The Federal Government says President Bola Tinubu’s Renewed Hope Agenda is firmly focused on closing Nigeria’s housing deficit and accelerating broad-based economic growth.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated this on Tuesday at the 8th Affordable Housing Finance and Investment Summit 2025 in Abuja. The summit’s theme was “Innovative Financing of Affordable Housing Under the Renewed Hope Agenda.”
Dangiwa, represented by the Director of Public Buildings and Housing Development, Pemi Temitope, said the administration was pursuing a comprehensive strategy to expand affordable housing, stimulate job creation, and strengthen local industries linked to construction.
He added that the Federal Government had activated a N250 billion intervention fund to address the housing deficit.
“Our housing deficit remains colossal, estimated in tens of millions of units, and the bottlenecks are well known — high cost of building materials and limited access to finance,” Dangiwa said.
He explained that under the Renewed Hope Housing Programme, the government is targeting 50,000 units in Phase 1, with over 10,000 units currently under construction in 15 locations nationwide.
Dangiwa reiterated that housing is not a luxury but a fundamental human right and a critical enabler of national development.
“The government is no longer seeing housing as a cost, but as an economic engine, especially for the public sector. To address the high cost of building materials, the Ministry plans to establish Building Materials Manufacturing Hubs in each of the six geopolitical zones. This initiative will reduce costs and eliminate supply-chain bottlenecks,” he added.
Also speaking, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reaffirmed the N250 billion intervention fund and urged developers to participate in the programme to help reduce the housing deficit.
Represented by the Director of Home Finance, Alhaji Ali Mohammed, Edun said, “The Ministry of Finance is committed to providing financial assistance to reduce the housing deficit in Nigeria.”
He further explained that parallel efforts are underway to boost homeownership among civil servants through a restructured Federal Government Staff Housing Loans Board, which has increased loan thresholds to allow more civil servants to own homes.
In a goodwill message, former Chief of Staff to the President, Prof. Ibrahim Gambari, linked housing success to national stability.
“When people talk about security, they think of physical security, which is important, but the biggest security is human security — food security, housing security, environmental security, and economic security,” Gambari said, urging collective efforts to tackle Nigeria’s housing challenges.
Earlier, summit convener Dr. Yemi Adelakun said past government schemes had largely failed to deliver meaningful results. He called on stakeholders to collaborate to provide what he termed “Tinubu houses” to ordinary Nigerians on a revolving basis, noting that successful housing projects have multiplier effects, creating jobs and driving economic development.
