The Federal Government of Nigeria has announced plans to deliver 100 housing units in each of the country’s 774 local government areas through a proposed National Social Housing Fund. This initiative, aimed at addressing the nation’s housing deficit, will rely on voluntary donations from at least 10% of Nigerians.
Funding Through Citizen Contributions
Speaking to journalists in Abuja, Minister of Housing and Urban Development, Musa Dangiwa, outlined the funding model, which involves voluntary monthly contributions of ₦5,000 for one year by 10% of Nigeria’s population—approximately 20 million people.
“If 10% of Nigerians contribute ₦5,000 monthly for a year, we will generate ₦1.2 trillion, sufficient to build 100 houses per local government,” the Minister explained.
The government aims to use these funds to construct over 77,000 houses nationwide, providing free two- to three-bedroom units for the most vulnerable populations in each local government.
Renewed Hope Agenda: Housing for All
Dangiwa emphasized that this initiative is part of the broader Renewed Hope Agenda, which includes:
- Renewed Hope Cities: Larger urban housing projects in the Federal Capital Territory, Kano, and Lagos.
- Renewed Hope Estates: 12 estates across states, each offering 250 housing units.
- Construction of over 10,000 housing units across 14 active sites, ensuring equitable distribution in all six geo-political zones.
“Our goal is clear: to build at least one Renewed Hope City in each geo-political zone, bringing homes closer to those who need them most,” Dangiwa added.
Advocacy for Increased Housing Budget
To sustain this housing program, the Ministry has successfully lobbied the National Assembly for a minimum annual housing budget of ₦500 billion starting in 2025. This allocation will address Nigeria’s estimated housing deficit of 550,000 units annually.
Economic Impact: Jobs and Stability
The housing initiative is also a significant driver of economic growth and job creation. According to the Minister:
- Each housing unit generates an average of 25 direct and indirect jobs.
- Over 252,800 jobs have been created nationwide, employing professionals such as architects, engineers, and surveyors, as well as skilled laborers like masons, carpenters, and plumbers.
- Workers earn an average daily wage of ₦5,000, which surpasses the national minimum wage and contributes to economic stability while reducing crime rates.
A Collaborative Vision for Nigeria’s Future
The Federal Government’s housing initiative reflects a vision of inclusivity and sustainability, focusing on vulnerable populations while revitalizing communities and stimulating the economy. With plans for broader expansion, the program is a cornerstone of the administration’s effort to close Nigeria’s housing gap and uplift citizens nationwide.