The Federal Government of Nigeria says developers of new estates in the country must, henceforth, incorporate between 15 and 20 per cent low-income houses in their projects.
This, according to the government, is in line with plans of ensuring affordable housing and reducing the 18 million housing-unit deficit in the country and the challenge of building one million houses per year.
Speaking in Abuja during the inauguration of the Board of Directors for the Federal Mortgage Bank of Nigeria, the Minister of Lands, Housing and Urban Development, Amal Pepple, said the directive was borne out of the need to provide sustainable housing for low-income earners.
According to Pepple, the government is making arrangements with dealers of building materials to achieve this and to make housing accessible to individuals who may not afford as much as N6m.
The minister urged the board to develop alternative funding mechanisms that would match the needs of mass housing delivery.
She urged members of the board to work with stakeholders for sustainable housing delivery, especially affordable low-cost housing, social housing and cooperative housing.
In his acceptance speech, the Chairman of the Board, Chief Olabisi Ogunjobi, said the members were delighted and privileged to have been chosen by President Goodluck Jonathan to serve.
He stressed that an efficient housing sector would contribute immensely to economic development.
No comments:
Post a Comment