FHF begins talks with states on affordable housing
Nigeria’s social housing initiative – Family Homes Funds (FHF) has begun talks with some state governments to finance a number of affordable homes.
The discussions were currently ongoing with states like Ebonyi, Kogi, Akwa Ibom, Anambra and a number of others. “The objective is that by this time next year, we should have completed or have gone into construction for about 40,000 homes,” according to FHF Managing Director and Chief Executive Officer of FHF, Mr. Femi Adewole.
He spoke during the visit of, the Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed, to Muhammadu Sanusi 11 Royal Estate, comprising about 767 homes in Kano State.
Similarly, the fund also has reached agreements to bankroll projects that will yield over 10, 000 homes in four states. The states are Borno State (4900 homes). Of that, 3200 is replacement homes for Internally Displaced Persons (IDPs) and 1,700 for civil servants. It also signed with Yobe state for 3,600 homes, Adamawa 2,000 and for Bauchi 2500 homes. Adewole stated that the estate commenced in 2018 as a fulfilment of the fund’s mandate to provide affordable homes. The Estate, which is located in Darrmanawa city, is designed to accommodate 757 units of two-bedroom and three bedroom flats.
While speaking at the inspection ceremony, Ahmed said that the housing project is a testimony of President Muhammadu Buhari’s trust in their ability to champion affordable housing provision.
She said: “FHF is a critical part of the Federal Government goal of bridging the housing gap in Nigeria. Affordable housing is one of the core areas of concern for this government and the government is committed to supporting FHF through the provision of funding and supervision.”
“It’s the largest housing fund in the history of Nigeria and if successful, it has the potential not only to change lives but boost the economy and attract investments and mobilise resources through other financial institutions,” Ahmed added.
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