Nigerian Mortgage Refinancing Company (NMRC). %

In a bid to bridge over 22 million housing deficit in Nigeria, Echostone Development Nigeria has partnered Lagos State, Family Homes Fund (FHF) and the Nigerian Mortgage Refinancing Company (NMRC).

The firm, in a statement obtained by our correspondent, explained that in a move to reduce housing shortage in the country that it existing agreement with FHF and the NMRC will facilitate the development of hundreds of thousands of homes all over the country.

Echostone, also noted that it recently signed agreements with the Federal Integrated Staff Housing Scheme an agreement to develop 15,000 homes, and a joint agreement with the Nigerian Police Force to build 100,000 homes for the police across the country, among many others.

For instance, the partnership with the Lagos State government has recently delivered a 252 WorldBank EDGE Certified affordable homes in Idale Badagry.

The firm, however, noted that the partnership with Lagos is targeted at providing no fewer than 100,000 affordable homes in 10 years with modern-day technology.

Commenting on the project, Managing Director, EchoStone Development Nigeria, Mr Sammy Adigun, says the project is not only the first-ever in Nigeria to be World Bank EDGE certified, but it is one of only three in all of Africa to meet the advanced certification level for its significant carbon, energy and water savings.

He pointed out that the estate is confirmed to a 53 per cent Energy Savings home, 42 per cent Water Savings and 35 per cent Carbon Savings.

On the importance of the aforementioned figures for Lagos State and the Badagry community, he said that “The EDGE recognition puts Nigeria among leading nations in the world committed to meeting the highest standards of sustainability that support the United Nations Sustainable Development Goals, particularly SDG11, Sustainable Cities.”

The firm director, therefore, explained that the energy savings can equate to the amount of a mortgage payment, each year significantly supporting affordability in the long term for owners, while Water savings can equate to approximately 20,000 gallons of water per the unit, per year.

“Not only is the environment considered, but more importantly, the people who live here will benefit greatly from a higher quality living standard for their families while having the opportunities of lowered utility costs.

“As we all know, housing is at the heart of communities and EchoStone and the State of Lagos can be proud to deliver a community that is not just affordable, but healthy and resilient and is the foundation for education, health and more.

“This housing community is proof that homeowners do not have to choose between affordable housing and quality homes while producing communities with the EchoStone system allows your investment goes further, your water and fixtures to last longer, and your electricity to be optimized – while maintaining cooler and more comfortable indoor temperatures”, he added.

Adigun said that these houses represent the first step, toward the future of Nigeria’s 21st Century economy, and the state government’s commitment to the health and the prosperity of all Nigerians.