Minster of Works and Housing Babatunde Fashola has Inaugurated a 150 housing estate project which is part of the Federal Government Mass Housing Strategy to mitigate the housing deficit challenges in the country.
The Scheme is jointly funded by the Federal Mortgage Bank, developed by I-connect local developer, which is part of the 404 housing that has been completed
Nigeria has an estimated over 20 millon housing deficit, according to the Federal Mortgage Bank.
Million of Nigerians have no proper shelter, with many living in shanties, not conducive for human habitation.
The Federal Mortgage Bank through the federal Government is undertaking mass housing projects to ameliorate the people’s sufferings.
In Enugu, minster of Works and Housing is here to Inaugurate 150 out of 404 completed rent and own housing project.
According to the minister, the 9 projects estimated at 1,520 housing units in Enugu, are being replicated in 35 states to address the extreme housing deficit condition in the country.
Managing Director of Federal Montage Bank of Nigeria emphasizes the essence of the partnership with local developers which they have committed about 10.2 billion naira to deliver 1,520 housing in Enugu State.
The state Governor who provided the access roads and two other housing units, extolled FMBN on the project.
Beneficiaries are elated to benefit from the 150 rent and own housing units
According to FMBN, the project recorded about 5000 direct and indirect jobs at the rate of 20 jobs per housing unit over the construction period.
REMARKS OF H.E BABATUNDE RAJI FASHOLA SAN AT THE COMMISSIONING OF FMBN-I-CONNECT COOPERATIVE HOUSING ESTATE, TRANSEKULU, ENUGU , ENUGU STATE ON TUESDAY 16THMAY 2023
Distinguished Ladies and Gentlemen:
One Hundred and Fifty Units of Housing only symbolize our Government’s very deep footprint in Housing Provision in Enugu State.
These 150 Units are part of a 404 Housing Unit Provision in Enugu State all of which have been completed.
The 404 Units represent yet another part of a larger number 1,520 units in 9 projects all of which have been completed except 3 projects.
This is part of the multi-pronged response of our Government to the challenges of multi-dimensional poverty.
A total of 1,520 new home owners in one state of Nigeria deserves attention because it represents change.
This is proof that the determination to lift people out of poverty is real.
No matter the size of the challenge and the number of people involved, a commitment such as this FMBN-I-Connect housing project, that is faithfully implemented, begins to chip away, and replace problems with solutions.
A few days ago, President Muhammadu Buhari personally opened a 748-unit Housing Estate in Zuba, Federal Capital Territory.
In the weeks and months before now, Directors of the FMBN have been doing exactly the same thing in their various estates across Nigeria.
Today on behalf of the Federal Government, the train of prosperity stops in Enugu to create 404 new home owners.
To them I say congratulations and bye-bye to poverty.
But I must tell you that these are not the only beneficiaries.
Surveyors, Architects, Construction companies, their employees, artisans, suppliers, transporters and many more involved in the construction section of the economy have benefitted directly and indirectly.
In all, well over a thousand individuals and seventy different small businesses were involved here.
Indisputably, whether President Buhari meets these people or not, and it is not likely he can meet all of them, his policies, programmes and projects have met them at their point of need.
New policy reforms have also recently been implemented with regard to title documents by digitizing the Federal Lands Registry.
After scanning 50,000 files of over 2.4 million pages, the first set of e-C of Os were presented last week Friday 12th May 2023.
This is another measure of prosperity because land with title has more value than land without.
Furthermore, our processes which used to take between 30-90 days can now be completed in 24 hours if all requirements are provided.
This is also a departure from poverty if you agree that time is money.
Of course, it follows that these title documents will become documents of critical economic inclusion as collateral for access to credit by way of mortgages or other means.
These are indisputably solid building blocks of prosperity against poverty.
A lot has been done and is being done with regard to housing provision by State Governments and the Private Sector.
While that work continues, it is my pleasure to acknowledge what FMBN and their developers have done here and elsewhere and to commission this Estate.
Babatunde Raji Fashola, SAN
Honourable Minister of Works and Housing
Tuesday 16th May 2023
