Nigeria’s Minister for Works and Housing, Babatunde Fashola has flagged off the North-East National Cooperative Housing Development Scheme which aims at encouraging people to form groups, acquire land and build for themselves houses of their choice.
According to the Minister, the idea of the housing cooperatives was for buyers to determine houses that meet their expectations; remove the middlemen contractors and make houses more affordable to low and middle-income earners.
Mr. Fashola stated that many jobs are being created and wealth redistributed through housing contracts, pointing out that food vendors, artisans, and labourers, are engaged and earn income working at the housing project sites.
The Minister while urging people to establish housing cooperatives reiterated the commitment of President Muhammadu Buhari led administration to deliver affordable houses to Nigerians and complete all inherited projects from previous administrations across the country.
Earlier, the Minister inaugurated the Gombe State Investment Housing Estate financed by the Federal Mortgage Bank of Nigeria.
The project which was conceived as a result of the partnership between Federal Mortgage Bank of Nigeria and Gombe State Investment and Property Development Limited was executed under the Federal Mortgage Bank of Nigeria Estate Development Loan Window.
He commended the vision of Gombe State Investment Limited for conceiving the plan for the estate and going into partnership with the Federal Mortgage Bank of Nigeria.
In his address, Gombe State Governor, Muhammadu Inuwa Yahaya commended the commitment of the government in providing shelter to Nigerians.
He explained that providing shelter is one of the responsibilities of any government that has concern for its citizens.
Also, the MD/CEO of Federal Mortgage Bank of Nigeria, Arch. Ahmed Dangiwa, applauded the government for encouraging the Mortgage Bank to collaborate with state governments in providing houses through cooperative societies.
He explained that the estate was delivered through the partnership between the Federal Mortgage Bank of Nigeria and Gombe State Investment Limited.
A total number of 150 houses completed out of the 311 conceived for the housing estate were inaugurated. This comprises 82 units detached two-bedroom bungalows and 68 units of 3 bedroom detached bungalows.
The selling price is N6.3 million for the 2-bedrooms and N7.5 million for the 3-bedroom apartments.