FG says many Nigerians will become landlords under Renewed Hope City, Estate Scheme

The federal government has said that many Nigerians will become homeowners through the ‘Renewed Hope City and Estate Programme,’ an initiative under the Federal Ministry of Housing and Urban Development.

This initiative promises to provide easy access to secure, decent homes for Nigerians nationwide.

Speaking in Ibadan at this year’s South-West Housing Exhibition, the Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, said that the new scheme has simplified the process of securing a home through a centralized online platform, which is both innovative and effective for housing delivery.

The Minister, represented by the Federal Controller of the Federal Ministry of Housing and Urban Development, Oyo State Office, Aigbokhai Elizabeth, explained that the current achievements in the housing sector are the result of creative and diversified funding strategies implemented under President Bola Tinubu’s Renewed Hope agenda.

The minister said: “We have found a way to be innovative and to address the supply of affordable housing through a means of approaches, including budgetary provisions, public/private partnership, international collaborations, and funding through agencies under the ministry.

According to him, most of the houses in the scheme that are under construction are currently at the roofing stage, adding that the houses, when completed, can be assessed through the innovative web portal www.renewedhopehomes.fmhud.gov.ng by Nigerians within and outside the country.

He assures that with the website, all Nigerians can assess all the houses, choose the one they want to pay through any of the payment options, and get their awards.

He stated further that the housing sector’s potential as a driver of economic growth is evident in the job opportunities that the renewed hope cities and estate programs have created at an average of 25 jobs per house.

He revealed that over 252,800 jobs including skilled and unskilled workers have been directly and indirectly generated by the various ongoing housing projects embarked on by the President Bola Tinubu-led administration.

Earlier in his remarks, the Convener and Managing Director, South West Exhibition, Dr. Olayomi Shodimu said the exhibition was an annual convergence where stakeholders in the industry gather to discuss challenges in the industry and proffer solutions to them.

Shodimu said the event would provide an opportunity to expose the Real Estate brand in the region and what various state governments and stakeholders should do to champion a cause for the development of housing in the region.

“We want to use this platform to create the next category of homeowners, making it very flexible for them with a very small amount of money. This region needed a new approach to affordable and sustainable housing,” Shodimu said.

Meanwhile, the Oyo state Commissioner for Lands and Urban Development, Akinfunmilayo Williams commended the initiative of bringing together critical stakeholders in housing provision and development towards solving the housing deficit in South West.

Williams said the synergy would be of greater benefit to South West, adding that land opportunities in all the six states of the zone would be made available to real estate developers.

The commissioner gave assurance that the state government would collaborate and support, saying the government would come up with policies that would ensure that the basic objective of provision of housing and decreasing the housing deficit in the States is achieved.

The highlight of the 2024 South West Housing exhibition was a raffle draw which gave opportunity to participants to win a house of their own.