The Federal Government has commenced the construction of 150 housing units in Akure, the Ondo State capital, as part of the National Housing Fund Scheme established to alleviate the problem of shelter affordability for the people of the state.
They are expected to be completed at the beginning of the first quarter of 2016.
Speaking at the commencement of the projects, the State Controller of the Federal Mortgage Bank, Mrs. Mojisola Gbadebo, explained that the project was being sponsored by the bank in collaboration with the Federal Housing Authority Homes under the supervision of the Federal Ministry in charge of Housing.
According to her, a prospective buyer, who must be a contributor to the Housing Fund, stands the chance of accessing the loan from the bank with six per cent interest rate and 30 years of repayment.
While advising interested members of the public to key into the National Housing Fund Scheme, Gbadebo further explained that the amount to charge the contributor depends on his or her income and age, adding that the loan was not exclusively for salary earners but all income earners from the age of 18 years.
Representative of the ministry, Pastor Peter Taiwo, reaffirmed the readiness of the partners in the project to realise the set goals.
H expressed assurance that quality building materials will be used to ensure that the buyers get value for their money.
The Managing Director of the firm handling the project, Meadville Building and Construction Company, Otunba Ademola Akin Benson, said that the company will endure that the project certainly got completed in the next couple of months.
He confirmed that everything needed to deliver buildings had been provided, declaring that the project would complement the efforts of the Ondo State government in achieving housing for all.
Benson attributed the cause of the delay to paucity of fund. He however noted that all obstacles and challenges that had been hindering the execution of the project had been discarded.