The Federal Government on Tuesday performed the ground-breaking of the construction of 250 housing units, tagged: Renewed Hope Estate, in Ibadan.
The News Agency of Nigeria (NAN) reports that the estate was situated at the defunct Inland Container Dry Port, Erunmu, Ibadan.
Speaking at the occasion, Minister of Housing and Urban Development, Mr Armed Dangiwa, warned contractors handling the projects against shoddy and substandard job.
Dangiwa also urged the contractors to do the construction of the houses according to specifications, saying the government would explore all necessary legal means to ensure that they delivered by the terms of the contract.
He equally called on them to adhere to the three-month completion timeline so that the process of arranging for the purchase of the houses by residents of the state could begin.
The News Agency of Nigeria (NAN) reports that the estate comprises 50 one-bedroom semi-detached
bungalows, 150 two-bedroom semi-detached bungalows, and 50 three-bedroom semi-detached bungalows.
The minister stated that the housing units were designed in a way that would make them affordable for people to acquire by using organic designs to allow for future expansion as the income of beneficiaries increased.
“This means that a one-bedroom unit can be expanded to two bedrooms and a two-bedroom unit can also be expanded to three bedrooms as the owner’s financial situation improves or their family grows,” he said.
On the affordability of the housing units when completed, the minister said that the government had created different options to enable everyone with a source of income and livelihood to own the homes.
“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,” he said.
