Minister of works and housing, Mr Babatunde Raji Fashola (SAN) has identified Nigeria’s leading developer of smart homes, Cosgrove Investment Limited, as a worthy partner in the federal government’s plan to establish a National Housing Bond in order to provide funding support to real estate developers, just as the chairman of Cosgrove, Mr Umar Abdullahi said the organisation aims to provide standard and affordable homes to low-income earners.
The minister, who spoke during a working visit to both Katampe and Wuye Cosgrove Smart Estates in Abuja, expressed delight in the ability of the company to create jobs and contribute to the development of the economy. He said, “Some of the conversation I have had with him (the chairman of Cosgrove) is how they are financing their budget and how government can help in terms of interest rate, access to more capital.” He added that “there are so many people working for Cosgrove and that means job creation.”
He said Cosgrove is an example of how provision of housing infrastructure translates to job creation.
He said government is interested in growing the economy and creating jobs and infrastructure, adding that fiscal and monetary policies levers can help the housing sector.
While saying that government has been talking about creating an infrastructure fund, the minister assured that government would go back and do some work on that, and possibly on how to create a National Housing Bond that can be accessed by housing developers at very reasonable rates.
The chairman, Cosgrove Investment Limited, Mr Umar Abdullahi, said the company offers different types of housing, adding that “We have the premium and we also have the affordable, and we are working to provide both premium and affordable housing solutions.”