President Bola Tinubu says his Administration is currently constructing about 15,000 houses across the Country.
- +FG constructs 15,000 houses across Nigeria – Tinubu
This is just as he said his Administration had strengthened framework that governs equipment leasing so that a builder could have easier access to machineries in the construction industry.
This is just as he said his Administration had strengthened framework that governs equipment leasing so that a builder could have easier access to machineries in the construction industry.
The President revealed this on his official Xhandle stating that his Administration had promised a programme to build on a national scale.
Under the programme, the President had promised 100,000 homes in all, with 50,000 in the first phase through cities of 1,000 units in every geopolitical zone and the Federal Capital Territory, and estates of up to 500 units in the remaining 30 States.
The President revealed that the housing programme is being prosecuted through the Ministry of Finance Incorporated MOFI Real Estate Investment Fund.
“1,859 families across 25 Dtates have now drawn ₦128 billion in mortgages, fixed at 9.75% and repayable over 20 years, terms our people were told for a generation they would never see
“Through Family Homes Funds, we have kept faith with the poorest, housing widows and low-income earners, under a mandate to reach 500,000 homes and the 1.5 million jobs that rise with them.”
In his score card on his 3rd year in office, the President said, ” We broke ground on more than 3,000 homes at Karsana in Abuja, the 2,000-unit city at Ibeju-Lekki in Lagos has reached advanced completion with sales already underway, and across the country, more than 15,000 units are rising as I write this.
“A house does not begin at its walls, and we refused to govern as though it did. We promised to confront the foundation, the tools and the cost of building itself.
“We have moved to title land that sat for generations as dead capital, working with the World Bank to lift this nation from fewer than one plot in ten formally registered toward one in two.
“We have strengthened the framework that governs equipment leasing, so that a builder or contractor can secure the machines a project needs with legal certainty and the confidence of those who finance them, and no site stands idle for want of a crane.
” And we have published uniform prices on our homes, so that no Nigerian pays a bribe to learn the cost of a roof, while raising materials hubs in all six zones so that we build with our own hands and our own resources.
“I will not stand before you and declare the work finished, because it is not. The housing deficit this nation carries is counted in the millions, and it will take years of steady labour to close, and I would rather say that to you plainly than flatter you with a lie. “But the difference now is real. For the first time in a generation, the whole housing value-chain is moving together: the land and its title, the building, the materials, the equipment, the finance, and the family at the end of it, and no part waits idle on another.”
He assured that housing had moved from a welfare conversation to a national growth strategy.
“Real estate and construction now sit among Nigeria’s major GDP contributors, proving that every affordable home financed is also a factory order, a labour contract, a mortgage asset, a household balance sheet and a contribution to national output.
“That is what I promised for our housing sector, and that is what is now being delivered. Renewed Hope was never charity. It is the right of every Nigerian to a place called home”, the President noted.
