Housing Development In Nigeria Gets Boost From Shelter Afrique And Unity Bank

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.