Housing experts are calling on the Federal Government to provide subsidies for Nigerians within the low-income group to be able to access some of the houses being constructed under the National Housing Programme (NHP).
Their call became imperative following the Federal Government’s launch of a portal for its 5,000 housing units which are under different phases of completion and their prices.
The experts in the housing industry said the cost of the houses is too high for the average Nigerian.
Some of the housing experts under the platform of Festus Adebayo-led Housing Development Advocacy Network (HDAN), stated that unless government introduces subsidy, many Nigerians on the National Minimum Wage of N30,000 monthly would not be able to access the facility, as the one-bedroom flat costs almost N7.3 million.
“We sincerely call on the Federal Government to provide subsidies so that those who really need the houses can afford them.
“The need to travel around to see the quality of the houses and its infrastructure cannot be emphasized.
They argued that the cost of these houses were too high despite the fact that the Federal Government did not pay for the land.
They said: “If the cost of one bedroom is N7 million in Sokoto, Kebbi, Osun, Ekiti and Ebonyi, who will buy them? The costs of these houses are high despite the fact that the FG did not pay for the land.”
According to them, there were private developers who could build one-bedroom flat below N5 million even without free land.
Investigation on the newly launched portal by the ministry has revealed that the cheapest building available on the portal is N7,222,404 for a one-bedroom flat.
The price of the buildings range from N7,222,404 to N9,268,752, N13,241,074 and N16,491,155.8 across the country.States like Gombe, Katsina (Gidan kwa-kwa, Off New Ring road, Katsina); Niger ( 3 Arms Zone, Eastern Bye Pass, Minna, Niger); Taraba (Wukari-Jalingo Road, Jalingo, Taraba); Zamfara (Kuraja-Damba, Off Gusau-Zaria Road, Gusau, Zamfara); Yobe ( Old Damaturu-Maiduguri Road, Damaturu, Yobe) and Adamawa (Sangere Village, along Numan-Jimetta Road, Yola, Adamawa) among others have cost as high as N16,491,155.8.
Concern of the housing experts was hinged on the fact that some of these states are heavily indebted and have large numbers of the poor.
They argued that with the current minimum wage of N30,000, if a Nigerian wants to purchase any of the buildings, the buyer has to make a down payment of 30 per cent of the original cost of the building.
For instance, if the intended buyer chooses to purchase the N16.49 million valued three bedroom flat, the buyer will make a down payment of N4.94 million which is an equivalent of 13 years and seven months salary of a minimum wage earner.
This is based on the mortgage calculator for the housing units provided by the ministry on the portal. If the buyer is settling for the cheapest units, which is N7.22million one bedroom flat, a down payment of N2,166,721.19 million is expected to be paid.
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