Federal Gov’t Targets Over $150bn In Dead Capital From Land Reforms

The federal government is looking to unlock more than $150 billion in dead capital and expand its economy by at least 30 per cent through a National Land Registration and Titling Programme, an initiative which is in partnership with the World Bank.

Speaking during the Federal Ministry of Housing and Urban Development 2025 sector retreat on Wednesday,  minister, Federal Ministry of Housing and Urban Development, Ahmed Musa Dangiwa, stated that the programme will “increase the formalisation of land transactions in the country by 50 per cent over a 10-year period”.

Dangiwa emphasised the importance of prioritising housing as a catalyst for economic growth, stating that investment in housing and urban development is not only a moral necessity but also an economic imperative.

“When we provide people with decent homes and build livable communities, we are not only improving their quality of life, making them proud and patriotic Nigerians, but we are also developing the economy and ensuring national security,” the minister said at the retread entitled: ‘Actualising the Renewed Hope Agenda for Housing and Urban Development: Examining Strategies, Identifying Opportunities to Boost Scale and Impact’ held in Lagos.

Africa’s most populous nation is confronted with a huge housing divide that has left no fewer than 43 million households living in substandard housing with the majority of cities surrounded by slums, a situation the minister described as not “encouraging”.

RELATED

BetKing Promotes Social Impact At NSF

19 hours ago

Oxfam Urges Nigerians To Embrace Responsible Plastic Use

19 hours ago

“We have a big housing problem, and we intend to approach fixing it in a big way. Small efforts will not take us anywhere,” Dangiwa declared.

The minister who took office some 19 months ago has among other key mandates to increase the supply and availability of decent and affordable housing to Nigerians while implementing land reforms to improve land administration, thereby unlocking the capacity of the real estate sector to contribute to economic growth and grow the Gross Domestic Product (GDP).

Dangiwa stated that in line with his deliverables to provide 20,000 housing units annually to fill the gap, “we can say that with 10,112 housing units under construction in 14 locations nationwide, we are making progress”.

The architect noted that the ministry “upscaled and expanded” the National Urban Renewal and Slum Upgrade Programme in line with the urban development component of its mandate.

“We currently have over 100 projects completed in several locations nationwide to improve the livability of Nigerians in semi-urban, rural areas, and villages,” he stated.

In his remarks, chairman of the Senate Committee on Lands, Housing and Urban Development,  Aminu Tambuwal,stated that the ministry plays a pivotal role in national economic growth and social stability.

“To achieve scale and impact, we must adopt innovative strategies that unlock opportunities for affordable housing, expand private sector participation, and strengthen institutional frameworks,” Tambuwal said.

The former governor of Sokoto state however reaffirms his commitment to supporting policies and legislative frameworks that will drive efficiency in the sector “to ensure that housing initiatives align with the Renewed Hope Agenda of the present administration and international best practices.”

Permanent secretary, Federal Ministry of Housing and Urban Development, Shuaib Belgore, said in his address that the retreat presents a unique opportunity to share achievements, assess progress, identify challenges, outline plans and collectively develop actionable strategies that will drive meaningful growth for the benefit of Nigerians.

“A major highlight of this retreat will be the signing of Performance Contracts between the minister and the chief executive officers of our agencies,” Belgore stated.

“This signifies a strong commitment to accountability, efficiency and results-driven governance in line with the Performance Management System (PMS) policy and guidelines of the Office of the Head of the Civil Service of the Federation (OHCSF).

“These agreements will set measurable targets for delivering housing solutions, enhancing urban development policies and ensuring sustainable infrastructure across the country,” he further said.