Nigeria: Yobe Gets N10 Billion Loan to Build 2,600 Houses

The Governor of Yobe State, Mai-Mala Buni, on Monday signed an agreement with a public housing finance company, Family Home Fund (FHF) Ltd, to build 2,600 houses across the state.

The N10.8 billion will be used to build houses in seven locations around the state.

The proposed houses, comprising of two and three-bedroom bungalows, will be completed in 18 months.

At a brief MoU signing event held at the Yobe Governor's Lodge, Asokoro, Abuja, the Solicitor-General, Yobe State Ministry of Justice, Hadiza Alkali, and the Managing Director of Family Homes Funds Ltd, Femi Adewole, signed the agreement on behalf of both parties.

Speaking at the event, Mr Buni said the mass housing schemes reflected the policy of his administration to "provide quality and affordable housing to the people of our state".

He said his intentions are "in line with the United Nations Sustainable Development Goals (SDGs)".

"We believe that affordable housing is a key marker of social progress. When people have comfortable accommodation, they are more likely to have the right frame of mind to engage in meaningful socio-economic activities," he said.

Mr Buni said the houses will be spread across the three senatorial districts of Yobe and the state capital, Damaturu.

"Accordingly, we will build 500 units in Yobe Zone A with Gaidam and Buni-Yadi Towns having 250 units each. In Zone B, we will construct 300 units in Potiskum and 200 units in Damagum Town of Fune Local Government area. In Zone C, we will site 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 sited along Potiskum road, 250 along Maiduguri road and the remaining 250 units along Gujba road," he said.

The governor said a foundation laying ceremony for the proposed houses will be held in Damaturu on September 5 "as part of the events marking his first 100 days in office.

Meanwhile, Mr Adewole said Family Homes Funds Ltd "will provide financing and technical support to the Yobe State Government, with a repayment period for the financing loan at ten years."

"This is to ensure that the houses are delivered on time and to the right quality according to the agreement reached."

FHF is a Nigerian government initiative set up last year as a partnership between the Federal Ministry of Finance and the Nigerian Sovereign Investment Authority as founding shareholders to provide affordable housing for millions of Nigerians in low to medium-income groups.

See What Everyone is Watching

More From: Premium Times

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.