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Family Homes Funds Sign N10.8bn Deal with Yobe for 2,600 Housing Units

A N10.8 billion worth deal has been signed by Family Homes Funds and Yobe State Government yesterday for the construction of 2,600 urban and rural housing units.

The agreement, signed in Abuja between the state government and Family Homes Fund Ltd, has 10-year repayment tenure.

Governor Mai Mala Buni, who signed as a witness, said the project was in line with the United Nations Sustainable Development Goals, noting that his administration’s guiding principle considered affordable housing a key marker of social progress.

He said: “When people have comfortable accommodation, they are more likely to have the right frame of mind to engage in meaningful socio-economic activities,” adding that as such the housing units would be spread across all parts of the state

. “Accordingly, we will build 500 units in Yobe Zone A with Gaidam and Buni-Yadi Towns each having 250 units. In Zone B, we will construct 250 units in Potiskum and 200 units in Damagum Town of Fune Local Government area. In Zone C, we will cite the houses 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 cited along Potiskum road, 250 along Maiduguri road and the remaining 250 units along Gujba road. When completed, the houses will be sold to interested people across the state at affordable rates,” he said. He said the foundation laying ceremony would hold in Damaturu on September 5 as part of activities to mark his administration’s 100 days in office.

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The Managing Director of Family Homes Fund Ltd, Femi Adewole, said the firm envisaged a construction period of 18 months and would provide funds for the project. He added that the firm would also provide technical supports to deliver homes on time and at the right quality. The Solicitor-General and Permanent Secretary of the Yobe Ministry of Justice, Hajiya Hadiza Mohd Umar, signed on behalf of the state; while Adewole signed for the Family Homes Funds.

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