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Solving The Problem Of Affordable Housing In Nigeria

FG signs MoU with BASAP to create 15,000 affordable housing units

Improving on efforts to deliver more affordable housing units and reducing the housing deficit in the country, the Federal Government of Nigeria has taken a giant step by collaborating with an estate development agency.

The Federal Government of Nigeria and BASAP Ventures International Limited/ JS Neoplans & Artemis Angel Global Limited on Tuesday signed a Memorandum of Understanding for the construction of 15,000 highly affordable housing units across the country within 12 months.

Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, who signed the MoU, said the decision was taken towards deepening and fulfilling President Goodluck Jonathan’s promise to positively impact and transform the country in all aspects of life, especially through mass production of affordable houses for the citizenry.

She said that the event was in consolidation of government’s effort in identifying and partnering with different operators in the housing sector, particularly between real estate developers, building materials producers, investors in real estate business and the different tiers of government, with a view to maximising inputs and outcomes in the delivery of housing.

According to her, “I wish to emphasise that the Federal Ministry of Lands, Housing and Urban Development will continue to collaborate with key actors and operators in the housing sector to reposition the sector for improved and efficient housing delivery to the majority of Nigerians, especially the low income earners.”

Eyakenyi called on investors and developers across the country, who are willing to partner with the government to come up and join them in providing adequate and affordable housing to the citizenry.

“We have also stepped up our efforts in partnering with the private sector, investors and other stakeholders in the housing and urban development sector in order to ensure that we all work together to achieve the desire goal” she said.

Chairman of BASAP Ventures Limited, Dr. Samson Ayorinde said that they were ready to work with the Ministry towards achieving the same goal of providing affordable housing to Nigerians

Ayorinde, who assured that they were set to move to the site this week to commence the work.

He promised that the company will work effectively to achieve the desired goals, urging government to construct road to the site for easy access to enable them deliver as agreed.

He said, “We are calling on the Ministry to discuss with the Ministry of Work in creating road to the site in order to make our work viable. So we seek the cooperation of the Ministry in this regard.

“We are investing $1.5 billion. Our investors are ready to put in $1.5 billion into the transaction.”

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