The Federal Government under the National Economic Sustainability Plan is to provide 300,000 low cost housing units to 1.5 million Nigerians at an estimated cost of over $1.05 billion (N400 billion). To achieve the goal government hopes to provide mortgage loan guarantees to low income earners at low interest and collateral free basis, a member of Economic Sustainability Committee disclosed Monday.
According to him, the implementation of the social housing plan is expected to kickoff next week as early sites for the housing projects have already been identified. The source which pleaded anonymity as he was not authorised to speak, said the Committee has already approved the plan to ensure that the 1, 2 and 3 bedroom units will cost as little as between N1.8million to N2million, while financial assistance would be available for Nigerians to pay the mortgage…
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News Archive from before July 2018