Social Investment Programme: Nigerians Can Own A House With N30k Salary
SOCIAL INVESTMENT PROGRAMME – The Acting President, Yemi Osinbajo is a man known across the country for his huge sense of humour and so it did not come as a surprise when he announced that under the present administration, ‘anyone’ who earned a salary of as little as N30,000 could own a house.
Although unimaginable, Mr. Osinbajo went on to indicate that the Federal Government’s Social Investment Programmes have been very successful in all states across the country and that even those who are not All Progressives Congress (APC) members are already started taking credit for the success.
The Federal Government, he said, under President Buhari, has kept a whopping N100 billion for the fund – Family Home Fund under its Social Investment Programme (SIP).
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Mr. Osinbajo revealed this at an event organised at the old Banquet Hall of the Presidential Villa, Abuja which was tagged “A Smile For Every Nigerian”.
The event was held to commemorate the 2nd year of President Muhammadu Buhari’s administration and to also showcase the achievements of the SIP .
Programmes incorporated under the SIP include the Family Home Fund, Conditional Cash Transfer, National Homegrown School Feeding Programme, N-Power and General Economic and Empowerment Programme.
The VP also indicated that this Social Investment Programme fund was the largest social intervention efforts anywhere in the world.
“There is also an aspect of this Social Investment Programme that has not be mentioned; this is N100 billion set aside for the Family Home Fund, our Social Housing Project.
“The N100 billion is a yearly contribution to our N1 trillion social housing fund. This is the largest in the history of the country.
“The World Bank, AFDB, are contributors to the fund.
“From this fund, developers of real estates for social housing will borrow 80 percent of cost of project and counter fund with their own 20 percent.
“The same fund will enable us to provide inexpensive mortgages for hundreds of thousands across the country who want to own homes on their own.
“Anyone who can afford 30,000 a month will be able to buy a home under our new social housing fund scheme.’’
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He also highlighted the impact of the youth empowerment programme, N-Power also initiated under the Social Investment Scheme.
He said the government did not do Nigerian youths a favour by initiating such programmes rather the Nigerian youths deserved even more of the morale boosting initiatives as citizens of the country.
“We do not consider that this programme is a favour that is done to you. It is not.
“You deserve this programme because you are citizens of this country; this country can provide and we will provide for all those who need the help.
“We are ramping up on the CCT, GEEP, and the Home Grown School Feeding; our targets are clear, soon enough we will put smiles on the faces of millions more.
“The N-Power programme is the largest post tertiary jobs programme in Africa. We now know that we can train large numbers of people electronically.
“We have demonstrated that a transparent process of employment is possible.
“All of these young men and women have testified that they knew nobody, paid nobody to get the jobs they now have shown us that it is possible to run a programme that is transparent
“We have achieved great success in our financial inclusion efforts by bringing in many especially the extremely poor in the hinterlands into the formal banking system.
“Beneficiaries of the conditional cash transfer programme, home grown school feeding vendors and cooks, now have BVNs and bank accounts.
“We have also demonstrated that electronic payment on such a huge scale, across the nation, is possible.’’
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He commended the team working relentlessly to push the the Social Investment Programmes, and expressed the government’s appreciation to the Special Adviser on Social investments, Mrs. Maryam Uwais, for her efforts, while urging her to keep the flame aglow.