Left Menu
Development News Edition

Nigeria: Over 1,094 houses built under National Housing Project, says Fashola

Devdiscourse News Desk | Abuja | Updated: 13-03-2020 16:15 IST | Created: 13-03-2020 16:15 IST
Nigeria: Over 1,094 houses built under National Housing Project, says Fashola
File photo Image Credit: Twitter (@tundefashola)

Nigerian Minister of Works and Housing, Babatunde Fashola said that over 1,094, housing units have been completed under the National Housing Project from the 2019 budget, according to a news report by Vanguard.

Fashola said this statement during an oversight visit to the ministry by the Senate Committee on Housing led by its Chairman, Sen. Sam Egwu, on Thursday in Abuja.

The purpose of the visit for Fashola was to present a summary of how the 2019 budget allocated to the housing sector was utilized.

The minister said that out of the N83.661 billion budget presented to the Federal Government, only N33.4 billion was released to the Ministry of Works and Housing, which is only 39 percent financial support from the government to the housing sector.

Fashola said, "Our two main parastatals are the Federal Mortgage Bank of Nigeria (FMBN) whose responsibility is to grow primary mortgage funding and manage the national housing fund."

"This was created by the act of parliament and its purpose is to provide the financial support for the purpose of achieving affordable housing objectives of the government," he added.

According to Fashola, two states, Lagos and Rivers are not building because of land issues.

According to him, the ministry has inaugurated a cooperative housing policy in association with the Federal Mortgage Bank of Nigeria (FMBN).

He told that this policy will enable citizens to get low-interest loans from FMBN and encouraged Nigerians to build for themselves instead of waiting for government.

Download The Devdiscourse News App for Latest News.



Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Public health care post-COVID 19 to go for revamping, not rebooting

Until now, the economies used to classify healthcare sector under social expenditure. However, the devastation caused by COVID 19 pandemic has upgraded public healthcare on topmost priority and core economic activity for controlling future ...

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....


Latest News

Ukraine opens up land market in bid for $8 bln IMF package

Ukrainian lawmakers voted on Tuesday to lift a ban on the sale of farmland that has stood for nearly two decades, clearing one of the hurdles needed to unlock an 8 billion loan package from the International Monetary Fund. President Volodym...

Trump says coronavirus guidelines may get tougher; 1 million Americans tested

U.S. President Donald Trump said on Monday that federal social distancing guidelines might be toughened and travel restrictions with China and Europe would stay in place as he urged Americans to help fight the coronavirus with tough measure...

New Zealand extends state of emergency to stop spread of COVID-19

New Zealand is extending the state of national emergency for a further seven days to help stop the spread of COVID-19, the Minister of Civil Defence Peeni Henare said in a statement.The initial declaration on March 25 lasted seven days and ...

Airbnb to pay out $250 mln to hosts to help ease coronavirus cancellation pain

U.S. home rental firm Airbnb said on Monday it was allocating 250 million to help offset losses by hosts around the world whose guests have canceled bookings in the face of the coronavirus pandemic. The aid, which will pay hosts 25 of their...

Give Feedback