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Affordable houses

Fashola demystifies mortgage to provide affordable houses

The federal government of Nigerian has pledged to provide affordable houses via mortgage so that people can pay for it throughout their working life.

The Minister of Works, Power and Housing, Babatunde Fashola, who stated this on Wednesday, May 9, 2018, said part of the change agenda of the ruling All Progressive Congress is that “Nigerians would no longer have to buy a house like fish in the market. That is not how it works in other societies.

“The payment period will be spread over a period of time, usually your working life. That is really affordability. Providing affordable houses  is not just about building but also providing access to funding through the Federal Mortgage Bank.”

Fashola stated this in Jigawa State where he is on a supervision tour of federal road and housing projects.

According to the minister, “Workers who are contributing to the National Housing Fund have something now to look forward to. We are going to create a line of supply houses and access to credit and allow you to choose what your income can afford.”

“That is the journey of change President Buhari has been talking about. We will experience something new. The change will not be only in the new houses but also how to pay for the houses in a manner that makes it convenient for you,” he stated.

On electricity, the minister said people were now free to set up independent power generation companies “without necessarily requesting for license.”

He said the federal government is encouraging the private sector to invest in generation and selling of power to the public.

“Any interested individual or company can set up power generation from two megawatts downwards and sell it to the public without requesting for any licence.

“We are encouraging people to set up small power generation and sell it according to their capacity, not necessarily going for big projects that require huge amount of money and expertise”, he said.

Credit: Wetinhappen.com.ng

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