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Real Estate and Construction

FG moves to construct 300,000 housing units for low-income earners

The Federal Government is set to construct 300,000 homes across the country for low-income earners.

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Lagos says defaulting allottees of housing schemes in Lekki, Ikeja, others to lose houses, real estate, Proposed NHF Law takes a twist, as top Nigerian experts differ on its impact, Richard Olodu, affordable homes 

Federal Government has disclosed that it is set to construct 300,000 homes across Nigeria for low-income earners under its National Social Housing Programme (NSHP).

This disclosure was made by the Government in a tweet which was made public via the official Twitter handle of the Federal Government of Nigeria.

READ: IGR: States make N1.33 trillion in 2019, grows by 14.1%

The government disclosed that low-income earners can become homeowners easily under the new NSHP initiative, which seeks to deliver affordable housing pegged at 300,000 units and millions of jobs for Nigerians.

The NSHP

  • The National Social Housing Programme (NSHP) is the housing component of the President Muhammadu Buhari Economic Sustainability Plan to deliver affordable housing and millions of jobs for Nigerians.
  • Under this programme, 300,000 homes will be constructed in all states of the federation including the Federal Capital Territory (FCT), with the Family Homes Funds (FHF) as the lead developer, however other Nigerian partnerships and collaborations are welcomed to facilitate the construction of these homes.

READ: Buhari earmarks N420 billion for N-Power, GEEP and others under NSIP in 2021 budget

The National Social Housing Programme (NSHP) will allow individuals in the low-income bracket to afford a house with as low as ₦2,000,000 only. According to the Government some of the offers which would be made available for aspiring homeowners throughout Nigeria are:

  • 2-Rooms (1 Bedroom House) for ₦2,000,000.
  • 3-Rooms (2 Bedroom House) for ₦2,750,000.
  • 4-Rooms (3 Bedroom House) for ₦3,500,000.

READ: FEC approves N87billion for construction of roads

Why this matters

FG stated that this initiative is highly imperative, given the cost of housing in sub-Saharan Africa, which is relatively high. Hence, it is often a luxury to own a home despite the basic nature of shelter needs.

The situation, however, for low-income earners is bad as they have competing needs such as food and clothing to consider before making any investments in house ownership.

READ: COVID-19: World Bank approves $114 million response funds for Nigeria

The government in this regard has decided to intervene through the provision of a Mass Housing Programme of 300,000 homes across Nigeria for low-income earners.

The Social Housing Programme is expected to play a huge role in reducing the socioeconomic challenges that emerge from the development of slum settlements.

This takes avid steps towards making the Sustainable Development Goal (SDGs 11) a reality, as it the NSHP aimed at making cities and human settlements inclusive, safe, resilient and sustainable.

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READ: FG’s conditional cash transfer programme gets more beneficiaries despite criticism

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What you should know

  • Nairametrics reported three months ago that the Central Bank of Nigeria (CBN) had approved the sum of N200 billion as mortgage finance facility to the Family Homes Fund Limited (FHFL) and targeted at low-income earners.
  • This fund was approved to fast track the construction of 300,000 homes in the 36 states of the federation and the Federal Capital Territory and to create up to 1.5 million jobs in 5 years.
  • According to The Punch, the Managing Director, Federal Housing Authority (FHA), Senator Gbenga Ashafa, on October 20th 2020, signed a Memorandum of Understanding on behalf of the government with Family Homes Funds Limited for the construction and delivery of 1,000 homes, being phase one of the 300,000-units social housing projects.
  • He told journalists in Abuja that some FHA directors on Monday visited the site where the first 1,000 houses would be built in Bwari, a satellite town in Abuja. He added that full construction would start in November.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

5 Comments

5 Comments

  1. Ali kabban

    December 16, 2020 at 6:01 pm

    How do i apply for the housing unit

    • Happy Kyafa

      December 22, 2020 at 7:32 pm

      How would I be a beneficiary?

  2. Lucky Accord

    January 17, 2021 at 6:27 pm

    How do i apply for this scheme.

  3. Imelda Sylvester udoh

    January 20, 2021 at 5:51 pm

    Please how do I apply for this scheme

  4. Imelda Sylvester udoh

    January 20, 2021 at 6:16 pm

    I want to be a beneficiary

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Real Estate and Construction

Lagos warns land grabbers to stay clear of state’s lands

Lagos warned land grabbers against fraudulent sales of government land.

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Lagos dismisses levy on audio and visual contents, suspends LSFVCB boss, Lagos SEC meeting goes virtual as full lockdown commences, Partial lockdown guidelines for businesses from May 4, Nigeria @ 60: Lagos State Government opts for a low-key celebration of the Independence Day

The Lagos State Government has warned land grabbers against the fraudulent sales of government land, as it steps up efforts to address the menace in the State.

This was disclosed by the Lands Bureau in a statement shared via Twitter on Wednesday.

The Permanent Secretary, Lands Bureau, Mr. Bode Agoro stated that the State was addressing incidents of defrauding unsuspecting members of the public by land grabbers, known as ‘Omonile’.

He urged members of the Real Estate Developers Association of Nigeria, community leaders, land surveyors and other key players in the sector to see the land-grabber menace as a common enemy to the growth of the Real Estate sector and efficient land resources management in Lagos.

READ: Lagos warn against unlawful ownership transfer of state housing units

He said, “These Land Grabbers have now taken their game to a new level as they have the audacity to erect signposts bearing Lagos State Government logo and excision application file numbers in their desperate attempt to deceive the prospective buyers.

“This engagement is, therefore, crucial at this material time as we cannot afford to fold our arms while some dubious persons continue to take advantage of hardworking and responsible Lagosians by selling illegal lands to them.”

According to him, if the Omonile syndrome was not nipped in the bud, it would fester and continue to prevent many well-meaning corporate organisations from making investment decisions due to the confusion, anarchy and avoidable conflicts caused by land grabbers’ activities.

READ: Lagos takes building demolition exercise to Ilupeju

What they are saying

Chairman, Real Estate Development Association of Nigeria (Lagos State Chapter), Mr. Bamidele Onalaja, explained that members of the Association were fully committed to working with the government to confront the challenge posed by land grabbers’ activities in the State.

The Co-Ordinator of the Lagos State Special Taskforce on Lands Grabbers, Mr. Owolabi Arole, noted that the Lagos State Properties Protection Law 2016, established a task force to enforce the provisions of the law and vested in it, power to arrest offenders.

READ: Lagos removes 200 shanties at Opebi to maintain planning standard, restore order

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What you should know

  • Some of the communities where activities of land grabbers are most notorious in Lagos State are Okenla Village, Idake Village, Ajao Oki Village, Ladegbole Village, Imedu Village, Iratirin Village, Obadimisi Village, Shekina Alo Village, Fowoseje Village, Iraboko Village. Adamatiye Community, Ogunro Community and Sorogun Community – all in Ibeju-Lekki, as well as Ogombo Village in Eti-Osa and Oshiun Village in Kosofe, Lagos State.

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Real Estate and Construction

Lagos re-channels, re-aligns Banana Island shoreline, says demolition continues

Lagos says there is an urgent need to nip the land extension work in the bud.

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The Lagos State Government has commenced the re-channelisation and re-alignment of the Banana Island shoreline, with the dredging and re-opening of the illegally reclaimed portion of the Creek at 101 Close, First Avenue on the Island.

This was disclosed by the Commissioner for Waterfront Infrastructure Development, Arc. Kabiru Ahmed Abdullahi, on Wednesday.

While inspecting the reopening of the creek, Abdullah explained that there was an urgent need to nip the land extension work in the bud.

READ: Lagos warn against unlawful ownership transfer of state housing units

According to him, the extension has narrowed the creek and brought about distortion in the aesthetics of the shoreline as well as a high possibility of environmental degradation.

The Commissioner stated that perpetrators of the illegal reclamation into the Lagoon violate the Physical Planning laws of the State, adding that they had been served with ‘Stop Work’ orders but persisted in the reclamation and construction.

He said, “State Government will not fold its arms and watch the degradation of its environment and attendant risk to life and property of the citizenry.

“The demolition, as well as dredging and channelisation works on the illegally reclaimed lands, will continue at Banana Island and other shoreline areas of Lagos in order to restore sanity.”

READ: Lagos State launches Joint Revenue Committee for efficient tax administration

What you should know

  • The State Government commenced the demolition of buildings that contravened the building laws and regulations in Banana Island on Monday.
  • At 102 Close, K Zone, a section of the lagoon has been reclaimed with just the provision of narrow drainage for water to flow. As a result, the concrete and perimeter fence erected facing the lagoon were pulled down, while the building was sealed and the gate locked.
  • At 306 Close, a two-storey building under construction was pulled down for not getting an approval to build, as the development encroached on the state shoreline.
  • It would also be recalled that the Lagos State Government had sealed off 22 buildings in the Banana Island and Ikoyi axis of the state over lack of building permits and conformity issues.

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