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FG to issue title documents to power firms

By on October 11, 2014

The Minister of Lands, Housing and Urban Development, Mrs. Akon Eyakenyi, has said that the ministry is set to commence the issuance of Certificates of Occupancy to the successor companies of the Power Holding Company of Nigeria in respect of 635 core assets.

The core assets belong to the Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt and Yola electric power distribution companies.

Eyakenyi stated this at the 2014 ministerial press briefing held by the ministry in Abuja on Thursday.

She added that the Federal Government was set to provide about 10,000 housing units across the federation through the Nigerian Mortgage Refinance Company, adding that the vision of the government was to provide affordable houses for Nigerians.

“The ministry has commenced the process of issuing Certificates of Occupancy in respect of the 635 core assets of the successor companies of the Power Holding Company of Nigeria. These core assets belong to 11 electric power distribution companies in the Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt and Yola zones,” she said.

She also said the ministry was working with the Ministry of Finance to ensure the effective take-off of the housing project.

Eyakenyi said, “Under the Transformation Agenda and Vision 20: 2020, the provision of accessible and affordable housing is one of the strategic national imperatives for guaranteeing the well-being and productivity of the citizenry.

“The Nigeria Mortgage Refinance Company was officially launched by the President on January 16, 2014 to increase mortgage penetration in the country. The ministry is collaborating with the Minister of Finance to ensure the effective take-off of the project.

“While the Federal Ministry of Finance, through the NMRC, is handling the demand side of the provision of 10,000 mortgages as a pilot scheme, the Federal Ministry of Lands, Housing and Urban Development is facilitating action on the delivery of 10,000 housing units that the mortgage facility of the NMRC will support.

“A ministerial committee under the chairmanship of the minister is responsible for working out the modalities for the delivery of the 10,000 units over the next few months. We are encouraged by the large number of competent developers and builders that showed interest in participating in the process by responding to our advertisement for expression of interest, which was published in the media.”

The minister said the developers and builders that would handle the project would be selected based on their credibility, adding that 14 states in the country had already provided land for the purpose of the project.

She added, “All selected developers and builders will be evaluated under a transparent and well-articulated system of eligibility criteria in order to create a level playing field for all stakeholders. We are also encouraged by the positive response from the state governments in respect of the provision of unencumbered land for the project.

 

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