The Federal Government has completed 2,249 low-cost houses out of the 4,694 units being developed in 34 states and the Federal Capital Territory, the Minister of Works and Housing, Babatunde Fashola, made this known on Monday.
Fashola said this at the 15th Abuja International Housing Show in Abuja, he said construction of the buildings commenced in 2016 under the National Housing Programme which focused on the development of acceptable and affordable houses nationwide.
He explained further, “The philosophy behind the NHP is the provision of a pilot housing scheme that is affordable, accessible and acceptable as contained in the National Housing Policy.
“A total of 1,021 building contractors have been engaged under phases I and II of the program since the inception in 2016 and 13,680 and 41,040 direct and indirect jobs have been generated.
“During this period, the ministry has undertaken the construction of 4,694 housing units, out of which 2,249 units have been completed in 34 states and FCT with a total of 41 sites spread over the 34 states and FCT.”
The minister told participants at the AIHS that the Federal Mortgage Bank of Nigeria had engaged 86 cooperatives in various housing projects.
He said the bank had approved a cumulative sum of N35.78bn and disbursed N10.95bn for building projects, while 57 Cooperative Housing Development Loans were being processed as of January 2021.
He explained that the potential for accessibility and affordability was that cooperative members could choose what they want and therefore design and build to fit their own individual and group budget, among other stipulated requirements.
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