Nigeria launches major housing projects to address national deficit

The Nigerian government is implementing large-scale housing initiatives to address the national housing deficit. At the federal level, the Tinubu administration has commenced construction of over 10,000 housing units across 14 states and the Federal Capital Territory through the Renewed Hope Cities and Estates programme. To support homeownership, the Ministry of Finance’s Incorporated Real Estate Investment Fund has disbursed N140 billion to support 2,018 mortgages across 27 states.

Additionally, the Minister of Housing and Urban Development, Engr. Dr. Muttaqha Rabe Darma, announced a plan to construct 100 housing units in each of Nigeria’s 774 Local Government Areas, totaling 77,400 units nationwide. The government also aims to increase mortgage delivery to 5,000 and proposes raising the maximum mortgage loan from N50 million to N85 million by 2028. The Federal Mortgage Bank of Nigeria has been directed to disburse at least 70 per cent of the previous year’s National Housing Fund contributions through mortgages.

In Sokoto State, Governor Ahmed Aliyu Sokoto has initiated projects for 1,836 housing units. These include 500 units at Wajake, 500 at Sokoto New City, 136 units at Kwannawa, 100 units each for internally displaced persons in Illela and Rabah, and 500 units at Gidan Salanke.