The housing gap in Kano State is set to be narrowed following the commissioning of a housing estate dedicated to 469 low income earners in the state.
President Muhammadu Buhari on Monday commissioned the Family Homes Estate in Darmanawa, Kano, during a two-day working visit.
The Buhari led government initiated programmes with the aim to bridge Nigeria’s housing deficits of over 20 million.
The Board of the FHFL in 2021 approved financing for about 4,201 homes in Kano, Osun, Katsina, Enugu, Plateau, Abia and Kebbi States under the National Social Housing Programme (NSHP).
THE WHISTLER reports that the project was expected to last for 15 months beginning from September 2021.
According to the plans, the low income earners will pay a starting price of N2m depending on the type of building.
They also have a 15-year repayment period with monthly cost to potential buyers “expected to be as low as N11,000, providing access to Nigerians on minimum wage,” the FHFL had said.
During the commissioning, it was revealed that the prospective buyers are expected to be civil servants, traders, and other low-income beneficiaries in the state.
Buhari commissioned the estate alongside the Governor of Kano state, Abdullahi Ganduje; the Minister of Finance, Budget and National Planning, Mrs. Zainab Shamsuna Ahmed; the Board Chairman of Family Homes Funds, Alhaji Suleiman Barau; the Acting Managing Director of Family Homes Funds, Mr. Sani Yakubu, and other members of the Board of Family Homes Funds including Mohammed Umar, Chiweze Ukwuoma, Muhammadu Jumba, and Aisha Omar.
Speaking during the commissioning, the Board Chairman of Family Homes Funds, Alhaji Suleiman Barau, said the buildings mark another milestone for the FHFL.
Barau said within four years of existence, the FHFL has financed the development of over 15,000 homes for families on low-income across Nigeria, with over 80,000 jobs created in the process.
He said “On behalf of the Board and Management of Family Homes Funds, I would like to really thank President Muhammadu Buhari, for taking the time to commission this estate for families on low income.
“We also thank the President for the establishment of an important company like Family Homes Funds, that is playing a very crucial part in the Federal Government’s social intervention programmes focused on poverty alleviation across Nigeria.
“We also thank the Minister of Finance, Mrs. Zainab Shamsuna Ahmed for her strong leadership and guidance that is inspiring Families Homes Funds to deliver all the results it has.
“She continually supports and encourage the company towards innovation, which is why we are now one of the most important Federal Government owned institutions in Nigeria, delivering affordable homes, creating jobs and yielding dividends for the government.”