*Over 252,000 jobs created under housing programmes
*10,000 houses under construction
*President Tinubu’s vision for housing & urban development commendable
*Our goal is to build at least one Renewed Hope City in each geopolitical zone

With over 252,000 jobs created and 10,000 houses undergoing construction, HM Housing, Arc Dangiwa Highlights Progress in Housing and Urban Development at State House Meet The Press Programme

18 November 2024, Abuja – The Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, delivered a compelling presentation today at the State House Press Gallery, outlining the Ministry’s achievements under the Renewed Hope Agenda championed by President Bola Ahmed Tinubu. The Minister detailed a comprehensive range of initiatives aimed at reducing Nigeria’s housing deficit, driving economic growth, and improving the lives of millions of citizens, reflecting a clear commitment to an inclusive vision for the nation’s housing sector.

Opening his presentation, Minister Dangiwa underscored the leadership role of President Tinubu, whose vision and support have empowered the Ministry to focus exclusively on housing and urban development. “Everything starts with good leadership. When the vision is clear and there is an unwavering commitment to serve, great things happen,” he stated. “Under the leadership of His Excellency, President Bola Ahmed Tinubu, we have been entrusted with the monumental task of implementing the Renewed Hope Agenda, a mission to provide accessible and affordable housing for every Nigerian while catalyzing economic growth.”

A cornerstone of the Ministry’s efforts is the Renewed Hope Cities and Estates Programme, which spans 14 active construction sites across Nigeria. This initiative is delivering over 10,000 housing units in various locations, ensuring an equitable distribution of projects across the six geo-political zones. The Renewed Hope Estates comprise twelve estates, each with 250 housing units, while larger urban projects, branded as Renewed Hope Cities, are underway in the Federal Capital Territory, Kano, and Lagos, with further expansion planned for other states. “Our goal is clear: to build at least one Renewed Hope City in each geo-political zone, bringing homes closer to those who need them most,” the Minister added.

Minister Dangiwa also highlighted the economic impact of the housing programme, emphasizing job creation as a critical outcome. “At an average of 25 jobs per housing unit, we have directly and indirectly created over 252,800 jobs across the country,” he explained. “From architects, engineers, and surveyors to masons, carpenters, plumbers, and general labourers, the Renewed Hope Cities and Estates Programme is revitalizing communities and providing meaningful employment opportunities.” He noted that daily wages for workers average ₦5,000, enabling many to earn monthly incomes well above the national minimum wage, which contributes to economic stability and reduces crime.

Central to the Ministry’s strategy is the development of innovative homeownership options designed to make housing accessible for all Nigerians. Through the National Housing Fund (NHF), administered by the Federal Mortgage Bank of Nigeria (FMBN), citizens can access loans of up to ₦50 million at a highly competitive 6% interest rate, with a repayment period of up to 30 years. This initiative offers a lower equity requirement compared to commercial banks, making homeownership more attainable. The Ministry has also introduced a Rent-to-Own scheme, enabling contributors to move into homes while gradually paying for ownership over three decades without an initial equity contribution. Minister Dangiwa stressed the importance of affordability and accessibility, describing these initiatives as “life-changing pathways to homeownership.”

To ensure a transparent and streamlined process, the Ministry has launched the Renewed Hope Online Housing Delivery Portal. This platform allows citizens to explore, apply for, and secure housing units conveniently. “It is a one-stop shop for homeownership,” said the Minister. “With over 47,605 registered users and more than 1,000 applications completed, this platform revolutionizes housing accessibility, removing the need for lobbying or backdoor negotiations.”

Acknowledging the financial challenges inherent in housing development, Minister Dangiwa outlined a multi-faceted funding strategy. Budgetary allocations have been complemented by public-private partnerships (PPPs) and international collaborations. The Renewed Hope Estates are being funded with a ₦50 billion allocation from the 2023 supplementary budget, with an additional ₦27.2 billion earmarked for 2024. Meanwhile, PPPs have attracted over ₦40 billion in financing for projects such as the Karsana Renewed Hope City, backed by a ₦100 billion Bankable Offtaker Guarantee from the FMBN.

However, the Minister recognized that the scale of Nigeria’s housing deficit, estimated at 550,000 units per year, necessitates increased budgetary support. “Our advocacy for a minimum annual housing budget of ₦500 billion starting in 2025 has gained the support of the National Assembly,” he revealed. This increased funding would enable the Ministry to expand housing projects and increase unit counts in various states, furthering the Renewed Hope Agenda’s reach.

Beyond housing construction, the Ministry has made strides in land administration reforms, slum upgrading, and the establishment of building materials manufacturing hubs to reduce construction costs and boost local economies. The hubs, designed under a build-operate-transfer arrangement, will attract private investment and create jobs while lowering the cost of building materials.

“Under the Renewed Hope Agenda, we are not just building houses; we are building hope, jobs, and economic opportunity,” Minister Dangiwa concluded. “We are creating a Nigeria where every citizen, regardless of income, can aspire to a decent home and a thriving urban environment. This is our commitment to the people, and we will continue to serve with dedication and passion.”

The Federal Ministry of Housing and Urban Development remains steadfast in delivering sustainable and inclusive housing solutions for all Nigerians, transforming lives and contributing to a stronger, more prosperous nation.