Jonathan to inaugurate 324 housing units in Enugu

The 324-unit Elim Housing Estate in Enugu will be inaugurated on May 23, 2014 by President Goodluck Jonathan, the Minister of Housing, Lands and Urban Development, Mrs. Akon Eyakenyi, has said.

The minister disclosed this while speaking during an her inspection tour of the estate at the weekend, the minister

The estate was developed by the Managing Director of NBP Projects Limited.

According to the managing director of the developing company, Rev. chukwu Chime, said the Federal Mortgage Bank of Nigeria funded the estate.

Chime said the estate was designed to meet the needs of the middle and low income earners.

He also said the homes in the estate ranges from one-bedroom and two-bedroom terrace flats to three-bedroom fully detached bungalows.

Chime said further that each of the units costs between N3.5 million and N10 million.

The NBP chief said the prices of the house were set by the FMBN, adding that the bank had provided for easy purchase of the units with minimal initial deposits that were as low as 10 per cent.

Chime said: “Besides, there is a stable mortgage loan repayment rate of six per cent per annum (on the balance) for an extended period of up to 30 years subject to the applicant's age.”

Eyakenyi said the successful completion of the estate was a major project under the current administration's drive to provide affordable housing for Nigerians.