President Bola Tinubu has said that the Federal Government is constructing more than 15,000 housing units across Nigeria as part of efforts to expand access to affordable housing and address the country’s housing deficit.
Tinubu made this known in a statement shared on his official X page on Tuesday.
He said the housing projects are part of the Renewed Hope Agenda, which targets the delivery of 100,000 homes nationwide through housing cities and estates across the country.
What they are saying
President Tinubu said the administration is committed to delivering 100,000 homes nationwide, including 50,000 in the first phase through housing cities of 1,000 units in each geopolitical zone and the FCT, and estates of up to 500 units in remaining states.
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He said more than 15,000 housing units are currently under construction across Nigeria, with multiple sites active.
Key projects include over 3,000 units at Karsana in Abuja and a 2,000-unit housing city in Ibeju-Lekki, Lagos, which he said is at an advanced stage and already open for sales.
- “We promised a programme built on a national scale, 100,000 homes in all, with 50,000 in the first phase through cities of 1,000 units in every geopolitical zone and the Federal Capital Territory, and estates of up to 500 units in the remaining 30 states,” he said.
- “What stands today is no longer a drawing. We broke ground on more than 3,000 homes at Karsana in Abuja, the 2,000-unit city at Ibeju-Lekki in Lagos has reached advanced completion with sales already underway, and across the country, more than 15,000 units are rising as I write this.”
Tinubu said the programme is also backed by reforms, including collaboration with the World Bank to improve land titling and expand formal land registration.
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He said reforms have been introduced to improve equipment leasing in the construction sector, making it easier for developers to access machinery.
- Tinubu said uniform pricing for government-backed housing has been published to improve transparency, while building materials hubs are being developed across the six geopolitical zones.
- On housing finance, he said 1,859 families across 25 states have accessed N128 billion in mortgages through the MOFI Real Estate Investment Fund. He said the loans carry a 9.75% interest rate and are repayable over 20 years.
- He also referenced the Family Homes Funds programme, targeting low-income households and vulnerable groups, with a mandate to deliver 500,000 homes and create about 1.5 million jobs.
The President acknowledged Nigeria’s large housing deficit but said progress is being made across land, construction, and financing.
He added that housing should be seen not only as social intervention but also as an economic driver linked to jobs, industrial demand, and output.
What you should know
Former Minister of Housing and Urban Development, Musa Dangiwa, said one-bedroom units under the Renewed Hope Estates Programme cost N8 million to N9 million.
- However, Renewed Hope Cities developed under PPP arrangements cost about N22 million.
- He said the difference reflects funding structures, with estates subsidised by government while PPP projects rely on private financing and bear land and infrastructure costs.
Dangiwa said PPPs are necessary to address Nigeria’s housing deficit, estimated at 550,000 units annually over the next decade, requiring about N5.5 trillion in yearly investment.
He added that Renewed Hope Cities target middle- and high-income earners, while estates focus on lower-income households.
He also noted that Nigeria’s population growth and urbanisation require housing that meets global standards of safety and infrastructure.
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