Family Homes Funds to deliver 40,000 homes by 2020
The Managing Director of the Family Homes Funds, Femi Adewole, says the target of the FHF by this time next year is to complete or commence the construction of about 40,000 affordable homes across the country.
Adewole said this yesterday during a courtesy call on the FHF in Abuja by a team from Media Trust Limited, publishers of the Daily Trust and other titles.
The Family Homes Funds, dubbed sub-Sahara Africa’s largest housing fund, is a social housing initiative promoted by the Federal Government as part of its Social Intervention Programmes.
Adewole said the fund, in just a year of existence, had about 4,000 homes currently at various stages of completion across five states of the federation.
According to him, the FHF is probably the largest building programme in Nigeria in a very long time.
He said: “In Ogun state, we are doing 1,070 homes. In Nasarawa, we have completed about 580 and in Kaduna we are about 60 per cent completion of about 620 homes. In Kano, we are building about 767 homes. In Delta state, we have about 620 homes.”
He said FHF had reached agreements with some state governments to finance a number of affordable homes.
“We have an agreement with Borno State to finance about 4900 homes. Of that, 3200 is replacement homes for Internally Displaced Persons (IDPs) and 1,700 for civil servants. We have also signed with Yobe state for 3,600 homes, Adamawa 2,000 and for Bauchi 2500 homes,” he added
He said 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,” he said.
He said the FHF would soon roll out a rental housing scheme where Nigerians could move to their houses with just a month rent and a month deposit and with an option to buy the house.