Governor Abdullahi Sule has on Wednesday signed a Memorandum of Understanding (MoU) with Family Homes Fund (FHF) and Federal Mortgage Bank to build 2,000 houses worth N11 billion to civil servants in the state.
Sule, while signing the agreement in Lafia, the state’s capital, said the agreement was part of the cardinal objectives of his government as captured in the Nasarawa State Economic Development Strategies (NEDS).
He said the provision of housing was one of the important things his administration intends to achieve to change the living standards of civil servants to better in the state.
Sule explained that the housing would be provided for servants earning below N100,000 monthly.
He said he had promised to improve the welfare of civil servants in the state and the provision of a housing programme is in fulfillment of his promise.
Sule said,” the agreement would create wealth, employment opportunity; create development, boost economic activities in the state as well as provide homes for the less privileged.
“When the work on the housing project commences, it would provide employment for over 20,000 youths, thereby taking them off the streets.
“This would also help in addressing youth restiveness in the state given the insecurity,” the Governor added
He also commended President Muhammadu Buhari for initiating the idea to care for the less privileged by providing housing for them.
Earlier, Femi Adewale, Managing Director (MD) Family Homes Fund, lauded the state government for the partnership and promised that workers would enjoy the initiative to make them proud house owners.
The MD of FHF said the signing of the agreement is a landmark achievement to them, as it would give them the opportunity to help toward providing houses for low and medium-income earners thereby, improving the standard of their lives.
He said their company would invest N6 billion at the initial stage and invest another N5 billion as the project progresses.
On his part, Ahmed Danjuma, Managing Director, Federal Mortgage Bank represented by Oladepo Fakeye, Group Head Strategy said the bank has been partnering with the Nasarawa State Government for some time now.
He explained that the bank was in charge of the management of the National Housing Fund to provide housing for the public and private workforce.
Danjuma informed that beneficiaries of the houses are expected to contribute just two point five per cent of their monthly salary to the fund and they have up to 30 years to pay for the house with an interest rate of six per cent.
He also explained that the bank had already funded four estates in Nasarawa State – Lafia, Keffi, Uke, and in Mararaba.