Osinbajo: N1trillion for housing

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Vice President Osinbajo
Vice President Osinbajo: N1 trillion to be spent on housing

By Cecilia Ologunagba

To  provide affordable housing for Nigerians, Nigeria  is working with stakeholders to raise one trillion Naira, Vice President Yemi Osinbanjo said on Tuesday.

The vice president stated this   at the 22nd Nigerian Economic Summit (NES) in Abuja.

Osinbanjo made the disclosure  when he chaired a Roundtable on Job Creation, Skills and Employment at the summit.

He said that the proposed project would also help to   create jobs.

Osinbajo said that the job creation unit in his office had worked out a framework with the  Nigerian Economic Summit Group (NESG) to focus on three sectors to create employment.

He listed the three sectors as Construction, Agriculture and Information Communication Technology (ICT).

Under Construction, the Vice President said the Federal Government was trying to work on the social housing programme called the Family Home Fund.

“The Family Home Fund is a financial intervention into social housing in the country.

“We are trying to raise a fund which will come to about one trillion Naira; we have aggregated fund from the private sector, local and international funds already.

“The whole idea is to be able to intervene in mortgage financing so that developers can build special houses to the specification of the Federal Government.

“Already eight or nine states have given land and certificate of occupancy for social housing scheme.

“The idea is that any Nigerian who can afford N30,000 should be able to own a house,’’ he said.

Osinbajo said that there would emerge  job creation opportunities as technicians, engineers and skilled workers would benefit from the scheme.

He said there would also be training opportunity from the scheme.

The theme of NES is “Made-in-Nigeria’’

NESG was incorporated in 1996 as a non-profit private sector organisation with a mandate to promote and champion the reform of Nigerian economy into an open, private sector-led globally competitive economy. (

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