Achieve the construction of 1 million low-cost houses per year
In the works
- When made: 2014
- Where made: Party manifesto
To solve what it said was a housing deficit of 17 million, the APC pledged to build 1 million housing units every year, through both direct social housing programmes and supporting private developers.
The first visible movement on this promise was almost a year after Buhari’s 2015 election when cabinet approved a N500 billion fund to give mortgages for affordable houses for Nigerians.
The government was also to start the construction of 100,000 houses annually from 2017. But the initial allocation was 2,736 houses to be constructed in 33 states at the cost of N35.4bn after state governments donated land to the mass housing project.
In 2017, the second part of the mortgage fund which had now grown to N1 trillion was launched. Under it, real estate developers can borrow up to 80% of their project cost from the fund.
But the government is still far behind on its initial promise of 1 million units per year as no data shows it has delivered 4 million low cost houses – just 5% of that fund has been disbursed as at January 2019, according to the finance minister.
-Africa Check, February 2019
Source: APC Manifesto 2014
Update: No evidence housing target met
No data shows 4 million low cost houses have been constructed
As of the end of 2018, there was no evidence that the N500 billion Family Homes Fund, which was approved in September had delivered the targeted 100,000 houses in a year, two years later.
The special adviser to the President on economic matters, Adeyemi Dipeolu, reportedly stated in October 2018 that government “would disburse the fund, N100 billion yearly over the next five years” and that the ministry of power, works & housing had completed over 2000 houses.
But the government is still far behind on its initial promise of 1 million units per year as no data shows it has delivered 4 million low-cost houses.