Business News

Renewed Hope City: FG to launch construction of 1,250 housing units in Northern states

Arc. Ahmed Musa Dangiwa

The Federal Government will begin constructing 1,250 housing units in four Northern states this week as part of the first phase of the Renewed Hope Cities and Estates Project.

A statement on the Ministry of Housing and Urban Development’s website indicates that the Minister of Housing, Arc. Ahmed Musa Dangiwa will conduct groundbreaking ceremonies for these units in Kano, Katsina, Yobe, and Gombe from May 22 to May 25, 2024.

This follows the successful completion of the contracting process and the mobilization of reputable developers to start work on these sites, the statement noted.

The statement further disclosed that Arc. Dangiwa highlighted these housing units are being funded by the N50 billion 2023 Supplementary Budget of the Ministry of Housing and Urban Development.

This budget covers the 1,250 housing units as part of the contracts for 3,500 units awarded since December 2023 in thirteen states. This includes 500 units in Kano and 250 units each in the following twelve states: Katsina, Sokoto, Yobe, Gombe, Nasarawa, Benue, Osun, Oyo, Abia, Ebonyi, Delta, and Akwa Ibom.

The statement outlined the following schedule for the 1,250 housing units to be initiated this week:

On May 22, 2024, the Housing Minister will inaugurate the construction of 250 units at the Renewed Hope Estate site in Katsina, which will include 50 units of 1-bedroom semi-detached bungalows, 100 units of 2-bedroom semi-detached bungalows, and 50 units of 3-bedroom bungalows.

On May 23, 2024, Arc. Dangiwa will begin the construction of 500 housing units at the Renewed Hope City site in Kano. This project will consist of 100 units of 1-bedroom semi-detached bungalows, 300 units of 2-bedroom semi-detached bungalows, and 100 units of 3-bedroom bungalows.

On May 24, 2024, the Housing Minister will travel to Yobe to initiate a 250-unit project at the Renewed Hope Estate. This development will include 50 units of 1-bedroom semi-detached bungalows, 100 units of 2-bedroom semi-detached bungalows, and 50 units of 3-bedroom bungalows.

On May 25, 2024, Arc. Dangiwa will perform the groundbreaking ceremony for a 250-unit Renewed Hope Estate in Gombe, comprising 50 units of 1-bedroom semi-detached bungalows, 100 units of 2-bedroom semi-detached bungalows, and 50 units of 3-bedroom bungalows.

The statement further noted that Arc. Dangiwa emphasized the use of organic designs to enhance affordability and ease of offtake. These designs allow one-bedroom units to be expanded into two-bedroom and three-bedroom units as beneficiaries’ incomes increase over time, ensuring that the housing units remain accessible and adaptable to residents’ evolving financial circumstances.

The Housing Minister assured that the Renewed Hope Housing Programme will cover all states in the country, with those not included in the 2023 Supplementary Budget to be covered under the 2024 Budget. He urged all state governments that have not yet provided land for the projects to do so promptly, enabling the Ministry to finalize project plans.

President Bola Tinubu launched the Renewed Hope Cities and Estates programme in February 2024 with a 3,112 housing unit project in Karsana, Abuja.

This initiative aims to address social inequality by offering various affordable ownership options, including single-digit, up to 30-year mortgage loans from the Federal Mortgage Bank of Nigeria, rent-to-own schemes, and outright purchases for high-income earners.

The programme is designed to operate as a cross-subsidy initiative, with 80% of units sold at commercial rates and 20% at concessional rates for low- and medium-income Nigerians affiliated with the Nigeria Labour Congress and the Trade Union Congress.

Each state government and the Federal Capital Territory Administration were requested to provide at least 50 hectares of land near their capitals, but not all have complied.