Nigeria: Mortgage Bank plans affordable houses
The
Federal Mortgage Bank says it has embarked on the provision of
affordable houses for the average Nigerian.
Managing Director of the bank, Mr. Moses Atagher, said
Abuja
that the houses were in one-bed room, two-bed room and three-bed
room categories.
He said that the three-bedroom houses were valued at N5 million,
did not state the cost of the other categories.
Mr. Atagher was speaking at the end of the second Emerging Urban
Africa International Conference. He explained that different
categories of workers would benefit from the project.”
“We have worked in settlements within and outside the FCT and are
now extending the facility to the rural areas.”
Atagher said the federal, state and local governments had given
support to the project while the bank had put in place incentives
to attract more investors.
”The programme is timely and appropriate and will bring a lasting
solution to the accommodation needs of the underprivileged,'' he
added.
Mr. Joseph Yakwar, a participant in the conference, said what
remains is for the bank to educate the people more on the project
as well as make funds available for its realisation.
”Most people don't have knowledge of the facility. Government also
needs to provide basic infrastructure,'' he said.
Mr. Bankat Clement, another participant said that the major
problem facing such projects was their implementation and funding.
”The only lasting solution is for the building materials to be
produced locally thereby reducing cost and making them accessible
to the poor,'' he said.
NAN/YINKA
