The Federal Government is collaborating with industry stakeholders to raise N1trillion to provide affordable housing for Nigerians, Vice President Yemi Osinbajo revealed on Tuesday, October 11, in Abuja at the ongoing 22nd Nigerian Economic Summit.
Osinbajo, who chaired a Roundtable on Job Creation, Skills and Employment at the second day of the summit, said the proposed project would also help to create thousands of jobs.
The VP said that the job creation unit in his office had worked out a framework with the Nigerian Economic Summit Group, NESG, to focus on three sectors to create employment.
He said the three sectors are construction, agriculture and information communication technology (ICT).
Under construction, he said the Federal Government was trying to work on a social housing programme, called the Family Home Fund.
“The Family Home Fund is a financial intervention into social housing in the country. We are trying to raise a fund which will come to about one trillion naira; we have aggregated fund from the private sector, local and international funds already.”
The whole idea is to be able to intervene in mortgage financing so that developers can build special houses to the specification of the Federal Government. Already, eight or nine states are giving land and certificate of occupancy for social housing scheme. The idea is that any Nigerian who can afford N30,000 should be able to own a house,’’ Osinbajo said.
He added that technicians, engineers and artisans would benefit from the scheme and many more indirect jobs would be created.