Nigerians can now own houses with N30,000 - Yemi Osinbajo


Acting president, Yemi Osibanjo has revealed
that under the N100 billion social housing
scheme of the present administration anyone
who can afford N30,000 will be able to own a
house.

This he made known while speaking at the
Banquet Hall of the Presidential Villa in Abuja
on Monday May 29th at an event tagged "A
Smile for Every Nigerian" organised to
commemorate the administration's second
anniversary.

He said; "This is 100bn set aside for the Family
Home Fund our Social Housing Project. The
100b is a yearly contribution to our N1trn
Social Housing Fund, the largest in the history
of the country. The World Bank and the African
Development Bank are contributors to the
Fund. From this Fund, developers will borrow
80% of the cost of project and counter fund
with their own 20%.

Speaking further he said; "The same fund will
enable us to provide inexpensive mortgages for
hundreds of thousands across the country who
want to own homes. Anyone who can afford
N30,000 will be able to buy a home under our
new social housing fund scheme. Already, the
project has started in 11 states. We expect that
this family housing fund will jump start and
expand construction exponentially across the
country."



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