• Sunday, May 19, 2024
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FG targets 50,000 housing units with Renewed Hope Cities project

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The Federal Government has unveiled the Renewed Hope Cities & Estates Programme, to address Nigeria’s housing deficit.

The initiative aims to deliver 50,000 housing units in phase one, distributed strategically across Nigeria’s six geo-political zones and the Federal Capital Territory (FCT).

Ahmed Dangiwa, minister of housing and urban development, said the initiative would provide affordable and sustainable housing solutions to Nigerians.

The ground-breaking ceremony for the 3,112 housing units was done in Karsana, Abuja.

The Federal Government also highlighted that the ground-breaking was part of a broader strategy to construct 20,000 housing units in the Federal Capital Territory.

Launching the project, President Bola Tinubu in his address, emphasised the importance of laying a strong foundation for economic growth and resurgence in Nigeria.

He commended the minister for his expertise in driving progress, highlighting that the decision to separate the ministry of housing has positioned it for success.

Recognising the vital role of housing in economic prosperity and job creation, Tinubu affirmed the government’s commitment to prioritising the housing sector.

On his part, Dangiwa outlined the government’s commitment to transforming the housing sector. He pledged commitment to president Tinubu’s vision for affordable housing, emphasising the importance of decent, quality, and affordable homes with supporting infrastructure across the nation.

“These integrated living communities will cater to various income brackets, offering a range of housing options from one-bedroom flats to five-bedroom duplexes.

“We will make your Renewed Hope Vision for housing a practical reality in terms of decent, quality, and affordable homes with infrastructure that support dignified living for our people, in the FCT, state capitals, and across the country.

The minister said: “Under phase one, we plan to deliver a total of 50,000 housing units across Nigeria. The cities will have 1,000 housing units per site in one location in each of the six geo-political zones in the country and FCT, while the estates will have 500 housing units per site in the remaining thirty (30) States”, he stated.

According to Dangiwa, the programme offers financing options including single-digit mortgage loans, rent-to-own schemes, and outright purchase, adding that funding for these projects will come from a mix of sources, including government allocations, the Federal Mortgage Bank of Nigeria, and public-private partnerships.

“We have designed the Renewed Hope Cities as integrated living communities targeting all income brackets. They comprise one-bedroom blocks of flats, two-bedroom blocks of flats and three-bedroom blocks of flats; two-, three- and four-bedroom terraces, four-bedroom duplexes, and five-bedroom duplexes.

“On the other hand, we have conceptualised the Renewed Hope Estates to cater to low- and medium-income earners. They comprise one-, two-, and three-bedroom semi-detached bungalows.

“To enhance affordability and ease of offtake, we used organic designs where one-bedroom can be expanded to two-bedroom and three-bedroom as the income of beneficiaries increases over time.

“The construction of these new cities and estates is expected to generate 1,250,000 direct and indirect jobs, stimulate local businesses, and attract investments, aligning with President Tinubu’s vision of national development”, Dangiwa noted.

The ground-breaking ceremony in Karsana marks the beginning of a series of projects scheduled nationwide, with plans to develop housing units in Lagos, Kano, and other states.