The Minister of Works and Housing, Babatunde Fashola, said Nigeria now owns 15.8% of Shelter Afrique, and its valued investment is over $30 million.
In Abuja, Fashola said this yesterday at the 42nd Annual General Meeting/ Symposium of Shelter Afrique. Shelter Afrique is a company set up to bring affordable housing to Africa.
The Minister reported investments of US$5.9 million in 2016, US$9.3 million in 2020, and an additional US$7.1 million in 2022, with Nigeria’s share amounting to $22.3 million. According to Fashola;
“This brings Nigeria’s shareholding in the company to 15.80 per cent (now) valued at $30,724,961.00
“For a company that was struggling for funding in 2016, this was a much-needed injection of life-restoring capital, and I must say that other member states have responded in kind.
“Beyond financial capital, Nigeria has also contributed the most crucial human money by offering Mr. Femi Adewole to provide interim leadership for the company during its most turbulent period.
“With this background, as we convene today, I can say with a measure of confidence that for Shelter Afrique, the dark clouds are gone, and a bright new future of renewed hope lies ahead, especially with the leadership provided by our company’s board and management led respectively by Dr. Chii Akporji and Mr. Thierno-Habib Hann.
He further added;
“On the domestic front, I am also pleased to report an increasing private sector participation in the delivery of an assortment of housing types for low- and high-income demand.
“With their control over land, within our federal constitutional arrangement, state governments are playing their roles in housing supply from Abia to Zamfara.
“The Federal Government complements these contributions to increasing housing supply with initiatives such as the National Housing Programme that has delivered houses across 35 states and the Federal Capital Territory, Abuja, complemented by the Federal Housing Estates across our six geo-political zones, and the Federal Mortgage Bank, ministerial housing scheme and co-operative housing initiatives across the 36 states of our country”.
cc: Vanguard Ng
