From Juliana Taiwo-Obalonye, Abuja
Minister of Housing and Urban Development, Ahmed Dangiwa, has disclosed that under the Renewed Hope Agenda spearheaded by President Bola Tinubu, the Ministry has successfully created over 252,800 jobs and is currently constructing 10,000 housing units across the country.
Briefing State House Correspondents in Abuja on Sunday, the Minister emphasised the critical role of leadership in achieving these milestones. “Everything starts with good leadership. When the vision is clear and there is an unwavering commitment to serve, great things happen,” he stated.
He described commendable President Tinubu’s vision for housing and urban development even as he reinforced the government’s commitment to providing accessible and affordable housing for all Nigerians.
He highlighted Renewed Hope Cities and Estates Programme, as key initiative which spans 14 active construction sites nationwide. This programme, he explained aims to ensure equitable distribution of housing projects across the six geopolitical zones, with plans to establish at least one Renewed Hope City in each zone.
“Our goal is clear: to build at least one Renewed Hope City in each geopolitical zone, bringing homes closer to those who need them most,” Dangiwa added.
According to him, the economic impact of these housing programmes cannot be understated noting that each housing unit generates an average of 25 jobs, contributing significantly to local economies. “From architects and engineers to masons and carpenters, the Renewed Hope Cities and Estates Programme is revitalizing communities,” he explained. He adds that with daily wages averaging ₦5,000, many workers are earning above the national minimum wage, fostering economic stability.
Dangiwa said to further enhance homeownership accessibility, the Ministry has developed innovative financing options through the National Housing Fund (NHF).
He said citizens can obtain loans of up to ₦50 million at a competitive 6% interest rate over a repayment period of up to 30 years. Additionally, a Rent-to-Own scheme allows contributors to occupy homes while gradually paying for them over 30 years without an initial equity requirement. “These initiatives are life-changing pathways to homeownership,” he asserted.
In a bid to streamline housing applications, Dangiwa explained that the Ministry launched the Renewed Hope Online Housing Delivery Portal, which allows citizens to explore and apply for housing units conveniently. “It is a one-stop shop for homeownership,” said Dangiwa, noting that over 47,605 registered users have utilized this platform.
Acknowledging financial challenges in housing development, Dangiwa outlined a multi-faceted funding strategy that includes public-private partnerships (PPPs) and international collaborations. The programme, he added has received ₦50 billion from the 2023 supplementary budget and an additional ₦27.2 billion earmarked for 2024.
However, he stressed that Nigeria’s estimated annual housing deficit of 550,000 units necessitates increased budgetary support. “Our advocacy for a minimum annual housing budget of ₦500 billion starting in 2025 has gained support from the National Assembly,” he revealed.
The Ministry is also focused on land administration reforms and establishing building materials manufacturing hubs to reduce construction costs while boosting local economies. These hubs aim to attract private investment and create jobs.
“Under the Renewed Hope Agenda, we are not just building houses; we are building hope, jobs, and economic opportunity,” the Minister concluded.
He reaffirmed the Ministry’s commitment to delivering sustainable housing solutions that transform lives and contribute to a prosperous Nigeria.