Nigeria has signed US $30m deal with a public housing finance company, Family Home Fund (FHF) Ltd to construct 2,600 affordable housing units across Yobe State
Nigeria’s Yobe State has signed US $30m deal with a public housing finance company, Family Home Fund (FHF) Ltd to construct 2,600 affordable housing units across the state. The deal was signed by the Solicitor-General, Yobe State Ministry of Justice, Hadiza Alkali, and the Managing Director of Family Homes Funds Ltd, Femi Adewole, in the presence of Yobe State Governor Mai-Mala Buni.
Affordable housing units
According to the agreement, the houses will be built in seven locations around the state. They will comprise of two and three-bedroom bungalows, will be completed in 18 months. According to the governor, the mass housing schemes reflected the policy of his administration to “provide quality and affordable housing to the people of our state.
Governor Buni added that the project are also in with the United Nations Sustainable Development Goals (SDGs) and the houses will be spread across the three senatorial districts of Yobe and the state capital, Damaturu.
“We believe that affordable housing is a key marker of social progress. When people have comfortable accommodation, they are more likely to have the right frame of mind to engage in meaningful socio-economic activities,” said Governor Buni.
Distribution of the houses
500 units will be built in Yobe Zone A with Gaidam and Buni-Yadi Towns having 250 units each. In Zone B, 300 units in Potiskum and 200 units in Damagum Town of Fune Local Government area will be constructed while in Zone C, the houses will be developed in Gashu’a Town with 250 units, Nguru with 200 units and Machina with 150 units.
The State Capital, Damaturu will have 1000 units of the houses. Of this number, 500 will be sited along Potiskum road, 250 along Maiduguri road and the remaining 250 units along Gujba road.
Family Homes Funds Ltd will provide financing and technical support to the Yobe State Government, with a repayment period for the financing loan at ten years. FHF is a Nigerian government initiative set up last year as a partnership between the Federal Ministry of Finance and the Nigerian Sovereign Investment Authority as founding shareholders to provide affordable housing for millions of Nigerians in low to medium-income groups.