WRITTEN BY NEHEMIAH ANINI
The Federal Government has secured more than ₦70 billion in private-sector investment to accelerate its Renewed Hope Housing Programme, leveraging public-private partnerships (PPPs) to help close Nigeria’s housing deficit.
Minister of Housing and Urban Development, Arc Ahmed Musa Dangiwa FNIA, disclosed this during an exclusive interaction with The Chronicles of Construction in Abuja.
He explained that the ministry has launched a state-by-state campaign to ensure affordable housing projects reach all 36 states and the Federal Capital Territory, expanding access to quality homes nationwide.
“We are not just building houses; we are building the economic framework that makes housing affordable and sustainable for the long term,” Dangiwa said.
Three-Tier Housing Approach
The Renewed Hope Housing Programme is structured into three distinct tiers to meet the needs of various population groups:
- Renewed Hope Cities – large-scale urban developments.
- Renewed Hope Estates – medium-scale community housing.
- Renewed Hope Social Housing Estates – targeted at low-income earners.
Innovative Financing Models
To make homeownership easier for workers and young families, the Federal Mortgage Bank of Nigeria (FMBN) has introduced two new financing products:
- Rent-to-Own Scheme – allowing gradual ownership while living in the home.
- Rental Assistance Product – helping with upfront rental costs.
In addition, the government is working with the MOFI Real Estate Investment Fund to expand long-term mortgage access.
Strengthening State-Level Execution
The Federal Government is also embedding Housing Reform Champions within state administrations, hosting housing roundtables, and supporting state governments in designing viable housing projects.
According to the Minister, this PPP-driven strategy, backed by strong government and private collaboration, represents a significant step toward reducing Nigeria’s housing deficit through sustainable financing and execution.
