Alternative Africa

Top Menu

  • Home
  • About Us
  • Privacy Policy
  • Terms of Use
  • Contact Us

Main Menu

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • Reports
    • Africa-Observers
      • Read Reports
      • Submit a story
  • MORE
    • Health
    • News Now
    • World
    • Technology
Sign in / Join

Login

Welcome! Login in to your account
Lost your password?

Lost Password

Back to login
  • Home
  • About Us
  • Privacy Policy
  • Terms of Use
  • Contact Us

logo

Alternative Africa

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • Reports
    • Africa-Observers
      • Read Reports
      • Submit a story
  • MORE
    • Health
    • News Now
    • World
    • Technology
  • Joe Biden to prioritize legal status for millions of immigrants

  • EU impressed with Museveni victory despite allegations of fraud

  • Guinea president, Alpha Conde becomes first African leader to receive Covid-19 jab

  • Ghanaian Pastor murders daughter over allege witchcraft

  • UK bans deadly Chinese hand sanitiser containing toxic substance

AfricaBusinessNews Now
Home›Africa›Nigeria launches portal for N200b social housing scheme

Nigeria launches portal for N200b social housing scheme

By alternativeafrica
December 18, 2020
273
0
Share:

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.

Nigerian govt. launches portal for social housing scheme. The scheme aims at providing 300,000 low-income houses and creating 1.8 million jobs in the process.

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.

READ ALSO: HOW NIGERIA SECURED THE RELEASE OF 334 KIDNAPPED SCHOOL BOYS-GOV MASARI

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 )

SHARE ON:
TagsNigerian GovernmentSocial Housing Scheme
Previous Article

How Nigeria secured the release of 334 ...

Next Article

WHO advocates stronger action as Africa sees ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

alternativeafrica

Related articles More from author

  • AfricaHealthNews Now

    Nigeria begins verification of local herbs for COVID-19 Cure

    May 20, 2020
    By alternativeafrica
  • News Now

    After 4 years in captivity, Nigeria’s former security chief, Sambo Dasuki reunited with family

    December 25, 2019
    By alternativeafrica
  • AfricaNews Now

    Covid-19: Nigeria begins fumigation of schools ahead of resumption, records 575 new cases

    July 7, 2020
    By alternativeafrica
  • AfricaHealthNews Now

    With 573 new cases, Nigeria launches 3-year response plan to contain COVID-19 transmission

    June 16, 2020
    By alternativeafrica
  • AfricaBusinessNews Now

    Nigeria begins major shake-up of Power Distributing Companies over declining output

    November 22, 2019
    By alternativeafrica
  • AfricaBusinessNews Now

    Nigeria to begin mechanised farming in 632 LGAs

    February 10, 2020
    By alternativeafrica

Leave a reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You might be interested

  • AfricaBusinessNews Now

    Ghana announces free electricity for all till year end

  • News NowPolitics

    Zimbabwe: Parliament drops call for Mugabe to answer questions on diamond mines

  • AfricaAfrikaTVAnne's DiaryFeatureHealthNews Now

    The Urban Voucher Scheme helping Zimbabwe’s expectant mothers

Timeline

  • January 17, 2021

    Joe Biden to prioritize legal status for millions of immigrants

  • January 17, 2021

    EU impressed with Museveni victory despite allegations of fraud

  • January 17, 2021

    Guinea president, Alpha Conde becomes first African leader to receive Covid-19 jab

  • January 17, 2021

    Ghanaian Pastor murders daughter over allege witchcraft

  • January 17, 2021

    UK bans deadly Chinese hand sanitiser containing toxic substance

  • Popular

  • Comments

  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Keynote Address of President Nana Addo Dankwa Akufo-Addo at 2018 Oxford Africa Conference

    By PSJ Africa
    May 14, 2018
  • Morocco begins regional integration by connecting Casablanca Airport with High Speed Train

    By alternativeafrica
    January 4, 2020
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • Nigeria: 32,000 capacity Lagos rice mill to start production in 2020

    By alternativeafrica
    December 23, 2019
  • The return of fortress conservation: why excluding people means biodiversity conservation will fail – Future agricultures
    on
    October 16, 2020

    Inside the training camp of Akashinga, Zimbabwe’s armed, all-women anti-poaching rangers

    […] In parallel to ...
  • The return of fortress conservation: why excluding people means biodiversity conservation will fail - The Zimbabwean
    on
    October 12, 2020

    Inside the training camp of Akashinga, Zimbabwe’s armed, all-women anti-poaching rangers

    […] In parallel to ...
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two | taktik(z) GDI (Government Defense ...
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack fol­lowed a January ...
AlternativeAfrica.com is an independent Pan African News Website dedicated primarily to influencing the negative narratives about Africa. We hope to do this by focusing and showcasing the many developmental strides sweeping across the continent.

Read more >>>

Contact Info

  • 22 Laburnum Court, Laburnum Road, Mitcham London, CR4 2NA, United Kingdom
  • +44(0)2036320939 | +44(0)7535019197 | +44(0)7305356327
  • info@alternativeafrica.com
  • Recent

  • Popular

  • Comments

  • Joe Biden to prioritize legal status for millions of immigrants

    By alternativeafrica
    January 17, 2021
  • EU impressed with Museveni victory despite allegations of fraud

    By alternativeafrica
    January 17, 2021
  • Guinea president, Alpha Conde becomes first African leader to receive Covid-19 jab

    By alternativeafrica
    January 17, 2021
  • Ghanaian Pastor murders daughter over allege witchcraft

    By alternativeafrica
    January 17, 2021
  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Keynote Address of President Nana Addo Dankwa Akufo-Addo at 2018 Oxford Africa Conference

    By PSJ Africa
    May 14, 2018
  • Macron in Ivory Coast to launch anti-terrorism academy

    By alternativeafrica
    December 21, 2019
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • The return of fortress conservation: why excluding people means biodiversity conservation will fail – Future agricultures
    on
    October 16, 2020

    Inside the training camp of Akashinga, Zimbabwe’s armed, all-women anti-poaching rangers

    […] In parallel to ...
  • The return of fortress conservation: why excluding people means biodiversity conservation will fail - The Zimbabwean
    on
    October 12, 2020

    Inside the training camp of Akashinga, Zimbabwe’s armed, all-women anti-poaching rangers

    […] In parallel to ...
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...

Photostream

    Follow us

    • Home
    • About Us
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © Copyright Alternative Africa 2019. All rights reserved.