FG offers one-bedroom apartment for N9.2m under ‘very affordable housing scheme’

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When the federal government launched its National Housing Programme (NHP) and created a portal for the sale of completed houses under the scheme in November, the idea was to address housing deficit in the country and ease the burden of acquiring homes for Nigerians.

“It is a programme borne out of the government’s desire to provide affordable housing for its citizenry,” information on the NHP portal reads.

The programme gives the options of mortgage, rent, and outright purchase.

Speaking on November 18 when he appeared before the senate committee on housing, Babatunde Fashola, minister of works and housing, said variation in prices according to states is as a result of the cost of building and topography.

The minister also said the cost of the structures range between “N7.2 million and about N16 million, depending on what a person wants”.

HOW AFFORDABLE ARE THE NHP HOMES?

Checks on the NHP portal by TheCable show that a one-bedroom bungalow goes for N9,268,751. The price is the same across states where the property type is available.

A two-bedroom bungalow sells for N12,398,460, while that of a three-bedroom costs 16,491,155.

A one-bedroom flat in a condominium available in southern states goes for N7,222,404, two-bedroom apartment costs N9,148,378, while a three-bedroom unit costs N13,241,074.

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