The Federal Government has set aside N10b from the 2016 budget to build low income housing estate in each of the state of the federation and the Federal Capital Territory (FCT).
The Minister of Power, Works and Housing, Mr. Babatunde Fashola make this known on Tuesday in Abuja, he also revealed that there would be change in the policy direction of the Buhari’s administration in the settlement sector.
Former President Chief Obasanjo’s administration upturned the policy of Shagari’s administration by declaring that government would no longer build houses for people to occupy, subsequently, he sold off all government houses built during Shagari era.
However, Fashola unveiling Buhari’s administration agenda in the housing sector in Abuja, said there is need for the government to review the existing policy in the housing sector to address housing deficit in the country.
He said; “The Housing sector presents an enormous opportunity for positively impacting the economy to promote not only growth but inclusion.
“There have been a couple of National Housing policies and we intend to appraise the most current one to make changes only if necessary.
“Government will lead the aggressive intervention to increase supply, by undertaking construction of public housing and formulate policies that will invariably lead to private sector participation and ownership to reduce our housing deficit.”
Fashola maintained that the government would understudy ‘Jakande and Shagari’s housing estates model to develop an affordable housing unit for the masses, by building 40 blocks in each state.