Nigeria’s Renewed Hope Housing Project: FG Commences 1,250 Unit Construction Across Four States
The Federal Government, through the Ministry of Housing and Urban Development, has unveiled plans to initiate nationwide groundbreaking ceremonies for the first phase of the Renewed Hope Cities and Estates project. This phase will begin with the construction of 1,250 housing units across four northern states in Nigeria.
The groundbreaking events are scheduled to commence in Katsina State on May 22 and conclude in Gombe State on May 25.
According to a statement issued on Sunday by Ahmed Dangiwa, the Minister of Housing and Urban Development, the project has officially commenced following the finalization of contract agreements and the mobilization of reliable developers.
This development follows the official launch of the Renewed Hope Housing Programme in February 2024 with a 3,112-unit housing project in Karsana, Abuja, by President Bola Ahmed Tinubu, GCFR.
In a statement signed by the Minister’s Special Assistant on Media, Mark Chieshe, the current administration reiterated its commitment to transforming the nation into a large-scale construction hub. The government aims to leverage the housing sector to generate employment, drive economic expansion, and contribute to national development.
The statement detailed the schedule of the groundbreaking events:
May 22, 2024 – 250 housing units at Renewed Hope Estate, Katsina
May 23, 2024 – 500 housing units at Renewed Hope City, Kano
May 24, 2024 – 250 housing units at Renewed Hope Estate, Yobe
May 25, 2024 – 250 housing units at Renewed Hope Estate, Gombe
Speaking on the initiative, Minister Dangiwa reaffirmed the government's promise to transform the housing sector into a key driver of economic growth. "We are determined to deliver on our commitment to President Bola Ahmed Tinubu, GCFR, by turning the country into a massive construction site and unlocking the potential of the housing sector. These 1,250 housing units in Katsina, Kano, Yobe, and Gombe mark the beginning of a broader nationwide effort," he said.
Additionally, the minister revealed that since December 2023, contracts have been awarded for the construction of 3,500 housing units in 13 states under the 2023 supplementary budget. This includes 500 units in Kano and 250 units each in Katsina, Sokoto, Yobe, Gombe, Nasarawa, Benue, Osun, Oyo, Abia, Ebonyi, Delta, and Akwa Ibom.
The Renewed Hope City in Kano will consist of:
100 units of 1-bedroom semi-detached bungalows
300 units of 2-bedroom semi-detached bungalows
100 units of 3-bedroom semi-detached bungalows
Meanwhile, the Renewed Hope Estates in Katsina, Yobe, and Gombe will each feature:
50 units of 1-bedroom semi-detached bungalows
100 units of 2-bedroom semi-detached bungalows
50 units of 3-bedroom semi-detached bungalows
To enhance affordability and accessibility, the housing designs allow for expansion. Beneficiaries can initially acquire a one-bedroom unit and later expand to two or three bedrooms as their financial situation improves.
The project is also expected to generate significant employment opportunities. With an estimated 25 direct and indirect jobs per housing unit, the construction of these 1,250 units is projected to create approximately 31,250 jobs, benefiting both skilled and unskilled workers. The initiative will also stimulate local economies, providing economic benefits to surrounding communities.
As part of the effort to make homeownership more accessible, the Federal Mortgage Bank of Nigeria will provide financing options. These include single-digit interest rate mortgages with up to 30-year repayment plans, as well as rent-to-own schemes. Under these schemes, beneficiaries can move into their homes while making monthly, quarterly, or annual payments, and outright purchase options will be available for high-income earners.
The N50 billion allocated in the 2023 Supplementary Budget for the Ministry of Housing and Urban Development will fund the 1,250 housing units currently under construction. The minister assured that states not included in this phase would be covered under the 2024 budget as part of the broader Renewed Hope Housing Programme, which aims to serve all regions of Nigeria.