Kaduna state government will today sign a Memorandum of Understanding (MoU) with Trans Atlantic Integrated Development Limited for the construction of 3,000 units of houses under its public private partnership (PPP) on Mass Housing Scheme.
Governor Mukhtar Ramalan Yero told the management of the company when they paid him a courtesy yesterday that his administration was committed to bridging the housing deficit in the state by taking advantage of the mortgage system to be provided through partnership with private developers.
Yero, who attributed the widespread corruption in the country to desperate efforts by citizens to own personal houses and other assets, said “our administration attaches great importance to housing development in Kaduna state and government is concerned on finding ways to address the huge deficit in housing.”
He said: “The mortgage scheme will encourage personal ownership of houses through the refinancing policy of the company. With this development, I believe people will no longer be under pressure to own their houses. Kaduna is fully ready for this partnership because there should be a system that makes it easier for people to own houses.”
Under the arrangement, the Trans Atlantic Integrated Development Limited is to construct 3,000 units of houses, while Kaduna state government provides certificate of occupancy for 100 hectares of land to be used for the project.
Chairman of the Company, Mike Williams, told the governor that the mortgage refinancing system would enable beneficiaries pay for the houses within a period span of between 20 and 25 years.
He said 90 per cent of materials for the project were to be sources locally, which, according to him, will boost the economy of Kaduna state by creating jobs for its unemployed youths.
