We’ll deliver 500,000 housing units annually for 10yrs – Minister

The Minister of Housing and Urban Development, Arc. Ahmed Dangiwa has revealed that the federal government through the ministry is currently working to deliver 100,000 in the next decade as part of efforts to reduce housing deficit in the country.

The minister made the disclosure in Abuja on Monday at the Public Private Partnership (PPP) Renewed Hope Housing Summit with the theme: “Leveraging Public-Private Partnerships (PPPs) to Deliver the Renewed Hope Agenda for Housing.”

Dangiwa stated that Nigeria is currently battling a housing deficit of about 28 million, putting many citizens at an uncomfortable situation where they are unable to access basic shelter.

Therefore, he said “To bridge this gap and meet rising demand, we are working to deliver 500,000 housing units annually over the next decade. At an average cost of N10 million per unit, this translates to an annual financial requirement of over N5 trillion (approximately $6.25 billion).

“This scale of investment necessitates a collaborative strategy involving both the government and the private sector. This underscores the relevance of this summit’s theme: Leveraging Public-Private Partnerships (PPPs) to Deliver the Renewed Hope Agenda for Housing,” he said.

Leveraging on private partnerships, he also announced that the ministry is working to deliver 100,000 units with a Consortium of Developers.

“Under phase One of the MoU, we aim to deliver seven (7) Renewed Hope Cities targeting the Federal Capital Territory (FCT), Lagos, Kano, Maiduguri, Enugu, Port Harcourt, and Nasarawa with effective demand for housing.

As most of you are already aware, construction is already in progress, with 6,612 housing units underway in the FCT (3,112 units), Lagos (2,000 units), and Kano (2,000 units). The housing types include apartment buildings with 1, 2, and 3-bedroom units, as well as terraces, duplexes and bungalows. The target beneficiaries for this component are upper-middle to high-income earners residing in major cities across the country,” the minister further explained.