Low Income Earners, Non-indigenes, Others To Benefit From Finitri’s Housing Estate – MD

BY AUSTIN AJAYI, YOLA – Low income earners, non-indigenes and the business community would be among the first beneficiaries of the first phase of the 2000 Housing Scheme being constructed by the Ahmadu Finitiri-led administration in Adamawa State.
The Managing Director of Adamawa Home and Savings Limited, Dr. Norris Stanley, who announced this in Yola while fielding questions from journalists, said a technical committee has been set up for the disposal of the 2000 housing units under the Adamawa State low cost housing scheme.

Stanley said the technical committee would work out the modalities for the equitable disposal of the houses and will come out with actual amount of the apartments
He also said that the phase 1000 housing units have already been fully subscribed, adding that the cost of construction and land have been heavily subsidised by the Adamawa State government.
Stanley noted that there is however intense pressure from the public for more houses against the backdrop of influx of people into the state from neighbouring states due to the insecurity challenges in the North East.
According to Stanley; “The State has been having the challenge of housing deficit as the previous housing estate built by former Governors Boni Haruna and Murtala Nyako, can no longer serve the increasing number of civil servants in the state and the influx of people from the northern parts of the state and other states”.
He commended the efforts of Governor Fintiri for taking the giant stride in the construction of the 2000 housing units including the first phase of 1000 units situated at Malkohi area in the state capital in addition to the 1000 units spread across the 21 Local Government Areas of the State.
Stanley further said; “The main target of the housing project are civil servants. That was why the pricing of the units was put into consideration based on the earnings of the civil servants and other low income earners”.
The Managing Director said that the major challenge of the Adamawa Home and Savings limited has been the need to meet up with its recapitalisation requirement as enshrined by the Central Bank of Nigeria’s directives.
He however said that under the present administration, arrangements have been concluded to perfect the recapitalisation requirement of the mortgage institution, adding that the housing project is expected to be completed by June this year.