Chinese firm to build 1,000 houses for civil servants

STANBIC IBTC HOME LOAN
STANBIC IBTC HOME LOAN

The Federal Government has signed a Memorandum of Understanding with a Chinese firm to build 1,000 houses for federal civil servants in the country.

The Head of the Civil Service of the Federation, Mrs.Winifred Oyo-Ita, while signing the MoU between the Staff Housing Loans Board and China Nangtong Sanjian Construction Company, said the occasion was a significant event in the life of the civil servants and herself.

According to her, the agreement provides another opportunity to promote one of the welfare packages for the federal civil servants by the administration of President Muhammadu Buhari.

A statement issued by the Assistant Director (Media Relations) in the office of the HCSF, Mohammed Manga, quoted Oyo-Ita as saying that significant demand for housing in the country had continued to rise as only 20 per cent of public servants owned houses of their own.

She added that it was time for Nigeria to benefit from its contributions to the African Development Bank as a member of the African Union to enable the citizens own houses of their own.

According to her, it is in recognition of the shortage of houses for federal civil servants that the present administration made the sector a key focus in the change agenda, with a target of 500,000 housing units and significant allocation to the sector in this year’s budget under the Federal Ministry of Power, Works and Housing.

She maintained that addressing the sources of mortgage needs of the Federal Government employees would not only motivate them, but would go a long way in reducing perceived corrupt practices in the service.

Oyo-Ita expressed optimism that developing the housing sector would help stimulate economic growth as well as create jobs in the economy.

“Indeed, having construction is one of the indices of most developing economies,” she stated.

Earlier in his speech, the Vice General Manager, CNTC, Mr. Tee Ching Seng, said the firm was ready to share its wealth of experience with Nigerians.

He gave an assurance that his company would deliver the most quality and affordable houses to the civil servants.

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