President Bola Tinubu has confirmed that the Federal Government is currently constructing over 15,000 housing units across Nigeria, marking a significant step in efforts to expand access to affordable housing and address the nation’s housing deficit. These projects form part of the Renewed Hope Agenda, which aims to deliver 100,000 homes nationwide through housing cities and estates in various regions.
According to the President, the administration is committed to completing 100,000 homes nationwide, with 50,000 units in the first phase. This phase includes housing cities of 1,000 units in each geopolitical zone and the Federal Capital Territory, as well as estates of up to 500 units in the remaining states. Currently, more than 15,000 housing units are under construction across multiple active sites.
Key projects include over 3,000 units at Karsana in Abuja and a 2,000-unit housing city in Ibeju-Lekki, Lagos, which Tinubu noted is at an advanced stage and already open for sales. The programme is supported by reforms, including collaboration with the World Bank to improve land titling and expand formal land registration. Additionally, reforms have been introduced to improve equipment leasing in the construction sector, making it easier for developers to access machinery.
President Tinubu acknowledged Nigeria’s large housing deficit but emphasized that progress is being made across land, construction, and financing. He added that housing should be viewed not only as a social intervention but also as an economic driver linked to jobs, industrial demand, and output. This perspective aligns with broader economic considerations, such as managing Nigeria Construction Costs and monitoring Nigeria Banks Npl to ensure financial stability in the sector.
Former Minister of Housing and Urban Development, Musa Dangiwa, stated that one-bedroom units under the Renewed Hope Estates Programme cost between N8 million and N9 million. He noted that public-private partnerships (PPPs) are necessary to address Nigeria’s housing deficit, estimated at 550,000 units annually over the next decade, requiring about N5.5 trillion in yearly investment. Dangiwa added that Renewed Hope Cities target middle- and high-income earners, while estates focus on lower-income households. He also highlighted that Nigeria’s population growth and urbanization require housing that meets global standards of safety and infrastructure.
In related developments, the Federal Government has cleared over N700 billion owed to contractors, approving payments to 1,240 firms. This move is expected to boost construction activity across regions, including Nigeria’s South-south & other areas, while supporting initiatives like Nairametrics Nominates Mtn for industry recognition. The government’s focus on housing also ties into broader financial infrastructure, such as Nigeria’s National Payment systems, which facilitate transactions in the real estate market.
