Nigerian Govt Plans 34,500 Affordable Homes Nationwide To Tackle Housing Shortage

1 min read

The Nigerian federal government is set to address the severe housing shortage in the country by providing 34,500 affordable homes nationwide.

In a statement, the Minister of Housing and Urban Development, Mr. Ahmed Musa Dangiwa, announced the launch of the ‘Renewed Hope Cities Project,’ which aims to construct approximately 34,500 houses across Nigeria.

During a recent courtesy visit by the Executive Governor of Taraba State, Agbu Kefas, the Minister emphasized the government’s commitment to creating affordable housing options.

Dangiwa highlighted that this initiative will be made possible through collaboration with the Federal Mortgage Bank, Federal Housing Authority, and Private-Public Partnerships (PPP).

Dangiwa stated, “With this project alone, we aim to create over 240,000 jobs, aligning with Mr. President’s goal to uplift 100 million Nigerians out of poverty and stimulate economic growth. Our primary focus is on affordability without compromising quality, catering to the 80% of Nigerians in the non-income, low-income, and medium-income brackets.”

READ ALSO  ATIDI, Kenya Govt Partner To Advance Renewable Energy Projects

Furthermore, the Ministry is partnering with the National Population Commission (NPC) to accurately assess the housing deficit in the country. Dangiwa revealed, “Our estimates indicate the need for about 550,000 new homes annually over the next ten years to meet the housing demands of Nigerians.”

To facilitate this colossal project, the Ministry has reached out to State Governors, requesting approximately 50 hectares of land at no cost for Renewed Hope Cities. This approach is designed to offer homes at prices that Nigerians can afford.

In a bid to streamline land administration and enhance access to land, the Minister also unveiled plans to revise the Land Use Act of 1978, making the process more efficient and cost-effective with the adoption of the model mortgage foreclosure law. The aim is to simplify land acquisition and bolster the housing construction efforts.

READ ALSO  Isi-Uzo Students Seek Speedy Release Of ₦8.7m Busary Award Offered By Council Chairman

READ ALSO: Shelter Afrique Transforms Into ShafDB, Paves Way For Housing Revolution Across Africa

This housing initiative signifies a step forward in addressing the housing crisis and stimulating economic growth, offering renewed hope for many Nigerians in need of affordable homes.

+ posts