Business
Automobile Union Lauds FG Over Car Purchase Scheme
The Automobile
Boatyards, Transport, Equipment and Allied Senior Staff Association (AUTOBATE) said the Federal Government initiative to float a car purchase loan scheme will cushion economic recession.
Acting General Secretary of AUTOBATE Sola Olorunfemitold newsmen in Lagos on Thursday, that the automobile sector was facing huge challenge and needed support.
Our source recall that the Director-General, National Automobile Design and Development Council, Aminu Jalal said that the scheme would be inaugurated soon to help citizens acquire new made in Nigeria cars.
The government said that the scheme would be funded at a cost of N7.5 billion as part of its strategy to empower Nigerians to own new cars.
Olorunfemi said that if such loan was accessed, a lot of cars would be produced with increased patronage as opposed to imported second hand ones.
He said that the association had been canvassing for such move to boost the automobile industry because of various problems bedevilling it.
“In the automobile sector, we have lost about 10,000 workers from November 2015 to date due to economic instability. We appreciate government effort in boosting the sector,’’ he said.
The union spokesperson said that the scheme, when inaugurated would create employment, promote manufacturers and patronage of standards.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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