Traders to benefit as ISAMATA, Imo, FMB plan housing estate
By Saby Elemba, in Owerri
The Imo State Amalgamated Markets and Traders Association (ISAMATA), the Imo State government and the Federal Mortgage Bank of Nigeria are collaborating to build a housing estate for traders who have for a long time been hit by acute shortage of accommodation.
The estate, to be called ISAMATA Shared Prosperity Housing Estate, is to be sited in Irete, Owerri West local government area of Imo State.
Irete community serves as the industrial zone of Imo State where most companies and other establishments such as Coca-Cola plant, Camela Vegetable Oil, Dangote Cement depot, Gmicord Aluminum, Nigeria Customs zonal office, among others, are located.
The ISAMATA Shared Prosperity Housing Estate will join other good housing estates like Graceland Estate, also located at Irete, Gold Palm, Bethel Estate, World Bank Estate, Umuguma Housing Estate, to provide decent accommodations for the people.
According to Onwuzurike Chantel Adanna, special adviser, networking, to governor Hope Uzodinma, the ISAMATA Shared Prosperity Housing Estate, which is still under construction, was initiated by Governor Uzodinma to alleviate the accommodation problems of traders in the state, and this is a promise he had fulfilled.
According to Ezeanochie Emmanuel, president of ISAMATA, the essence of developing the housing estate is to ensure that “our numerous members have decent houses and good accommodations because, if you look at the cost of houses in Owerri, it is too hard and disturbing to our members.
“Some of our members have complained that they cannot pay for two bedroom flats in Owerri. And so we said, let us build an estate for our members so that they can have houses and accommodation which they will call their own.
“We have a solid agreement with the Federal Mortgage Bank, that Federal Mortgage Bank will build the estate for traders and the traders will pay instalments for a period of 30 years. And assuming that you start the payment and along the line, you are unable to continue to pay, you can sell the house to people and take the balance,” Ezeanochie said in an interview.
He further disclosed that they had constituted a committee that is working with the Federal Mortgage Bank, and again to work out how much will be the exact worth of two bed room flat, three bedroom flat, bungalow, four room duplex, a three room duplex, “but it must be very, very affordable to traders.”
He stated that adequate arrangements were made to ensure that the houses will be quite affordable to traders who are members of the Imo State Amalgamated Markets and Traders Association.
He commended the state governor for his efforts to bridge the housing shortage in the state and other infrastructural facilities that the governor has done in the markets in the state.