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Affordable Housing

Family Homes Funds Partners with C-STEMP on Affordable Housing, Jobs Creation

Federal government housing intervention program, Family Homes Funds has signed a Memorandum of Understanding (MoU) with Construction Skills Training and Empowerment Project Ltd/Gte C-STEMP, an organization with a vision to build a pool and database of certified artisans with the requisite skills to meet industry needs that translate to better quality of work and life for all stakeholders.

Through strategic partnerships with various players in the Housing sector and some of the world’s leading Development Finance Institutions, Family Homes Funds has an ambitious commitment to facilitate the construction of 500,000 homes by 2024 and whilst doing that enable the creation of at least 1,500,000 direct and indirect jobs.

As part of this commitment, the FHFL is seeking to work with developers to create vocational jobs and empowerment programs and products for low to medium-income earners currently in or potentially interested in building a career in the construction trades.

 

As part of this empowerment program, the FHFL recognizes the need to incorporate training, assessment and certification as a condition for beneficiaries to access its programs and to ensure that only skilled labour are utilized on its projects. It is on this basis that it is now partnering with C-STEMP – to provide affordable and quality homes while creating jobs for highly qualified persons.

In partnership with the Central Bank of Nigeria, Ministry of Finance and international financial institutions, Family Homes Funds has become a pivotal force in delivering affordable housing to Nigerians through multiple schemes including Help-to-own, Rent-to-own, affordable and flexible mortgage plans among others.

The Funds has so far developed at least 1000 homes with another 3000 at different stages of development. They have been able to create about 1400 jobs through these projects. Over 500 units have been completed in Nasarawa state, 750 in Kano, 650 in Delta and many more all over the country.

READ MORE:  BoA says project’s affordable housing is a token gesture

According to Femi Adewole, the Fund is here because it is not enough to supply houses without taking care of the demand side. Their role is primarily to meet affordable housing demands in Nigeria.

By Ojonugwa Felix Ugboja

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