• Friday, November 22, 2024
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Umahi, Wike get presidential directive on roads to Renewed Hope Cities

Umahi, Wike get presidential directive on roads to Renewed Hope Cities

L-R: Kingsley Chukwuma, ED, Business Development and Portfolio Management; Zubaida Umar, ED, Finance and Corporate Services; Musa Dangiwa, Minister of Housing, Madu Hamman, MD/CEO, FMBN; Lukman Mustapha, ED, Loans and Mortgages, and Shehu Usman Osidi, Chief of Staff to the Minister, at the management retreat of FMBN in Abuja recently

David Umahi, minister of works, and his counterpart at Federal Capital Territory, Nyesom Wike, have been directed by President Bola Tinubu to work collaboratively towards creating access roads to all Renewed Hope Cities and Estates construction sites in the FCT and across the country.

President Tinubu gave the directive at the launch of the Renewed Hope Cities and Estates Programme in Abuja recently. The programme promises to deliver 50,000 housing units of various house types in its first phase. The president stressed the need to make such cities and estates accessible, liveable and safe in order to decongest city centres.

It is expected that the 20,000 housing units planned for the FCT alone will create about 500,000 jobs at 25 jobs per housing unit. Besides the job creation, the city development, according to the president, is an important instrument for economic development.

The launch of the programme coincided with the groundbreaking for the construction of 20,000 housing units in the FCT, beginning with a pilot site for 3,112 units, at the Karsana District of the FCT. The project, which is being implemented by the Federal Ministry of Housing and Urban Development under a Public-Private Partnership arrangement, is for a total of 100,000 housing units across the country, beginning with the first phase in the FCT.

President Tinubu in a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, assured of his administration’s resolve to provide decent and affordable housing for Nigerians, adding, “our goal is to increase the sense of togetherness, improve health and productivity of our citizens and reduce pressure on city centres.”

Continuing, he said, “on this note, I am today directing the Minister of the Federal Capital Territory and the Minister of Works to provide access roads to all Renewed Hope Cities and Estates project sites to increase accessibility and livability starting with this site in Karsana.

This is because my administration believes that every Nigerian deserves to have access to shelter that is affordable and adequate.”

The president explained that, under this plan, integrated living communities that will redefine the essence of residential living for Nigerians nationwide will be built, emphasizing that his vision is to build dynamic, integrated, and self-sustaining communities, equipped with amenities to enhance the quality of living for residents

The cities and estates will boast well-connected access and internal roads, reliable and uninterrupted electricity, healthcare facilities to offer accessible and quality medical services and educational institutions to provide learning environments that nurture knowledge and skills.

Tinubu commended the Housing Ministry for its the innovativeness in taking advantage of Public Private Partnership (PPP) collaborations that attract domestic, foreign, and Diaspora investments. He said the federal government aims to “design and implement incentive schemes, boost the capital market while enhancing the governance and risk management frameworks to ensure their stability, transparency and integrity”.

He president disclosed that, in the next couple of weeks, he will be performing the groundbreaking for the construction of 2,500 housing units at the Ibeju–Lekki coastal city in Lagos.

“I am also delighted to hear that the Renewed Hope Cities are being developed in three locations: Kano 1,500 housing units; Lagos 2,500 housing units and Abuja 3,112 under a variety of funding arrangements. The Ministry’s plan to kickstart a National Urban and Slum Upgrading Programme, covering 26 sites nationwide, is also commendable,” he said.

He hopes that the project will also provide a practical demonstration of cross-subsidisation where, out of the 1,500 housing units to be funded by FMBN, 400 will be sold at concessionary rates to low and medium income Nigerians who are members of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

SENIOR ANALYST - REAL ESTATE

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