The Federal Government has announced plans to construct 100 affordable homes for vulnerable Nigerians in each of the country’s 774 local government areas. The project will be funded through the proposed National Social Housing Fund, a scheme currently under development by the Ministry of Housing and Urban Development.
Speaking to journalists at the State House in Abuja, the Minister of Housing and Urban Development, Musa Dangiwa, revealed that the project aims to target the most vulnerable groups in every local government, providing them with free two- or three-bedroom houses.
Funding Through Public Contributions
The Minister outlined an innovative funding approach, proposing voluntary contributions of ₦5,000 monthly for one year from at least 10% of Nigeria’s population, approximately 20 million citizens.
“There is one option that we want to ensure: at least 10% of Nigeria’s population makes a voluntary contribution of ₦5,000 monthly for a year. This will generate ₦1.2 trillion,” Dangiwa explained. He added that the funds raised would be enough to build the required 77,400 houses, costing an estimated ₦10 million each.
Dangiwa also emphasized the need for widespread public support and legislative backing for the initiative. “Once this concept gains approval in the National Assembly, it will become a reality,” he said.
Advocating for Increased Budget Allocation
In addition to voluntary contributions, the Minister advocated for a substantial increase in annual budgetary allocations for housing delivery, seeking a minimum of ₦500 billion starting in 2025. This advocacy has already garnered support from lawmakers in the National Assembly.
“Our advocacy for a minimum annual housing budget of ₦500 billion has gained the support of the National Assembly,” Dangiwa stated. He noted that the increased funding would address Nigeria’s significant housing deficit, estimated at 550,000 units per year, and expand the Ministry’s housing initiatives.
Progress Under the Renewed Hope Agenda
The housing initiative falls under the broader framework of the Renewed Hope Agenda, which includes the Renewed Hope Cities and Estates Programme. The Minister highlighted ongoing projects at 14 active construction sites across the country, delivering over 10,000 housing units across Nigeria’s six geopolitical zones.
The Renewed Hope Estates consist of 12 estates, each with 250 housing units. Larger urban projects branded as Renewed Hope Cities are currently underway in Lagos, Kano, and the Federal Capital Territory, with plans for further expansion. “Our goal is to build at least one Renewed Hope City in each geopolitical zone, bringing homes closer to those who need them most,” Dangiwa affirmed.
Economic Impact
The housing programme also promises significant economic benefits, particularly in job creation. According to the Minister, each housing unit generates an average of 25 jobs, resulting in over 252,800 employment opportunities across various professions, including architects, engineers, masons, and general labourers.
“Workers earn an average daily wage of ₦5,000, enabling many to achieve monthly incomes above the national minimum wage,” Dangiwa said, adding that this economic activity contributes to community stability and crime reduction
A Renewed Hope for Nigerians
With its ambitious housing initiative, the Federal Government aims to address the nation’s housing deficit, provide homes for vulnerable citizens, and stimulate economic growth. The project reflects the administration’s commitment to equitable development and social welfare under the Renewed Hope Agenda.