FG Set To Issue C of O To Power Firms

The Federal Government
has announced its readiness to commence issuance of Certificate of Occupancy to the successor companies of the defunct Power Holding Company of Nigeria in respect of 635 core assets.
The assets belong to the Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt and Yola Electric Power Distribution Companies.
The Minister of Lands, Housing and Urban Development, Mrs Akon Eyakenyi, who announced this at the 2014 Ministerial press briefing held Thursday in Abuja said the Federal Government is set to provide about 10,000 housing units across the federation through the Nigerian Mortgage Refinance Company.
She said, “the Ministry has commenced the process of issuing Certificates of Occupany 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”.
The Minister stated that her ministry was working with the Ministry of Finance to ensure effective take-off of the housing project.
She noted that under the transformation agenda and vision 20:2020, the provision of affordable housing is one of the strategic national imperatives for guaranteeing the well-being and productivity of the citizens.
She said while the Federal Ministry of Finance, 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 Nigerian Mortgage refinance Company 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”, she said stressing that government was encouraged by the large number of competent developers and builders that showed interest in participating in the process by responding to its advertisement for expression of interest published in the media.