The federal government has assured that the construction of 50,000 Renewed Hope Housing Units started under phase one would be delivered in three months.
The Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa gave the assurance at the groundbreaking ceremony of the 250-Housing Unit Renewed Hope Estate in Damaturu, the Yobe State capital.
Dangiwa, who was represented by the Minister of State for Housing and Urban Development, Engr Abdullahi Tijjani Gwarzo, said the 250 housing units in every state can be expanded as the financial conditions of the homeowners improve, ensuring long-term suitability and affordability.
He said under phase one, the government aims to deliver 50,000 housing units across Nigeria, including both cities and estates strategically distributed in all six geopolitical zones and the FCT.
The minister charged the developers including Katalyst Dynamics & Contracting Co. Ltd, Jikantiti Nigeria Limited, MB Yalwa Contractors Ltd, and 2 Horses Ventures Limited, to adhere strictly to the project specifications, emphasizing the importance of quality and timely completion within three months.
Engr Gwarzo also highlighted the various financing options available to prospective homeowners, such as single-digit mortgage loans with terms up to 30 years provided by the Federal Mortgage Bank of Nigeria, Rent-to-Own schemes, and outright purchase options.
He also underscored the economic impact of this housing initiative, noting that each housing unit’s construction can generate an average of 25 direct and indirect jobs, potentially creating over 6,500 jobs through this project alone.
In his remarks, Governor Mai Mala Buni of Yobe State said his administration has constructed 2,350 housing units across the 17 local government areas of the state in the last four years.
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