President of Dangote Group, Alhaji Aliko Dangote has pledged to provide N2 billion fund to the Federal Government to tackle housing problems.

Nigeria needs about 18 million housing units to address the housing shortage of its over 150 million population that is projected to hit about 200 million soon.

Recently, the Minister of Housing and Environment, Amma Pepple said that there was urgent need to address the nation's housing deficit especially in view of the unemployment situation.

The Minister also explained that the housing deficit is a big challenge which could be turned to a job creation strategy in line with the objectives of the transformation agenda and the vision 20:2020.

Dangote said he offered to contribute to the efforts at providing houses as an opportunity to create jobs, according to a statement from the Dangote Group.

He said the N2 billion would serve as a revolving facility to stir the housing and construction industry of the economy and create jobs in different sectors of the industry.

President Goodluck Jonathan, at a recent retreat for the Economic Management Team canvassed the support of the private sector in rejuvenating the economy particularly the housing industry by reducing the housing deficit.

The Minister of housing said the job creation model using home construction will create a value addition and synergy in construction industry as various industry sector operators such as dealers in sand, stone, cement, iron rod, plumbing, electrical and engineering would earn more income from such constructions, thus creating the much needed jobs.

Dangote offered to provide the money to stimulate job creation through the construction of houses on a build- sell-off and replenish basis.

The details and terms of the facilities are being worked out between the business mogul and the Federal Ministry of Housing and Environment so that the scheme could take off as soon as possible.

Alhaji Dangote has always expressed the belief that the future of the country and Africa in general is in the hands of the citizens as no foreigner could love the nation or the continent more than the citizens themselves.

He told a forum recently that he shared in the report of Mckinsey that only Africans can genuinely work towards the development of the continent hence the decision to spread his investment round African countries.

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Dangote is a great man who actualy cares for his people. I hope this money goes to good use and is not siphooned.

He has enough to spend already. Good he is giving back to the economy.

Dangote is a businessman. Pure and simple

I hope he wudnt want to turn it to anoda monopoly by insisting his comp be d sole builders of such houses.In saner climes,Dangote and his conglomerate would av bn fined in d billions for stiffling competition in whatever form and for unethical practices,but here he is a hero and celebrated & has used his 'kill all competition' biz methods to become d richest man in Africa,rubbish

abegi - afte the guys dubious pledge to crash price of cement, now he is giving us another round of bs?

nucca puhleeeze

has he crashed the prices of cement like Commander in Thief Odechukwu Retardeen commanded

How much does this dude pay in tax?

Is he tax exempt?

The combination of Dangote / GEJ bring back memories of 'Fascism'.

His monopolies need to be disbanded before he has the power to control the whole Nigerian market and economy.

Sun of god:

How much does this dude pay in tax?

Is he tax exempt?

The combination of Dangote / GEJ bring back memories of 'Fascism'.

His monopolies need to be disbanded[b] before he has the power to control the whole Nigerian market and economy[/b].

are u sure he doesnt already?

Yah right. Gives 2billion to the FG and they give him unlimited access to the corridors of power, where he can make the money back tenfold.

Look, OUR FG does not need anyones money. They have too much of their own and thats why they continually mis-use the funds.

Thats very good, but the issue now is why channel the money through the FG? i really don't support that.

I feel such fund should be done directly via Local government area or setting up a special fund units to tackle the housing issues. Dangote we beg of you to channel the fund through a more trustworthy channel! Not the FG!!!!!

He will collect it back thru bogus contract.

Had he used d money 2 build d houses, It would hv been better instead of this approach of lookin 4 cheap and imaginary publicity. BTW, is he daft enough 2 know that 'those people up there' will corner the money? Jargons oriented move.

Don't know what to make of this though . I know it's possible he may be 'investing' now for more business profit and goodwill in the future, or he may selflessly and genuinely want to help the less-priviledged (only God knows his true intentions). You can forgive cynics considering the amount of subterfuge and favouritism that's the 'stock-in-trade' of most of Nigerias' wealthy and Business-class.

I feel he still has a long way to go to be a caring Billionaire philanthropist in the mould of Mo Ibrahim and Bill Gates, esp' where his people in the core North are concerned.

But if all these donations of late are a PR stunt, i guess it's working as i must say i'm gradually warming to the guy.

Nice one Dangote.

It is time Nigeria wakes up to reality, we are no longer fools. Dangote is robbing Peter to pay Paul, same vicious circle everyday, Dangote pledges 2 bil to FG? really? Dangote is FG and FG is Dangote, your cement sell in Ghana for 1,350 and sell in your own beloved country for 2,600, who is deceiving who?

This is like when you pay tithe in Church, you do not know who spends the money but most speculate that it is the Pastor. This time most would speculate that it is the lawmakers

Personally, I think it will be better if he builds the houses and donate them to the poor himself.

Anyway, what difference would N2Billion make to government accounts?

though i understand the business sense behind the move its a terrific move the only challenge is he gave the bank of industry 2.5billiion for SME's in the country but till date the BOI have not disbursed these funds to SME's they have been dilly dallying entrepreneurs i hope their would be a better means of disbursement and a move proactive method of disbursement to entrepreneurs

[font=Lucida Sans Unicode]@ It is time Nigeria wakes up to reality, we are no longer fools. Dangote is robbing Peter to pay Paul, same vicious circle everyday, Dangote pledges 2 bil to FG? really? Dangote is FG and FG is Dangote, your cement sell in Ghana for 1,350 and sell in your own beloved country for 2,600, who is deceiving who?[/font]

please tell them, not only Dangote. this type of attitude of robbing peter to pay Paul seems inherent to Nigerians and Nigerian's owned companies, which include MTN and others, they make lots money in Nigeria by hiking price and disobey the laws, and then go to other countries, Eg Ghana sell cheaply and obey the laws. TOO BAD FOR NIAJA

H

Good one, but not the best idea. He should have reduce the price of cement.

2 billion to the  great monopolist is like 1naira in 10,000.

Buying more access to lucrative contracts in the corridors of power.

Why did he not just build some low cost housing units and called it: Dangote estates?

N2Billion to FG? I just hope that Dangote is not using that money to buy up Generator Supply Market o! because if that is the case then Naija people can forget power supply (PHCN) for the next generation.

Dangote pledges N2B to d thieves in d power. They havent accounted for billions recovered as looted funds,what more a paltry N2B ?? This is just. . .arranticus nonsensicus ! 2billion ko,2billion ni. Mtchewww. . .#bangs door on thread

Dangote pledges N2B to d thieves in d power. They havent accounted for billions recovered as looted funds,what more a paltry N2B ?? This is just. . .arranticus nonsensicus ! 2billion ko,2billion ni. Mtchewww. . .#bangs door on thread

Legitimized bribe

unongu:

N2Billion to FG? I just hope that Dangote is not using that money to buy up Generator Supply Market o! because if that is the case then Naija people can forget power supply (PHCN) for the next generation.

Seriki is a great guy anytime. The world's richest black man, and possibly the most humble and likable of them all. He's such a charmer that always knows how to align with any and every government in power, and at the same time manages to deflect ill-will by lending a helping hand to the masses. He's everything that Adenuga is not. Seriki is THE man anytime anyday. . .unlike that unbearably pompous and self-centred gay that owns the worst GSM company in Nigeria.

Sai Seriki!

I hope he gives the cash to the right people/person.