Mutallab promises social housing

Mutallab who is chairman of Barumark Investment and Development Company expressed his intention on Tuesday in Abuja while opening his newly built Acacia Grove, a housing estate with 36 units of flat in Wuye – Abuja.“We’re catering for all categories: middle class, the rich and so on. We intend to do more for affordable housing-two […]

Mutallab who is chairman of Barumark Investment and Development Company expressed his intention on Tuesday in Abuja while opening his newly built Acacia Grove, a housing estate with 36 units of flat in Wuye – Abuja.
“We’re catering for all categories: middle class, the rich and so on. We intend to do more for affordable housing-two bedrooms or three bedrooms with cost far low.
“The housing loan scheme, as you know… all that you need do is pay N3 million and you have a home instead of paying rent which will keep going up. You can subscribe to that loan scheme.
“We have approached OPIC in the United States [Overseas Private Investment Corporation]. We’re going to tap from that fund and we hope to soon come up with a programnme that will bring affordable houses.
“Anything above $1,000 [N16 million] is out. Their loans go for so many years before you repay.
“The problem in Nigeria is we have only short term funds. Anything above 10 years is difficult.
“We’re tapping into that and we hope to soon make an announcement on that,” he explained.
OPIC is a United States government agency that assists businesses looking to invest and tries to promote development in emerging markets, in addition to supporting domestic foreign policies.
The Chief Executive Officer of Aso Investment and Development Company, Isoken Omo who led guests to tour the new houses disclosed that a flat costs N95million.
She said the 36 well apportioned four-bedroom terrace houses have their own dedicated servants’ quarters each.
The buildings she said are built to provide a strong sense of satisfaction for potential buyers.
Each building comes fully fitted with the best of household appliances, the latest security systems and a centrally controlled integrated entertainment system.
 To enhance the live-ability of Acacia Grove, it has assortment of facilities like a 150kva generator, swimming pool, gymnasium, basketball court and a mini mart.
It was gathered that all the houses have already been bought except two.
The event was graced by dignitaries like the chairman of Media Trust Ltd. Mallam Kabiru Yusuf; the Managing Director of Jaiz Bank, Mr Muhammad Nurul Islam; Mallam Hassan Usman who is a director at Aso Investment and Development Company as well as visitors from Ghana.
Mutallab who was once chairman of First Bank of Nigeria and former Nigerian Federal Commissioner for Economic Development was described by The Times in 2009 as being “one of the richest men in Africa.”