Nigeria Asks African Governments To Focus On Creating Housing Opportunities

Kaduna Housing SchemeThe Federal Government has advised heads of African governments to reduce the discuss on housing deficit in the continent and rather focus more on housing opportunities regardless of the issues facing the sector.

The demand was made at the 32nd Annual Conference of the African Union for Housing Finance, which attracted participants from across Africa.

It was aimed at finding solutions to Africa’s housing problems and stimulating the continent’s economy.

Delivering her keynote address at the conference, in Abuja, Nigeria’s capital. the head of Public Private Partnership Directorate Of The Federal Ministry Of Housing, Mrs Eucheria Alozie stressed the need for African governments to address many years of inadequate investment and poor maintenance culture.

These according to her, have left the continent with a significant housing deficit.

Lack Of Housing Finance

She identified the lack of housing finance in the public and private sectors, and double digit housing loans, as major factors that must be addressed for Africans to access affordable housing.

According to reports by the African Union for Housing Finance, Nigeria is said to have an estimated deficit record of 17 million housing units while Africa’s need for affordable housing is 400 million units.

It was for this reason that the union convened its Annual Conference in Nigeria and Mrs Eucheria Alozie has advised heads of African governments to tackle the challenge head-on.

Although there is no ‘one-size-fits-all’ solution to the continent’s affordable housing crisis, a board member of the African Union for Housing Finance, Professor Charles Inyangete, expressed concerns about the challenge of affordable housing.

The director of other financial institutions of the Central Bank of Nigeria, Dr Ahmed Abdullahi, however informed participants of the opportunities in the housing sector.

AFDB Injects $8.2m Into Shelter Afrique

shelter afriqueThe Africa Development Bank (AFDB) has injected 8.2 million dollars in pan-African finance institution, Shelter Afrique.

In a statement, the bank says the injection aims to strenghten its balance sheet and aid the realisation of affordable housing in Africa.

It further highlighted that Africa’s economic landscape and its promising scope for growth are some of the factors driving the increased demand for affordable houses.

With the fund, the AFDB expects Shelter Afrique to help meet the continent’s growing population housing demands.

Shelter Africa is recognised for its exclusive supports in the development of housing in the continent.

Kano Governor To Provide Affordable Housing, Others

GandujeKano State Governor, Abdullahi Ganduje, has reaffirmed his administration’s commitment to providing affordable housing, compulsory primary education and improved health care, as part of plans to transform the state.

To achieve these objectives, the Governor has tasked all political office holders and top government functionaries to shun corrupt practices and work closely with each other on the best means of accomplishing government polices, programmes and projects that would impact positively on the lives of people of the state.

Governor Ganduje gave the advice in Kaduna on Friday during a retreat for political office holders, top government functionaries and directors in the State Civil Service, organised by the office of the Kano State Head of Service.

According to the governor, his administration has embarked on various reforms that are aimed at reducing the cost of governance such as cutting down the number of ministries, departments and agencies for effective and efficient performance.

In his speech, the state Head of Service, Muhammad Naiya, said the retreat would afford participants the opportunity to understand the policy direction of the Ganduje’s administration and the need for all hands to be on deck for the successful achievement of its polices and programmes.

The retreat also availed participants the opportunity to understand the best practice in relation to the management of public resources, in order to achieve good governance for the people.

During the discussions, participants will examine the critical factors militating against the smooth implementation of government policies and programmes, coming up with solutions that will ensure a viable and sustainable socioeconomic development of the state.

FG Launches 10,000 Affordable Housing Mortgage Scheme

iweala 1The Federal Government has launched the 10,000 Affordable Housing Mortgage Scheme as part of its efforts for bridging the housing deficit in the country.

It is expected to alleviate the constraints to a rapid housing development in the country.

The Minister of Finance Dr. Ngozi Okonjo-Iweala, who launched the programme on Thursday in Abuja, said that it was an actualization of President Goodluck Jonathan’s promise of delivering affordable housing before the end of the year.

According to her, the launch kicks off the pre-qualification of people for the first initial 10,000 mortgages to be provided by lenders.

“We’ve tried to aim this scheme primarily at the first time home buyer who is in the market to purchase a home costing between 2 million and 20 million Naira. So, we tried to keep it low to address our first time buyers and above all, our young people.

“There will be a step by step presentation as to how the scheme works but essentially, what we’ve done is develop an online portal specially for this scheme; www.housingfinance.gov.ng and you need to access this online portal.

“You will be asked to go through a checklist or eligibility requirements when you access this portal, and for verification to make sure that you’ve been paying your taxes, you earn a regular income and you’re a first time home buyer.

“Once you’ve ascertained that you do meet the eligibility requirements when you log on, you will be led to complete a very simple form. I’ve gone through the form myself and the Minister of Housing, to make sure its not too complicated. It just requests your personal details.

“When you’ve completed the form and read the terms and conditions for participation, you’ll be asked to submit the form. Upon submission you’ll be able to print out a copy of the completed form or you can direct the completed form online to a mortgage lender of your choice for further processing for pre-qualification”, she explained.

The mortgage scheme is a public-private partnership which would help to deepen Nigerian Mortgage Market and make housing more affordable.