Dayo Awoniyi ;
President Bola Ahmed Tinubu, has approved the sum of one hundred and twenty six billion naira(N126bn) to cushion the effect of housing deficits in Nigeria.
The money is expected to pave way for the delivery of hundred thousand homes across the country within eighteen months.
Minister of Housing and Urban Development, Arc. Ahmed Dangiwa make this known during the groundbreaking ceremony for three thousand housing units the Karsana area of the Federal Capital Territory ( FCT) recently.
Dangiwa said the fund for the housing project will be source from various means ranging from Federal Mortgage Bank of Nigeria (FMBN), allocation for Federal Ministry of Housing and Urban Development amongst other sources.
He further said that there is plans in the pipeline to build six thousand housing units in the first three months of this year.
He however said that the housing units within the Renewed Hope Cities shall be sold at commercial rates and a significant percentage will be reserved for a concessional rates for low and medium income Nigerian who are affiliate of labour unions in the country.