The Honorable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, is set to initiate the nationwide groundbreaking for phase 1 of the Renewed Hope Cities and Estates project.
This phase will commence with the construction of 1,250 housing units across four states in Northern Nigeria.
According to a statement by Special Assistant Media & Strategy to the Minister, Mark Chieshe, the groundbreaking will begin in Katsina, followed by Kano, Yobe, and Gombe.
This exercise follows the program’s official launch by President Bola Ahmed Tinubu in February 2024, which saw the commencement of a 3,112-housing unit project in Karsana, Abuja. With the contracting process completed and reputable developers mobilized, the stage is set for significant developments in the housing sector.
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Arc. Dangiwa reiterated the project’s alignment with President Tinubu’s vision to transform Nigeria into a vast construction site, thereby unlocking the potential of the housing sector to create jobs, stimulate economic growth, and contribute to a $1 trillion economy.
“We are committed to our promise to His Excellency, President Bola Ahmed Tinubu, GCFR, to turn the country into a huge construction site and unlock the potential of the housing sector to create jobs, catalyze economic growth, and contribute to the $1 trillion economy while boosting national development. The 1,250 units that we are breaking ground for in Katsina, Kano, Yobe, and Gombe is only a start. After this, we shall be proceeding to other parts of the country.,” he said.
Since December 2023, under the 2023 Supplementary Budget, the Ministry has awarded contracts for 3,500 housing units across thirteen states, including Katsina, Sokoto, Yobe, Gombe, Nasarawa, Benue, Osun, Oyo, Abia, Ebonyi, Delta, and Akwa Ibom. The Renewed Hope City in Kano will have 100 one-bedroom, 300 two-bedroom, and 100 three-bedroom bungalows, while the Estates in Katsina, Yobe, and Gombe will each include a mix of one-bedroom, two-bedroom, and three-bedroom bungalows.
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“To enhance affordability and ease of offtake, we used organic designs where one bedroom can be expanded to two-bedrooms and three-bedrooms as the income of beneficiaries increase over time,” the minister stated.
The project also aims to address social inequality by providing various affordable homeownership options. These include single-digit mortgage loans with terms up to 30 years, Rent-to-Own schemes, and outright purchase options for higher-income earners.
Funded under the N50 billion 2023 Supplementary Budget, the Minister assured that the Renewed Hope Housing Programme is designed to cover all states. The minister urged states yet to provide land for the projects to do so promptly to facilitate the finalization of project plans.