By Our Reporter
The Cross River State government says it is ready to partner the federal government in providing over 1000 affordable housing units for Cross Riverians and residents in the state.
The social housing program which will be spread across the three senatorial districts will be executed under the National Social Housing Program being promoted by the Economic Sustainability Committee in the office of the Vice President.
In a project presentation to the state governor in Calabar, Managing Director of Family Homes Funds Limited, Femi Adewole, said “the scheme is a new program that was instituted in October 2020 as one of the economic sustainability plans of the federal government in response to the effects of Covid-19.”
He said the development of the housing units was going to be in phases with the first phase that will see to the construction of a thousand units under the affordable housing programme.
According to Adewole “By it’s nature, this program is targeted at Nigerians on very low income with the directive from the committee that the houses should cost no more than two million naira and that is basically to ensure that it is affordable to civil servants who are earning the minimum wage.”
According to him, the program will be funded under a two hundred billion naira debenture deed between the Family Homes Funds and the Central Bank of Nigeria with the beneficiaries expected to pay for their houses over a 15-year period as a minimum.
Maintaining that Odukpani, Ikom and Ogoja are the three areas where the projects will be sited in the state. And that the designs and documentations have now been completed.
Governor Ayade who expressed excitement over the project said “having listened to your presentation, I know the board of Family Homes Funds will definitely give the final approval on the 24th which is next week Tuesday. So I cannot wait to have your phone call with the good news to tell me all is done.”
The governor said with Cross River population at 4.2 million, 886 housing units were grossly inadequate.
On the cost the governor said “your provision of N 2 million for a one bedroom house for the poorest of the poor and not necessarily tying it to a formal income regime is very commendable.
“But we must also be very sensitive to the quality of the houses even though we are desperate to keep the price at N2 million so as to avoid disasters in the future.”