• Thursday, February 29, 2024
businessday logo

BusinessDay

Minister pledges support for private sector investment to tackle housing deficit

Minister pledges support for private sector investment to tackle housing deficit

…breaks ground for 480-unit CityGate Homes development

Minister of Housing and Urban Development, Ahmed Dangiwa, has pledged support for all genuine efforts in terms of private sector investment and participation in tackling Nigeria’s housing deficit and creating jobs in the process.

The minister gave made this pledge last Thursday at the ground-breaking event to start construction work on 480-housing unit development in Kukwaba area of Abuja.

Read also: Buildings demolition in Lagos communities ignores state’s housing deficit

He noted that the Renewed Hope Agenda for Housing and Urban Development required the participation of the private sector to bridge the housing deficit in the country, as the quantum of funding required to fix the deficit was beyond what government could provide.

The CityGate Homes project covers phases II and III of the company’s Kukwaba housing project. It is 480-unit estate comprising 6-bedroom semi-detached duplexes and 4-bedroom blocks of flats. Dangiwa described the ground-breaking event as a significant contribution to the ministry’s ongoing efforts to address the housing crisis in the country.

“The initiative taken by Citygate Homes aligns perfectly with the government’s vision for sustainable urban development. This project embodies the collaborative efforts between the public and private sectors, showcasing how partnerships can drive impactful change and contribute to the growth and development of our nation.

“In a rapidly growing city like Abuja, the demand for housing has surged, and it is our collective responsibility to respond to this need. I commend Citygate Homes for their dedication and investment in this endeavor. This housing project will not only provide shelter but will also create job opportunities, stimulate economic growth, and contribute significantly to the enhancement of the local community,” he said.

The minister assured that government will continue to provide the enabling environment for private-sector investment to thrive, especially with the federal government’s promise to cater for the welfare of Nigerians, and urged them to embrace sustainability, inclusivity, and affordability in their housing and urban development drive.

“I commend Citygate Homes for their dedication and investment in this endeavour. This housing project will not only provide shelter but will also create job opportunities, stimulate economic growth, and contribute significantly to the enhancement of the local community.

Furthermore, I want to emphasize the importance of sustainability and inclusivity in urban development. As we move forward, it is imperative that our housing projects incorporate eco-friendly designs, embrace technological advancements, and cater to the diverse needs of our society, including the low- and medium-income earners,” Dangiwa said.

He requested the Management of City Gate Homes to earmark a certain percentage of the 480-homes as affordable housing with price tags that average Nigerians can afford to buy, pointing out that as the minister of Housing and Urban Development, he is an advocate of affordable housing with focus on the average Nigerian workers, who are, indeed, the majority.

He added that developers should borrow a leaf from the ministry which recently designed a housing plan to create integrated communities with housing types that reflect the diverse income segments of the country, using cross subsidies.

This way, he hoped, the ministry aimed to sell high-end homes at market rates and deploy the profits towards subsidizing the units for low-and-medium-income households in order enhance inclusivity.

The minister urged the management of CityGate Homes to ensure timely execution of the project, while upholding the highest building codes and standards, as well as operating transparently.

Read also: Housing deficit: Scarcity in the midst of plenty in Abuja

Earlier, Michael Ejiogu, CityGate Homes CEO, had disclosed that the company had nine projects in Abuja, and was committed to partnering with the government in its quest to bridge the housing gap in Nigeria. He assured that the company would work to ensure affordability for medium-income earners.