The Minister of Housing and Urban Development, Ahmed Dangiwa, has expressed optimism that the development of Nigeria’s housing market can unlock the country’s targeted $1 trillion economy.
Speaking at the groundbreaking ceremony for the 250-housing unit Renewed Hope Estate in Akwa Ibom, Dangiwa emphasized the sector’s potential for growth.
Under the current administration, Nigeria has transformed into a massive construction site, with various projects underway. The Renewed Hope Cities and Estates programme, launched by President Bola Tinubu, aims to provide affordable housing units across the country.
The programme has already seen groundbreaking ceremonies in several states, including Kano, Katsina, Gombe, Yobe, and Sokoto, with a total of 3,112 housing units in the first phase.
According to Dangiwa, “We plan to turn Nigeria into a huge construction site.” The Renewed Hope Estate in Akwa Ibom comprises 50 units of 1-bedroom semi-detached bungalows, 150 units of two-bedroom semi-detached bungalows, and 50 units of three-bedroom semi-detached bungalows.
The housing units have been designed to be affordable and allow for future expansion as beneficiaries’ income increases. “We have designed these housing units in a way that makes them affordable for people to acquire by using organic designs to allow for future expansion as the income of beneficiaries increases,” he explained.