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In separate announcements but similar interest, Shelter Afrique has committed to invest N15.6 billion for housing projects in Nigeria, while Unity Bank is investing N1.5 billion to develop 112 housing units in Lagos. This comes after the recently concluded Presidential Stakeholders’ Retreat on Housing and Urban Development, where President Jonathan promised work focused on reducing housing deficit in the country. Speaking about their move, the Executive Director of Shelter Afrique, Allasane Ba, said, “On top of this, we will give line of credit to the Federal Mortgage Bank to enable it give mortgage to more developers.” Unity Bank’s Regional Director for Ikeja, Yemi Adeyinka, for their investment said, “The bank is involved in financing 112 housing units comprising 84 units of four-bedroom and 28 units of three- bedroom apartments in Lekki area of Lagos. The project is worth N1.5 billion.

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This article was first published on 13th November 2012 and updated on November 23rd, 2012 at 3:09 pm

Comments (1)

One thought on “Housing Development In Nigeria Gets Boost From Shelter Afrique And Unity Bank”

  • I will like to know how this will solve accommodation problem, how can accommodation be cheap or this is one of their wuru wuru schemes again.

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