Ogun battles to close 500,000 housing deficit

The Ogun State Government is battling to close the gap of over 500,000 housing deficit in the state,  the Commissioner for Housing, Jangumolu Akande Omoniyi, has disclosed. Omoniyi, while speaking with newsmen in Abeokuta, said the wide gap inherited by the current administration on May 29, 2019, would, however, be filled by at least 50 […]

The Ogun State Government is battling to close the gap of over 500,000 housing deficit in the state,  the Commissioner for Housing, Jangumolu Akande Omoniyi, has disclosed.

Omoniyi, while speaking with newsmen in Abeokuta, said the wide gap inherited by the current administration on May 29, 2019, would, however, be filled by at least 50 per cent before expiration of the incumbent administration.

Omoniyi explained that the government had commenced 2,500 housing projects in various locations in the state, hinting that the first phase was completed in May this year.

“We met on ground, a very wide gap of housing deficit in the state, and by our postulation, we have nothing less than 500,000 housing gap in Ogun State.

“And we know that four years, eight years down the line, we may not be able to fill that gap but we should be sure that at the end of the day, we achieve nothing less than 50% of that gap. It looks as if it’s a tall order but with the market in place, we believe that we can achieve that, not forgetting the fact that Ogun State today is the industrial hub of the nation,” the commissioner said.

Omoniyi maintained that the affordability of the state’s housing projects for the subscribers “in line with global best practices” is assured.

“I know what is obtainable nationally when it comes to affordable housing; the houses that we have, the price of our houses in Ogun State today is within N5.5million, and if we talk of affordability, it does not mean that the common man will have to cough out N5.5million to build or buy those houses. In advanced countries nobody pays more than 5 or 10% to be able to get mortgage and that is what is obtainable in Ogun State today.

“We have a funding partner, Federal Mortgage Bank, and Family Homes that have shown interest in partnering with us to offer best digit rates and a long tenured one for to-be subscribers,” he added.