Estimated Reading Time: <1
President Goodluck Jonathan on Thursday called for the computerisation of the country’s land registry to enhance proper land administration.
Jonathan made the call at the launch of the Nigeria Mortgage Refinance Company Plc at the banquet hall of the Presidential Villa.
He said that the launch of the company was in line with his administration’s efforts at tackling housing deficit.
Jonathan said that the Public Private Partnership-led initiative would eliminate the financing barrier to house ownership in the country.
He advised state governors to consider delegating land consent in their states in order to speed up the process of land acquisition.
The president said his administration had created a stable macro economic environment that resulted in the lowering of inflation rate from 12 per cent to 8 per cent last year.
He added that the development had also enhanced sustainable and dynamic housing market.
“The housing sector is known worldwide as an avenue for job creation and economic stability.
“That is why we are focused on the sector and the concrete action we have taken in alleviating the major constraints to its rapid development,” he said.
The Minister of Finance, Dr Ngozi Okonjo-Iweala, said it would take three to four months for the company to start operations.
She said the government expected that by the end of June, Nigerians would begin to access the loans.
Alhaji Muhammed Sada, the minister of mines and Steel Development and Supervising Minister of Land, Housing and Urban Development, said the country had 17 million house deficits.
He attributed the housing deficit to lack of proper financing of the sector.
The News Agency of Nigeria (NAN) reports the launch also featured the signing of two major agreements between the Ministry of Lands, Housing and Urban Development and Shelter Afrique.
A subsidiary agreement was signed by the Ministry of Finance and the Central Bank of Nigeria with the World Bank.
- Breaking: Southeast governors announce own security outfit ‘Ebubeagu’
- #SaabGate: Joe Abah denies involvement in Alex Saab campaign
- Breaking: South-East governors meet in Imo on security
- Ramadan: Look out for crescent from Monday – Sultan
- Police rescue 15 abducted persons, 32 cows in Kaduna
- Police arrest 17 suspected cultists in Abuja
- SERAP says it is unfair to pay judges less, while Presidents and governors take home “huge salaries”
- Catholic Priest abducted in Imo
- Collective responsibility needed in fight against poverty — Okorocha
- INTERVIEW: I am excited people looked beyond the lip gloss to enjoy my content – Enioluwa Adeoluwa, 21-year-old Nigeria’s front-line Influencer