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The Federal Government has partnered with Harmony Gardens and Estate Development Limited and Metroscape Development Company Limited to build 2,000 housing units at Lekki Aviation Town in Ibeju-Lekki, Lagos State, under its Renewed Hope Housing Programme.
Speaking at the groundbreaking ceremony on Friday, October 30, 2026, the Housing Minister Muttaqha Rabe Darma said the project would expand access to homeownership and strengthen private-sector participation in housing delivery.
The development will be delivered under a public-private partnership (PPP) arrangement and will comprise two-bedroom and three-bedroom homes in the fast-developing Ibeju-Lekki corridor.
Partnership to deliver 2,000 homes, 50,000 jobs
Speaking at the ceremony, Darma said the project would extend the Federal Government’s housing development programme in Ibeju-Lekki and generate significant employment opportunities during construction.
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He said the development was expected to generate more than 50,000 jobs across the 2,000 housing units, while creating millions of productive man-hours over the course of the project.
- “Our partnership with Harmony Gardens and Metroscape together will deliver two- and three-bedroom homes,” Darma said.
The minister referenced N78 billion as part of the project’s funding but said the figure did not fully capture its wider economic contribution through employment and productive activity.
- He described the development as part of President Bola Tinubu’s Renewed Hope Agenda, which he said was aimed at turning housing policies into homes, jobs and broader economic growth.
- Darma also urged members of the National Youth Service Corps (NYSC) to volunteer on the project to gain practical experience and develop professional and technical skills.
The minister said the project’s success would not be measured by the groundbreaking ceremony but by the completion of all 2,000 homes on schedule, at their published prices and to the required quality standards.
Darma calls for housing industry regulation
Beyond the construction project, Darma said the Federal Government was working to introduce stronger regulation and coordination across Nigeria’s housing industry.
He said the proposed reforms were intended to improve safety, protect homebuyers and ensure that housing agencies operated within a more coordinated framework.
- The minister cited building collapses and delays in housing delivery as concerns that stronger industry regulation should address.
- He said the government wanted to bring agencies with housing-related responsibilities, including the Federal Housing Authority and Federal Mortgage Bank of Nigeria, under a more coordinated structure supervised by one minister.
- Darma disclosed that a proposal had been submitted to President Bola Tinubu to improve coordination among the agencies, particularly in mortgage finance, construction finance and affordable housing.
He also charged Harmony Gardens, Metroscape, contractors and consultants working on the project to maintain high standards of safety, delivery and environmental responsibility.
Darma said the government wanted homebuyers to be protected from investing in properties that developers fail to deliver within agreed timelines. He added that the success of the Ibeju-Lekki project would depend on delivering quality homes at the prices announced to buyers.
Developers outline homeownership payment plan
The Chief Executive Officer of Harmony Gardens, Abdullahi Saheed Mosadoluwa, said prospective homeowners could access the development with an initial deposit of N100,000, with payments spread over 25 years through the Federal Mortgage Bank of Nigeria (FMBN).
He said the arrangement was designed to accommodate teachers, police officers, nurses, civil servants, young entrepreneurs and Nigerians in the diaspora.
- However, the announcement did not disclose the selling prices of the homes, applicable mortgage interest rates or monthly repayment obligations.
Darma said the ministry was also working to improve coordination among housing-related agencies to expand access to mortgage financing.
- “A house is only truly accessible when a Nigerian can obtain financing on terms consistent with his income,” he said.
Representing Lagos State Governor Babajide Sanwo-Olu, Prince Bayo Balogun commended Harmony Gardens for its contributions to development in Ibeju-Lekki and called on more private investors to partner with the state government to address housing needs.
The Chairman of the House of Representatives Committee on Urban Development and Regional Planning, Awaji Inombek Abiante, urged the ministry and its partners to ensure housing projects were supported by adequate transportation networks, markets and essential infrastructure.
Lagos housing deficit reaches 3.4 million
The project comes amid a significant housing shortage in Lagos, with the state’s housing deficit estimated at 3.4 million units in 2025, according to previous Nairametrics reports. The state requires approximately 227,576 new homes annually to keep pace with demand.
Research presented at a GTI Investment Group housing forum estimated that Lagos needs about N6 trillion annually to bridge its housing capital gap.
- A September 2026 report by Fortren & Company found that only 31% of Lagos residents own their homes, while 51% live in rented accommodation.
- The Federal Government has also been pursuing alternative financing arrangements to improve homeownership. On October 27, 2026, FMBN launched a non-interest lease-to-own mortgage scheme known as Ijarah Muntahia Bittamleek.
The scheme allows eligible National Housing Fund contributors to occupy homes through a lease arrangement before ownership is transferred, subject to agreed terms. At its launch in Kano, Darma called on FMBN to extend the scheme to Lagos, Port Harcourt, Enugu, Ibadan and Abuja.
