The Minister of Housing and Urban Development, Ahmed Dangiwa, yesterday announced that the federal government will formally commence construction work on another 2,000 housing units in eight states in the South and North Central regions of Nigeria
A statement by the Minister’s Spokesperson, Mr. Mark Chieshe, said this is a continuation of the ground-breaking ceremony for Renew Hope Cities and Estates that began earlier. He listed the states that will be covered in the exercise: Ebonyi, Abia, Akwa Ibom, Delta, Osun, Oyo, Benue, and Nasarawa.
He said the nationwide ground-breaking ceremony is a continuation of the formal launch of the housing programme by President Bola Tinubu in February 2024 with the completion of 3,112 housing units in Karusana, Abuja.
This also follows the successful ground-breaking of 1,500 housing units in five northern states, namely Katsina, Yobe, Gombe, Sokoto, and Kano, from May 22 to 25, 2024.
Construction activities are expected to commence with 250 houses in Ebonyi on Wednesday, June 26, 2024, followed by 250 units in Abia on Thursday, June 27, 2024, and 250 in Akwa Ibom on Friday, June 28, 2024.
Others include 250 each in Osun, Oyo, Benue, and Nasarawa, bringing the total number of houses completed in the eight states to 2,000. This brings the total number of houses under the Renewed Hope Cities and Estates Programme to 6,612 since its official launch in February, according to the statement.
“All housing construction projects are expected to be completed and operational by the end of 2024. This is in line with the Minister’s commitment to ensure that housing projects are completed expeditiously and made available for occupancy by Nigerians who need them. There will be 50 one-bedroom, semi-detached houses, 100 two-bedroom semi-detached houses, and 50 three-bedroom semi-detached houses,” the statement added.
Dangiwa was quoted as saying, “The houses will be built according to approved organic designs to enable prospective home buyers to expand from one to two bedrooms and from two to three bedrooms as their income increases over time.”
Dangiwa said the concept was adopted to improve affordability for Nigerians and that the 2,000 houses will be funded from the 2023 supplementary budget of the Federal Ministry of Housing and Urban Development.
The Minister assured state governments that the housing programme will cover all states in the federation and that any not covered in the supplementary budget will be reflected in the 2024 budget.
The Minister stressed that the 2,000 houses will create an estimated 50,000 jobs for skilled and unskilled workers in the states, with an average of 25 jobs per house. Dangiwa said that the houses will not only provide housing for low and middle-income Nigerians but will also be a significant stimulus to the local economy by creating jobs, sustaining livelihoods, and developing the economy at large.
The housing project also aims to promote inclusion and integration and reduce inequality by providing a wide range of affordable home ownership options.
These include single-digit mortgages with tenures of up to 30 years offered by the Federal Mortgage Bank of Nigeria (FMBN).
They also include rent-to-own options that allow beneficiaries to move in and pay for their homes in monthly, quarterly, or yearly installments, as well as outright buy-out options for higher-income earners.
