The ongoing construction of housing across the country by the federal government has created over 250,000 new jobs.
This is according to the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, who provided an update on the ministry’s progress in tackling Nigeria’s housing deficit and creating jobs, outlining key initiatives under the Renewed Hope Agenda.
Addressing correspondents at the Presidential Villa in Abuja yesterday, he emphasized rhetoric economic impact of the housing construction in addition to addressing the urgent housing need.
According to Dangiwa, each housing unit is creating an average of 25 jobs, resulting in a total of over 250,000 across the country.
He disclosed that these positions span a wide range of professions, from architects, engineers, and surveyors, to masons, carpenters, plumbers, and general laborers.
According to him, work daily wage averaging 5,000, many of these workers are earning well above the national minimum wage, contributing to the reduction of poverty and the promotion of economic stability.
“These housing projects are revitalizing local communities by providing employment, stimulating local economies, and empowering thousands of Nigerians. We are not only building homes, but we are also building opportunities,” the Minister stated.
Dangiwa highlighted the significant strides made in housing and urban development, underscoring the government’s commitment to economic growth, social inclusion, and job creation.
The Minister commended the leadership of President Bola Tinubu, whose vision and support, Dangiwa said, have been instrumental in driving the Ministry’s housing initiatives forward.
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“Everything starts with good leadership,” Dangiwa said, acknowledging the vital role of the President in the implementation of the Renewed Hope Agenda, which seeks to provide affordable housing for Nigerians and stimulate the economy.
One of the cornerstone initiatives of the Ministry is the Renewed Hope Cities and Estates Programme, which is currently active in 14 construction sites across Nigeria.
This programme is set to deliver over 10,000 housing units across multiple locations, spanning all six geopolitical zones.
The projects include a mix of urban developments such as Renewed Hope Cities in key areas like the Federal Capital Territory, Kano, and Lagos, as well as smaller, but equally important, Renewed Hope Estates, each consisting of 250 homes.
“We have set a clear goal to build at least one Renewed Hope City in each geopolitical zone of the country.
“These projects are designed to bring homes closer to the people who need them most, ensuring that our housing initiatives are both geographically and economically inclusive,” Dangiwa explained.
A key component of the Ministry’s strategy to make housing accessible to all Nigerians is its emphasis on affordable homeownership options
Through the National Housing Fund (NHF), managed by the Federal Mortgage Bank of Nigeria (FMBN), Nigerians can access loans of up to N50 million at a competitive 6% interest rate with a repayment period of up to 30 years.
He explained that the NHF offers a lower equity requirement compared to traditional commercial banks, making it easier for Nigerians to purchase homes.
Additionally, the government has introduced a Rent-to-Own scheme, allowing Nigerians to begin living in homes while making payments toward ownership over a period of 30 years, with no initial equity contribution required.
“These initiatives are life-changing pathways to homeownership for millions of Nigerians who otherwise would not have access to affordable housing,” Dangiwa added.
The Ministry has also launched the Renewed Hope Online Housing Delivery Portal, which has become a key tool in improving accessibility and transparency in the housing allocation process.
He informed that with over 47,605 registered users and more than 1,000 applications completed, the portal has removed the need for backdoor dealings and lobbying, making the housing application process more efficient and equitable.
Dangiwa also discussed the Ministry’s efforts to secure funding for these large-scale housing projects.
The Renewed Hope Estates are being financed through a N50 billion allocation from the 2023 supplementary budget, with ₦27.2 billion earmarked for 2024.
Public-private partnerships (PPPs) have also played a crucial role, raising more than N40 billion for projects such as the Karsana Renewed Hope City, which has received support through a N100 billion Bankable Offtaker Guarantee from the FMBN.
Despite the progress, the Minister acknowledged that Nigeria’s housing deficit remains significant, with the country needing to build an estimated 550,000 units per year to meet demand.
To address this, Dangiwa has called for a minimum annual housing budget of N500 billion starting in 2025, a proposal that has garnered support from the National Assembly.
He stressed that this increased funding would allow the Ministry to expand housing projects, increase the number of housing units, and further the objectives of the Renewed Hope Agenda.
In addition to housing construction, the Ministry is implementing reforms in land administration and working to establish building materials manufacturing hubs to reduce construction costs.
These hubs, set up under a build-operate-transfer arrangement, will not only lower building material costs but also attract private investment, further boosting local economies and creating jobs.
“Under the Renewed Hope Agenda, we are not just building houses; we are building hope, jobs, and economic opportunity for all Nigerians.
“This is our commitment to the people, and we will continue to serve with dedication and passion”, Dangiwa concluded.
With these ongoing efforts, the Federal Ministry of Housing and Urban Development is poised to significantly reduce Nigeria’s housing deficit, create thousands of jobs, and improve the quality of life for millions of Nigerians, while contributing to the broader goals of sustainable and inclusive economic growth.
