Nigeria launches portal for N200b social housing scheme
London, Dec. 18, 2020 (AltAfrica)-The Nigerian government has launched the portal for the 300,000-unit national social housing scheme aimed at delivering affordable housing and millions of jobs to Nigerians.
The government’s N200 billion facility social housing scheme is one of the planned schemes under the Economic Sustainability Plan (ESP) prepared by the Vice President Yemi Osinbajo-led Economic Sustainability Committee.
It was approved by the Federal Executive Council and supported by the Central Bank of Nigeria. It is targeted at providing 300,000 low-income houses and creating 1.8 million jobs in the process.
The Family Homes Fund, the federal government agency designated to implement the scheme, launched the portal Wednesday in Abuja.
The Managing Director of the Fund, Femi Adewole, who spoke during the launch, said the portal will enable the housing allocation to operate openly and transparently.
“Individuals can log on the site to register interest in specific projects. For those who are not able to navigate modern technology, we will collaborate with other partners, including mortgage banks and the co-operative societies to assist.
“Secondly, it provides an opportunity for a group of young professionals with qualifications, skills, or experience in building and construction to register interest in participation as SME Partners. Typically, SME Partners will be allowed to build about 20 – 30 units of housing initially, going on to larger opportunities as they grow. We expect to hire about 6,000 SME Delivery Partners during the life of the project.
“Finally, the portal will provide an opportunity for local manufacturers of building materials such as doors, windows, ironmongery, etc to register interest in participation as bulk suppliers into the project. This will help us achieve one of the project objectives of ensuring up to 90 per cent local inputs by 2021. It will have the opportunity to revitalise parts of our manufacturing sector and create more jobs.
“I encourage you to visit the site at www.nshs.com.ng.
At the media launch, the agency also introduced the sample homes it built, each costing N1.4 million and N1.8 million for the one bedroom and two-bedroom units respectively at Dei-Dei area of Abuja.
According to him, the introduction of the sample structures is to test out their assumptions about the feasibility of building a home at this threshold cost and see what it will look like.
“To also test acceptability with potential occupiers and you as housing professionals. Drawing on the feedback gotten to adapt and continuously improve and to show ‘that it’s not easy, but it’s possible!’”
So far, 20 states and the Federal Capital Territory have indicated interest in joining the scheme.
They are Osun, Ogun, Enugu, Delta, Bauchi, Kebbi, Nasarawa, Plateau, Federal Capital Territory, Abia, Anambra, Ebonyi, Imo, Cross River, Sokoto, Kaduna, Zamfara, Katsina, Borno, and Yobe states.
The Managing Director of the Nigeria Police Force Property Development and Construction Company, the major developer partner of the project, Kemi Olomola-Sijuwade, was also at the event.
She said the housing deficit in Nigeria is as much a supply problem as it is a demand problem since most houses are not affordable to the majority of Nigerians.
“So, one of the key ways to increase demand for housing in Nigeria is through the availability of funds to enable ordinary Nigerians, the average income earner, to be able to own a home at minimal cost, as against the currently prevalent model where intending home buyers have to save up and make full cash down payments.
“And the way to achieve this is by providing massive and affordable access to mortgage facilities over prolonged tenures. If this is achieved and sufficient awareness is created, like what is being done here today with this event, I am convinced that we would see increasing demand for housing in Nigeria.
“And with growing demands owing to availability and access to affordable housing funds, supply will grow as more developers and other stakeholders will confidently invest in the sector knowing that their returns are guaranteed.
“More so, this will orchestrate a ripple effect on the economy at large as more jobs will be created and other sectors like manufacturing, insurance, and transportation and will be bolstered, and construction will take its rightful place in contributing significantly to the National GDP beyond its meagre average of seven per cent in recent years – thus emulating the sector’s contribution to most developed economies around the world like the USA and Australia,” she said. (Premium Times )