Developer, polytechnic students launch national housing scheme
POLYTECHNICS students across the federation are partnering with a private developer, Messrs Domak Group Limited on a national housing scheme.
The National Association of Polytechnic Students ( NAPS), targets two million students under the Nigerian Polytechnic Students Housing Investment Scheme.
The scheme is meant for monotechnics, other allied National Diploma ( ND) and Ordinary National Diploma ( OND) awarding institutions.
About 20 million polytechnic students and 36 out of the 100 polytechnics in the country have already subscribed to the scheme.
NAPS National President, Benedict Olalere, while speaking in Ibadan during a press conference on “Introduction of Nigeria Polytechnic Students Housing Investments Scheme in all the 36 states and the Federal Capital
Territory ( FCT), said the scheme was born out of passion to secure the future of the polytechnic students through real estate investments.
He said: “The project will give every students access to land in any state of their choice, including FCT. It also allows students to invest in real estate by buying a plot of land with daily, weekly or monthly contributions.
“We negotiated with Domak Group Limited to give opportunity to have a landed property through daily contribution of N350, N2, 450 weekly and N9,800 monthly.”
He said the financial capacity of the students was considered before the agreement was reached.
Domak Group Limited acquired hectares of land for the students’ project in major cities in the country.
Olalere added that the scheme is first of its kind in Sub- Sahara Africa, especially in Nigeria.
He maintained that the project is aimed at curbing social vices among students and shaping the future of graduates.
“Every arrangement has been sealed, the site has been inspected and the mode of payment and registration is online subscription.
“The student is entitled to allocation certificate upon completion of payment within two years, the person gets land documents,” he said.
The students urged the Federal Government to use the scheme to address housing deficit in the country.