Federal Government Secures N70 Billion from Private Investors for Housing Drive

At the 19th Africa International Housing Show in Abuja, the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, revealed that the federal government has secured more than ₦70 billion in private-sector investment to fuel its Renewed Hope Housing Programme, leveraging public-private partnerships (PPPs) to close Nigeria’s housing gap.

To amplify delivery, the ministry also rolled out a “state-by-state” campaign, aiming to ensure that affordable housing projects reach all 36 states plus the Federal Capital Territory. Dangiwa underscored that beyond constructing buildings, the government is building the economic framework necessary for housing affordability and long-term viability.

The Renewed Hope Housing Programme includes three distinct project tiers designed for varied population segments: Renewed Hope Cities, Renewed Hope Estates, and Renewed Hope Social Housing Estates. To ease access for workers and young families, the Federal Mortgage Bank of Nigeria (FMBN) unveiled two novel housing finance products, a Rent-to-Own scheme and a Rental Assistance product, while introducing the upcoming MOFI Real Estate Investment Fund to bolster long-term mortgage access.

Additionally, the Federal Government is partnering with state agencies, private developers, and funding stakeholders to close execution gaps. This involves embedding “Housing Reform Champions” within state administrations, hosting housing-focused roundtables, and supporting states in structuring viable housing projects.

This comprehensive PPP-centered strategy, backed by government and private collaboration, marks a bold push in Nigeria’s quest to shrink its significant housing deficit through sustainable financing and nationwide inclusion.