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Vibrant housing market will boost Nigeria’s economy, citizen’s livelihood, Osinbajo says

Vice President Yemi Osinbajo has said that many households are faced with a dilemma of survival between food and inadequate shelter.

Osinbajo said this on Friday in Masaka, Nasarawa State at the commissioning of 248 housing units and commemoration of the 1,000th home built by the Millard Fuller Foundation (MFF).

Osinbajo said the government aim to address inadequate housing in the country and that the President Muhammadu Buhari administration remains determined to build a nation where low-income earners have the dignity of a decent home and livelihood.

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He described the commissioning as a watershed event in the important work of providing housing for Nigerians who need it most.

Osinbajo said, “While the challenge of inadequate or no-housing undermines the quality of life of many Nigerians on low income, it also denies our economy and, therefore, our collective welfare the growth that is possible through a vibrant housing market.”

The Vice President emphasized that the Buhari Administration is taking the challenges seriously by addressing the concerns.

The most recent initiative regarding this is the N200bn National Social Housing Programme under the N2.3trn Economic Sustainability Plan (ESP), which is aimed at delivering homes for Nigerians on low income, as well as providing jobs for the local industry.

The Vice President also said that under the ESP Social Housing programme, which will create up to 300,000 homes, 18 States have so far given land for free, while 19,478 homes have been built, including 582 purchased from the MFF.

He said, “We are negotiating another 400 homes with them,” Prof. Osinbajo stated, adding that “the one-bedroom self-contained costs N2 million and N3.2 million for the two-bedroom. We negotiated with Dangote, BUA and Lafarge to give the Family Homes Fund cement at 30 percent discount. So, we now have low-cost cement.”

Osinbajo, who was received in Masaka, Nasarawa State by Governor Abdullahi Sule, later inspected the affordable housing units built by the foundation.

Also speaking at the event, Governor Sule thanked the Vice President for finding the time to commission the project and “to share in the joy of the beneficiaries, especially those of the Fuller Foundation,” describing the gesture as a demonstration of the Vice President’s care for the people.

The Governor also commended the effort of the Federal Government in finding solutions to the challenge of affordable housing and gave assurances that the State Government is commitment to fixing the access road to the housing estate.

Earlier, Mr Sam Odia, the National Director of the MFF commended the Vice President’s presence to commission the housing units.

He described the VP as a “man of his word, and a man who has a heart for the poor.”

He added that the foundation is working with the Family Homes Fund to advance the cause of social housing in Nigeria. Also, Chairman, Board of Directors of the Millard Fuller Foundation, Pastor. Solomon Yero, said: “We are working hard to improve invisibility of the affordable housing market. While it took us almost 10 years to build our first 100 units with grant funding, it took us only another five years to build 1000. With a combination of grants and loans in the next five years.

The Millard Fuller Foundation was founded in 2006 and has been working on more inclusive housing for low-income Nigerians.

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