FG Has Released N25bn For N500bn Housing Fund - Minister
FMBN House. Image: Guardian NG

The Federal Government has disbursed N25billion out of the N500billion mapped out for tackling the country’s housing deficit.

Concise News understands that the fund is under the Family Homes Fund Programme of the government.

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Nigeria’s Finance Minister, Zainab Ahmed, revealed this on Wednesday in Abuja where she noted that more funds would soon be released for the scheme.

The World Bank has said that the country needs about N60trillion to tackle its 17millon housing deficits.

According to her, the Federal Government is partnering with stakeholders to cut down on the country’s 17 million housing deficit.

“Housing presents a basic need of many Nigerians that is largely unmet,” she said.

“In a bid to bridge the gap, the Federal Government in collaboration with the states have created the Family Homes Fund that aims at not only providing affordable homes but also to create jobs in the economy.

“The fund of N500bn is estimated to provide 500,000 homes and 1.5 million jobs for our citizens.

“So far, over N25bn has been released with more under processing.”