Vice President Yemi Osinbajo, on Friday, inaugurated 650 affordable housing units comprising 192 one-bedroom, 230 two-bedroom semi-detached terrace and 228 three-bedroom bungalows near Asaba.

The VP accompanied by Gov. Ifeanyi Okowa had earlier visited the Asagba of Asaba, Prof. Chicken Edozie.

He arrived at the Housing Estate located in Aniocha North Local Government Area at about 6:30 pm, performed the ceremony and felicitated with the host community and the monarchs of the people.

The News Agency of Nigeria (NAN) reports that the project which was started in February 2018 with initial N500 billion capital was funded by the Family Homes Funds, a social housing initiative of the Federal Government.

The fund with the initial shareholding by the Ministry of Finance Incorporated (MOFI) and Nigerian Sovereign Investment Authority (NSIA), was to raise another N800 billion from Direct Foreign Investment (DFI) as a partner, to finance the program.

NAN reports that the fund’s objective is to work with partners to create 500,000 new homes and 1.5 million jobs by 2023.

The fund’s current program comprises 3,600 housing units now under construction in five locations and another further 21,600 homes to be completed across the country.

Source: The Guardian