Nigeria’s largest social housing fund, Family Homes Funds Limited (FHFL) has announced an investment of over N19.9 billion across six states for the development of 2,754 low-income homes.
The homes are being developed in partnership with the state governments, private developers, and a women’s housing society in Kaduna. The houses 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 is scheduled for completion by April 2023 will provide a range of housing types, especially two and three-bed semi-detached homes.
In addition to the homes, the investment will create at least 11,016 jobs (professional, skilled, and unskilled workers). Further impact on local economies is expected due to a requirement for the projects to prioritise the use of local materials.
Developed with a full range of infrastructure including healthcare centres, schools, markets, and recreation areas, the programme is 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 – to provide 134 new homes for women of very low-income, including widows, market women etc. as part of a wider commitment to promoting access to housing for disadvantaged groups.
Speaking on the Investment, the Managing Director, FHFL, Mr. Femi Adewole, said: ‘’This programme is being implemented under the National Mass Housing Programme, an initiative to improve the quality of life of Nigerians on low-income and create 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 partnerships with other state governments to ensure the equitable spread of the programme.
‘’We are excited about the opportunity for collaboration with the Adashe Women Housing Society in Kaduna. Unfortunately, women continue to experience significant barriers to accessing housing on their own. In many of our cities, landlords will often refuse to rent a home 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 husband dies 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 a safe place to raise their family. It is a partnership we hope to grow across various states of the Federation.”
All the homes upon completion will be sold to the low-income beneficiaries including civil servants and the members of the public with repayment periods of up to 15 years with monthly repayments from N25, 000.