“Why We Financed Goodluck Jonathan Police Housing Estate in Lagos” - ASO Savings Boss

The Managing Director of ASO Savings & Loans Plc, Hassan Musa Usman has revealed that his organisation is resolute in its determination to support any government initiative at p roviding affordable homes for Nigerians at all levels.

He stated this on Friday July 19, 2013 at the official commissioning of the Goodluck Jonathan Police Housing Estate in Idimu, Lagos. At the ceremony which was performed by President Goodluck Jonathan, the ASO Savings boss stated that his firm financed the highly capital intensive housing scheme because the project concept is in tandem with its organisation’s drive at achieving 500 000 affordable Housing for  Nigerians by year 2016.

 “As one of the foremost Primary Mortgage Institutions in Nigeria with the vision “To be the Mortgage Bank of choice”, part of our determination is to tackle the housing needs in Nigeria by partnering with reputable developers, State Governments, Ministries and agencies for the provision of affordable houses for the low and middle income groups.

“This led to our partnership with Remax Realtors Limited and the Cooperative Society of the Nigeria Police for the successful construction of Goodluck Jonathan Police Housing Estate. Remax Realtor Limited is an indigenous, reputable and successful real estate developer. While they are the developers, we provide the finance and mortgage facility for beneficiaries of the housing scheme”, Musa Usman explained.

The scheme is designed to meet the housing needs of officers and men of the Nigeria Police, low and middle income groups among the general public. The scheme which involves the construction of 504 housing units of 3-bedroom flats, consisting of 84 blocks (or 42 clusters of 2 blocks each sharing the same staircase) on 3 levels (ground floor and 2 suspended floors), is being constructed in phases.

Each of the blocks contains 6 flats with a gross floor area measuring approximately 115m² each.  The size of the land for the project is 11.431Hectares.

In his goodwill message at the ceremony, the highly elated President Goodluck Ebele Jonathan who flew to the venue in an Air Force Helicopter thanked all the dignitaries that were in attendance, especially the Oba of Lagos, Oba Rilwan Akiolu. He explained that the project is a case study of how Public Private Partnership (PPP) works in achieving socio infrastructural development in a nation.

“It is a successful outcome of PPP initiative of this administration. We request for more of this type of partnership from the private sector. This project has not only guaranteed affordable homes for both working and retired men of the Nigerian Police, and the Nigerian masses at large, the project also provide job opportunity for those that worked at the site.

The President revealed that his government is presently working on how to re-establish the Nigerian Mortgage Re-investment Company which will provide some financial stability and security in the mortgage industry. He emphasised that sustainable economic growth is only achievable in an atmosphere of peace; therefore the Police needs to be taken care of so that they can concentrate on their job.

“The condition of Police Barracks across the country is not at best but we are committed to refurbishing them. We need the support of the private sector at supporting government initiatives like this.

“Let me thank the Inspector General of Police for finding me worthy to be immortalized. I know that leaders are normally remembered for their good deeds after leaving office. But you chose to recognise our efforts at transforming every facet of the Nigerian state”.

President Jonathan, supported by the Inspector General of Police, M.D. Abubakar; Honorable Minister for Police Affairs Navy Captain Caleb Olubolade; Former Inspector General of Police and Honourable Chairman, Police Service Commission Sir (Dr.) Mike Okiro CFR, NPM, mni; Chairman of ASO Savings & Loans Plc Mr. Olatunde Ayeni; Chairman of Remax Realtors Limited Mr. Toyen Sam Folayan; and the MD / CEO Mrs. Adefunke Adesoji, cuts the tape to formerly commission the first phase of the estate.

Other eminent guests at the highly auspicious event for the men of the Nigeria Police were the Oba of Lagos, Oba Rilwan Akiolu the 1^st; Minister of Industry, Trade & Investment Dr Olusegun Aganga; Chairman, Senate Committee on Police Affairs, Senator Paulinus I. Nwagwu; Chairman, House Committee on Police Affairs Hon. Usman Bello Kumo and all the Service Chiefs.

The first phase comprised of a 200 housing units 2 and 3 bedroom block of flats. The next phase will produce a total of 304 housing units bringing the total to 504 housing units.

The Police, according to the Inspector General Abubakar, would continue further with the project partners to replicate that type of housing estate across the country for its men and other Para military officers.

It will be recalled that ASO Savings & Loans Plc is already in partnership with several State Governments and establishments to finance and build massive housing schemes for civil and public servants across the country.

Top among such housing schemes development with State governments are Akpabuyo Housing Estate in Calabar; Oda Housing Scheme in Akure; Ibadan Transformation Estate, MyHouse Purchase Programme in Abia, Affordable Homes Scheme, Jabi, Abuja etc.

Public-Private Partnership offers the Nigerian government a huge relief from the biting effects of the global financial crisis even as it gives the private sector a greater stake in the management of the Nigerian economy, specifically in the area of infrastructure provisioning, housing, urban development and management.

President Goodluck Jonathan in his drive at achieving his transformation agenda has on so many occasions, called on the private sector to partner with his government in order to develop the economy. And one sector critical to the transformation drive of the government is the Housing sector.