The Federal Government has secured over ₦70 billion in private sector investment to support its Renewed Hope Housing Programme, aimed at addressing Nigeria’s long-standing housing deficit.
The Minister of Housing and Urban Development, Ahmed Musa Dangiwa, disclosed this during the opening of the 19th Africa International Housing Show (AIHS) in Abuja. He described the investment as a product of growing Public-Private Partnerships (PPPs) focused on large-scale housing delivery across the country.
Dangiwa unveiled a state-by-state housing development campaign, which he said would help align federal housing policies with local implementation strategies. “We are not just building houses we are addressing the systemic and economic challenges that prevent affordable housing for most Nigerians,” the minister said.
The Renewed Hope Housing Programme, according to him, comprises three components: Renewed Hope Cities, Renewed Hope Estates, and Renewed Hope Social Housing Estates. These are designed as a comprehensive strategy to expand access to affordable and sustainable housing nationwide.
He highlighted ongoing reforms at the Federal Mortgage Bank of Nigeria (FMBN), including new initiatives such as the Rent-to-Own Scheme and Rental Assistance Product targeted at easing the housing burden on urban workers and young families.
The minister also announced plans to launch a Real Estate Investment Fund under the Ministry of Finance Incorporated (MOFI), which will provide longer-term financing solutions for home ownership.
A key part of the new campaign involves embedding housing reform officers in state governments and setting up housing roundtables to drive local solutions. This approach is intended to strengthen collaboration between federal and state agencies, private developers, and international partners.
Dangiwa reaffirmed the administration’s commitment to inclusive urban development and slum upgrading, citing alignment with the UN-Habitat Global Action Plan and the Addis Declaration on Inclusive Urban Development.
“Housing is not a privilege it is a right,” he said. “When we invest in housing, we invest in people, in jobs, in cities, and in the future of this country.”
He urged development finance institutions and private investors to support the initiative, noting that platforms like AIHS must translate dialogue into tangible results on the ground.
