Meet the Press: Housing Minister Outlines Milestone Achievements Under Renewed Hope Agenda
* Says President Tinubu's Transformative leadership enables ministry's focus on implementation
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, has proudly outlined the ministry's remarkable achievements, transformative programs, and impactful reforms undertaken in alignment with the Renewed Hope Agenda, spearheaded by His Excellency, President Bola Ahmed Tinubu, GCFR.
The Minister gave this outline when he made his presentation at a media parley tagged "Meet the Press," which held at Nigeria's State House in Abuja on Sunday, 17th November, 2024.
Commending President Tinubu's transformative leadership for demerging the ministry from the Federal Ministry of Works, Dangiwa said the move has enabled the ministry to focus its efforts on implementing the Renewed Hope Agenda in the housing sector.
Furthermore, he stated that the vision President Tinubu has for the housing ministry was that of prioritizing housing as a vital element for improving the lives of Nigerians, creating jobs, and boosting economic growth.
Dangiwa informed that the Ministry has embarked on various initiatives to address the housing deficit in Nigeria, which includes:
Increasing Housing Supply. He emphasised that the Ministry was committed to closing the national housing gap through the construction of 10,112 housing units via the Renewed Hope Cities and Estates Program, with 14 active sites across the nation.
He explained that under the Renewed Hope Estates, twelve estates are currently under construction, with each comprising 250 housing units in 12 states, totaling approximately 3,000 units while for the Renewed Hope Cities, major urban projects are underway in the Federal Capital Territory (FCT) with 3,112 units, and additional developments in Kano and Lagos, among other states.
Speaking on Job Creation and economic impact of construction in the housing sector, particularly, the Renewed Hope Housing Project, the Minister noted that over 252,800 jobs have directly been created for Nigerians, significantly contributing to the nation’s economic landscape, affirming skilled and unskilled workers are benefitting from robust employment opportunities, earning significantly above the national minimum wage.
"At an average daily wage of ₦5,000, many workers are earning over ₦150,000 monthly, which is far above the national minimum wage," he said.
Dangiwa, while informing Nigerians of the flexibility and seamlessness of applying for houses under the Renewed Hope Cities and Estates, introduced the Renewed Hope Online Housing Delivery Portal;www.renewedhopehomes.fmhud.gov.ng, explaining it is a user-friendly platform that has empowered over 47,605 Nigerians to explore, apply, and track their housing applications online, streamlining the homeownership process.
On options of home ownership available to interested buyers, the Minister explained that the Ministry has introduced various affordable homeownership options through the National Housing Fund (NHF) and the Federal Mortgage Bank’s Rent-to-Own scheme, allowing many Nigerians access to affordable housing, Outright purchase for Nigerians who afford to pay upfront and Installmental payment option with upto four instalments allowable for convenience.
"I want to use this medium to appeal to Nigerians in both formal and informal employment to join the National Housing Fund (NHF) Scheme to enable them benefit from this affordable homeownership options from the Federal Mortgage Bank of Nigeria. They are the best in the market, " He said.
To enable the ministry churn out affordable housing , Dangiwa informed Nigerians the ministry has opted budgetary provisions, Public-Private Partnerships (PPPs), and international collaborations to diversify funding for housing projects, ensuring low and middle-income earners can access housing options.
He said, " We are funding the 12 Renewed Hope Estates from the ₦50 billion 2023 Supplementary Budget. We also have an additional ₦27.2 billion allocated in the 2024 budget to complete their infrastructure fully while awaiting 2025 budget to expand the programme to cover more of the remaining states."
Minister expressed that the ministry is committed to fulfilling the Renewed Hope Agenda by ensuring every Nigerian has access to affordable and dignified housing. "Our efforts are not just about building houses; we are building a brighter future for generations to come," he added.
In addition, the Minister said that under the Public-Private Partnerships arrangement, the ministry is constructing 3 Renewed Hope Cities in FCT, Lagos and Kano and are being funded through a PPP that the Ministry signed with a consortium of developers for the delivery of 100,000 housing units nationwide.
"Under this strategy, the developers source land and construction finance while the government creates an enabling environment for them to deliver housing. So far, the Ministry has facilitated a N100billion Bankable Offtaker Guarantee by the Federal Mortgage Bank of Nigeria (FMBN) for the Karsana Renewed Hope City," the Minister noted.
However, unlike housing construction funded through the budgetary allocation which are relatively cheap, the PPP arrangement are usually costlier and cater for high and middle income earners because developers get their loan in double digits.
"For example, a one-bedroom apartment at the Renewed Hope City in Karsana, built under a PPP model, costs about N22 million, whereas a similar unit under the Renewed Hope Estates, funded through budgetary allocations, costs approximately N8–9 million," Dangiwa maintained.
Accordingly, other sources of funding strategy include collaborations with reputable organisations such as Shelter Afrique Development Bank (ShafDB) for the financing of 5,000 housing units under phase one, representing an estimated investment of ₦50 billion.
The Minister informed the partnership was the first time the Ministry was directly leveraging housing finance from ShafDB,.a Pan African institution where it is currently the largest shareholder, noting ShafDB housing finance collaboration is also another Renewed Hope First that being recorded at the Ministry.
Similarly, Dangiwa mentioned that progress is being made in the National Social Housing in the establishment of fund to ensure that all Nigerians, regardless of income, have access to decent housing, noting, saying, aside from the budgetary funding, the ministry is engaging with philantrophic organizations, Corporate Social Responsibility and voluntary donations from Nigerians.
" We also have some willing and capable potential investors in the NSHF who are working to meet the requirements of the Infrastructure Concessionary and Regulatory Commission (ICRC)," the Minister remarked.
As part of efforts to ensure effective Land Administration and not oblivion to the crucial role of land governance, the Minister disclosed that the Ministry has launched initiatives to improve land administration, including fair compensation frameworks and the National Land Registration Program.
Also mentioned by the Minister was the plan to establish Building Materials Manufacturing Hubs aimed at reducing construction costs and stimulating job creation.
He added that the ministry is in partnership with World Bank to develop National Digital Land System to ensure seamless land titling and registration across the country.
While emphasising President Tinubu's unwavering commitment to transforming the country's housing landscape, he noted that the ministry has achieved significant milestones within 14 months of its existence as a standalone ministry, ensuring that housing and urban development receive the priority they rightly deserve.
The Minister later extended invitation to all Nigerians and stakeholders to join in the effort towards a more prosperous Nigeria by participating in the National Housing Fund and exploring the available affordable housing options.
