Acting President Yemi Osinbajo has stated that Nigerians who can afford N30,000 can now own a house under the present administration’s N100 billion social housing scheme.
The Ag. President made the statement in Abuja on Monday during an event organised to mark the second anniversary of the present administration.
Osinbajo noted that the scheme was part of the social intervention programme of the Government saying;
“This is 100bn set aside for the Family Home Fund our Social Housing Project. The 100b is a yearly contribution to our N1trn Social Housing Fund, the largest in the history of the country. The World Bank and the African Development Bank are contributors to the Fund. From this Fund, developers will borrow 80% of the cost of project and counter fund with their own 20%.
“The same fund will enable us to provide inexpensive mortgages for hundreds of thousands across the country who want to own homes. Anyone who can afford N30,000 will be able to buy a home under our new social housing fund scheme. Already, the project has started in 11 states. We expect that this family housing fund will jump start and expand construction exponentially across the country.”