Worried by the inability of the parties involved to deliver the 250 Zuma housing units eight years after its commencement, the Niger State Government has set machineries in motion to recover its investment in the estate.
The Commissioner of Land and Housing, Dr. Peter Sale Sarki, disclosed this after the State Executive Council meeting in Minna.
Sarki explained that the state government in 2005 started a 250 housing unit at Zuma rock valued at N639.7 million to be financed by the Niger State Government, the Federal Mortgage Bank of Nigeria and a private developer.
According to him, the FMBN disbursed N255 million while the Niger State Government provided N100 million.
The private developer added N70 million for the construction of the housing units.
The state government equally paid compensation for the land acquired.
Sarki said only 90 units, comprising of 60 (three bedroom) and 30 (two bedrooms) out of the property were built, thereby effectively putting paid to the joint venture.
The land and housing commissioner said the interest on the loan by the FMBN has amounted to about N300 million, thereby forcing the state government to opt out of the investment and recover its resources.
Though the houses were presently occupied by the police and other uniformed agencies, the commissioner told journalists that the houses were not formally allocated to the occupants.
All efforts to recover the houses from its present occupier through the police high authorities, the commissioner said, had proved abortive hence the resolve to opt for the disposal of the properties at least to recover if not with interest, the capital invested therein.
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