• Monday, July 15, 2024
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FHFL commits N19.9bn to provide 2,754 homes for low-income families

FHFL commits N19.9bn to provide 2,754 homes for low-income families

Family Homes Funds Limited (FHFL), Nigeria’s largest social housing fund, says it is investing over N19.9 billion, across six states of the federation, into the development of 2,754 homes for low-income families.

This, the Fund explains, is being done in partnership with the respective state governments, private developers, and a Women Housing Society in Kaduna.

According to officials of the Fund, the 2,754 homes which are spread across the states of Akwa Ibom (650 units); Enugu (250 units); Kebbi (620 units); Zamfara (600 units); Kano (500 units); and Kaduna (134 units) will enable thousands of low-income families to own their own homes.

The construction process, which has started and scheduled for completion by April 2023, will provide a range of housing types, especially 2 and 3 bedroom semidetached houses.

In addition to the homes, the investment will create at least 11,016 jobs for professional, skilled, and unskilled workers. Further impact on local economies is expected due to a requirement for the projects to prioritize the use of local materials.

The houses, according to the officials, will be developed with a full range of infrastructure including healthcare centers, schools, markets, and recreation areas. The programme will be creating homes for civil servants, artisans, traders, cooperatives, and local people on low-income.

The investment in Kaduna is a partnership with the Adashe Women Housing Society and will be providing 134 new homes for women on very low-income including widows, market women etc. as part of a wider commitment to promoting access to housing for disadvantaged groups.

“This programme is being implemented under the National Mass Housing Programme (NMHP), an initiative of President Muhammadu Buhari’s administration as part of its commitment to improving the quality of life of Nigerians on low income,” Femi Adewole, FHF’s Managing Director, explained.

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Adewole added that the initiative would also be creating the much needed jobs for local people. “We are delighted to be collaborating with state governments and private developers to help 2,754 families own their homes at a price they can afford. We continue to seek partnership with other state governments to ensure equitable spread of the programme,” he said.

The managing director noted that the fund was particularly excited about the opportunity for collaboration with the Adashe Women Housing Society in Kaduna, pointing out however that women continue to experience significant barriers to accessing housing on their own.

“In many of our cities, landlords will often refuse to rent a homes to a woman without a husband. Even worse, it is still a common occurrence for women to be forced to leave the family home with their children if their husbands die because their names are not on the title or lease documents.

“This partnership with Adashe will ensure that 134 women can own their own homes and secure and safe places to raise their family. It is a partnership we hope to grow across various states of the Federation,” he assured.

He said that all the homes, upon completion, would be sold to the low-income beneficiaries including civil servants and the members of the public with repayment periods of up to 15years with monthly repayments from N25,000.

The activities of the Fund is in line with its mission and mandate. Established by the Federal Government of Nigeria under the leadership of President Muhammadu Buhari, FHF is intervening in housing delivery through affordable housing investment to also help reduce poverty by strengthening the capacity of the market and the partners.

The investment and partnership which is the latest of the Fund’s numerous commitments, mark an important step towards the government’s mission to deliver up to 300,000 new homes for Nigerians with the most need for them, especially the most vulnerable groups including older and disabled people with support needs.

The Fund is currently working with state governments and private developers across the country to facilitate the construction of affordable homes for people on a modest income, who can also off-take these homes with financial assistance from FHF’s Help To Own Programme.

It has now completed up to 13,543 homes across nine states, and another 20,640 commencing building works in 2022. These affordable housing developments have created more than 64,000 direct and indirect jobs, helped attract businesses to the areas, and built local wealth.