FG housing scheme creates over 250,000 jobs nationwide, says Minister

By Kunle Sanni

The Federal Government’s housing construction initiatives have generated over 250,000 new jobs across Nigeria, according to the Minister of Housing and Urban Development, Ahmed Musa Dangiwa.

Speaking at the Presidential Villa in Abuja on Monday, Dangiwa provided updates on the government’s efforts to address the housing deficit while fostering economic growth and job creation under the Renewed Hope Agenda.

Dangiwa noted that each housing unit under construction creates approximately 25 jobs across various professions, including architecture, engineering, surveying, masonry, carpentry, plumbing, and general labor. Workers earn an average daily wage of ₦5,000, which exceeds the national minimum wage.

“These housing projects are revitalizing local communities by creating jobs, stimulating local economies, and empowering thousands of Nigerians. We are not just building homes; we are building opportunities,” the Minister said.

Under the Renewed Hope Cities and Estates Programme, the Ministry has commenced construction at 14 sites nationwide. The program aims to deliver over 10,000 housing units across Nigeria’s six geopolitical zones.

The larger Renewed Hope Cities are being developed in key locations such as the Federal Capital Territory, Kano, and Lagos. Additionally, smaller Renewed Hope Estates, each consisting of 250 homes, are being constructed to meet local housing needs.

“We aim to build at least one Renewed Hope City in each geopolitical zone to ensure our housing initiatives are geographically and economically inclusive,” Dangiwa said.

To make housing accessible, the government has introduced several initiatives, including:

National Housing Fund (NHF): Managed by the Federal Mortgage Bank of Nigeria (FMBN), the NHF offers loans of up to ₦50 million at a 6% interest rate with a repayment period of up to 30 years.

Rent-to-Own Scheme: This allows Nigerians to move into homes while paying toward ownership over 30 years, with no initial equity required.

“These initiatives provide life-changing pathways to homeownership for millions of Nigerians who otherwise would not afford it,” Dangiwa explained.

The Ministry has launched the Renewed Hope Online Housing Delivery Portal, designed to improve transparency and accessibility in the housing allocation process. The portal has over 47,605 registered users, with more than 1,000 applications already processed, eliminating lobbying and backdoor dealings.

The Renewed Hope Estates are financed through a ₦50 billion allocation from the 2023 supplementary budget, with an additional ₦27.2 billion budgeted for 2024.

Public-private partnerships (PPPs) have also raised over ₦40 billion for projects like the Karsana Renewed Hope City, which is backed by a ₦100 billion Bankable Offtaker Guarantee from the FMBN.

Despite these efforts, Dangiwa acknowledged Nigeria’s significant housing deficit, with an estimated 550,000 units needed annually to meet demand.

He called for an annual housing budget of at least ₦500 billion starting in 2025, a proposal that has received support from the National Assembly.

The Ministry is also implementing reforms in land administration and establishing building materials manufacturing hubs to reduce construction costs. These hubs, developed under a build-operate-transfer model, aim to attract private investment, boost local economies, and create jobs.

“Under the Renewed Hope Agenda, we are not just building houses; we are building hope, jobs, and economic opportunity for all Nigerians. This is our commitment, and we will continue to serve with dedication and passion,” Dangiwa said.