The Federal Government performed the groundbreaking for the construction of 250 units of Renewed Hope Housing Estate in Osogbo, Osun State capital, with a threat to drag any developer who engages in substandard work in the ongoing development of its projects across the country to court.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, who made this known while speaking at the ceremony held at Okepupa Abere, Off Gbongan/Osogbo Road, Behind State Secretariat/Christians Pilgrims Board, Okepupa, added that the government will explore all necessary legal means to ensure that developers deliver as per the contract.
The minister, however, charged the developers “to adhere to the timeline and finish within three months so that we can begin the process of getting Osun indigenes to purchase and move in.”.
According to him, “To ensure affordability, we have created different options to enable everyone who has a source of income and livelihood to own these homes when they are completed.
“These include single-digit mortgage loans that beneficiaries can repay over 30 years, rent-to-own schemes provided by the Federal Mortgage Bank of Nigeria, and outright purchase options for those who can afford to pay upfront.”
“Statistics show that the construction of one housing unit creates an average of 25 direct and indirect jobs. So, for these 250 housing units in Osun, we hope to create jobs for over 6,500 people in various trades, from professionals like architects, civil engineers, and mechanical engineers to masons, plumbers, tilers, electricians, and labourers.”
“We have seen unskilled workers at other project sites earning as much as N35,000 per week, at an average of N5,000 per day. This amounts to about N140,000 per month.”
“This is in addition to the economic activities, including those selling food, supplying blocks, and providing building materials. The value chain effect of construction work on this site is significant and creates a positive economic impact.
“I want to state that under the Renewed Hope Agenda of His Excellency, President Bola Tinubu, we at the Federal Ministry of Housing and Urban Development are very particular about giving Nigerians value for money.
“We are diligently funding these projects from the N50 billion 2023 Supplementary Budget that Mr President approved for the Ministry to ensure sustainability, quality, and geographic spread.”
“It is important to say that the provision of land in a good location and at no cost is a key condition for Renewed Hope Housing Projects.
“The twelve states covered under this 2023 supplementary budget are those that first provided land. I want to assure you that states that have not been covered will be included in the Ministry’s 2024 budget on a first-come, first-served basis, on the condition that they provide land at no cost to enhance affordability.
He commended the Osun State Governor, Ademola Adeleke, for promptly granting the request for the provision of land at no cost, stating that this singular action has helped to reduce as much as 30 per cent of the cost of the units in the estate for the benefit of potential homeowners.
In his own speech, Governor Ademola Adeleke appreciated the federal government for considering the state among the early beneficiaries of the projects despite political differences.
Represented by his deputy, Prince Kola Adewusi, the governor, however, charged the contractors to deliver within the stipulated time and ensure a quality job.
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