FG, BASAP ventures sign Mou on N300 Billion Housing Scheme

In its bid to encourage the private sector to assist in reducing the nation’s huge housing deficit, the Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with BASAP Ventures International Limited/JS Neoplans and Artemis Angel Global Limited.

The agreement will usher in a total of 15,000 low cost housing units which is expected to cost $1.5 billion or N300 billion. The project will be completed within the next 12 months.

Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, who signed on behalf of Government said that the MoU marks another milestone in the present administration’s resolve to provide affordable and sustainable homes for the masses in a safe and secured environment.

She further explained that the construction of the 15,000 highly affordable low-income houses is aimed at deepening and fulfilling President Goodluck Jonathan’s promise to positively impact on the lives of Nigerians, especially through mass production of affordable houses.

The minister observed that as part of the measures to address the housing shortage and the prevalence of inadequate housing for the majority of Nigerians, the housing sector is being revitalized through the development of new policy frameworks and long term action plans, adding that Government has stepped up efforts in partnering with the private sector and other key stakeholders to address the acute housing shortage in the country within the shortest possible time.

Chairman, BASAP Group, Samson Ayorinde, who assured that the firm would mobilize to site immediately, noted that the access road to the project site is limited and requested that the Federal Ministry of Works should assist to create an alternative access road to link the Lokoja road in order to make the project viable.