The Housing Development Advocacy Network has urged the Federal Government to disburse the N200 billion intervention approved by the Central Bank of Nigeria for low-cost housing, which has been pending for three years.
The Executive Director of the group, Festus Adebayo, stated that the release for the housing sector intervention loan was signed in 2020.
“To the best of our knowledge, the agreement for the release of this loan for the sector development has been signed since 2020 but till now the disbursement has not reached any of the government-owned housing finance agencies. We are concerned about why the approved loan has not been released three years after all processes have been concluded.”
He said, “This is an indictment of that the government and the CBN are not serious about the development of housing in Nigeria. The non-released has affected so many homeless people and has affected the generality of the people, especially the low-income earners. Hence, they are not committed to housing development. They are only paying lip service.
“Today, we can say the private sector is doing better than the government in the area of housing delivery. While demanding the release of the funds, we are also determined to follow up on how the fund will be used at every stage. On the housing intervention loan, the CBN has said on its portal that the programme will house up to 900,000 children and adults on a low income with a direct impact on health, education, and economic outcomes.
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