Nigerians Will Now Be Able To Own A Home With N30,000 - Osinbajo
It cannot get any more incredulous, but it is Nigeria’s Acting President, Yemi Osinbajo that is making the promise, so we’ll take it with more than a pinch of salt.
Osinbajo has said that the Federal Government is implementing a 100 billion Naira Family Home Fund, which provides inexpensive mortgages to Nigerians who can afford 30, 000 Naira per month.
It means if you can earn up to 30,000 Naira a month you can sack your landlord.
Osinbajo said the scheme has taken off in 11 states.
The Acting President first gave a hint of the scheme in his May 29 Democracy Day Broadcast.
He further elaborated later on it at the Social Investment Programme’s score card presentation organised as part of activities to mark the 2017 Democracy Day celebration.
According to him, “there is also an aspect of the SIP that has not been mentioned. This is 100 billion Naira set aside for the Family Home Fund of our Social Housing Project.’’
Explaining the operation of the fund, Osinbajo said “the 100 billion Naira is a yearly contribution to our 1 trillion Naira Social Housing Fund, the largest in the history of the country.
“Both the World Bank and AFDB are contributors to the fund from which developers will borrow 80% of cost of project and counter fund with their own 20%.’’
The Acting President added that “the same fund will enable us to provide inexpensive mortgages for hundreds of thousands of Nigerians across the country especially for Nigerians who can afford 30, 000 Naira per month.’’
So, there you have it, get ready to keep at least 30,000 naira behind a month so you can give your landlord a quit notice.