Domak Shelter, a real estate and investment company in partnership with the National Association of Polytechnic Students (NAPS) has unveiled the Nigerian Youth/Students Land and Housing Investment Scheme to cater for the housing needs of polytechnic students.
Mr Kingsley Azonobi, Chairman, Domak Group, at the endorsement of the project in Abuja on Tuesday, said the project was a foundation upon which students could advance the course of their future.
Azonobi said that the project would also provide a platform to secure the future of polytechnic students after their academic life.
According to him, Nigeria youths make up 70 per cent of the nation’s populace and their neglect is what account for under development and poverty that has sank deep into the foundation of this nation.
He said it was however worrisome to see that 70 per cent of the components of the populace don’t have a stake in governing machinery.
He called on stakeholders to give hope, life, value and capacity to the youths by investing in their future.
In the same vein, Mr Olalere Adetunji, President of NAPS said that the scheme would allow polytechnic students to secure their future while still an undergraduate.
Adetunji said the scheme would accommodate over 2 million polytechnic students adding that the mode of payment and registration could be done online.
He said that the scheme would also help to correct social vices among the students and as well secure their future.
According to him, considering the housing deficit in Nigeria between 1994 till now, there is 700,000 housing deficit annually which the provision of 100,000 units of housing by the government cannot meet.
Adetunji said there was however need for individuals and bodies to rise up to the need of housing provision for low income citizens which the polytechnic students fall within.
“ In 1992, the Federal Government launch an housing scheme called Home Savings Scheme, which was designed for civil servants alone.
“ After a critical research of the success and failure of the Federal Government Housing since 1992 till now, the leadership of NAPS in partnership with Domak Shelter came up with a better idea for the entire polytechnic students.
“ In the pursuit of better opportunity for the polytechnic students, the idea of creating an housing investment scheme was born which allow students to invest in real estate by buying a plot of land with a daily, weekly or monthly contributions.
“NAPS negotiate with Domak Shelter to give opportunity by allowing soft payment for studs such as a daily contribution of N350, N2,450 on weekly basis and N 9,800 on monthly basis depending on the financial strength of students,” he said.