In a recent visit to his office, the Minister of Housing and Urban Development, Arc Ahmed Musa Dangiwa, unveiled plans to assess the actual housing deficit in Nigeria in collaboration with the National Population Commission (NPC). The minister stated that it is crucial to accurately determine the housing shortfall in order to plan and address the needs of Nigerians effectively.
According to internal estimates, the ministry has determined that Nigeria requires the construction of approximately 550,000 new homes annually over the next decade to accommodate its growing population. In line with President Bola Ahmed Tinubu's Renewed Hope Agenda, the government aims to reform federal housing agencies such as the Federal Mortgage Bank of Nigeria and the Federal Housing Authority. These reforms will enable the agencies to function more efficiently and provide quality, affordable housing to Nigerians.
Minister Dangiwa emphasized that while the Federal Mortgage Bank of Nigeria focuses on affordable housing through low-interest rates and extended loan terms of up to 30 years for contributors to the National Housing Fund (NHF) Scheme, the Federal Housing Authority has the capability to develop housing for both low and high-income earners.
During his meeting with Acting Comptroller-General of the Nigerian Immigration Services, Caroline Wura-Ola Adepoju, Minister Dangiwa assured her that both the Federal Housing Authority and the Federal Mortgage Bank of Nigeria would work together to provide affordable housing solutions to all immigration officers. He also revealed the government's plan to construct Renewed Hope Cities across the country, with the initial phase delivering 34,500 homes in selected cities and state capitals.
The housing units in Renewed Hope Cities will consist of 1, 2, and 3-bedroom affordable bungalows and multi-level flats, catering to low and medium-income earners. For higher-income earners, the government plans to collaborate with reputable developers under a Public-Private Partnership arrangement to construct elegant terrace houses, detached bungalows, and duplexes. The Renewed Hope Cities will symbolize inclusivity, ensuring that every Nigerian family, regardless of income level, can have a place they can proudly call home.
Regarding funding for the Renewed Hope Cities project, Minister Dangiwa noted that budgetary allocations for the Ministry, the Federal Mortgage Bank of Nigeria, and the Public-Private Partnership would all contribute. This collaboration will not only revolutionize housing development but also make homeownership more affordable for every Nigerian.
Acting Comptroller-General of the Nigerian Immigration Services, Caroline Wura-Ola Adepoju, urged the Minister to consider the housing needs of immigration officers in the nationwide housing programs. She emphasized that providing decent homes for officers after retirement has been challenging due to the high cost set by private developers.
This collaborative effort between the Ministry of Housing and the National Population Commission signifies a profound step towards addressing the housing deficit in Nigeria. With the planned reforms, renewed housing agencies, and visionary Renewed Hope Cities, the government is committed to creating a new era of affordable and quality housing, ensuring that all Nigerians can proudly own their own homes.
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