The Launch of the National Social Housing Programme under the ESP:
• In June 2020, President Buhari approved the 2.3 Trillion Naira Economic Sustainability Plan (ESP) prepared by the Osinbajo-led Economic Sustainability Committee.
• The Federal Government mass housing scheme is one of the planned schemes under the ESP targeted at providing low-income houses to over 1.5 million Nigerian families and creating 1.8 million jobs in the process.
• To achieve these goals, the Family Homes Fund will begin the construction of over 300,000 housing units next week. A minimum of 400 houses is expected to be built in each of the 774 LGAs in the country and the FCT.
• The social housing project will cost over N400 billion and sites where the housing project will commence have already been identified across various geo-political zones by the Federal Government.
• These sites include those in Ekiti and Ogun in the Southwest; Enugu, and Abia in the Southeast; Delta, and Edo in the South-south; Yobe, and Bauchi in the Northeast; Kaduna andj Katsina in the Northwest; Nasarawa and Plateau in the North-central; and sites in Abuja.
• The 1, 2, and 3 bedroom units will cost as little as between N1.8miliion to N2million, while financial assistance would be available for Nigerians to pay the mortgage.
• The form of financial assistance that will be made available to Nigerians will be mortgage loans at low interest rates and without collateral.
• Under the Social Housing program of the ESP, there would also be Rent to Own option as part of the Buhari administration’s resolve to enable the common man own his own home.
• To kickstart the social housing projects, the CBN has already committed to a N200 billion facility and the Ministry of Finance has guaranteed 5% of that facility.
• Financing will be arranged through the designation of a Homes’ Warehousing Agent who will purchase the completed homes from the developers. Individual buyers will then purchase homes from these Home’ Warehousing Agents.
• The implementing agency is Family Homes Fund Ltd and it has mobilized thousands of cooperatives groups across the country as the main warehouse agents to mobilize low-income buyers.
• For instance, FHF recently met with 93 Cooperative Leaders from the 6 geographical zones, under the aegis of the Co-Operatives Federation of Nigeria.
• Focusing on job creation under the social housing project, jobs will be created from the need for the local production of building materials and housing inputs such as doors, windows, hinges, frames, cement, paints, etc. For instance, about 1.5m doors would be needed, 1.8m windows, 7.8m hinges amongst other input needs.
• Building sites will also function like factories for the manufacturing of these house inputs to increase local production of building materials and save costs on the importation of building products.
• The social housing project will also employ both the services of established developers and young small-medium scale professional contractors (architects, engineers, quantity surveyors, accountants, etc). These groups will in turn employ the needed artisans.
Available Home Options Under NSHP
Here are some of the offers we would be making available for aspiring home owners throughout Nigeria.
2-Rooms (1 Bedroom House) for ₦2,000,000
3-Rooms (2 Bedroom House) for ₦2,750,000
4-Rooms (3 Bedroom House) for ₦3,500,000
Easy payment options with the LOWEST INTEREST rates nationwide.
3 simple steps to owning your home
Register and submit your application to the NSHP in a simple manner at https://assessment.nshp.gov.ng/individual
All applicants will be subject to a competitive qualification process that will be fair and transparent.
Qualified homeowners will make contributions towards their homes while awaiting delivery.
Who is eligible/qualified to own a home on the NSHP?
To be eligible to own a home, you must fulfil the following criteria:
✔ Be a Nigerian citizen
✔ Be over 18 years of age
✔ Have a valid national identity card.
✔ You must then complete your profile by submitting your personal details, housing preferences (the type of house you are applying for), etc.
✔ Show a reliable income
NSHP will provide low cost homes through alternative financing options in all states in Nigeria and the FCT.
Therefore With only Two Million Naira, Nigerians can now own homes with low-interest rate & ABSOLUTELY no collateral, under the National Social Housing Programme, a component of the National Economic Sustainability Plan (NESP) by FG.
Interested individuals can apply at https://assessment.nshp.gov.ng/individual
