Over ₦70 Billion Mobilized to Boost Urban Housing Development in Nigeria
Over ₦70 billion in private capital has been mobilised under public-private partnership (PPP) arrangements to drive large-scale urban housing development in Nigeria, according to the Minister of Housing and Urban Development, Ahmed Dangiwa.
The minister disclosed this at a real estate forum in Abuja, highlighting the federal government’s ongoing efforts to close Nigeria’s housing deficit through a mix of innovative reforms, targeted housing schemes, and private sector collaboration.
Dangiwa noted that while housing supply has improved across Africa, affordability continues to limit access to homeownership for millions of families.
“Across Africa, millions of families still cannot afford decent homes even when they are available. This administration is not just building houses; we are fixing the structural and macroeconomic foundations that will make housing truly affordable and sustainable for Nigerians today and in the future,” he stated.
Renewed Hope Housing Programme as a Blueprint
The minister outlined the federal government’s three-tier Renewed Hope Housing Programme, which includes:
Renewed Hope Cities – large-scale urban housing projects designed for mixed-income communities.
Renewed Hope Estates – medium-sized housing developments across states.
Renewed Hope Social Housing Estates – targeted at low-income households.
These models, Dangiwa said, provide the framework for delivering affordable homes nationwide while attracting investment into the sector.
Leveraging PPPs and Financial Innovation
To date, the mobilisation of over ₦70 billion in private capital under PPPs represents a significant milestone for the sector. Dangiwa highlighted interventions by the Federal Mortgage Bank of Nigeria (FMBN), including:
The Rent-to-Own Housing Scheme is designed to ease access to ownership for urban workers.
The Rental Assistance Product, which provides support for young families and low- to middle-income earners.
He also pointed to the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF), structured to expand access to long-term mortgage loans at affordable rates and strengthen liquidity in the housing finance market.
Urban Renewal and Inclusive Development
Beyond housing supply, the minister emphasised the government’s commitment to urban renewal and slum upgrades, aligning national policies with global frameworks such as the UN-Habitat Global Action Plan and the Addis Declaration on Inclusive Urban Development.
Dangiwa noted that the objective is to ensure that “no one and no place is left behind,” underscoring the importance of inclusive housing as a driver of economic and social stability.
The minister urged development finance institutions, donor agencies, and private sector actors to convert knowledge-sharing at policy forums into tangible housing delivery.
“The government cannot do it alone. We need strong partnerships that will scale up financing, construction, and innovation in housing delivery to meet the demands of Nigeria’s rapidly growing urban population,” he said.
Conclusion
Nigeria’s housing deficit remains one of the most pressing developmental challenges, but the mobilization of over ₦70 billion in private capital signals growing investor confidence in the sector. If sustained, the Renewed Hope Housing Programme anchored on PPPs, innovative financing, and urban renewal could reshape the affordability and accessibility landscape of housing in Nigeria.
