The Federal Government is launching a major housing plan to help Nigerians get affordable homes. The project is called the Renewed Hope Social Housing Programme.
77,400 Homes Planned Nationwide
President Bola Tinubu will launch the plan soon. The government wants to build 100 houses in each of the 774 local government areas. This means a total of 77,400 homes across the country. Construction will start after the launch and should finish within a year.
Housing for All Income Levels
The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, explained the goal. The project will help low-income earners, unemployed people, displaced persons, and the vulnerable. It will cover both formal and informal workers.
Affordable Payments
Eighty percent of the homes will be sold to local people. Buyers will pay only one-third of their monthly income. For example, someone earning N30,000 will pay N10,000 per month for a house. The goal is to make homeownership possible, even for people with low incomes.
Free Homes for the Vulnerable
The remaining 20 percent of the houses will be given out for free. These will go to people who have no or very low income, like widows, orphans, and others in need.
Extra Facilities Included
Each housing estate will have basic services. These include a school, a clinic, a police post, a market, and a play area. The aim is to create safe, healthy, and complete communities.
Part of a Bigger Plan
This project is part of a larger housing effort. It includes two other programs: Renewed Hope Cities and Renewed Hope Housing Estates. Together, they support better housing and living conditions across Nigeria.
Private Sector Partnership
During a recent meeting, Monday Ogedengbe, chairman of Creative Sphere Limited, met with the Minister. His company wants to partner with the Ministry. They plan to promote real estate growth through a major event later this year.
