The Nasarawa State Government said it has signed a Memorandum of Understanding (MoU) with Family Homes Fund (FHF) and Federal Mortgage Bank (FMB) to provide 2, 000 houses worth N11 billion to civil servants in the state.
Governor Abdullahi Sule, who spoke during the signing of the tripartite agreement on Wednesday in Lafia, the state capital, explained that the mutual agreement was part of the fundamental objectives of his administration as captured in the Nasarawa State Economic Development Strategies (NEDS).
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The governor stated that the provision of housing was one of the essential things his government intends to attain to change the condition of civil servants for better.
He said that civil housing would be provided for servants earning below N100, 000 monthly.
The governor said the development would “create wealth, employment opportunity, create development, boost economic activities in the state as well as provide homes for the less privilege.”
He added that “when the work on the housing project commence, it would provide employment for over 20, 000 youths, thereby taking them off the streets.”
Earlier, the Managing Director of Family Homes Fund, Mr. Femi Adewale, said that workers would enjoy from the initiative to make them proud house owners.
He explained that the signing of the agreement is a landmark achievement to them, as it would give them the opportunity to assist in providing houses for low and medium income earners.
“Apart from those to be engaged to work in the site, traders would make high sales. We would also ensure that all inputs and materials to be used are sources locally to empower the people of the state,” he said.
He said their company would invest N6 billion at the initial stage and invest another N5 billion as the project progresses.
The Managing Director of the Federal Mortgage Bank, Mr. Ahmed Danjuma, represented by the Group Head of Strategy, Oladepo Fakeye, said the beneficiaries of the houses are expected to contribute 2.5 per cent of their monthly salary to the fund and they have up to thirty years to pay for the house with interest rate of six per cent.
The Mortgage Bank boss also explained that the bank had funded four estates already in Nasarawa State with one in Lafia, one in Keffi, one in Uke and one in Mararaba.