Fed Govt to fund firm's mass housing projects - The Nation Newspaper

The government has authorised the board and management of the fund to source for more funds from third party institutions, such as development finance institutions and the capital market.Finance Minister Mrs Zainab Ahmed broke the news on Monday in Abuja at the inauguration of the board of the Family Homes Funds.

The minister said the Federal Government “established the Family Homes Funds for the provision of affordable homes for 500,000 low income Nigerians and the creation of 1.5 million jobs”. This, she said, “is in realisation of the President Buhari administration’s goal of bridging the housing needs gap with the aim of promptly addressing the numerous demands for government interventions in the housing sector”.

Mrs Ahmed advised the board and management “to establish top corporate governance culture and a carefully designed internal control mechanisms”. She added: “The Family Homes Fund will receive significant amounts of public money, in addition to other capital from development finance institutions and the capital market. It must, therefore, be a reliable steward of resource on your part.”

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