Governor Ahmadu Umaru Fintiri signed a Memorandum of Understanding (MOU) with the federal government financing agency, Family Homes Fund, for the construction of two thousand housing units for citizens in Adamawa.
The Director General, Media and Communication to the governor stated this on Wednesday.
In his remark, at a ceremony which held in the Government House, Yola, the Managing Director of the Family Homes Fund, Mr Femi Adewole said the company will provide the houses within eighteen months timeframe.
Mr Adewole said the intervention would provide financing in excess for six billion naira of the two thousand houses out of which one thousand two hundred will be sited in the state capital while the remaining eight hundred will be spread across the twenty one local government areas.
Professor Adewole said the prices for the houses such as one bedroom flat will gulf two point five million naira, two bedroom flat for three million naira while three bedroom flat will cost four point five to five million naira.
He added that the company will support the state government in providing the home loan assistance so that the government can get the loan term financing in form of payment of forty percent contribution of the cost of acquisition under significantly concessionary term.
He revealed that the investment will create jobs through an apprenticeship programme for young people in the state in which not less than fifty thousand youths in Adamawa will have opportunity to receive training and skill development in the construction trend.
The Managing Director added that the firm will support the state government on a home owner educational programme to ensure that the potential beneficiaries are able to manage the houses for sustainability in the long term.
Governor Ahmadu Umaru Fintiri said is happy that the exercise has demonstrated another milestone of his eleven point agenda for the construction of the two thousand houses which he promised the civil servants of Adamawa during electioneering campaigns.
Governor Umaru Fintiri said the agreement with the Family Homes Fund will provide two thousand houses for private and public servants both at the state and federal government levels who are residents in Adamawa.
The Governor hoped and prayed that the work will be completed within the timeframe stipulated in the contractual agreement for the benefits of civil servants in the state.