The President Bola Tinubu-led administration is strengthening mortgage financing and local production of building materials, in a bid to bridge Nigeria’s growing housing deficit says Musa Dangiwa, Minister of Housing and Urban Development.
The Ministerl made the statement at the BusinessDay’s Real Estate Exhibition & Investment Summit held in Port Harcourt on Wednesday, saying that the administration was focused on initiating structural reforms, improving land administration, titling and documentation and others.
Dangiwa, who was represented by Queen Takerhi, Federal Lands Officer, Rivers State, commended BusinessDay for “creating a platform that brings together governments investors developers, financial institutions and other stakeholders to focus on one of the most important development issues of our time: how to address nigerian housing deficits with innovation solutions.
“Housing is not just about building. It is about dignity, stability, and economic opportunity. A decent home provides families with security and comfort. At the same time, the housing sector is a powerful driver of economic growth, job creation and national development,” he said.
The Minister noted that Nigeria was confronted by a significant housing deficit, adding that addressing this challenge required bold thinking, strong partnership, and innovation financing models.
“That is exactly what the Federal Government, under the leadership of His Excellency President Bola Tinubu is doing through the Renewed Hope housing program. Our approach is clear. We are moving away from fragmented effort, towards a coordinated national housing delivery system that mobilizes government institutions, private investors developments, financial institutions and state governments to deliver housing at scale.
“The Renewed Hope housing program operates through three key components: First, Renewed Hope Cities, which are large-scale urban developments designed to create modern, well-planned communities with housing for different income groups. Second, Renewed Hope Estates, which are being replicated across the country to deliver affordable homes in partnership with state governments and private developers.
“Third, Renewed Hope social housing estates which are designed to ensure that low income and vulnerable nigerians are not left behind in our national housing agenda. Through this initiative we are demonstrating that housing delivery in Nigeria can move from promises to actual construction and delivery,”Dangiwa said.
He however noted; “Government cannot do this alone. Housing delivery at the scale Nigeria needs requires strong private sector participation. This is why we are working actively to create an enabling environment for investors, developers and financiers to participate in the housing sector.”
