You can own a house with just N30,000

chika ebuzor

May 30, 2017 8:30 AM

Osinbajo said this at an event organised in Abuja to commemorate the second anniversary of Buhari's administration.

Prof. Yemi Osinbajo

Acting President Yemi Osinbajo has said that the Federal Government, through its N100 billion social housing scheme, will make it easy for Nigerians who can afford N30,000 to own a home.

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%.

“The same fund will enable us to provide inexpensive mortgages for hundreds of thousands across the country who want to own homes.

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“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.”

The Acting President, during his Democracy Day speech, told Nigerians that there is light at the end of the tunnel.

chika ebuzor