The Federal Government has commenced plans to build 300,000 houses for low-income Nigerians.
The project will take place under the Econ Sustainability Plan (ESP) of the administration and it will be managed by Family Homes Funds Limited (FHFL).
Answering reporters’ questions after the visit to one of the construction sites of the social housing scheme, in Dei Dei, FCT, Abuja, Osinbajo noted the contributions of major cement manufacturers in the country towards the success of the programme.
After seeing the prototypes of the one-bedroom and two-bedroom bungalows, the vice president expressed satisfaction with the quality of the design and the fact that the houses are very affordable.
His words: “On average, anybody earning N30,000 a month and is ready to spend a third of that amount will be able to afford one of these houses, that is the plan. What I have seen so far, there is a 1-bedroom unit and there is a 2-bedroom unit, both coming under N2million.”
Already, the Central Bank of Nigeria has said it will release a cumulative maximum limit of N200billionn to provide construction finance facility to enable FHFL to implement the federal government’s social housing programme as part of the Economic Sustainability Plan 2020.
Meanwhile, the Nigerian Air Force (NAF) has indicated its interest in partnering FHFL to provide affordable post-service housing for its personnel as part of efforts to improve their post-retirement life.
The Post-Service Housing Scheme is targeted at the Non-Commissioned Officers (NCOs) cadre in the NAF.
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