The Federal Government through the Family Homes Funds Limited FHFL, has disbursed about N50 billion in funding for building of affordable houses for Nigerians.
The General Manager of FHFL, Mr Enesi Makoju, made this known while delivering a lecture at the Real Estate Developers Association of Nigeria’s 2020 Expo in Abuja.
Makoju during the lecture, stated that FHFL was set up in September 2016 with the Federal Ministry of Finance and Nigeria Sovereign Investment Authority as founding shareholders, adding that the agency remains committed to the provision of affordable housing to Nigerians.
“FHFL is committed to seeing the development of 500,000 homes and in the process, creating 1.5m jobs. To date FHFL has received about NGN 50 billion in funding from the Federal Government most of which has been utilized in providing Construction Financing for various Affordable Housing Projects across Nigeria” he said.
While commenting on the achievements of FHFL, Makoju explained that the Fund, through its Affordable Housing Fund has seen to the delivery of over 2,159 completed houses ready for occupation and over 11,000 houses committed to construction financing in under 3 years of operations.
He stated some of the completed projects to include 582 housing units in Grand Luvu, Nasarawa, 476 units in Family Housing Estate, Delta, 320 units in Gidan Iyali Estate, Kaduna, 312 units in New Makun, Ogun, and 469 units in Muhammed Sanusi II Estate, Kano, with 1454 other units nearing completion across the aforementioned states.
Makoju however stated that around 13,520 units are the Fund’s committed projects scattered across the states of the Federation, adding that the various initiatives of the Fund include, Affordable Housing Fund, Help-To-Own Fund, Rental HSG Fund, Land Development Fund amongst others, which have been birthed to make affordable housing in Nigeria a reality.
