Housing Development Tool For Poverty Alleviation, Says Osinbajo, Counsels States, LGAs on C-of-O Issuance

The administration of President Muhammadu Buhari has identified housing development as a veritable tool to eradicate poverty among Nigerians.

This was revealed by the Vice President, Prof. Yemi Osinbajo who was represented by the Minister of State for Works and Housing, Engr. Abubakar Aliyu, while declaring open this year’s National House Fair 4.0 at the International Conference Centre, Abuja.

Acknowledging the aptness of this year’s theme, “Gateway to Better Life: Affordable Housing Solutions,” to Nigeria’s housing journey, the Vice President disclosed that, “President Muhammadu Buhari is determined to uplift 100 million Nigerians from poverty in the next 10 years and housing has been identified as a major tool for its realization due to its multiplier effect.”

Prof. Osinbanjo noted that in line with the Federal Government Sustainability Plan, the Central Bank of Nigeria has approved the sum of N200 billion for 300,000 households to enable Family Homes Funds Limited (FHFL) finance the construction of social housing units for low-income earners.

The Director Press and Public Relations in the Federal Ministry of Works and Housing, Boade Akinola in a statement noted that in addition, the Vice President disclosed that the Federal Ministry of Works and Housing had unveiled a programme titled “Affordable Housing Development and Management Initiative” (AHDMI).

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According to Prof. Osinbajo, the programme was designed for the purpose of reducing the housing deficit through collaboration with public and private entities by creating a robust housing management of public buildings, hostel accommodation, redeployment of unoccupied houses for either rental or rent-to-own initiative, urban renewal/regeneration, and community upgrading.

The Vice President further revealed that the pilot project of the Affordable Housing Development and Management Initiative (AHDMI) would commence in October, 2020 in Gwagwalada with the construction of 2, 500 mixed housing units under the Public- Private Partnership (involving Family Housing Funds Limited, Federal Mortgage Bank of Nigeria, and private developers.

Reminding the States and Local Governments that they are the custodians of Land in the country due to the Land Use Act, he appealed to state governments to reduce the bottlenecks associated with the issuance of Certificate of Occupancy (C-of-O) and quicken same because government has identified it as a tool for stimulating the economy.

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“As a Government, we have identified “Land Titling” as a rapid tool for economic development as it creates basis for land taxation, access to credit, increased market value and investment stimulation amongst others.

“I therefore wish to appeal to the State Governments to ease-up and quicken the process of the issuance of Certificate–of–Occupancy (C-of-O) and other title documents as this is a sure way of stimulating economic activities and improve the lives of the citizenry and lift them out of poverty”, Prof. Osinbajo counselled.

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, in his remarks called on the Federal Government to make policies that would enhance the provision of affordable housing for Nigerians, noting that national development could only be possible when basic needs are given to humanity.

Oba Ogunwusi enjoined traditional rulers in the country to work very closely with government and the private sector in the development and provision of affordable housing for the citizenry, adding that by their status they are natural custodians of land and therefore relevant in the development of their communities through the provision of affordable housing for their citizens.

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The event was organised by Bstan Group. It is a group of companies headed by Engr. Becky Olubukola.

Bstan group has various departments of housing development which includes: construction, mortgage and cooperatives as well as homes and properties.

The House Fair has become a yearly event since 2017.


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