Nigeria’s Housing Minister Stresses Youth Empowerment as Crucial to Closing the Housing Deficit
The Minister of State for Housing and Urban Development, Abdullahi Yusuf Atah, has stressed the importance of integrating young Nigerians into the country’s housing market, arguing that sustainable homeownership opportunities for the youth are essential for long-term social stability and inclusive economic growth.
Atah highlighted the Federal Government’s Renewed Hope Housing Programme, a flagship initiative of President Bola Ahmed Tinubu’s administration, which targets the delivery of 50,000 affordable housing units in its first phase. The scheme includes Renewed Hope Cities and Estates, supported by public-private partnerships, to expand access to affordable housing nationwide.
Key financing options under the programme include single-digit mortgage loans through the National Housing Fund, rent-to-own schemes by the Federal Mortgage Bank of Nigeria, and flexible instalment payment systems designed to ease entry into homeownership.
Recent Milestones and Economic Impact
In February 2024, President Tinubu inaugurated a 3,112-unit Renewed Hope City in Karsana, Abuja, signalling early progress. Construction has since commenced on 2,000 units across eight states in the southeast, south-south, southwest, and north-central regions.
The Federal Housing Authority has also opened bids for projects across 17 states, with 1,250 housing units underway in four states. These projects are expected to generate more than 31,000 direct and indirect jobs across construction, supply chains, and allied industries, reinforcing the initiative’s role in stimulating economic activity.
Addressing Barriers to Youth Access
To ensure effective inclusion, Atah underscored the need for measures tailored specifically to young Nigerians. These include preferential financing terms such as reduced down payments, extended repayment timelines, and dedicated quotas within housing allocations. He noted that homeownership is not only about acquiring property but also about anchoring dignity, responsibility, and social stability.
“The Renewed Hope Programme has set Nigeria on a promising path,” Atah said. “But its success depends on embedding the aspirations and participation of youth at its core. Young Nigerians must transition from being bystanders to becoming beneficiaries and custodians of our housing future.”
Outlook
With Nigeria’s urban population expanding rapidly and housing demand intensifying, targeted youth-focused interventions are critical to bridging the housing deficit. Analysts note that by combining housing delivery with empowerment policies, the government can simultaneously tackle unemployment, improve social stability, and strengthen economic resilience.
If successfully implemented, the Renewed Hope Housing Programme could mark a turning point in Nigeria’s housing policy, positioning young people as central stakeholders in shaping the nation’s real estate future.
