President Bola Tinubu has said his administration is making significant progress in delivering affordable housing to Nigerians, insisting that the promises contained in his Renewed Hope Agenda are being translated into tangible projects across the country. In a statement outlining achievements in the housing sector, Tinubu said his government had……
President Bola Tinubu has said his administration is making significant progress in delivering affordable housing to Nigerians, insisting that the promises contained in his Renewed Hope Agenda are being translated into tangible projects across the country.
In a statement outlining achievements in the housing sector, Tinubu said his government had moved beyond policy declarations to actual implementation, with thousands of housing units already under construction in different parts of the country.
According to the statement he personally signed, the President, the administration had pledged to deliver 100,000 homes nationwide, including 50,000 units in the first phase through housing cities of 1,000 units in each geopolitical zone and the Federal Capital Territory, as well as estates of up to 500 units in the remaining 30 states.
He said work had already commenced on more than 3,000 housing units in Karsana, Abuja, while the 2,000-unit housing city in Ibeju-Lekki, Lagos State, had reached an advanced stage of completion, with sales already underway.
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Tinubu added that over 15,000 housing units were currently under construction across the country.
The President said his administration had also focused on addressing structural challenges in the housing sector, particularly issues relating to land ownership, building materials and equipment.
He explained that the government was collaborating with the World Bank to improve land titling and registration, with the goal of increasing the proportion of formally registered plots from less than 10 per cent to about 50 per cent nationwide.
Tinubu further stated that reforms had been introduced to strengthen the legal framework governing equipment leasing, enabling builders and contractors to access machinery needed for construction projects with greater certainty.
He noted that the government had also introduced transparent pricing for housing units and established building materials hubs across the six geopolitical zones to support local production and reduce construction costs.
On housing finance, the President said the administration had sought to make home ownership more accessible through affordable mortgage schemes.
He disclosed that through the MOFI Real Estate Investment Fund, 1,859 families in 25 states had secured mortgages worth N128 billion at a fixed interest rate of 9.75 per cent, repayable over 20 years.
The President also highlighted the role of the Family Homes Funds programme, which he said was targeted at providing housing for widows and low-income earners, with a mandate to deliver 500,000 homes and generate about 1.5 million jobs.
While acknowledging that Nigeria’s housing deficit remained substantial, Tinubu said the government was committed to addressing the challenge through sustained investments and reforms.
“I will not stand before you and declare the work finished, because it is not. The housing deficit this nation carries is counted in the millions, and it will take years of steady labour to close, and I would rather say that to you plainly than flatter you with a lie,” he said.
The President argued that for the first time in decades, all segments of the housing value chain were being coordinated simultaneously, covering land administration, construction, building materials, equipment access, financing and home ownership.
He added that housing had evolved beyond a social welfare issue to become a key driver of economic growth, with the real estate and construction sectors now contributing significantly to the country’s Gross Domestic Product.
“That is what I promised for our housing sector, and that is what is now being delivered. Renewed Hope was never charity. It is the right of every Nigerian to a place called home,” Tinubu stated.
