The Federal Government will this week formally launch the portal to invite intending beneficiaries and partners in the construction of over 300,000 affordable housing units under the Social Housing element of its Economic Sustainability Plan across the country, which is expected to create about 1.8 million jobs.
Already, about 20 state governments have indicated interest in joining the housing plan.
An update on the Social Housing plan of the ESP released on Sunday by the Senior Special Assistant on Media and Publicity to the President in the Office of the Vice President, Mr Laolu Akande, noted that the portal to invite Nigerians interested either as beneficiaries of the Social Housing or as delivery partners would be launched by the Family Homes Fund, the Federal Government agency designated to implement the scheme.
The first phase of the scheme will take place in Osun, Ogun, Enugu, Delta, Bauchi, Kebbi, Nasarawa, Plateau, and the Federal Capital Territory.
Some housing units will be offered for as low as between N1.8m to N2m, according to Akande.
There are also others like Abia, Anambra, Ebonyi, Imo, Cross River, Sokoto, Kaduna, Zamfara, Katsina, Borno and Yobe States that are now working towards joining in a similar vein.
The Central Bank of Nigeria has also committed N200 billion facility for project.
“The programme has 1-, 2-, and 3-bedroom units that will be sold at low prices. The 1-bedroom unit will cost as little as between N1.8miliion to N2million, while financial assistance would be available for Nigerians to pay the mortgage.
“The form of financial assistance that will be made available to Nigerians include mortgage loans at low-interest rates.
“Financing will be arranged through the designation of a Homes Warehousing Agent that will purchase the completed homes from the developers. Individual buyers will then purchase homes from these Home’ Warehousing Agents.
“Focusing on job creation under the social housing project, jobs will be created from the need for the local production of building materials and housing inputs such as doors, windows, hinges, frames, cement, paints. For instance, about 1.5 million doors would be needed, 1.8 million windows, 7.8 million hinges amongst other input needs.”
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