About 24 states have contributed over two thousand hectares of land with titled documents to the Federal Government’s Social Housing programme, while 17 have indicated interest to participate in the Solar Power programme in the ongoing Economic Sustainability Plan.
Mr. Femi Adewole, Managing Director/CEO, Family Homes Fund Limited (FHFL) – the implementing agency for the Social Housing scheme, disclosed that 17,584 units across 16 locations are now on the pipeline.
He said: “We are having a successful push in assembling land to feed the housing construction. So far about 2156.4ha have been assembled ready for development. This has the capacity to accommodate about 65,000 homes.”
According to the presentation made by the Managing Director of the Rural Electrification Agency (REA), Alhaji Ahmad Salihijo, the Solar Power Naija team has had engagements with the six states who have identified private sector developers.
The team has also selected Akwa Ibom, Ekiti and Kano as pilot states for the state-guaranteed transaction model for the solar power programme.
He explained that REA is currently tracking transactions worth N55 billion potentially contributing the first two million connections in Nigeria and providing thousands of jobs.
For instance, the programme is currently tracking four transactions in the commercial bank upstream channel contributing 3,500 jobs and 100,000 connections.
Adewole explained that under the ESP Social Housing programme, Nigerians would be given at least a 15-year period with a monthly payment at six percent interest rate to pay for each housing unit.
“This will help to improve access to housing for low-income people in the informal sector who-(otherwise) will not have an opportunity to access a mortgage,” he stated.