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MBAN Prepared to Drive My Own Home Scheme, Says Akinlusi

Maureen Ihua-Maduenyi

Stakeholders in the mortgage sub-sector have revealed plans to simplify mortgage transactions for aspiring homeowners in the country.

One of the steps, according to them, is the inauguration last year of the ‘My Own Home’ scheme, a Public-Private Partnership created to increase access to housing finance and housing in the country.
The scheme is under the Nigeria Housing Fund Programme, set up by the Federal Government and Implemented by the Central Bank of Nigeria with the support of the World Bank’s International Development Association loan.

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

The NHFP has broad-based stakeholders and partnerships that include the Federal Government; Federal Ministry of Finance; CBN; World Bank; Federal Ministry of Power, Works and Housing; Federal Ministry of Justice and Mortgage Banking Association of Nigeria, with mortgage originating institutions participating in the scheme through the equity stake they took in the Nigeria Mortgage Refinance Company.

The scheme entitles all Nigerians above the age of 21 and in paid employment to a low interest government-funded loan, according to the stakeholders.

At a media chat recently, the President, MBAN, one of the critical stakeholders, Mr. Niyi Akinlusi, stated that mortgage origination in the country had been very low.

According to him, only about five per cent of the 13.7 million housing units in Nigeria are financed with mortgages, while the industry currently only contributes about one per cent to the country’s Gross Domestic Product.

He said when compared with other countries, even in Africa, Nigeria was lagging behind, adding that trying to get solutions to these problems was what led to the initiative.

Akinlusi stated that the ‘My Own Home’ scheme would help revamp the housing finance industry and also make access to housing finance a lot easier through the NMRC, which would providing long-term refinancing of mortgages and standardised mortgage procedure.

“There is also the Mortgage Guarantee Scheme, where borrowers with insufficient or no equity contribution can access mortgage for homeownership, and the Housing Microfinance Scheme, which will stimulate increased lending to low-income earners in the formal and informal sectors through microfinance banks for incremental housing construction,” he added.
The Executive Secretary, MBAN, Mr. Kayode Omotosho, said other measures such as involving insurance companies to help investors with equity contribution through their stake in the pension funds were also being worked on.

He stated, “We are talking to the National Pension Commission and very soon, the guidelines will be out and those Nigerians contributing can use up to 25 per cent of their contributions of up to 60 months or five years as equity for mortgage loans.

“In addition to the NMRC, which tackles long-term funding, we also have the Mortgage Warehouse Funding Limited, which will take care of short-term funding. We call this initiative native intelligence to tackle our own challenges. In the past, we must have had issues but now, we need to talk to Nigerians on what to do to own their homes seamlessly.”

According to Omotosho, the recapitalisation of mortgage banks has prepared them for the new initiatives.

He said there had also been improved operational efficiency for mortgage banks with the seamless integration of the customers of mortgage banks into the Bank Verification Number platform and issuance of NUBAN numbers to facilitate online transactions.

“There has also been inclusion of the informal sector with the distinct Uniform Mortgage Underwriting Standards; the amendment of the Pension Act to facilitate withdrawals from the Retirement Savings Accounts for down payments on equity contribution to boost inclusion and reduction in cost of title registration and transfer from 13 per cent of property value to three per cent in Lagos and Kaduna states,” he said.

Akinlusi stated that under the ‘My Own Home’ scheme, 34 primary mortgage banks, four commercial banks and nine microfinance banks had been selected to stimulate housing finance for low-income earners in the formal and informal sectors.

He added that they would benefit from the $15m Housing Microfinance Fund and the $10m Technical Assistance Fund, with LAPO Microfinance Bank as pivot of the pilot scheme in the housing sector.

He explained, “The scheme has set up a framework that will revamp the housing finance sector and also make access to housing finance a lot easier. Unlike the conventional mortgage, the scheme allows beneficiaries to use the loan for the purchase of land and incremental building or renovation.

“People need to know that as long as they continue to pay rents as tenants, they are paying the landlord’s mortgage. They can use this same amount for mortgage and become house owners. When you remain a renter, you have helped the landlord to secure his own house, which will appreciate with time.”

FCTA CONDOLES BEREAVED FAMILY AFTER MAN DIES OF INJURIES FROM COLLAPSING HOUSE.

FCT Administration has sent its condolences to the family of a man who recently passed on following injuries sustained after he was trapped in a collapsing building. Adesola Esho, 43, a former resident of Angwan Saidu, a shanty community located near NAF Conference Centre, Kado, Abuja, had re-entered a structure after a recent demolition exercise.

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

Unfortunately for late Esho, who had earlier evacuated the building, his re-entry proved fatal, as the building collapsed while he was inside, injuring him. It was learnt that he was rushed to the hospital immediately where he later passed out.
In his condolence message to the bereaved family, the Coordinator, Abuja Metropolitan Management Council (AMMC), Malam Umar Shuaibu expressed regret over the unfortunate incident and prayed God to comfort the family of the deceased.

Speaking to newsmen following confirmation of the incident, the Coordinator indicated that AMMC officials upon receiving the report earlier, sent staffs to confirm the incident, but that the mood in the family did not permit any of the members to speak with the visiting officials. The authorities had to contact the Area Commander of Life-Camp who confirmed that the command was in receipt of the report.

According to the Area Commander, the report indicated that the man had been trapped when the building finally collapsed upon the victim’s re-entry.

Malam Shuaibu expressed concern over certain misrepresentations of the facts of the incident by a segment of the mass media, insinuating that the man was in his house when the demolition machine was in operation.

He said, “This administration is a very humane one and always adds a human face to its efforts to enforce the law. The Administration had posted notices in the community in September 5, 2017 and conducted a sensitization meeting with the squatter stakeholders in October 4, 2017, before a final notice in January 2018. He praised the residents for their cooperation with authorities by evacuating their illegal structures to make room for the operations.”

He recalled a recent Court ruling which upheld the authority of FCT Administration to undertake demolition of illegal structures without prior notice. Shuaibu however added that FCT, with the directive of the FCT Minister, was not taking liberty of the law but has been magnanimous enough to give offenders enough room for compliance through notices and warning before any enforcement action is taken.

He lamented that FCT recently has been swarmed by people of questionable character, who easily find hiding places in hastily constructed shanties and illegal structures. He noted that FCT is a creation of law and structures that do not receive approvals or constitute breaches on the master-plan are usually removed to salvage the city from chaos.

Kuwait Government spending to stimulate real estate

By Mohammad Kamal
KUWAIT, Feb 4 (KUNA) — Following recent recession in domestic development, government spending on housing and construction is forecast to trigger hike in the realty demand in Q1 2018.
It is also predicted that hotels and furnished apartments will flourish, in tandem with execution of government mega projects, namely development of Kuwait International Airport, expanding the Amiri Hospital, constructing Jaber causeway, Al-Jahraa and Jamal Abdulnasser roads, in addition to a number of private projects.


The local property market has been affected with unfavorable domestic and external factors, namely imbalance in supply and demand and maintaining a strict credit policy by the banks.
Other factors have also left marks on the market; such as decline of proceeds from realty enterprise, capitals’ shifting to stock markets, unsteady oil prices, geopolitical events and increase of construction materials’ prices.
Moreover, the sector recent recession was attributed to increase of power, water and fuel rates.
Nevertheless, experts believe that investment in the sector remains safe due to high proceeds, reaching in general eight percent.

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

Last year, there were bids to stimulate the market; with auctions confined to selling land plots, however up to 20 auctions had to be delayed due to investors and auctioneers’ absence.
Realty experts, interviewed by KUNA, believe that some of the main factors affecting the market are shortage of promoted plots against high demand and rare investment alternatives.
Rents in the investment and commercial sectors have recently dropped by 10-15 percent, they say.
Qais Al-Ghanim, Secretary of the Kuwaiti Real Estate Association, affirms that the market has remained largely in a lackluster status, with trades not exceeding seven percent of the displayed properties.
Some entrepreneurs have been shifting to the stock market, lured by instant profits.
Suleiman Al-Dlaijan, manager of a property agency, says young citizens, who make up 60 percent of the 1.4 million Kuwaiti population, are number one trades’ seekers. Up to 700,000 young Kuwaitis aspire to own a private house, but most of them cannot afford it.
Figures by the Public Authority for Housing Welfare (PAHW) show that there are 100,000 residence applications per year.
Twelve thousand residential units were distributed last year
Al-Dlaijan believes that hike of power, water bills; restrictions imposed by the Central Bank of Kuwait (CBK) on credits for private housing stemmed the high property prices.
As to trades’ value over the past three years, he said it amounted to KD 4.4 billion (USD 14.5 billion in 2014), KD 3.2 billion (USD 10.5 billion) in 2015 but dropped in 2016 to KD 2.4 billion (USD 7.9 billion).
Abulaziz Al-Dghaisheem, chairman of a realty group, believes that auctions have stimulated the market, however geopolitical factors’ negative impact are still noticeable.
Director General of Athra Real Estate Company Maitham Al-Shakhs forecasts revival of the property market this year, amid predicted economic growth. (end) mke.rk

Lagos Revs Up Economy With New Power And Property Laws

The Lagos State Government has perfected plans to bring about a quantum leap to the State’s economy in 2018 through the Embedded Power Supply Project and the review of the Land Use Charge Law.

The power project, aimed at delivering an estimated 3,000 Megawatts to homes and industries, is expected to lift the economy of Lagos which is Nigeria’s industrial hub, while the revised Land Use Charge Law had been designed to improve the values of property in the State.

The State’s House of Assembly had last week announced the passage of two bills expected to provide the legal framework for the programmes by enacting the Lagos State Embedded Power Supply Law 2018 and the Lagos State Land Use Charge Law 2018.

Both laws are expected to be signed this week by the State Governor, Mr. Akinwunmi Ambode.

Speaking on the development, Commissioner for Information and Strategy, Mr Kehinde Bamigbetan said the two strategic laws were part of the grand plan of the present administration to boost the economy and make life easier and comfortable for the people.

He said: “The Embedded Power Supply programme will provide the enabling environment for the private sector to generate not less than 1000 mega watts every year in the first phase of three years by using gas to produce power and distributing the electricity to consumers.

“As enabler, the Lagos State Government will guarantee the off-take of the generated power.

“This new product is expected to expand the distribution network and increase metering capacity of the electricity distribution firms in Lagos State including Eko Distribution Company and Ikeja Electricity Distribution Company.”

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

Bamigbetan said to ensure return on investment by participating companies and encourage more electricity companies to invest in the embedded power sector, the law has been arranged to provide the framework for the government to support the firms in the collection of tariffs and enforcement of contracts.

Speaking further, the Commissioner said: “A novel feature of the law is the introduction of provisions for the prosecution and sentencing of those who tap electricity illegally or use the power produced through the embedded power system without entering into contracts with the companies.

“Defined as power theft, industry watchers believe that this is the first law to provide penalties for a major cause of financial failures of electricity companies and with regular power supply in homes and industries, the Lagos State Government expects a giant leap in the production and growth of the economy,” Bamigbetan said.

Besides, the Land Use Charge Law is considered as the answer to the agitations of residents for a transparent process of determining rates.

Under the revised law, estate valuers authorised to assess and value tenements will ensure that the data are reliable and the indices are explicit.

The revised law also exempts tenements owned by non-profit organisations, religious bodies and public cemeteries and burial grounds.

Source: PM News

Nigeria Liquefied Natural Gas (NLNG) Donates 70 Housing units for community.

The Vice Chairman of Finima Community Development Committee in Bonny local government area of Rivers State, Mr. Agomienye Tobin, has lauded the management of the Nigeria Liquefied Natural Gas (NLNG) for building a 70 Housing units of four bedroom flats for the people of the community.

Tobin, who gave the commendation during a chat with newsmen in Port Harcourt, said the gesture was commendable as it would give the people of Finima community a sense of belonging. He stated that the Corporate Social Responsibility (CSR) of NLNG in the community has really given the people of Finima a face-lift and great joy, and called on other companies to emulate NLNG in community development projects. The CDC Vice Chairman thanked the Managing Director of NLNG, Mr. Tony Attah for his managerial ability of handling issues concerning the company and the community, enjoining him to keep up the tempo. Tobin, however noted with dismay that there are plans by NLNG to rent the building through some sections of the community without sharing the building among the three major chieftaincy houses in Finima namely Tobin, Brown and Attoni respectively, as it is the right thing to be done to avoid conflict. He stated that the rumour making the rounds could cause communal crisis which would deter the development and progress of the community, and appealed to the authorities of NLNG to Jettision such plans in order not to tarnish their good image, reputation and the good things they have done for the people of Finima Community and Nigeria at large. Tobin assured that FDC will always ensure that peace reign supreme in the community as no development could strive in an atmosphere of acrimony, rancor and infighting. He reiterated his appeal to the management of NLNG to always maintain their good relationship with the people of Finima Community as FDC is ever willing to continue to synergy with them to achieve set goals.

Source: ANAYO ONUKWUGHA

Understanding the dynamics of prefabricated housing

One of the factors responsible for the huge housing deficit in Nigeria is that houses are not being delivered fast enough in tandem with population growth, especially in major cities like Lagos, Abuja, Port Harcourt, etc. A probable solution to this problem is to adopt the use of prefab technology in housing delivery in the country. The prefab technology will make it possible to produce houses en masse across the country very fast.

Prefab

A  prefabricated building is a type of  building  that consists of several factory-built components or units, which are manufactured off-site in advance, usually in standard sections that can be easily shipped, and are assembled on-site to complete the unit.

The process is different from the more conventional construction practice of transporting the basic materials to the construction site where all assembly is carried out. For instance, the conventional method of building a house is to transport bricks, timber, cement, sand, steel  and construction aggregate, etc. to the site, and to construct the house on site from these materials

In prefabricated construction, only the foundations  are constructed in this way, while sections of walls, floors and roof  are prefabricated (assembled) in a factory (possibly with window and door frames included), transported to the site, lifted into place by a crane  and bolted  together.

The word ‘prefab’ is an amalgamation of panelised and modular building systems, and can mean either one. ‘Prefabricated’ may refer to buildings built in components (e.g. panels), modules (modules homes) or transportable sections (manufactured homes), and may also be used to refer to mobile homes, i.e., houses on wheels.

Although similar, the methods and design of the three vary widely. The prefab house requires much less labour compared to conventional houses. Examples of prefab buildings include: Portable cabins or Portakabins); Modular homes; Manufactured homes; and Mobile homes.

Appeal

Prefab buildings are aesthetically appealing, durable, and have a short lead time. That means the time between when the order is placed and when the prefabricated buildings are delivered is short because prefab buildings are quick built factory manufactured homes.

Using this technology, various home types have been constructed with less money and in less time when compared to conventional building systems. Although this technology is not very popular in Nigeria, there are a number of prefab building companies in the country.

When building with conventional techniques, the building site is prepared before building can commence. This is not the case with the prefabricated building technology as off-site fabrication process can take place in the factory while the building site is being prepared and this saves building time.

Why building collapse won’t stop in Nigeria

Building collapse has dealt great blows to Nigerians across all sectors, affecting public buildings, private buildings, government buildings and even religious buildings. Aside the losses recorded in terms of human lives, properties and other things, owners of such buildings will also have to engage labourers to help evacuate the debris and prepare the place for another project.

The most worrisome is that after any incident of building collapse, authorities will reel out glowing precautionary measures to be taken to avoid future occurrences only to soft-pedal in terms of implementation until another incident is recorded.

Building collapse in Nigeria will not stop until the country changes its approach to issues. Building construction is like a sick person and if you refer a sick person to a carpenter for treatment, it is either the person will die or continue to be sick. So buildings will continue to collapse if the nation continues giving its construction contracts to non-professionals. Until building construction is given to engineering professionals, Nigeria will continue to grapple with building collapse and its attendant effects.

The soil in these areas is sandy and loose, so it is not strong or compacted soil, hence, the need for building construction professionals is usually high here. For most of these buildings, they dig long and strong piles foundation; however, few still collapse. Most three- or four-storey buildings in Lagos Island are at best good for 15 years. Remember the lands are not strong and people build on them using templates used for better and more compacted lands. So what causes the collapse of these buildings.

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

Boycotting professionals

This issue has been overflogged both in print and electronic media but the same problem still persists. There is also the problem of egghead professionals who believe they know all and are not ready to take advice from a colleague. There are known cases like that, that have turned awry. For instance, some of the big buildings collapsing in the Lagos business district were handled by professionals.

Cutting corners

The issue contractors trying to make gains at the expense and lives of users of the buildings is another problem that has to be tackled. There should be a check from policy makers to ensure specification is thoroughly followed by contractors.

Human activities

As insignificant as human weight may seem, the moving up and down of live loads and dead loads contributes, over time, in no small measure in wearing down a building. It may take a long time though, but houses also expire and in the case of the types of buildings we have in Nigeria, their lifespan is shorter than others in the civilised world.

Inadequate foundation

The foundation is the most important part of a building. Unfortunately, a lot of people are not giving adequate monitoring to this and it is causing more problem. A registered Structural Engineer is very important to you if you are planning on building a strong and solid multi-storey building.

Aging building

Many do not know that buildings also have their lifespan. Most of the buildings in Lagos Mainland have lasted for 25 years and above, despite that they were built on shallow foundations and with low quality materials. If you use low quality material thinking you’ll cut cost, then be prepared to park out of that building very soon.

The Nigerian Institute of Architects (NIA), after reviewing the situation, blamed the incessant cases of collapsed buildings in the country on the high cost of building materials and the use of substandard materials in building construction. They called for the involvement of architects and other professionals in the building industry in the course of executing capital projects in the country. While various experts groups’ investigations are still underway into the cause of the issue, they suggest some possible common problems that include but not limited to the following:

•The foundations are too weak
Adequate foundations are costly and could cost up to half the price of a building. According to a Professor of Civil Engineering, Anthony Ede, at Covenant University in Ota, Nigeria, two things should be considered when building the foundations – the solidity of the soil and the heaviness of the building and its contents. He noted that in the commercial capital of Nigeria, Lagos, the swampy ground requires strong foundations, far stronger than the ones on solid ground. He observed that developers save money that should be spent on foundations when building on the city’s swampy ground and many buildings have collapsed in Lagos as a result. He added that even on solid ground, foundations need to be strong enough for the load.
•Building materials may not be quality ones

A building expert from the African Organisation for Standardisation, Mr. Hermogene Nsengimana, whose organisation met last month in Nairobi to discuss why so many African buildings collapse, blamed materials not strong enough to withhold the load for the incident. He suggests there is a market for counterfeit materials, going as far as saying that sometimes scrap metal is used instead of steel. When a six-storey building in Uganda’s capital, Kampala, collapsed in April 2017, the director of the city authority suggested it had been constructed with counterfeit materials. Nsengimana said there are even cases of counterfeiters faking authentication certificates but stated that contractors also knowingly use the incorrect materials to cut costs.

So they may use concrete intended to bear the load of a one-storey building in a four-storey building.

•Workers make mistakes

Even when workers are given the right materials to make the concrete, they mix them incorrectly. This results in concrete, which is not of the sufficient strength to hold the load. Developers are also fond of cutting costs by employing unskilled workers who are cheaper than trained builders. Research also shows that majority of workers misunderstand the mixing ratios of concrete. People mostly use wheelbarrows instead of measuring gauges to measure cement. By making assumptions with measurements, you are bound to make mistakes.

• Vibration in any surface

When a building is mounted on a porous surface and heavy machines are made to work there, the building is bound to collapse. This goes a long way to describe why vibrations around any building is capable of bringing accelerated aging and structural defects to projects seen to be solidly constructed.

Today, a lot of structural defects are caused to buildings that the authorities that sanction such activities fail to measure the extent of such damages. One among the measures to take to safeguard foundations of buildings is not to allow heavy duty machines do the excavation job around them. This, if allowed, helps in shaking the foundations of the buildings around that area thereby fast-forwarding the speed with which they age and defect.

Reports after reports have documented the fragility state of many buildings and called for the urgent attention because of their critical disrepair state due to aging and degradation. Delaying prompt actions implies a high risk of catastrophic failures and probable human loss. Retrofitting and rehabilitation provide remedies to reduce the vulnerability of those systems. Almost always, data about the structural health of the components in a building being considered for retrofitting or rehabilitation is required for any engineering calculations. Nonetheless, the true structural condition is challenging to the practitioners in many projects because of the complexity of geometry, framing systems, detailing of connections, workmanship, etc.

Reps ask Military to return unutilised acquired land to host communities

Members of the Representatives on Wednesday urged Federal Ministries of Power, Works & Housing as well as Defence, to work out modalities for the return of unutilized expanses of land forcefully acquired for military barracks to host communities.

According to Afe Olowookere (APC-Ondo), who sponsored the motion, one-quarter of the land area of the cities were acquired by the military government in the ’70s for the construction of military barracks.

Olowookere who frowned at the circumstances surrounding the take-over of the asset, argued that “as at the time those lands were acquired, the communities affected could not raise any voice of opposition inspite of the economic deprivation.”

While noting that the military’s draconian rule, he solicited for the intervention of the House with the view to ensure justice.

“Since the acquisition, none of those lands has been put to maximum use by the Military, rather more than 80% of the land has not been occupied, a good example of which is the Owena Army barrack in Akure, Ondo State; Alamala Army barrack in Abeokuta, Ogun State; Ojoo Military Cantonment in Ibadan, Oyo State and the Abuja acquisition that covers Giri-Zuba-Nnamdi Azikiwe International Airport,” he observed.

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

According to the lawmaker, “Commandants of those barracks have allegedly, using agents, turned to emergency landlords/land owners and are now giving out the periphery of the lands to people that desire land for economic ventures on an annual rentage, and are raking in for themselves colossal amounts of money, while properties of those tenants are usually destroyed in the event of default in payments.”

The House also urged relevant authorities to halt the encroachment of lands acquired for construction of military barracks across the country.

While ruling, Yussuff Lasun, Deputy Speaker who presided over the plenary session, urged that the occupants of the lands to comply with the original purpose for which the lands were acquired.

To this end, the House mandated the joint Committees on Defence and Housing to ensure implementation.
KEHINDE AKINTOLA, Abuja

‘$1.2bn Needed To Turn Around Ajaokuta Steel Plant’

Abuja – The National Assembly has been told that the comatose Ajaokuta Steel Rolling Complex will become operational if the sum of $1.2 billion is invested into it.

The Sole Administrator of the complex, Sumaila Abdul-Akaba, made the disclosure at an interactive session with the Senate and House of Representatives Joint Committee on Power, Steel Development and Metallurgy.

In his presentation, Abdul-Akaba gave breakdown of the amount to include: $513 million for rehabilitation, completion and commissioning while $687 million will be used for balance of external infrastructure.
He pointed out that Nigeria could save over $10 billion annually if the steel company was brought on stream.

He noted that following the last technical audit of the steel plant in 2010, it was estimated that about $1.2 billion was required to achieve the total rehabilitation, completion and commissioning of the plant.
The amount, he said, included balance of external infrastructure.

He appealed to the Committee to ensure the total rehabilitation, completion and commissioning of the steel complex, describing the plant as viable.

The Sole Administrator also told the Committee that by April this year, 55mw electricity plant installed in the complex would come on stream.

He said that there were 10,000 houses in the complex with about 4,000 completed.

Abdul-Akaba assured the Committee that machines installed in the complex are first class, stressing, that “all we need to do is to sort out legal issues surrounding Ajaokuta Steel to bring the plant to run.”

It was gathered that the Enyinnaya Abaribe-led Committee has concluded arrangements to visit the Steel Complex for firsthand information as well as to see how that the National Assembly can facilitate the rolling out of steel.
The Federal Government and Messrs Global Steel Holding Limited, an Indian firm, began negotiations for amicable resolution of the ownership of Ajaokuta Steel Complex in 2008.

The Ajaokuta Steel Company is being developed in three phases and the first phase of 1.3million tonnes steel production has reached about 98 percent completion before the contract was terminated in 1996.

Also in his submission, Minister of Mines and Steel Development, Kayode Fayemi, revealed that a combination of funding and litigation constraints was delaying the rehabilitation and completion of the steel company.

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

The Minister said that they are addressing the issue of institutional capacity and infrastructure.

According to him, “For the first time states are also getting 13 percent derivation due them from solid mineral exploited from their states.”

Source: Independent

Nigerian govt inaugurates task force to facilitate family home fund

The Economic Management Team of the Federal Government has set up a Family Homes Fund’s Task Force to facilitate the implementation and delivery of the Family Homes Housing Project nationwide.

The Chairman and Minister of State II for Power, Works and Housing, Suleiman Hassan made this known on Wednesday in Abuja, at the inaugural meeting of the Land and Infrastructure and Off-take Sub – Committees for the project.
A statement signed by Olatunji John, Principal Information Officer, Ministry of Power, Works and Housing, noted that the Task Force was inaugurated to find lasting solutions to the huge housing deficit in the country.

The minister was quoted in the statement as saying that the project was a new widow intended to deliver more affordable houses to Nigerians.

He explained that the essence was to consistently deliver about 100 housing units annually and create more jobs to the teaming unemployed Nigerians.

The minister added that the Land and Infrastructure sub-committee would engage with relevant state governments and stakeholders on prime locations of land in the various states of the federation.

“The Off-take Sub – Committee is to determine a model for the participation of staff housing cooperatives, adding that this will be able to take care of retired civil servants, officers and personnel of the security forces”.
The minister enjoined members of the sub-committees to bring their wealth of experience to bear in order to actualise this laudable initiative of the Federal Government geared towards the delivery of affordable mass housing.

The statement also noted that the Head of the Civil Service of the Federation, Winifred Oyo-Ita had stated that affordable and quality houses were key issues being pursued by the Federal Government.

Represented by the Permanent Secretary, Service Welfare Office, Didi Walson-Jack, Oyo-Ita added that members of the Off-take sub-committee would do the needful in meeting up with the task ahead.

READ: ABUJA INTERNATIONAL HOUSING SHOW – THE LARGEST HOUSING AND CONSTRUCTION EXPO IN WEST AFRICA

Also speaking, the Special Adviser to the President on Economic Matters, Adeyemi Dipeolu noted that one of the most important aims of the Family Home Project was to identify the financing requirement and draw up a sustainable financing of the models.
He said it would also draw up structure of financing and buy-in of relevant Agencies including the Nigerian Mortgage Re-Financing Corporation for the continuity of the programme.

SOURCE NAN

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