The Family Homes Funds (FHF) has said it is investing to secure top quality capacity to deliver an ambitious, affordable housing programme as a key aspect of the government’s Social Intervention Programme.
According to a source in FHF, by 2023, the Family Homes Funds – a special purpose investment vehicle having the Nigerian Sovereign Investment Authority and the Federal Ministry of Finance Incorporated as founding shareholders – aims to have supported the development of over 500,000 homes and 1.5m jobs for Nigerians on low income.
Towards that goal, the Funds disclosed that it has recently completed the construction of 400 homes with an average cost of N3.5m in Grand Luvu, Nasarawa State – part of over 4,000 homes under construction in 5 states namely Ogun, Nasarawa, Kano, Delta and Kaduna.
A further 30,000 homes are at advanced stages of negotiation with development partners and will commence by November 2018. As the new company builds capacity through the ongoing recruitment campaign, it will achieve a program of 80,000 homes by December 2019
The Family Homes Funds (FHF) is a 1 Trillion Naira Federal Initiative established in 2016 to deliver housing for low-income and middle-income Nigerians, nationwide.