In a resounding commitment to providing shelter for the nation, President Bola Tinubu has agreed to a monumental initiative – the allocation of N126.5 billion for the delivery of 100,000 houses across the country within the next 18 months.
The visionary move, unveiled by the Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, unfolded during the groundbreaking ceremony for 3,112 housing units in Karsana, a promising enclave within the Federal Capital Territory (FCT).
Dangiwa, the architect of this ambitious endeavor, shed light on the diverse funding sources fueling this housing revolution. A blend of the Federal Ministry of Housing and Urban Development’s budgetary allocation, support from the Federal Mortgage Bank of Nigeria (FMBN), and strategic Public Private Partnerships with reputable developers will bring these homes to life.
The Minister also announced a groundbreaking plan for an additional 6,000 housing units in the first quarter of the year, underlining the government’s swift action.
“Your Excellency has graciously approved a total of N126.5 billion from the 2023 supplementary and 2024 budget for these projects, including slum upgrades and urban renewal,” Dangiwa stated while emphasizing the administration’s commitment to addressing various housing needs. The concept of cross-subsidy takes center stage, ensuring affordability for low- to medium-income earners and fostering integrated living.
Under this visionary strategy, housing units within the Renewed Hope Cities will be available at commercial rates, while a significant percentage will be offered at conceding rates to members of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
The symbolic choice to commence these transformative projects in the Federal Capital Territory reflects a strategic decision. Dangiwa expressed gratitude to the Minister of FCT, Nyesom Wike, applauding his commitment to the Renewed Hope Agenda and understanding of the pivotal role that housing and access roads play in enhancing residents’ lives.
Beyond the boundaries of the FCT, a tapestry of projects is set to unfold. The canvas includes 2,500 Renewed Hope City housing units in the vibrant Ibeju-Lekki Coastal City, Lagos, the development of a 500-housing unit Renewed Hope Estate in Kano, and 250 housing units in 12 states, distributed strategically across the geopolitical zones as Renewed Hope Estates.
As President Tinubu’s vision takes root, these housing initiatives become not just structures but beacons of hope, representing a new horizon for countless Nigerians in search of secure and affordable homes.
