Governor Ahmadu Fintiri of Adamawa state on Thursday signed a Memorandum of Understanding MOU with the federal government financing agency, Family Homes Fund, for the construction of 2000 housing units for citizens across the state.
Speaking with newsmen, the governor emphasised that the exercise was a demonstration of one of the eleven-point agenda which he promised the state during electioneering campaigns.
He said: “This agreement with the Family Homes Fund will provide 2000 houses for private and public servants both at the state and federal government levels who are residents in Adamawa State.
“We do hope and pray that the work will be completed within the timeframe stipulated in the contractual agreement for the benefits of civil servants in the state,” he stated.
In his remark, the Managing Director of the Family Homes Fund, Femi Adewole said the company would provide the houses within 18-month timeframe.
The managing director said: “The intervention would provide financing in excess of N6 billion for the 2,000 houses, out of which 1,200 will be sited in the state capital while the remaining 800 units will be spread across the twenty-one local government areas of the state.”
Mr Adewole said the prices for the houses such as one-bedroom flat would be around N2.5 million, the two-bedroom flat would go for N3000,000 while three-bedroom flat would cost N4.5 million.
He, however, disclosed that the company would support the state government in providing home loan assistance.
According to him, the government could get the loan term financing in form 40 percent payment contribution of the cost of acquisition under the significantly concessionary term.
The managing director added that the firm would support the state government on a homeowner educational programme to ensure that the potential beneficiaries are able to manage the houses for sustainability in the long term.