FG to Issue Title Documents to PHCN Successor Firms

Mrs. Akon Eyakenyi, minister of Lands, Housing and Urban Development, has said the ministry is set to commence the issuance of Certificates of Occupancy to the successor companies of the Power Holding Company of Nigeria (PHCN) in respect of their 635 core assets.

The core assets belong to 11 electric power distribution companies in the Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt and Yola zones.

Eyakenyi stated this at the 2014 Ministerial Press Briefing held by the ministry in Abuja on Thursday.

She added that the Federal Government was set to provide about 10,000 housing units to Nigerians across the federation through the Nigeria Refinance Mortgage Scheme, adding that the vision of the Federal Government was to provide affordable housing to Nigerians.

“The Ministry has commenced the process of issuing Certificates of Occupancy in respect of the 635 core assets of the successor companies of the Power Holding Company of Nigeria. These core assets belong to 11 electric power distribution companies in the Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port- Harcourt, and Yola zones,” she said.

She also disclosed that the ministry was working with the Ministry of Finance to ensure the effective take-off of the housing project.

She said, “Under the Transformation Agenda and Vision 20: 2020, the provision of accessible and affordable housing is one of the strategic national imperatives for guaranteeing the well-being and productivity of the citizenry.

“The Nigeria Mortgage Refinance Company (NMRC) was officially launched by the President on January 16, 2014 to increase mortgage penetration in the country. The Ministry is collaborating with the Coordinating Minister for the Economy/Minister of Finance to ensure the effective take-off of the project.

“While the Federal Ministry of Finance through the NMRC is handling the demand side of the provision of 10,000 mortgages as a pilot scheme, the Federal Ministry of Lands, Housing and Urban Development is facilitating action on the delivery of 10,000 housing units that the mortgage facility of the NMRC will support.

“A Ministerial Committee under the Chairmanship of the minister is responsible for working out the modalities for the delivery of the 10,000 units over the next few months. We are encouraged by the large number of competent developers and builders that showed interest in participating in the process by responding to our advertisement for expression of interest which was published in the media.”