The National Assembly Committees have increased the Federal Government’s housing budget by N50bn to support development initiatives.
Minister of Housing and Urban Development, Ahmed Dangiwa, disclosed this at the 2025 Sector Retreat in Lagos.
He commended the National Assembly for intervening after the Budget Office initially reduced the ministry’s proposed budget.
Dangiwa emphasized that the additional funds would create jobs, empower businesses, and boost Nigeria’s overall economic growth.
He stated that the intervention would benefit many Nigerians through expanded housing projects and settlement of inherited liabilities.
However, Dangiwa noted the ministry requires an extra N360bn to cover more projects across additional 18 states.
The extra funding would also support urban renewal programmes for over 100 sites and settle outstanding liabilities.
Dangiwa announced a stakeholder management team, led by the Minister of State and Permanent Secretary, for engagements.
He stressed continuous collaboration with the National Assembly and Budget Office to secure further housing development funding.
The Ministry allocated N11.5bn in its 2025 budget for constructing 20,000 housing units under the Renewed Hope Agenda.
This figure represents slightly over 10 percent of the ministry’s total N98.1bn budget allocation for the coming year.
Senate Committee Chairman on Housing, Aminu Tambuwal, reiterated lawmakers’ support for policies promoting affordable housing delivery.
Tambuwal highlighted priority funding for Renewed Hope City projects, federal secretariats, and liabilities owed to local contractors.
He revealed plans to reinstate the Federal Housing Authority in the budget, replicating successes like FESTAC Town.
Tambuwal also committed to supporting the Federal Mortgage Bank’s recapitalisation to enhance affordable housing delivery capacity.
These initiatives aim to bridge Nigeria’s housing deficit, improve infrastructure, and stimulate long-term national economic growth.
