The Minister of Power, Works and Housing, Babatunde Fashola, is ready to change Nigeria's housing budget for 2016.
Minister to budget N10 billion for housing in 2016
The Minister of Power, Works and Housing, Babatunde Fashola, is ready to change Nigeria's housing budget for 2016.
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![Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]")
According to him, N10 billion might be set aside for housing in the 2016 budget.
“Only N1.8 billion was budgeted for housing in 2015. This has to change to at least N10 billion per annum. There are models this government can key into like the Shagari, Jakande schemes.”
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About a week ago, the Federal Government announced it's plans to set up a $25 billion fund for infrastructure investment.
Also, Lafarge Africa Plc might have found a solution to Nigeria's housing deficit, a new building technology called Aluminum Shuttering.
This allows for more houses to built at an increased speed and reduced cost.
With all of the above, it looks like 2016 might be a good year for Nigeria's housing sector.
Do you agree?
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