ONE BEDROOM FLAT IS N9.2M UNDER FG'S AFFORDABLE HOUSING SCHEME

FG offers one-bedroom apartment for N9.2m under ‘affordable housing scheme’

AUTHOR:When the federal government launched its National Housing Programme (NHP) and created a portal for the sale of completed houses under the scheme in November, the idea was to address housing deficit in the country and ease the burden of acquiring homes for Nigerians.

It is a programme borne out of the government’s desire to provide affordable housing for its citizenry,” information on the NHP portal reads.

The programme gives the options of mortgage, rent, and outright purchase.

Speaking on November 18 when he appeared before the senate committee on housing, Babatunde Fashola, minister of works and housing, said variation in prices according to states is as a result of the cost of building and topography

The minister also said the cost of the structures range between “N7.2 million and about N16 million, depending on what a person wants.

The NHP portal shows that a one-bedroom bungalow goes for N9,268,751. The price is the same across states where the property type is available.

A two-bedroom bungalow sells for N12,398,460, while that of a three-bedroom costs 16,491,155.

A one-bedroom flat in a condominium available in southern states goes for N7,222,404, two-bedroom apartment costs N9,148,378, while a three-bedroom unit costs N13,241,074.

In May 2020, the National Bureau of Statistics (NBS) released its 2019 report on ‘Poverty and Inequality in Nigeria’. According to the report, 82.9 million Nigerians are living in poverty. This represents 40.1 percent of the nation’s populace.

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