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Federal Government Pledges to Make Many Nigerians Homeowners Through the Renewed Hope City & Estate Programme

Published by Tope Fakinlede on December 1st, 2024.

Federal Government Pledges to Make Many Nigerians Homeowners Through the Renewed Hope City & Estate Programme

The Federal Government has announced that a significant number of Nigerians will have the opportunity to own homes through the ‘Renewed Hope City and Estate Programme,’ a major initiative under the Ministry of Housing and Urban Development. This program is aimed at providing easy access to affordable and secure housing for citizens across the country.

While speaking at the South-West Housing Exhibition in Ibadan, the Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, explained that the scheme is designed to simplify homeownership by leveraging a centralized online platform that streamlines the process, making it easier and more efficient for Nigerians to secure homes.

Represented by Aigbokhai Elizabeth, the Federal Controller for Oyo State at the Ministry of Housing and Urban Development, the Minister emphasized that the success of the housing sector is a result of innovative funding models implemented as part of President Bola Tinubu’s Renewed Hope agenda. He pointed out that these efforts combine various approaches, including budgetary allocations, public-private partnerships, international collaborations, and the support of ministry agencies.

Many of the houses under the scheme are currently at the roofing stage of construction, and once completed, they will be accessible via the website www.renewedhopehomes.fmhud.gov.ng. This platform allows Nigerians at home and abroad to browse available properties, select homes, and make payments using multiple options.

Dangiwa also highlighted the potential of the housing sector to drive economic growth, citing the creation of an estimated 25 jobs per house. He added that over 252,800 direct and indirect jobs, including both skilled and unskilled labor, have been generated through the housing projects initiated by the current administration.

During the exhibition, Dr. Olayomi Shodimu, Convener and Managing Director of the South West Exhibition, emphasized that the event serves as an annual gathering for stakeholders to discuss the challenges in the housing sector and collaborate on viable solutions. He stressed the importance of creating a new wave of homeowners in the region by offering affordable housing options with flexible payment terms.

Dr. Shodimu further noted that the region requires a fresh approach to affordable and sustainable housing, which the exhibition aims to promote. Oyo State’s Commissioner for Lands and Urban Development, Akinfunmilayo Williams, also praised the initiative, stating that it would bring together key stakeholders to tackle the housing deficit in the South West. Williams assured that the state government would work closely with developers, offering land opportunities across the region and enacting policies to ensure the successful delivery of housing projects.

The collaboration between government and private sector players is expected to significantly reduce the housing gap and ensure that more Nigerians can access quality, affordable homes.