In the quest to bridge the nation’s huge housing deficit, the Federal Government has signed a Memorandum of Understanding with an international firm for the construction of 15,000 affordable houses across the country within 12 months, at a cost of $1.5 billion (about N300 billion).

Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, who signed the MoU, said the decision was taken in fulfillment of President Goodluck Jonathan’s promise to transform the country in all aspects of life, especially through mass production of affordable houses.

She said the move underscores government’s resolve to partner with different operators in the housing sector, particularly between real estate developers, building materials producers, investors in real estate business and the different tiers of government, to maximize housing delivery.

“I wish to emphasize that the Federal Ministry of Lands, Housing and Urban Development will continue to collaborate with key actors and operators in the housing sector to reposition the sector for improved and efficient housing delivery to the majority of Nigerians, especially the low income earners,” she stated.

The minister urged other investors and developers across the country to partner with the government in providing adequate shelter to the citizenry. “We have also stepped up our efforts in partnering with the private sector, investors and other stakeholders in the housing and urban development sector in order to ensure that we all work together to achieve the desired goal,” she said.

Chairman of BASAP Ventures Limited, Dr. Samson Ayorinde, assured of the investors’ readiness to work with the Ministry towards achieving the same goal, promising to move to site immediately. “We are calling on the Ministry to discuss with the Ministry of Work in creating road to the site in order to make our work viable. So we seek the cooperation of the Ministry in this regard. We are investing $1.5 billion. Our investors are ready to put in $1.5 billion into the transaction.”