The Federal Government has announced plans to deliver 77,400 homes, with 80% reserved for low-income earners who will pay gradually using one-third of their monthly income.
Additionally, 20% of the units will be provided free of charge to vulnerable populations.
This initiative aims to improve access to affordable housing and address the housing deficit in the country.
The initiative, which will be executed under the Renewed Hope Social Housing Programme set to launch soon, aims to provide 100 housing units in each of the 774 local government areas across the country.
Minister of Housing and Urban Development, Ahmed Musa Dangiwa, made the announcement while receiving a delegation from Creative Sphere Limited at the Ministry’s headquarters in Mabushi on Wednesday, as outlined in a Ministry statement released Thursday.
“The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has revealed that the much-talked-about Renewed Hope Social Housing Programme will soon be launched by President Bola Ahmed Tinubu as part of initiatives to address the housing needs of Nigerians, regardless of class or income level,” the statement read in part.
It added, “Arc. Dangiwa explained that the Renewed Hope Social Housing Programme is designed to provide homes for low-income earners, the unemployed, vulnerable groups, and Internally Displaced Persons (IDPs), covering both the formal and informal sectors.
“Regarding the allocation of the houses, the Minister explained that 80% of the houses will be sold to Nigerians living in the local government areas who earn a living wage, adding that interested individuals will be required to contribute one-third of their monthly income. The remaining 20% of the housing units will be allocated free of charge to citizens with low or no income, such as widows, orphans, and others identified as vulnerable in society.”
Dangiwa also noted that the houses are expected to be completed within a year from the programme’s launch.
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The programme will be financed through the Renewed Hope Infrastructure Development Fund (RHIDF), which is dedicated to supporting large-scale housing projects.
- Each housing estate will be equipped with essential community infrastructure, including schools, clinics, recreational spaces, police outposts, and shopping malls, ensuring a well-rounded environment for residents.
- The statement further highlighted that this social housing initiative is part of a broader national housing strategy that also encompasses the development of Renewed Hope Housing Estates and Renewed Hope Cities, aimed at offering long-term, affordable housing solutions throughout the country.
By selling 80% of the housing units at affordable rates and reserving the remaining 20% for the most vulnerable citizens, the government aims to foster an inclusive housing system that is accessible to all Nigerians.
