Acting President Yemi Osinbajo says under the N100 billion social housing scheme of the present administration, anyone who can afford N30,000 will be able to own a house.

 

He said this at the Banquet Hall of the Presidential Villa in Abuja on Monday at an event tagged “A Smile for Every Nigerian” organised to commemorate the administration’s second anniversary.

The acting president explained that the housing scheme was part of the administration’s social intervention prpgramme that had not been mentioned.

He said: “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.”

Speaking further, the acting president maintained that the Gross Domestic Product (GDP) growth should translate to jobs.

“First the trickle down model has proved far too slow to stem the tide of poverty in one of the fastest growing populations in the world. Secondly, most of the growth was on  account of the oil sector which is capital intensive  but not  labour intensive.

“So, while we were recording growth levels of 7% because of the high oil prices, unemployment figures grew, the acting president stated.

He sad in developing the APC manifesto and the economic development plans, the administration knew it had to directly intervene with a massive social investment programme that would tackle poverty and exclusion across the various spectra.

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36 thoughts on ““Nigerians Can Now Own Houses With N30,000” – Osinbajo”

  4. Okonkwo Chinedu Victor

    Am fully in for this, I want it established in Onitsha anambra state cos the landlords have really exploited us a lot. Pls am interested just give us the steps and info on how to participate.
    vickbrown001@gmail.com

  6. Paul Nwafor

    That’s really good Mr president!!
    At last Nigerians now have a president who think for all Nigerians
    At least our suffering from the landlord’s hands will come to an end…
    Please I will need my own 30k house located in Enugu or Anambra..
    Thank you very much Mr president

  20. Anonymous

    Pls.,is Delta state among the 11 state that has started the project?,if yes,how do we access it?,cos we dont hv any info on dis.God bless.

  23. Anonymous

    typical lie,by the end of the projet no body will able to afford it with that amount……..the rich men will over take it,the poor man be deprive of it mandate,

  29. Mr Onyemachi

    Am interested to own a house in Lagos , please tell me what are the procedures.

  30. Emmanuel nwakaibeya

    dreaming, need to wake up. this corrupt country. even if this is true, it ll not reach d poor people.

  31. D.M.Bare

    Since we gain an Independent in 1960 I have never heard from any government that with just 30k one could own a house in this country.Well, see is believing.Nigerians are watching.

  34. Gazzette

    Location-igando lekki
    Tiverton Estate

    Tiverton Estate, Igando-Orudu, Lekki-Epe, Less than 20 minutes’ drive from Jubilee Bridge, Ajah, Lagos State is a gated layout development (without infrastructure) which is not only the epitome of nature at its best but also a model of efficient planning and infrastructure. The estate is part of an integrated residential township which covers approximately 9 hectares (9,000 square meters) with plot sizes measuring 600sqms each.

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