REMARKS BY THE HONOURABLE MINISTER OF HOUSING & URBAN DEVELOPMENT ON THE GOOD MORNING NIGERIA PROGRAMME ON THURSDAY, 9TH NOVEMBER, 2023.
Dear Nigerians,
I had the honour of speaking on the Good morning Nigeria programme on the NTA Network this morning. It was an opportunity to reiterate our commitment to the Renewed Hope Agenda for Housing and Urban Development as envisaged by His Excellency, President Bola Ahmed Tinubu.
I highlighted our key priorities for the Housing and Urban sector, including the plan to create Renewed Hope Cities across Nigeria, starting with a first phase of 40,000 housing units across all 36 states and the Federal Capital Territory. We estimate that Nigeria requires an average of 550,000 units annually over a 10-year period to bridge the housing deficit, and the Renewed Hope Cities project is only one step towards achieving that.
I also firmly emphasized our commitment to strengthening the institutional capacity of the Ministry and our agencies like the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA). This involves reviewing the FMBN Act, the NHF Act, and other extant laws that no longer serve their purpose in view of current realities. We're also actively pursuing a review of the Land Use Act to make land administration seamless for enhanced property investment.
Our Slum Upgrading and Urban Renewal project will help upgrade communities deemed unfit for human habitation into livable and decent cities. We're not just concerned about increasing the housing stock, but also deeply committed to ensuring that Nigerians have decent places to call home.
I also seized the opportunity to inform Nigerians of our desire to complete all abandoned projects in the country. We're currently on an inspection tour and assessment of such projects. Not only will they be completed, but we will ensure that all projects we embark upon are completed as and when due.
Overall, our objective is to provide affordable and quality housing to Nigerians, while also creating decent cities and communities. We realize that the private sector should play a huge role in this regard. Not only are we partnering directly on projects, we're also creating an enabling environment for the private sector to thrive, by reviewing laws that have become stumbling blocks to progress and addressing the legacy challenges that have discouraged investments over the years, including access to land and titling, credit, and raw materials.
Let me re-echo the promise I made to Nigerians on the programme. The Tinubu administration is genuinely concerned about the housing and urban sector, and we will drive the much-needed change and development that Nigerians so dearly need.
