VP Osinbajo: FG to build 1.5 million housing units with subsidised cement prices

Vice-President Yemi Osinbajo says at least 1.5 million Nigerian families will benefit from the Federal Government’s social housing scheme in 24 states.

Osinbajo stated this over the weekend when he presided over a review meeting on the Economic Sustainability Plan implementation at the Presidential Villa, his spokesman, Laolu Akande, said in a statement on Sunday.

The Vice-President also said over 2,000 hectares of land with titled documents have been given by 24 states for the President Muhammadu Buhari administration’s Social Housing Programme, while 17 states have indicated interest to participate in the Solar Power programme, both important elements of the ongoing Economic Sustainability Plan. Jigawa, Akwa Ibom, Ekiti, Kano are to pilot next phase of solar power initiative.

Equally, agreement has now been reached with at least one major cement manufacturer in the country to sell at significantly discounted prices as low as N2,600 per bag of cement for the social housing projects. This was after a meeting the Vice President held with three major cement manufacturers in the country namely Dangote Cement, Bua Cement and Lafarge Cement manufacturers.

Speaking specifically on the mass housing scheme, Osinbajo emphasised that the focus must be on providing affordable housing for the masses.

According to him, “If the Federal Government is going to intervene in housing, most of it should be social housing. Everybody else, including the private sector, can build N9.6 million worth houses, but nobody else will do social housing.

“All over the world, when government intervenes, it is social housing… Those who cannot afford housing are the ones we must focus attention on.

“I think that we have enough problems with finding homes for the vast majority of Nigerians who cannot find a home. The people who are poorest who have no houses are the people we should target because that is what government should do. Let’s focus on this social housing.”

The Vice-President added that the Federal Government would continue to collaborate with States to ensure more Nigerians benefit from the Social Housing scheme.

Under the Social Housing Programme, the Federal Government plans to support 1.5 million Nigerians to acquire low-cost houses through mortgage options and also Rent-to-Own option. The scheme is expected to also generate 1.8 million jobs and deliver houses to about 1.5 million Nigerian families.

The houses are to be priced around and about N2m and N4m each putting it within the reach of the low-income earners, depending on the number of rooms. There are one, two and three bedrooms options.

Commenting on the implementation of components of the Economic Sustainability Plan, Osinbajo said the Buhari administration would continue to focus on creating more jobs while improving access to power and affordable housing for majority of Nigerians.

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