Cement Manufacturers Agree to Subsidize Prices in Support of the Federal Government’s Housing Project

Nigeria’s Vice President, Prof. Yemi Osinbajo has said that cement producers are willing to support the Federal Government’s mega housing projects by subsidising the price of cement.

The Federal Government has had a plan to build 300, 000 housing units for low income earners, under the Economic Sustainability Plan (ESP), since the Buhari administration came to power.

The Vice President said this while inspecting some completed houses at Dei Dei in Abuja. The Professor said that the housing units would be very affordable, even for those on minimum wage, while thanking the cement manufacturers for their kind gesture.

Laolu Akande, Osinbajo’s aide said, “They (cement manufacturers) have agreed to give cement for this project at a considerable discount which is a very helpful thing to do and we really commend and thank them for the contributions they are making, it is a very patriotic thing on their part. They also see the importance of this mass housing programme.”
“On average, anybody who is earning N30,000 a month and is ready to spend a third of that amount will be able to afford one of these houses, that is the plan. What I have seen so far, there is a one-bedroom unit and there is a two-bedroom unit, both coming under N2 million.
“I think that this is a very good thing indeed. And a point has been made that it is possible to build good, decent accommodation that isn’t out of the reach of practically everyone.”

“We are hoping that we will be able to replicate this not just in Abuja but all over the country. So far, the family homes fund is in 11 states, and they have given up land for the project,” he said.

“We are hoping that this year, we will be able to very rapidly improve the scale and speed of putting these houses in place. Once we are able to get moving quickly, we think we can make available several thousands of houses across the country and more people can afford to live in such houses.”

Laolu Akande also said the housing project will create 1.8 million jobs for youths.

“Also important is the job creation aspect of it. You have young men and women who are builders, architects, civil engineers working on this project. We are hoping that a lot of the building materials will be locally fabricated especially the windows, doors and other components of the houses.”

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