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Nigerian govt sets up National Housing Bond to address deficit



In order to tackle the challenge of housing among Nigerians, the Federal Government has announced the institution of a National Housing Bond.

This was contained in a statement issued on Tuesday by the Minister of Works and Housing, Mr Babatunde Fashola, during a tour of the Federal Housing Authority and Cosgrove’s Estates.

According to Fashola, the project would help developers provide houses for all categories of Nigerians.

The Minister further disclosed that private partnership is needed in order to actualise the plans of the FG towards affordable housing for Nigerians.

Read also: Figures on Nigeria’s housing situation incorrect, Fashola insists

“There is Cosgrove Estate in Mabushi which is purely private sector driven; the one at Guzape is in partnership with government (Federal Housing Authority)ENL Consortium and Bauhaus International Limited. The one in Zuba is government-driven.

“We will be working to create a National Housing Bond that housing developers can access at a very reasonable rate. That is something I will be engaging my colleague, the Minister of Finance.

“And hopefully, she would be able to engage the Governor of Central Bank of Nigeria who controls our monetary policies. This is because fiscal and monetary policies can help the sector.

“This tour to estates at Mabushi, Guzape and Zuba is to show you that a lot of things are going on in the housing economy of the country,” Fashola said.

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