The Minister of Housing and Urban Development, Ahmed Dangiwa, has projected that the ministry could generate N300bn from housing sales.
Dangiwa made this statement while briefing the Senate Committee on Lands, Housing, and Urban Development during their oversight visit.
He noted that with a budget allocation of N500bn, the ministry could return N300bn to government coffers through house sales.
The minister highlighted the groundbreaking work on the Renewed Hope Cities and Estates, funded by the 2023 supplementary budget.
Ongoing Housing Developments and Public-Private Partnerships
Dangiwa explained that the ministry is collaborating with private developers to construct 100,000 housing units nationwide.
The pilot phase in Karsana, Abuja, will deliver 3,112 units, while Abuja itself will receive 20,000 housing units.
A consortium of developers is financing these projects, with the ministry providing off-taker guarantees for loan access.
Dangiwa assured that 1,000 housing units will be ready for delivery by year-end, with more units due mid-next year.
Oversight and Accountability in Housing Projects
The minister presented detailed reports on budget performance, urban renewal, and federal government housing assets nationwide.
A monitoring committee, including ministry officials and private sector partners, tracks project progress weekly for accountability.
Senate Committee Chairman Aminu Tambuwal emphasized the importance of ensuring appropriated funds are utilized effectively.
He acknowledged that additional funding is necessary to expand housing projects and support economic growth across Nigeria.
