President Bola Ahmed Tinubu Unveils Ambitious Nationwide Renewed Hope Cities and Estates Programme
● Commends Federal Ministry of Housing and Urban Development on plans to turn Nigeria into a huge construction site.
● Housing Minister reels out plans for more new cities ad estate developments in Abuja, Lagos, twelve other locations nationwide.
President Bola Ahmed Tinubu, GCFR has officially launched the Nationwide Renewed Hope Cities and Estates Programme with the groundbreaking of a 3,112-housing unit project at the Karsana District in the Federal Capital Territory. The historic event which took place on Thursday, February 8, 2023 is in line with the government’s plans to provide decent, quality and affordable housing to Nigerians across all income brackets.
The Renewed Hope Cities and Estates Project, spearheaded by the Federal Ministry of Housing and Urban Development, aims to revolutionize housing across the nation. In its initial phase, the Ministry plans to construct 50,000 housing units of diverse types, leveraging various funding streams such as budgetary allocations, support from the Federal Mortgage Bank of Nigeria (FMBN), and strategic Public-Private Partnerships.
During the launch event, President Tinubu underscored the paramount importance of housing as a fundamental human right, emphasizing the government's duty to ensure its provision for all citizens. He lauded the Ministry's dedication to transforming Nigeria into a construction powerhouse, signaling a robust commitment to national development.
"I listened to the Minister say they are committed to transforming Nigeria into a giant construction site of Housing units.
"He has shown that he is an exemplary champion that understands how to use housing as a catalyst for economic resurgence and national development. We must all be positive about our country and work together so that we can win together", he said.
Addressing the audience, Honorable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, reiterated the Ministry's unwavering commitment to actualizing the Renewed Hope Vision. He outlined plans to deliver 50,000 housing units nationwide, strategically distributed across the six geopolitical zones and the Federal Capital Territory, catering to various income levels and housing needs.
Arc. Dangiwa further disclosed upcoming projects, including a 2,500-unit development in Ibeju-Lekki Coastal City, Lagos, and the establishment of Renewed Hope Estates in Kano and twelve other states. These initiatives, supported by government funding allocations, represent a significant step towards bridging the housing gap and promoting inclusive urban development.
“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.
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,” he said.
“On the other hand, we have conceptualized 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-bedrooms and three-bedrooms as the income of beneficiaries increase over time.
Furthermore, the program aims to address social inequality by providing a broad range of affordable ownership options. This includes single digit and up to 30-year mortgage loans to be provided by the Federal Mortgage Bank of Nigeria, Rent-to-Own options where beneficiaries can move in and pay towards homeownership in monthly, quarterly, or annual instalments and Outright Purchase for high income earners” he added.
Expressing gratitude, Arc. Dangiwa acknowledged the president's crucial support, which included substantial budgetary allocations for housing and urban development initiatives. He also recognized the collaboration with other ministries and stakeholders, including the Ministry of Information and the FCT Minister, emphasizing the collective effort required to realize transformative change.
The Karsana project exemplifies the innovative PPP model, with developers financing construction while the Ministry facilitates off-taker arrangements through flexible homeownership options like Rent-to-Own and Mortgage schemes. This approach not only accelerates project implementation but also fosters an enabling environment for sustainable urban growth.
Arc. Dangiwa appealed for collaboration in infrastructure development, highlighting the importance of access roads to facilitate project execution and alleviate urban congestion. With a shared commitment to Renewed Hope, stakeholders stand poised to usher in a new era of prosperity and progress for all Nigerians.
