Lafarge dedicates N1.3bn to provide affordable housing for low income earners

As part of its avowed promise to cushion huge housing defects in the Nigeria, Lafarge Cement WAPCO Nigeria, the second largest cement maker in the country, has committed N1.3 billion to ensure that low income earners around the country have affordable housing.

Temitope Oguntokun, corporate brand manager, Lafarge Nigeria, said 650 people had already benefitted from the scheme, stressing that plans were on the pipeline to ensure that 30,000 Nigerians eventually derive benefits from it.

‘’We are working to ensure that Nigerians get affordable housing. You know there is housing deficit in the country, so Lafarge is working to provide as much assistance as possible,’’ she said.

The World Bank estimates that the cost of bridging Nigeria’s 17 million housing deficit is N59.5 trillion. This is close to the estimates of the Federal Mortgage Bank of Nigeria (FMBN) which earlier put it at about N56 trillion.

Gimba Ya’u Kumo, managing director, FMBN said the figure was based on a conservative cost of construction at N3.5million per unit.

Lafarge WAPCO and other major cement makers are key players in the built sector. The firm has 19,055 employees in the Middle-East and Africa. Thirty-four percent of sales in the company happened in both regions, BusinessDay has learnt.

Lanre Opankunle, general manager, industrial performance, said the company is currently expanding and is planning new plants in subsidiaries of Ashaka Cement and United Cement Company of Nigeria (UniCem).

 

ODINAKA ANUDU