The minister of Finance, Mrs Kemi Adeosun has
said after spending one year planning, the government is set to touch the
lives of millions of Nigerians.
Speaking at
the Spring Meetings of the World Bank/International Monetary Fund, Washington
D.C, Adeosun who tweeted in her handle said the her administration has spent
that last one year laying the foundation for the economy and now is for
building and making a real positive difference in the lives of Nigerians.
Earlier at a
meeting with representatives from International Finance Institutions the
minister take forwards discussions on Nigeria’s agenda to deliver affordable
housing.
“Delivering
affordable housing is critical to the delivery of our reform agenda and is one
of the key pillars for implementation we have been discussing in Washington
this week.
“Nigeria has
an estimated housing deficit of 17 million units, and with an estimated
increase of 900,000 annually. Some of the reasons for this are clear.
“Interest
rates are high for both developers and home buyers, and the tenure of debt
remains too short. As a result, we have to find a way to accelerate the
provision of affordable homes. That is why we have established the Family Homes
Fund.
“We have
requested N100 billion in the 2017 budget and for the subsequent three years as
part of the Medium Term Expenditure Framework (MTEF), this is seed funding from
the government, but this is not solely a public sector scheme, it will be a
partnership with the private sector and we are looking to mobilise additional
resources from domestic and external sources.
According to
her the Fund will enable us to deliver discounted mortgages for home owners,
while also enabling access to attractive funding mechanisms for developers. We
are piloting in 6 states and the results of those pilots will guide long term
programme implementation.”
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