The Federal Government has announced plans to adopt a Public-Private Partnership (PPP) framework to expand housing finance and bridge Nigeria’s housing deficit.
This initiative is part of the Renewed Hope Agenda for housing and urban development, designed to enhance collaboration with private sector investors to accelerate housing delivery nationwide.
The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, announced this ahead of the Renewed Hope PPP Summit set for March 17, 2025, at the Shehu Musa Yar’Adua Center, Abuja, as stated in a post on the ministry’s official X page on Tuesday.
He noted that the event will serve as a platform for engaging key stakeholders on innovative financing solutions and strategies to enhance housing delivery.
“At the Federal Ministry of Housing and Urban Development, we are prioritizing Public-Private Partnerships (PPP) to expand financing opportunities and accelerate the delivery of the Renewed Hope Agenda for Housing and Urban Development.
“That is why I am pleased to deliver the Keynote Address at the Renewed Hope PPP Summit, taking place on Monday, 17th March 2025, at the Shehu Musa Yar’Adua Center, Abuja,” Dangiwa stated.
According to Dangiwa, the Ministry’s PPP Unit will present a Technical Framework at the summit, outlining structured approaches for partnerships between the government, private sector investors, and housing finance institutions. This framework is expected to guide investment inflows, reduce bottlenecks, and enhance efficiency in housing projects nationwide.
What you should know
Nigeria faces a significant housing deficit, with millions lacking access to affordable homes. To bridge this gap, the Federal Government, through the Ministry of Housing and Urban Development, launched the Renewed Hope Cities and Estates programme.
Under Renewed Hope Cities, the government is constructing 2,000 housing units in Kano, 3,112 in the FCT, and 2,000 in Lagos, with more projects planned nationwide. Additionally, twelve Renewed Hope Estates, each comprising 250 units, are being developed across the six geopolitical zones.
- The Renewed Hope Cities initiative operates through Public-Private Partnerships (PPPs), where private developers finance projects via high-interest loans and cover land acquisition and infrastructure costs. In contrast, Renewed Hope Estates are funded through budgetary provisions, with subsidies for infrastructure and free land.
- Due to this funding disparity, Housing Minister Musa Dangiwa revealed in November 2024 that one-bedroom units under Renewed Hope Estates cost between N8 million and N9 million, while PPP-developed units are priced at N22 million.
To further address the housing deficit, the Federal Government has been engaging global investors in Nigeria’s real estate sector, projected to reach $2.25 trillion by 2025. On January 27, 2025, at the Saudi Arabia Real Estate Forum in Riyadh, Dangiwa urged international investors to explore opportunities in the Renewed Hope Cities and Estates programme, emphasizing the country’s 28 million-unit housing deficit and rapid urbanization-driven demand.
