The Federal Government has commenced the construction of 150 houses in Akure, the Ondo State capital through the National Housing Fund to alleviate the problem of inadequate affordable shelter for the residents of the state.

The project, which comprises two and three-bedroom flats, is being handled by Meadville Building and Construction Company, and is expected to be completed in the first quarter of 2016.

Speaking at the commencement of the project, the state Controller of the Federal Mortgage Bank of Nigeria, Mrs. Mojisola Gbadebo, explained that the project was being sponsored by the bank in collaboration with the Federal Housing Authority.

According to her, a prospective buyer, who must be a contributor to the NHF, stands the chance of accessing a mortgage loan from the bank at six per cent interest rate and 30 years of repayment, depending on the age and income level.

While advising interested members of the public to key into the NHF, Gbadebo explained that the amount to be repaid monthly by the contributor depended on their income and age, adding that the loan was not exclusively for salary earners but all income earners from the age of 18.

The representative of the Federal Ministry of Works and Housing, Mr. Peter Taiwo, reaffirmed the readiness of the partners on the project to realise the set goals, and gave an assurance that quality building materials would be used to ensure that the buyers would get value for their money.

The Managing Director, Meadville Building and Construction Company, Ademola Benson, said the firm would ensure that the project would be completed in the next few months.

He confirmed that everything needed to deliver the buildings had been provided, declaring that the project would complement the efforts of the Ondo State Government in achieving housing for all.

Benson attributed the cause of the delay to paucity of funds, but noted that all obstacles and challenges hitherto hindering the execution of the project had been surmounted.

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