Through the Ministry of Housing and Urban Development, the Federal Government announced plans to commence a nationwide groundbreaking for phase 1 of Renewed Hope Cities and Estates, beginning with 1,250 housing units in four northern Nigerian states.
The historic occasion is slated to take place in Katsina State on May 22 and end in Gombe State on May 25.
In a statement released on Sunday, Ahmed Dangiwa, the Minister of Housing and Urban Development, stated that this major development has officially begun with the conclusion of the contractual procedure and the mobilisation of reliable developers.
This exercise comes after the program’s formal introduction in February 2024 with a 3,112-housing unit project in Karsana, Abuja, by His Excellency, President Bola Ahmed Tinubu, GCFR.
According to a statement signed by the Minister’s Special Assistant on Media, Mark Chieshe, the current administration is committed to turning the country into a giant construction site and unlocking housing’s potential to create jobs, stimulate economic growth, and contribute to the country’s economy.
The statement read in part, “The minister will officially flag off construction activities at the project sites as follows: 250 housing units at Renewed Hope Estate in Katsina on Wednesday, May 22, 2024, 500 housing units at Renewed Hope City in Kano on Thursday, May 23, 2024, 250 housing units at Renewed Hope Estate in Yobe on Friday, May 24, 2024, 250 housing units at Renewed Hope Estate in Gombe on Saturday, May 25, 2024
“We are committed to our promise to His Excellency, President Bola Ahmed Tinubu, GCFR, to turn the country into a huge construction site and unlock the potential of the housing sector to create jobs, catalyse economic growth, and contribute to the $1 trillion economy while boosting national development. The 1,250 units that we are breaking ground for in Katsina, Kano, Yobe, and Gombe are only a start. After this, we shall be proceeding to other parts of the country.,” Arc. Dangiwa stated.
Dangiwa further stated that the ministry had awarded contracts for 3,500 housing units in 13 states since December 2023 under the supplementary budget.
The minister noted that under the 2023 supplementary budget, the ministry awarded contracts for 3,500 housing units in 13 states since December 2023.
This includes 500 housing units in Kano, and 250 housing units in 12 other states including Katsina, Sokoto, Yobe, Gombe, Nasarawa, Benue, Osun, Oyo, Abia, Ebonyi, Delta and Akwa Ibom.
“The Renewed Hope City in Kano comprises 100 units of 1-bedroom (semi-detached bungalows), 300 units of 2-bedrooms (semi-detached bungalows), 100 units of 3-bedrooms (semi-detached bungalows)
“The Renewed Hope Estates in Katsina, Yobe, and Gombe each comprises 50 units of 1-bedroom (semi-detached bungalows), 100 units of 2-bedrooms (semi-detached bungalows), 50 units of 3-bedrooms (semi-detached bungalows).
“To enhance affordability and ease of offtake, we used organic designs where one bedroom can be expanded to two bedrooms and three bedrooms as the income of beneficiaries increases over time,” Dangiwa added.
“At an average of 25 direct and indirect jobs per housing unit, the 1,250 housing units are estimated to create 31,250 skilled and unskilled jobs in these states. Construction work at the sites will also stimulate local economic activity, benefiting the communities and the broader economy.’’
In addition to addressing disparities in society, the housing projects aim to offer a wide variety of reasonably priced ownership possibilities.
The Federal Mortgage Bank of Nigeria will offer single-digit and 30-year mortgage loans, as well as rent-to-own alternatives that allow recipients to move in and make monthly, quarterly, or annual payments towards homeownership and outright purchases for high-earners.
The Federal Ministry of Housing and Urban Development’s N50 billion 2023 Supplementary Budget is providing funding for the 1,250 housing units.
State governments that are not covered by the 2023 Supplementary Budget will be covered by the 2024 Budget, the minister promised them, adding that the Renewed Hope Housing Programme is intended to serve all states in the nation.
