The Ministry of Works and Housing has received 7,315 applications for its National Housing Programme despite the high price fixed for the houses.
The Minister of Works, Babatunde Fashola, made the disclosure while speaking before the Senate Committee on Housing.
The 7,315 applications were received less than a week after the launch of the online portal on Friday November 12.
He said, “As of today, 7,315 applications have been received so far and the number is still growing.
“There are 1,2,3 bedrooms, some of which are bungalows, while others are flats. The minimum house is N7.2m and the highest is about N16m.”
THE WHISTLER had reported that the price of the buildings ranges from N7,222,404, N9,268,752, N13,241,074 and N16,491,155.8 across the country.
If the buyer is settling for the cheapest units, which is N7.22m one bedroom flat, a down payment of N2,166,721.19 is expected to be paid.
The N2.16m down payment is an equivalent of over six years’ salary of a minimum wage earner, while outright purchase of the N7.22m one bedroom apartment will require 20 years’ salary of the civil servants on N30,000 minimum wage.
source: thewhistler.ng
