The Federal Government in partnership with the Bauchi State government is set to commence construction of new multi-billion naira 4,000 housing units in the state for low-income earners.
This was revealed on Saturday by the Managing Director, Family Homes Fund, Mr Femi Adewole, at a partnership meeting among the state government, Family Homes Fund and organized Labour held at the Government House in Bauchi.
According to Adewole, the new housing project is being constructed under the Federal Government’s Social Housing Programme as part of its plans to provide people of low income with affordable accommodations.
He informed that the N200 billion housing programme is a Federal Government initiative designed to construct 300,000 housing units in selected states across the country to be funded by the Central Bank of Nigeria (CBN) through the Federal Ministry of Finance.
He added that beneficiaries will be assisted to access mortgage loans to pay for the houses. The loans, Adewole said, will be repaid in 25 years.
The stakeholders meeting, the Managing Director said, is to outline the roles of organized labour in ensuring that citizens of the state, particularly low-income earners have access to the programme.
He added that apart from the housing programme providing an opportunity for Nigerians to access affordable houses will also create job opportunities for low-income earners.
“It is my pleasure to be in Bauchi again to introduce the Federal government Social Housing Programme and to outline the roles of organized labour in ensuring that citizens of Bauchi especially those who are on low income have access to the programme.”
“The programme is an opportunity for Nigerians to access affordable houses, create job opportunities for people of low income, reviving industries through using their materials for the construction of the project and improving the general well-being of vulnerable groups,” Adewole said.
According to him, the Family Homes Fund was established by the administration of President Muhammadu Buhari as a social financing institution to mobilize finances for affordable homes for Nigerians.
He expressed delight with the ongoing construction of 2,500 houses in the state and commended Governor Bala Mohammed for working with his firm in that regard.
“I am happy to report that we are satisfied and delighted with the progress of the ongoing construction of 2,500 houses in Bauchi which is not only to provide affordable homes for the people of Bauchi but most significantly create job opportunities for many local people. We want to appreciate the governor for working with us,” he said.
Adewole assured that in addition to the ongoing construction of 2,500 and the new 4,000 housing units to be constructed, the Fund will continue to invest in Bauchi State throughout the tenure of the present administration.
Speaking at the stakeholders meeting, Governor Mohammed, who chaired the meeting, assured of the state government’s commitment towards the immediate commencement of the new housing project in the state.
Represented by the state Commissioner for Housing and Environment, Honorable Hamisu Muazu Shira, the governor declared that the Family Homes Fund is a good partner of the state government, adding that the meeting is an opportunity for the state to leverage on to provide houses for people of the state.
“We consider Family Homes as a good partner with the Bauchi State government and today we are here to discuss yet another opportunity that Bauchi State will leverage on to ensure that low-income earners, respected civil servants and people of the state benefit from this golden opportunity,” he said.