FG To Unveil Dedicated Portal for Sale of Houses to Nigerians


Minister of Works and Housing, Babatunde Fashola, has announced that it plans to launch a dedicated web portal for the sale of buildings to Nigerians in the next few weeks.

Fashola, who spoke at the ninth meeting of the National Council on Lands, Housing and Urban Development in Jos, Plateau State, stated that the platform would enable contributors to the National Housing Fund (NHF) access mortgage loans on a first come, first serve basis.

Fashola, who was represented by the Minister of State for Works and Housing, Abubakar Aliyu, said the ministry is currently at the completion stages of the first phase of the national housing programme in 34 states of the federation, which provided land for it.

“We urge the state governments to alert their residents to this opportunity for interested persons to apply,” he said.

Fashola told the Council to consider cooperative housing as part of their discourse and recommendations for affordability and accessibility to housing in the country.

He commended Federal Mortgage Bank of Nigeria (FMBN) for driving the cooperative housing initiative at the federal level, adding that it is advantageous because cooperative members can choose what they design and build to fit their budgets.

He said that they can leverage their members to get group discount for purchase of building materials as well as engagement of contractors.

Stanbic IBTC Pension Managers

Fashola disclosed that FMBN as the driver of the housing initiative has engaged 86 co-operatives in projects; approved N35, 784 billion cumulatively, disbursed N10.95 billion; processed as at January 57 co-operative housing development loans.

The minister urged private developers and individuals, who build houses for commercial gains, to ease off the cost, which they control to enable Nigerians afford homes in this COVID-19 era.

“My recommendation for improving access and affordability to housing in the Covid-19 era is for private companies and individuals to give back some of what they control to citizens in the way the Federal Government has given back to citizens some of what it controls,” he said.

He explained, for example in cases where rent of businesses or individuals are due for renewal, the private landlords can give back, by accepting monthly, quarterly or half- yearly rent instead of one year, two or three years rent in advance.

Fashola noted that the Federal and state governments have limited parts to play in the area of provision of affordable housing to Nigerians because houses for sale and rent are mostly built by individuals and private companies compared to that of the Federal Government.

Stanbic IBTC Pension Managers


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.