FG Clarifies Scope of Uniform Housing Prices Under Renewed Hope Programme
The Federal Ministry of Housing and Urban Development has clarified that the recently announced uniform housing prices apply exclusively to estates developed through the Ministry’s budgetary allocations, not to projects executed under public-private partnerships (PPP).
In a statement issued on Thursday by the Director of Press and Public Relations, Badamasi S. Haiba, the Ministry explained that the approved pricing structure covers only the Renewed Hope Housing Estates financed directly by the federal government. It does not extend to the Renewed Hope Cities being developed in Karsana (Abuja), Janguza (Kano), and Ibeju-Lekki (Lagos), which operate under PPP models.
Clarification on Public Inquiries
The clarification follows growing public inquiries about the pricing framework of the Renewed Hope Housing Programme, one of the flagship initiatives of President Bola Tinubu’s administration. The programme aims to expand access to affordable housing nationwide by combining government funding and private-sector investment.
According to the Ministry, the distinction between the two project categories is essential to understanding how costs are determined. Estates fully funded through the federal budget are priced to reflect government-subsidised construction costs, while PPP-driven developments are influenced by market dynamics and private-sector financing structures.
Renewed Hope Programme Overview
The Renewed Hope Housing Programme seeks to bridge Nigeria’s significant housing deficit estimated at over 20 million units by providing affordable and accessible housing solutions across states. Through its dual model of public funding and PPP partnerships, the initiative intends to stimulate job creation, improve urban infrastructure, and strengthen private-sector participation in real estate development.
Outlook
The Ministry reaffirmed its commitment to transparency and affordability in housing delivery, noting that ongoing communication with the public remains key to achieving trust and clarity. As the Renewed Hope Programme progresses, industry stakeholders continue to monitor how its funding structure and pricing policies will influence Nigeria’s broader housing affordability landscape.
