×
Business

Housing Deficit - Shelter Afrique to Invest $180 Million in Five Years

Nigeria: Housing Deficit - Shelter Afrique to Invest $180 Million in Five Years

Shelter Afrique, a non-governmental organisation, is to invest 180 million dollars in five years toward addressing Nigeria's housing deficit, its Managing Director, Andrew Chimphondah, said on Tuesday in Abuja.

Mr Chimphondah told the News Agency of Nigeria (NAN), that the investment period would span from 2019 to 2024.

He said that Nigeria was a strategic market for Shelter Afrique, adding that the outfit's shareholders included 44 African countries and two financial institutions.

According to him, Shelter Afrique provides loans, grants and credits for the development of the environment and the provision of houses for Africans.

Mr Chimphondah said that Nigeria had 70 to 20 million estimated housing shortage.

"We are looking at the demand and supply side of housing. For the supply side, we will enter into Public-Private-Partnership with government, with the government providing land and subsidised infrastructure.

"Our organisation will provide funding and expertise to carry out the project.

"We will commit and dedicate all the expertise to ensure that quality houses are delivered; we will also ensure that the houses are energy-efficient, environmentally friendly and comfortable," he added.

Mr Chimphondah said that most financial institutions had often complained of funding, but assured Nigerians that the NGO would fashion out a way to reduce the cost of the houses. (NAN)

Web hosting by Somee.com