The FG national social housing program has received a boost with endorsement and support from the president Association of housing corporations of Nigeria Dr Victor .C. Onukwugha.
Speaking with Africa Housing News in Abuja on Wednesday, the president commended the Federal Government and said the project is capable of succeeding with adequate funding.
The AHCN is an umbrella body of the state government-owned housing agencies in the 36 states of the country. Speaking further, the president said for the project to be attainable and sustainable, there would have to be an adequate finance flow in place.
He opined that the government would, asides creating adequate finance, need to also create an enabling environment that can, on its own, create funds. “If the Federal Government can work with the Central Bank of Nigeria, commercial and mortgage banks, to make construction loans available at single-digit interest rates for long terms in addition to the Federal Government and State Government providing land for housing delivery, then sustainable housing delivery can be achieved”, he said.
He said there would need to be a collaboration between the Federal Governments and the State governments as most state governments are lukewarm about housing delivery.
Dr Onukwugha, however, said the AHCN has already selected six of its member bodies from different geo political zones to drive the pilot scheme of building 300,000 homes and have signed a Memorandum of Understanding with Family Homes Funds .
