Blog, Property, Real Estate

NHP: FG set to deliver 2,736 housing units

By Dayo Ayeyemi

Effort to provide quality accommodation for Nigerians is in top gear as the Federal Government has concluded plan to deliver 2,736 newly built housing units under its National Housing Programme (NHP) to the stock.

New Telegraph gathered that the 2,736 housing units are coming under the NHP’s pilot projects going on in 33 states across the country. According to the Minister of State for Power, Works and Housing, Mr. Mustapha Shehu, the new stock is part of the housing units, which construction has been completed under the National Housing Programme. By the time the new housing units are delivered, the minister said they would help to gradually cut down the national housing deficit, which is estimated at 17 million.

On the status of the NHP, Shehuri said: “The NHP would be adding 2,736 serviced units to the national housing stock thus gradually reducing the huge deficit currently estimated at 16 to 18 million units.” New Telegraph gathered that while developers handling the project had reached advanced stage of completion in some states, others are yet to reach the lintel level. Meanwhile, in order to get appropriate statistics for investments on housing developments, agriculture and others by interested investors, the Federal Government said it would soon have a unified depository of landed assets from the 36 states of the federation.

Disclosing this during the Conference of Directors and Heads of Lands in the Federal and State Government’s Ministries, Shehuri boasted that the new land depository would boost investments in the country when it becomes operational. According to the minister of state for work and housing, the depository wi ll include all landed properties in the country, adding that it will be an online system backed by a good information communication technology (ICT) infrastructure.

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He stated that the effort was part of both the Economic Recovery and Growth Plan (EGRP) and the Ease of Doing Business (EODB) frameworks of the government. He said the ministry had been working hard to strengthen the Federal Land Registry for online transactions in line with global best practices.

“The results of some of these reforms of the Federal Government in this and other respects are responsible for the modest improvement in the country’s EODB ranking which has now gone up 24 places from the position as at 2015,” said Shehuri.

He added that there were also plans to establish the National Land Depository, a huge ICT-backed infrastructure for the integration of various registries in Nigeria to enable prospective investors make quick decisions regarding property investment prospects. In order to ensure prompt processing of landed transactions, he hinted that the ministry had processed over 1,500 secondary transactions on its land across the country.

He said: “The ministry has successfully processed over 1,500 secondary transactions on Federal Government lands nationwide, which are already positively impacting on the economy.” According to the minister, the ministry is working hard to title over 2000 lands, thus empowering the holders to raise investible funds to establish new and grow existing businesses to creating value and jobs.

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