Federal Government social housing scheme, Family Homes Funds has on Wednesday signed a deal worth up to N8.3 billion with the Adamawa state government to provide 2000 homes for civil servants in the state and other low income earners.
In addition, Family Homes Funds will also provide financing through the Help to Own (HTO) package to make it easy for civil servants and others to purchase these homes.
For all projects undertaken by Family Homes Funds, the critical element of its execution includes the provision of jobs, hence, it is also important to note that these 2000 homes mean at least 6000 jobs for direct and indirect labour forces.
Through the scheme’s Help To Own package which will be part of this project, the 2000 HTO loans mean at least 2000 mortgages treated, making it very easy for the beneficiaries to own a decent home at the most affordable rates and conditions available in the country.
As an all-inclusive project, Family Homes Funds is developing the project in a way that Internally Displaced Persons (IDPs) in those areas can resettle into normal living as well.
Barely a year since its kick-off, Family Homes Funds has financed the development of at least 1050 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.
Most states that are in partnership with the Fund are now keying into the program to provide housing for their staff through the fund. In Borno state, the Fund is providing about 4700 homes, with 3000 of those being very low cost homes for Internally Displaced Persons (IDPs).
The Fund which also recently signed a ground-breaking deal with Yobe state to provide up to 2600 homes, believes that its projects including the one now initiated in Adamawa will improve the lot of the beneficiaries whom have always yearned to own their own homes.