Family Homes Fund Limited (FHFL)

Project Name:

  • Family Homes Fund Limited

Project Sector:

  • Financial Services

Project Sponsors:

  • Federal Ministry of Finance

Commencement Date / Closure Date / Completion Date

  • September 2016

Project Location (Region or State):

  • Abuja, Nigeria

Project Description:

  • Family Homes Funds Limited (FHFL) is a social housing financing fund aimed at improving the quality of life of Nigerians on low income through the provision of affordable housing. The aim of the Fund is to provide long-term low-cost mortgage finance by raising capital from the private sector, multilateral agencies, and impact investors. In doing so, the Project would stimulate economic activity across the nation, creating new jobs and opportunities and directly adding value to the economy.

Benefits / Impact (Social, Economic & Others):

  • FHFL finances the purchase of homes for families on low income through its home loans assistance program leading to improved quality of life, better living conditions and overall well-being for families and communities at large.
  • The Fund aims to promote the development of 500,000 new homes for low-income earners and create up to 1,500,000 jobs

Project Cost / Size:

  • ₦1.0 trillion (target Fund size)

Funding structure:

  • Equity

NSIA’s interest:

  • ₦490,000 (49%)

Partners:

  • Ministry of Finance Incorporated