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With N30k a Month you can buy a House Under the Incoming Family Home Fund – Osinbajo

BellaNaija.com

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Yemi Osinbajo | Photo Credit: Novo Isioro

The acting President, Yemi Osinbajo, says the Federal Government has earmarked N100 billion for the Family Home Fund under its Social Investment Programme (SIP).

He stated this at the “2nd year commemorative event of the federal government of Nigeria under President Muhammadu Buhari’’ showcasing the achievements of the SIP, in Abuja.

At the event, also titled “A Smile For Every Nigerian,’’ Osinbajo stated that the fund is an aspect of the SIP that was not mentioned.

“There is also an aspect of this SIP that has not be mentioned; this is N100bn set aside for the Family Home Fund, our Social Housing Project.

The N100bn is a yearly contribution to  our N1trn Social Housing fund. This is the largest in the history of the country.

The World Bank, AfDB, are contributors to the fund.

From this fund developers of real estates for social housing will borrow 80 per cent of cost of project and counter fund with their own 20 per cent.

The same fund will enable us to provide inexpensive mortgages for hundreds of thousands  across the country who wants to own homes on their own.

Anyone who can afford N30,000 a month will be able to buy a home under our new social housing fund scheme,’’ he said.

According to him, the Family Home Fund is expected to start immediately and rapidly expand construction across the country.

Osinbajo stated that SIP is clearly one of the largest social intervention efforts anywhere in the world.

According to him, it is complicated and diverse in scale and scope.

He, however, expressed the government’s pride in the men and women led by the SA on Social Investments, Maryam Uwais, who he said, had dedicated so much time, resources and energy to deliver on it.

The acting president reacted to the praises made about SIP from the beneficiaries and said they deserved it.

“We do not consider that this programme is a favour that is done to you. It is not. You deserve this programme because you are citizens of this country; this country can provide and we will provide for all those who need the help,’’ he said.

He said the N30,000 stipend might not be much but could really assist anyone who was jobless for long.

He announced that the next phase of this programme will proceed on a surer footing as the government will be reopening the portals for N-Power on June 13.

“We are ramping up on the Comditional Cash Transfer (CCT), Government Enterprise and Empowerment Programme (GEEP), and the Home Grown School Feeding; our targets are clear, soon enough we will put smiles on the faces of millions more.’’

Godswill Apkabio former Akwa Ibom governor and minority leader in the senate, told State House correspondents that the opposition was happy to be invited to the event.

According to Akpabio, poverty, unemployment and hunger have no political party leanings.

He, therefore, said that his party will support any FG programme with the capacity to address such problems.

Photo Credit: Novo Isioro

10 Comments

  1. Jennietobbie

    May 30, 2017 at 12:39 am

    Great initiative.

  2. Wendy

    May 30, 2017 at 1:18 am

    Can somebody please firstofus fix NEPA?!! Every small rain light will be non existent for weeks.

  3. Mummybobo

    May 30, 2017 at 7:44 am

    Plz plz plz give us light first.

  4. Jade

    May 30, 2017 at 9:02 am

    Im interested in owning a home abeg, how does one begin to apply?

  5. Darius

    May 30, 2017 at 9:04 am

    Buhari promised to fix it in the our energy crisis in the shortest possible time. It’s two years now!

    • Darius

      May 30, 2017 at 9:04 am

      …promised to fix our energy crisis…

    • The Real Oma

      May 30, 2017 at 10:36 am

      You mean Buhari and Fashola?
      So easy to run mouth pre-election.

  6. Sam Ade.

    May 30, 2017 at 4:07 pm

    Thanks for the good job, and happy anniversary. It will also be highly appreciated if your administration can use this opportunity look into the issue of 24/7 non electricity everywhere which I still believe should be the easiest problem for your government to fix ones and for all and get credit for it. Ones again happy anniversary.

  7. Beeeee

    May 30, 2017 at 5:50 pm

    With all the promises APC has given made, i I am a bit apprehensive about this. So many lies going around. If it’s genuine, great initiative.. However, the main things that Nigerians want tackled right now are power, infrastructure and employment. Power is the catalyst for every good thing that will happen in this country. Once we fix power, we would have more people investing in the country, more investment would lead to employment. People would stop spending their salaries on petrol/diesel. Leaving money free for other things.

  8. Victor Toks

    May 31, 2017 at 4:09 am

    Our government needs to first fix the crumbling infrastructure and manufacturing sectors.We are a nation that realised on 90 % of its necessary means of survive,from laptops,computers,cars,hospitals equipments,phones,food,building materials,broadband etc.In this area great scientific research,advanced technologies from agricultural products to Spacecraft technologies.we are still underdeveloped and cannot guarantee safety of our citizens.Our present and former governments couldn’t and still cannot feed the population of more than 150million.
    So,now they want to provide homes through mortgage system. Cement prices is skyrocketing costs,and we cannot provide affordable local building materials to build cost effective and modern-day homes.Why does Nigeria government like to deceive people,why does our government like Elephant projects,unrealistic dreams.I don’t buy this ideal because people who are hungry,and cannot guarantee gainful employment opportunities to supporting their families with 3square meals .How can they find #30,000 to pay for the homes.Nigeria is a joke ,Nigeria government is a disappointment and total disgrace to the black race.

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