Civil servants move to tackle housing challenge
As part of efforts to help civil servants access affordable housing, cooperative societies in some federal government agencies and parastatals have come together to form the Federation of Housing Cooperatives of Nigeria (FEHCON).
The body, which would be inaugurated in two week’s time, would represent the interest of housing off-takers and ensure they are not left to the whims and caprices of developers.
Speaking at a housing seminar in Abuja, a retired Permanent Secretary and Chairman, NISH Housing Initiative, Yemi Adelakun, stressed the need to initiate plans for accumulation of social capital through monthly contribution of cooperative members, in order to achieve single digit interest rate for off-takers financing.
He observed that the initiative is a paradigm shift from supply side (developers) to demand side (off-takers) in housing development. He said the focus of affordable housing should be on off-takers and their financing.
Adelakun encouraged group negotiation with manufacturers of building materials to minimise cost of building.
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