FG opens bid for Nigerians to own houses that take 19 years’ savings to buy
The Federal Government is set to commence the sale of houses under the National Mass Housing Programme.
The Minister of Works and Housing, Babatunde fashola on Friday, unveiled an online portal for the housing scheme in Abuja.
The houses are available for sale from N7.2 million upward.
In his address, the minister noted that this is the first time Nigeria would provide a platform that is accessible to all citizens.
He said: “This provides an opportunity for all Nigerians to apply and ensure a fair process of allocation.”
While the Nigerian government’s effort is a significant boost to the country’s housing challenges, however, many citizens will have to wait for another 19 years to participate in the process.
For a Nigerian on a minimum wage of N30,000, it requires 19 years of full savings to have a chance to buy one of the cheapest houses available for sale in the scheme
Fashola added: “There are over 5,000 units of houses are at different stages of completion under the program. We have opened the portal to give Nigerians a fair chance of becoming landlords.
“The projects are spread across the states of the federation and the Federal Capital Territory. The highest selling price is N16.19 million.”
On the adoption of the online process, the minister stated: “It is just to make the system more accountable and people seeing credibility if they win and if they are not successful they will equally know that the system has at least given them a fair chance.
“We converge here just to introduce a portal on which the National Housing Programme pilot will be offered for sale to the public. What that means is that we will not be selling printed forms, the forms are online and this allows for more openness, limits human intervention and any disposition to any underhand practice.”
Source: Ripplesnigeria
Similar Topics
Event Set to Celebrate Managers Who Shape Careers and Drive Organizational Growth Business...
6 days ago Read More
Global Leaders to Converge in Lagos for Landmark Event Driving Urban Innovation and...
7 days ago Read MoreIn a bold move to redefine affordable luxury housing, Nigerian real estate giant Gtext Holdings has...
15 days ago Read MoreIndustry Experts Urge Anti-Corruption Measures, Innovative Financing to Address Crisis By: Oche...
20 days ago Read MoreLAGOS, NIGERIA – Global real estate consultancy Knight Frank and UK developer Mount Anvil...
22 days ago Read More
By Oche Onum Lagos, Nigeria As Nigeria’s real estate sector braces for 2025, rapid...
26 days ago Read More
By Oche Onum Abuja, Nigeria In a landmark move to combat climate vulnerabilities in urban...
a month ago Read More
LAGOS, NIGERIA The Federal Government announced plans Wednesday to establish a Real Estate...
a month ago Read More
According to The Guardian's investigation, 70% of Nigerian states rely on manual land...
a month ago Read More
What is the Initiative? The Federal Government of Nigeria has unveiled an N100 billion private...
a month ago Read More
Abuja, Nigeria’s gleaming administrative capital, has long symbolized hope for migrants...
a month ago Read More
Abuja, Nigeria The Federal Housing Authority (FHA) has suspended all ongoing construction projects...
a month ago Read More
Lagos, Nigeria Amid Nigeria’s escalating housing affordability crisis, real estate...
a month ago Read More
Renowned Nigerian gospel artist Mercy Chinwo has broken her silence in an emotional video...
a month ago Read More
The Nigerian real estate market is projected to hit $2.25 trillion by the end of 2025, according to...
a month ago Read More
Nigeria’s Minister of Housing and Urban Development, Ahmed Dangiwa, has called on...
a month ago Read More
Affordable Housing and Luxury Properties Set to Propel Nigeria's Real Estate Market Over the Next...
2 months ago Read More
Hope for improved housing supply in Nigeria may remain unfulfilled, as the 2025 fiscal budget...
2 months ago Read More
Nigeria commemorated its annual Armed Forces Remembrance Day on January 15, honoring military...
2 months ago Read More
Nigeria’s ongoing GDP and CPI rebasing reveal real estate has overtaken oil and gas as the...
2 months ago Read More