In a bold move to tackle Nigeria’s housing deficit, the Federal Government has launched an ambitious plan to construct 77,400 social housing units across the country as part of President Bola Ahmed Tinubu’s Renewed Hope Agenda. The initiative, announced by the Minister of Housing and Urban Development, Ahmed Dangiwa, aims to deliver 100 affordable housing units in each of Nigeria’s 774 local government areas (LGAs), alongside major urban projects in Lagos, Abuja, and Kano.
The National Social Housing Programme, a cornerstone of the Renewed Hope Agenda, seeks to address the nation’s estimated 20 million-unit housing gap. In addition to the LGA-level housing, the government has earmarked larger developments, including approximately 3,000 units each in Lagos, Abuja, and Kano under the Renewed Hope Cities initiative. Current reports indicate 3,112 units are under construction in Karsana, Abuja, with 2,000 units underway in both Lagos and Kano, signaling significant investment in urban housing.
A key focus of the programme is affordability for low-income Nigerians. According to Minister of State for Housing, Yusuf Ata, 20% of the 77,400 units will be allocated free to vulnerable groups, such as widows, orphans, and internally displaced persons, while 80% will be sold to Nigerians earning a living wage, with payments structured at no more than one-third of their monthly income. The government has also introduced accessible financing options, including 6% interest loans up to ₦50 million through the National Housing Fund and a Rent-to-Own scheme, supported by an online housing portal with over 47,000 registered users.
To ensure the project’s success, the government is leveraging public-private partnerships (PPPs), with the Federal Mortgage Bank of Nigeria offering a ₦100 billion offtake guarantee to developers. The initiative is also expected to create over 1.9 million jobs, based on an estimate of 25 jobs per housing unit, boosting economic activity nationwide. Funding will primarily come from the Renewed Hope Infrastructure Development Fund, though the proposed National Social Housing Fund awaits National Assembly approval.
However, challenges loom. Nigeria’s housing budget, pegged at ₦27.2 billion for 2024, falls far short of the ₦5.5 trillion needed annually to address the housing deficit. Past initiatives, such as the stalled 2020 plan to build 300,000 homes, have fueled public skepticism about delivery timelines. The Karsana Renewed Hope City, intended to deliver 3,112 units by December 2024, remains incomplete, underscoring the need for robust execution and transparency.
As the government pushes forward with this transformative housing agenda, Nigerians await tangible progress. With strategic partnerships and adequate funding, the Renewed Hope Social Housing Programme could mark a turning point in providing affordable homes for millions, but its success hinges on overcoming historical delays and ensuring accountability.
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