Cooperative housing: FG targets informal sector in new scheme

The first of Federal Government’s planned cooperative housing initiative to reach the informal sector in the country has come on stream as the Minister of Works and Housing, Mr. Babatunde Fashola, commissioned the AKACARE Cooperative Housing Scheme, the Woodhill Estate, at Kuje, in the Federal Capital Territory (FCT) Abuja. According to a statement signed by the  Special Adviser on Communications to the minister, Mr. Hakeem Bello, Fashola said the Federal Government’s choice of cooperative associations as means to reach the informal sector in its housing development was based on their…

Read More

Budget 2020: FG proposes N49.9bn on key power, housing projects

The Federal Government has proposed to spend the sum of N49.9billion on some key infrastructure projects in the power and housing sectors next year. In the 2020 Appropriation Bill now under consideration at the National Assembly, the sum of N2 billion has been set aside as funds for the Mambilla Hydro Power project, N200 million for construction of 215MW LPFO/ Gas Power station in Kaduna while N150 million will be dedicated to Afam Fast Power Programme Accelerated Gas and Solar Power Generation. In the Housing Sector, the sum of N17.5…

Read More

Stakeholders mount fresh pressure over housing sector bills

Again, stakeholders comprising real estate developers, builders, engineers, estate surveyors and town planners are mounting pressure on the National Assembly to expedite action on the outstanding housing bills before it. The housing bills, New Telegraph gathered, are yet to be passed by the National Assembly since 20O4. They include the passage of Foreclosure Bill into law to legally resolve default issues in the housing sector; Review of Land Use Act of 1978; Real Estate (Regulation and Development) Bill 2018; Review of Federal Government Housing Loans Board Bill (FGHLB); Review of…

Read More

FHA plans Abuja Diaspora City, to build 30,000 housing units

The Federal Housing Authority (FHA) has unveiled plans for the construction of Abuja diaspora city to be sited on 750 hectares of land in Kabuzu-Maitama II district as well as 30,000 mass housing units in the nation’s capital city. Acting Managing Director/CEO of FHA, Mr. Umaru Gonto, disclosed this yesterday at an interactive session with House of Representatives Committee on Housing and Habitat. Gonto explained that plans were underway for road shows in parts of Europe and Asia in partnership with Nigerian in Diaspora Organisation (NIDO) as part of efforts…

Read More

Housing: Stakeholders seek injection of N500bn into sector

Worried by  shortage  of affordable homes in the country , concerned stakeholders have  called on the Federal Government to inject N500 billion into building 100,000 housing units across Nigeria. According to them, government should apply the money to build 50,000 units in Lagos, 25,000 units in Port Harcourt, 15,000 units in Abuja and 10,000 housing units in Kano to revamp the economy. This was coming as a response to the recent United Nations’ (UN) report, which rubbished the acclaimed Federal Government’s progress in the housing sector. Canvassing big bang injection…

Read More

Housing: How surveyors pay states in error

The quest by Federal Government and individuals to close accommodation deficit in the country may be far from being attained in the immediate future as so many factors including surveyors erroneously paying Consent Fee to state governors mutate against the target. Apart from this, several other factors are also militating against mass housing projects in the country. They include difficulty in obtaining land title and Governor’s Consent, high transaction costs, weak regulation and high interests rates  among others. Determined to correct some of  the anomalies in the processes of  land…

Read More

Ogun commences low cost housing scheme

Ogun State Governor, Dapo Abiodun yesterday said that his administration has commenced construction of low cost mass houses in Abeokuta and other parts of the State with a view to providing decent accommodation to residents at affordable prices. According to the governor, the houses, when completed, will cost about N4 million each. Speaking at a Thanksgiving and Praise Worship to mark his victory at the Governorship Election   Tribunal, held at the June 12 Cultural Centre, Kuto, Abeokuta, the governor noted that the project was embarked upon to address the…

Read More

Housing: FG to fund FHF for five years

As part of efforts to address deficit in housing sector,  the Federal Government has agreed to provide enough funding for the execution of the Family Homes Funds for the next five years. To this end, it has given a nod to  the board and management of Family Homes Fund to source for more funds from third party institutions like development finance institutions and the capital market. Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, gave the board of Family Homes Fund the nod yesterday in Abuja at the…

Read More

Experts: Finance, land biggest impediments to housing

Property developers have identified finance, land and infrastructure among others as biggest impediments to affordable housing development  in Nigeria. According to the General Manager, Building Services, Urban Shelter, Muktar Aliyu, the problems of finance, land and infrastructure in real estate development should urgently be addressed by government. To solve the problem of finance, some of the experts, who spoke in a forum in Abuja, urged the Federal Government to consider the option of capital market fund for massive housing development programme in the country. They are of the opinion that…

Read More

Enugu develops 500 housing units for low income earners

In a major push towards bridging housing deficit in the state, the Enugu State Housing Development Corporation (ENHDC) has begun moves to construct 500 housing units, the most ambitious housing projects for low income earners in the state. General Manager of ENHDC, Mr. Agu Chukwuemelie, who dropped the hint in his office yesterday during an interactive section with select journalists, stated that the low income housing project would be executed simultaneously with similar projects for high end customers, in conjunction with the Federal Mortgage Bank, Primary Mortgage Bank, Family Funds…

Read More