of State, Federal Ministry of Works and Housing, Dr Abubakar Aliyu, said the fair initiative is apt in terms of government plans to meet housing needs.

Osinbajo said, “Since the establishment in 2017, the National House Fair has pursued the task of pulling together key stakeholders in the real estate industry towards addressing the housing bottlenecks.

“It is understood that the house fair is a veritable platform for facilitation of housing deals, we are aware that the challenges bedeviling housing development in the country require emphasis.

“President Muhammadu Buhari is determined to take 100 million Nigerians out of poverty in the next 10 years and housing has been identified as a major tool for the realization, due to its multiple efforts.

“Consequently, in line with the FG sustainability plan, CBN has recently approved the sum of N200 Billion for 300,000 households, the facility is to enable Family Funds ltd finance construction of social housing units for low income earners.

“The Federal Ministry of Works and Housing has introduced a programme tagged, Affording Housing Development and Management Initiative, aimed at reducing housing deficit through collaboration with public and private entities.”

He said the initiative would boost the housing economy, increase National Housing stores and promote cooperatives, management of public buildings, hostel accommodations, deployment of unoccupied houses for either development schemes or rental initiatives.

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