Aminu Tambuwal, chairman of the Senate Committee on Lands, Housing, and Urban Development, emphasized the importance of adopting innovative strategies.
These strategies aim to unlock affordable housing opportunities, expand private sector participation, and strengthen housing sector frameworks.
Tambuwal spoke during a housing sector retreat themed “Actualising the Renewed Hope Agenda for Housing and Urban Development” in Lagos.
He stressed stakeholders must identify challenges, implement solutions, and bridge Nigeria’s housing deficit for improved service delivery.
Tambuwal assured the Senate and National Assembly would collaborate with stakeholders, ensuring alignment with international best practices.
“Funding priority projects is essential to enable the ministry to fulfill its mandate effectively,” Tambuwal said.
Key initiatives include the Renewed Hope City Programme, National Housing Programme, and federal secretariat construction and rehabilitation.
Tambuwal revealed ongoing efforts to reinstate the Federal Housing Authority (FHA) in the national budget for expansion.
The FHA’s reinstatement aims to replicate successful projects like FESTAC Town and Gwarimpa Estate, boosting national housing stock.
In his keynote, Housing Minister Ahmed Dangiwa praised the Senate’s intervention, increasing the ministry’s budget by N50 billion.
He noted the additional funding would empower businesses, create jobs, and offset liabilities, positively impacting Nigeria’s economy.
Dangiwa described housing as a moral necessity and economic driver, crucial for national growth and citizen well-being.
Nigeria must build at least 500,000 housing units annually to address its significant housing deficit, he emphasized.
The ministry is committed to land reforms, unlocking real estate potential, and boosting Nigeria’s Gross Domestic Product (GDP).
Land reforms will improve land administration, increase investment, and drive economic growth across Nigeria’s real estate sector.
Dangiwa stressed that prioritizing housing investments fosters economic development, national security, and improved living standards nationwide.
