The federal government says plans are on the table to set up building materials manufacturing hubs in each of the read more FG mulls setting up building material hubs to tackle housing affordability issues
The Nigerian Federal Government is planning to establish building material manufacturing hubs in each of the six geo-political zones to address housing affordability. These hubs aim to reduce construction costs by lowering the prices of building materials, which have risen due to inflation. The initiative includes fiscal incentives such as tax reductions, customs duty waivers, grants, low-interest financing, and Public-Private Partnerships (PPPs). The hubs will be strategically located within existing trade zones to leverage tax benefits and enhance market access. They will be set up in Abia, Ogun, Kwara, Kano, Gombe, and Delta States. A central oversight committee, comprising representatives from state governments, universities, vocational institutions, and industry unions, will oversee the project. The National Assembly has pledged support through legislative incentives to ensure the initiative's success.
