Kwara State government has signed a Memorandum of Understanding (MoU) with Stylotec Concrete Industries of The Netherlands for the construction of 10,000 affordable housing units over the next four years, worth about N73 billion.

At the signing ceremony between the state government and the dutch firm in Ilorin, Governor Abdulfatah Ahmed said the technology to be deployed in the development has the capacity to deliver 15 housing units per day.

The governor disclosed that the project will cost $450m (N70.65 billion) to deliver the houses while another $15m (N2.35 billion) will be used for the development of necessary infrastructure, bringing the total capital outlay to about N73 billion.

Chief Press Secretary to the Governor, Mr. Abdulwahab Oba, in a statement, quoted the governor as saying the projection was achievable due to the new technology that would be employed.

According to him, the housing scheme would help in the actualisation of his administration’s Shared Prosperity programme as clinics would now be built in good time to facilitate 500 metres access to good health care by the residents. “The beauty of the scheme is that the core investors have a window that will ensure that Kwara residents have access to mortgage loans to buy the houses,” the governor stated.

In his remarks at the occasion, President of Stylotec Concrete Industries, Mr. George Lamar, said the projection of 10,000 housing units in four years was achievable because of the modern technology that would be employed. He said the environment in Kwara State is conducive for the housing initiative because the state government had put in place business-friendly policies.