Family Homes Fund to deliver 500,000 homes, create 1.5 million jobs for vulnerable Nigerians — Tinubu
President Bola Tinubu has said his administration is expanding access to affordable housing for vulnerable Nigerians through the Family Homes Funds programme, with a target of delivering 500,000 homes and creating 1.5 million jobs nationwide.
In a post on his X account on Tuesday, President Bola Tinubu who highlighted the implementation of his administration’s housing agenda, said the initiative is designed to ensure that widows and low-income earners are not left behind in the government’s efforts to address Nigeria’s housing deficit.
“Through Family Homes Funds, we have kept faith with the poorest, housing widows and low-income earners, under a mandate to reach 500,000 homes and the 1.5 million jobs that rise with them,” the President said.
Tinubu stated that affordable housing remains a key pillar of the Renewed Hope Agenda, stressing that his administration had moved beyond promises to tangible delivery across the country.
According to him, more than 15,000 housing units are currently under construction nationwide, while major projects in Abuja and Lagos are progressing steadily. He cited the development of over 3,000 homes in Karsana, Abuja, and the near-completion of a 2,000-unit housing city in Ibeju-Lekki, Lagos.
The President also highlighted efforts to improve access to home ownership through affordable mortgage financing. He disclosed that 1,859 families across 25 states had secured mortgages worth ₦128 billion through the MOFI Real Estate Investment Fund at a fixed interest rate of 9.75 per cent over 20 years.
“But a home that is built and cannot be bought is only a monument,” Tinubu said, noting that access to affordable financing is critical to addressing Nigeria’s long-standing housing challenges.
While acknowledging that the country’s housing deficit remains significant, the President said reforms across land administration, building materials, equipment leasing and housing finance were beginning to transform the sector.
