The Ekiti State Government has secured a partnership with the United Nations Office for Project Services (UNOPS) and Sustainable Housing Solutions (SHS) Holdings to invest up to $2 billion to build 50,000 affordable homes with renewable energy from 2020-2030 in Ekiti State.
According to a statement made available on the UN agency website, it states that “Part of UNOPS Sustainable Infrastructure Impact Investments (S3I) initiative, the agreement will help address housing shortages in Ekiti State, with a focus on sustainability and local economic development.”
Nigeria’s Ekiti State will join one of the largest affordable housing initiatives in the world, following a new agreement that will see at least 50,000 affordable homes built over the next decade.
Reacting to the partnership, Ekiti State Governor, Kayode Fayemi who was excited said the project will deliver affordable housing to the people of Ekiti State.
“We are very excited to partner with UNOPS and SHS to deliver affordable housing to the people of Ekiti State,”
“This is how our promise of developing Ekiti and improving the lives of the people can be achieved. This partnership has come at an important time, during the COVID-19 pandemic, which has reminded us of the need to deliver quality social infrastructure to the people,” added Dr Fayemi.
The affordable homes will feature renewable energy and disease preventative technology – including solar panel roofs, waste-to-energy technology and mosquito-repelling coatings.
The initiative is expected to create thousands of local jobs and spur economic growth among a host of local industries.
According to the Chief Executive of UNOPS, Vitaly Vanshelboim: “We are very pleased to support this contribution to Nigeria’s national development priorities and in particular, to help meet the critical need for affordable housing, through innovative approaches to construction and mortgage financing.”
“UNOPS is strongly committed to helping find new ways to finance inclusive, resilient and sustainable development activities that generate positive social, economic and environmental impacts,” added Mr Vanshelboim.
UNOPS and SHS will seek to mobilize resources from third-party investors to fund the initiative – which has an estimated gross development value (based on the sales value of completed homes) of up to $2 billion.
To date, UNOPS S3I initiative has committed to delivering at least a million homes in multiple countries spanning three continents, to be built over the next decade.
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