Homes affordability: FHA guarantees free lands, utilities

He said that  this will serve as  distinction between prices of homes delivered by the FHA and those delivered by private developers who are ever desirous to make profit from land and variables in housing.
“While we won’t prevent private developers from selling their homes with profit on cost of land and utilities, FHA will not consider the cost of land and infrastructure on estates built by it, as a way to ensure reduction in price of homes, toward affordability by Nigerians,” he said.
He said a tripartite partnership is in progress between the FHA, the Bureau for Public Enterprises BPE and the Federal Ministry of Lands, Housing and Urban Development towards maximizing the gains of the restructuring and commercialization. “When the homes are ready, we will involve not just government agencies but also the private sector, so private and public companies would be encouraged to participate in the new commercialization structure by investing resources into FHA’s new projects.
He said the Authority FHA will begin to locate houses where it matters. “We will consider the indigent Nigerians who cannot afford homes built in highbrow areas, and so we will locate projects in locations that will enable them afford the homes,” he said adding that FHA’s new housing projects will be located where it will be marketable in the interest of low income earners. “If we locate commercial houses in places where people cannot afford them is a misplacement of priority,” he said.
Discussing the gains which commercialisation will deliver to Nigerians, Al Amin said: “When completed, commercialization of the FHA will deliver two kinds of products, namely, highly furnished, tasty, elite type of houses located in high brow locations intended for high income earners; adding that it will also deliver “very affordable, decent, well structured homes located where low income earners would be able to afford them, as well as enjoy FHA’s mortgage facilities.
According to him, another gain of commercialisation is that FHA would be able to remit profits from the business such that government’s internally generated revenue will increase as expected, adding that it will create jobs.