PRESIDENT Bola Tinubu has asserted that intelligence and effective planning with relevant institutions, Nigeria is capable of delivering affordable houses to the low- and medium-income groups.
He reiterated his administration’s resolve to provide decent and affordable housing for the citizens, saying that every Nigerian deserves decent, affordable housing.
Speaking while performing the ground-breaking ceremony for the 3112 housing unit pilot project in Karsana site in Abuja, the President said construction of homes would be the focus of his administration.
Describing the event as historic, he used the opportunity to congratulate the Super Eagles for qualifying for the final at the AFCON tournament in Cote de’Ivoire, urging them not to look back, but rather go out to play and win the cup for Nigeria.
He stated: “We are committed to build a nation where the value of provision of housing is taken seriously, like Renewed Hope City Karsana, turning the country to housing construction sites. We are saying something positive about Nigeria,hopeful to win it.”
The 3,112 housing-unit Renewed Hope City is a part of 20,000 housing units to be delivered in the Federal Capital Territory (FCT) under a Public Private Partnership Arrangement being implemented by the Federal Ministry of Housing and Urban Development and represents the first practical expression of the administration’s desire to implement a New City Development Plan under the Renewed Hope Agenda.
“We are resolved to facing the housing challenge with the clarity of purpose and determination that is required to break all the barriers that stand in our way of success. That is why I took the historic decision of separating the Federal Ministry of Housing and Urban Development from Works, so it can be fully aligned towards tackling the nation’s massive housing problem.
“That is also why I have appointed experienced professionals with proven track records of delivering in the housing sector to lead the Ministry.
“I am happy to hear that the Federal Ministry of Housing and Urban Development has already awarded contracts for the construction of 200 housing units in 12 states (two per geo-political zone) as Renewed Hope Estates.
“In this regard, the minister is to proceed with the groundbreaking ceremonies in the 12 locations and the estates must be completed before the end of 2024.
“I am also delighted to hear that the Renewed Hope Cities are being developed in three locations: Kano 1,500 housing units; Lagos 2,500 housing units and Abuja, 3,112, under a variety of funding arrangements.
“The ministry’s plan to kick-start a National Urban and Slum Upgrading Programme covering 26 sites nationwide is also commendable,” he said.
. The President Tinubu said in the next couple of weeks he will also be performing the groundbreaking of a similar project to deliver 2,500 housing units at the Ibeju–Lekki coastal city, Lagos.
“This project will also provide a practical demonstration of cross-subsidisation where out of the 1,500 housing units to be funded by FMBN, 400 will be sold at concessionary rates to low and medium income Nigerians who are members of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC),” he added.
Earlier, Minister of Housing and Urban Development, Alhaji Ahmed Dangiwa, commended the Presidency and the National Assembly for approving N126.5billion from last year’s supplementary budget and this year’s budget for the projects.
He assured that one, two and three semi-detached bungalows in Karsana Estate would cater for low, medium income earners and address social inequality by providing a range of affordable ownership options, noting: “To enhance affordability and ease of off-take, we used organic designs, where one-bedroom can be expanded into two and three-bedrooms as the income of the beneficiaries increases over time.
Dangiwa explained that single digit and up to 30 year mortgage loans to be provided by Federal Mortgage Bank of Nigeria, Rent-to-Own options, where off-takers can move in and pay monthly, quarterly or annual instalment or outright purchase would be adopted.
