The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, has revealed that the much-talked-about Renewed Hope Social Housing Programme will soon be launched by President Bola Tinubu as part of initiatives to address the housing needs of Nigerians, regardless of class or income level.
The Minister made this known while receiving a delegation from Creative Sphere Limited at the Ministry’s headquarters in Mabushi, Abuja, on Thursday.
Arc. Dangiwa explained that the Renewed Hope Social Housing Programme was designed to provide homes for low-income earners, the unemployed, vulnerable groups, and Internally Displaced Persons (IDPs), covering both the formal and informal sectors.
In addition, the Federal Government planned to construct 100 housing units in each of the 774 local government areas across the country, amounting to a total of 77,400 housing units. The construction is expected to be completed within one year from the date of launch.
Describing the programme as visionary, the Minister noted that it reflected President Tinubu’s commitment to ensuring that every Nigerian has access to decent housing, adding it underscored his passion for a better Nigeria, where even the most vulnerable can own a livable home.
Arc. Dangiwa further disclosed that the programme will be funded through the Renewed Hope Infrastructure Development Fund (RHIDF).
Regarding the allocation of the houses when completed, the Minister explained that 80% of the houses will be sold to Nigerians living in the local government areas who earn a living wage, adding that interested individuals will be required to contribute one-third of their monthly income.
“Anyone earning as low as N30,000 per month will be able to purchase a house, as they will only need to pay N10,000 monthly, which is one-third of their earnings. Similarly, someone earning N90,000 will pay N30,000.
“Each estate will be equipped with auxiliary facilities such as recreational areas, a primary school, a police outpost, a clinic, and a shopping mall,” he said.
According to the minister, the remaining 20% of the housing units will be allocated free of charge to citizens with low or no income, such as widows, orphans, and others identified as vulnerable in society.
The minister further highlighted that the Renewed Hope Social Housing Programme is the third component of the broader Renewed Hope Housing initiative, which includes the Renewed Hope Housing Estates and Renewed Hope Cities, bringing the total to three components.
Earlier in the meeting, chairman of Creative Sphere Limited, Monday Ogedengbe, told the Minister that their visit was to seek collaboration with the Ministry for an upcoming event scheduled for later this year. He noted that Creative Sphere aimed to highlight the role of real estate in national economic growth by bringing a carnival-style awareness campaign to the sector, both nationally and internationally.
