Tinubu enumerates achievements under the Renewed Hope Housing Agenda, targets 100,000 homes
President Bola Ahmed Tinubu gave a detailed progress report under Renewed hope housing program, highlighting ongoing construction and mortgage access reforms across the country.
He said the administration has clearly promised to make decent accommodation affordable to hardworking Nigerians after years of renting.
He added that the Government is now moving from promises to measurable fulfillment.
Large scale housing delivery across Nigeria
According to him, the national housing plan aims for 100,000 homes, with 50,000 planned for the first phase.
This includes cities of 1,000 units in each geopolitical zone and the Federal Capital Territory, along with estates of 500 units in the remaining states.
He disclosed that over 3,000 homes are under construction in Karsana, Abuja. He also noted that the 2,000-unit estate in Ibeju-Lekki, Lagos is now at an advanced stage and sales are already underway.
Across the country, he said, more than 15,000 housing units are currently being built at the same time.
Reforms in land, construction and building systems
The president said that housing delivery goes beyond physical structures, emphasizing reforms in land administration and construction systems.
He explained that efforts are underway to formalize land titles previously dormant as “dead capital”, with support aimed at expanding official land registration across the country.
He also said that reforms in equipment leasing now make it easier for contractors to access machinery with legal and financial support, reducing delays on construction sites.
In addition, he noted that uniform prices for residential units have been introduced to improve transparency, while material hubs are being developed in all six geopolitical zones.
Expanding access to mortgages and housing finance
Tinubu said affordability remains the focal point of the programme, adding that housing must be supported by available funding.
Through MOFI’s real estate investment trust, he said 1,859 families in 25 states had received about £128 billion in mortgage loans with interest at 9.75 percent, repayable over 20 years.
He also highlighted the Family Home Funds initiative, designed to support low-income earners and widows, with a goal of 500,000 homes and an estimated 1.5 million jobs.
A long-term vision of housing and economic growth
He admitted that Nigeria’s housing deficit still runs into the millions and cannot be resolved quickly. However, he said steady progress was being made across the housing value chain.
According to him, land administration, construction, material procurement, access to equipment and mortgage financing are now being integrated into one system.
He added that real estate and construction are increasingly contributing to Nigeria’s economic output, describing each completed home as both a household asset and an engine of national growth.
