Nigerian Government Earmarks $1.3b for Housing

Nigeria’s Vice President, Alhaji Namadi Sambo, has said that the Nigerian government has earmarked about N200 billion (US$1.3 billion) for the provision of housing to Nigerians.

Declaring open the 4th Architects’ Colloquium with the theme: “Architecture and the Nigerian Development Agenda IV-Sustainable Built Environment, ” at Yar’ Adua Centre, Abuja on Tuesday, Sambo said that a N200 billion (about US$1.3 billion) loan facility would be provided for prospective beneficiaries through the Federal Mortgage Bank.

“We have in plan to support the Federal Mortgage Bank with about N200 billion (about US$1.3 billion) for the provision of housing to Nigerians.

“We also have in plan to attract cheap funding from our international development financial institutions to support the building industry in Nigeria.

“The cumulative effect of all these programs shall be the creation of millions of jobs to our teeming population and ultimately result in a transformed Nigeria of our dream. A nation that by the year 2020, shall be among the most developed countries in the world,” he said.

Sambo said that the federal government was determined to enforce the provisions of the Building Code to stem incidences of collapse building.

He gave an assurance that his government would give all necessary support and logistics to the Building Code Advisory Board to enable it discharge its duties creditably.

He urged the Architects Registration Council of Nigeria (ARCON) to partner with the government to create the appropriate avenue for the attainment of the much needed revolution in the building industry.

Source African Press Agency

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