The Yobe State Government has signed a Memorandum of Understanding with the Family Homes Fund Limited to provide 2,600 houses within 18 months.
As part of the terms of the MoU, the company will provide financing worth N10.8bn for the construction of urban and rural housing units across the three senatorial districts of the state.
The MoU was signed at a brief ceremony in Abuja on Monday.
The Yobe State Governor, Mai Mala Buni, who signed as a witness to the agreement, said the MoU was part of his administration’s commitment to the provision of affordable housing for the residents of the state.
Buni said, “This historic signing of the agreement between our government and Family Homes Fund Limited is for the construction of 2,600 urban and rural housing units in Yobe State at the total cost of N10,830,339,654.
“This event reflects our policy to provide quality and affordable housing for the people of our state.
“In line with the United Nations Sustainable Development Goals, 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.”
The Managing Director of the company, Femi Adewole, said it was providing financing and technical assistance for the project.
He stated that the loan had a repayment period of 10 years at a very reasonable interest rate.
The Yobe State Solicitor-General, Hadiza Umar, signed the agreement on behalf of the state, while Adewole signed on behalf of the company.