The Federal Government has reaffirmed its commitment to delivering 100,000 affordable housing units nationwide under the Renewed Hope Cities and Estates Programme through outright purchase, mortgage financing and rent-to-own schemes targeted at low- and middle-income Nigerians.
President Bola Tinubu made the disclosure on Tuesday in Abuja at the 20th Africa International Housing Conference, themed “Housing Solutions for Low-Income and Informal Workers in Africa.” He was represented by the Minister of Housing and Urban Development, Engr. Mu’taqha Darma.
The President said work is progressing on 14 flagship housing projects across the country, with 10,112 housing units expected to be completed in the programme’s first phase.
He noted that the Renewed Hope Cities and Estates Programme would be replicated in all 36 states and the Federal Capital Territory as part of the administration’s long-term strategy to expand access to affordable housing.
According to Tinubu, the initiative is addressing Nigeria’s housing deficit while stimulating economic growth, creating jobs and strengthening the construction value chain.
He said the administration had accelerated the National Housing Programme by completing inherited projects and initiating new developments, while completed estates had been handed over to state governments for allocation to beneficiaries.
The President noted that strategic Public-Private Partnerships and innovative financing involving the MOFI Real Estate Investment Fund (MREIF), the Federal Mortgage Bank of Nigeria (FMBN), the Family Homes Fund, the Nigeria Mortgage Refinance Company and private developers are expanding access to affordable homeownership.
Tinubu identified key projects already under construction, including the 2,888-unit Renewed Hope City in Karsana, Abuja, the 2,084-unit development in Ibeju-Lekki, Lagos, and the 2,207-unit project in Lambu, Kano.
He also disclosed that beneficiaries had begun taking possession of homes under the Renewed Hope Rent-to-Own Scheme, describing it as evidence of the government’s commitment to translating policy into tangible benefits.
Beyond housing delivery, Tinubu said the National Urban Renewal Programme is providing critical infrastructure, including roads, drainage systems, water supply, sanitation facilities, solar streetlights and other environmental improvements in underserved communities.
He further announced the commencement of the National Housing Data Programme to establish Nigeria’s first integrated housing database for evidence-based planning, mortgage development and investment decisions, alongside the digitisation of land administration through the National Digital Land Information System.
Speaking at the conference, the Managing Director of the Federal Mortgage Bank of Nigeria, Shehu Usman Osidi, described the conference theme as timely, noting that rising land prices, increasing construction costs and limited access to affordable housing finance continue to put homeownership beyond the reach of many Nigerians.
Osidi said the bank remains committed to expanding access to affordable housing finance through the National Housing Fund Scheme, which provides long-term single-digit interest mortgages for land acquisition, home construction and renovation, as well as Home Renovation and Rent Assistance Loans.
Also speaking, the Coordinator of the Africa International Housing Show, Festus Adebayo, called for stronger collaboration among governments, the private sector and other stakeholders to tackle Africa’s housing deficit, stressing that affordable housing should be accessible to all citizens rather than a privileged few.
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