*The Federal Government social housing scheme is one of the schemes under Economic Sustainability Plan targeted at providing 300,000 low-income houses and creating 1.8 million jobs ─Presidential Aide

Alexander Davis | ConsumerConnect

Designed to provide affordable houses for low-income earners in the country, the Central Bank of Nigeria (CBN) has committed N200 billion to launching the social housing projects under the Economic Sustainability Plan (ESP) of the Federal Government.

Already about 20 states were said to have indicated interest in the ESP, aimed at providing affordable houses for low-income earners in the country.

Mr. Laolu Akande, Senior Special Assistant (SSA) to the President on Media and Publicity, Office of the Vice-President, in a statement said this Sunday, December 13, 2020, in Abuja, FCT.

ConsumerConnect reports President Muhammadu Buhari June 2020 approved N2.3 trillion Economic Sustainability Plan, prepared by the Vice-President (Prof.) Yemi Osinbajo-led Economic Sustainability Committee.

The presidential aide in the statement said that the social housing project would employ both the services of established developers and young small-medium scale professional contractors (architects, engineers, quantity surveyors, accountants, etc.).

The Federal noted the housing project, which cuts across the six geopolitical zones of the country, is comprised of one, two and three bedroom units respectively.

Housing Estate   Photo: ToLet.Com.Ng

According to Akande, a bedroom unit costs between N1.8 miliion and N2 million, whereas financial assistance would be available for Nigerians to pay the mortgage.

The statement further noted: “The Federal Government social housing scheme is one of the planned schemes under the ESP targeted at providing 300,000 low-income houses and creating 1.8 million jobs in the process.

In order to achieve these project objectives, the government stated “the Family Homes Funds has been appointed as the implementing agency for this initiative and it will construct 300,000 housing units across the country.

“To kick-start the social housing projects, the CBN has already committed to a N200 billion facility, and most of the sites where the housing project will commence have already been identified across various geo-political zones by the Federal Government.

Unveiling some of the 20 states of the Federation that have indicated interest in the ESP, Akande said, “the early start sites include those in Osun and Ogun in the South-East; Enugu in the South-East; Delta, in the South-South; Bauchi in the North-East; Kebbi in the North-West; Nasarawa and Plateau in the North-Central; and a number of sites in Abuja.

“Several other states including Abia, Anambra, Ebonyi, Imo, Cross River, Sokoto, Kaduna, Zamfara, Katsina, Borno, and Yobe are also working towards kick-starting the project in their states in the next phase.