In a major push to improve the welfare of healthcare workers and address the nation’s housing deficit, the Federal Government of Nigeria, through the Federal Ministry of Housing and Urban Development and the Federal Ministry of Health, has partnered with the Real Estate Developers Association of Nigeria (REDAN) to deliver 10,000 housing units under the Renewed Hope Medic Cities Initiative.
At a high-level stakeholders’ engagement, representatives of government ministries, REDAN, and professional unions in the healthcare sector discussed the implementation framework for this Public-Private Partnership (PPP) initiative, which aims to roll out the housing units within 24 months. The plan includes 1,000 units in the Federal Capital Territory (FCT) and 250 units in each state capital.
President of REDAN, Prince Akintoye Adeoye, highlighted the importance of the initiative, stating, “Shelter ranks just after food in the hierarchy of human needs. This initiative is not just about housing, it is a strategic intervention to retain talent in the health sector by giving our medical professionals access to safe, decent, and affordable homes.”
He reaffirmed REDAN’s commitment to supporting the government in delivering on this national priority.
National Coordinator of the programme, Dr. Abubakar Sadiq, revealed that the planned housing units will range from one-bedroom and two-bedroom apartments to three-bedroom flats and semi-detached duplexes, with initial rollouts in Abuja, Lagos, and Port Harcourt.
To ensure affordability, the Federal Mortgage Bank of Nigeria (FMBN) will provide a subsidized mortgage scheme at 6% per annum, alongside a rent-to-own option, both with repayment periods of up to 30 years, a significant improvement over the higher interest rates offered by commercial lenders.
Dr. Sadiq added that further stakeholder engagements will take place at hospital and institutional levels across the country. He stated that union leaders and healthcare professionals will soon begin the collation the necessary documentation to ensure early access and smooth participation in the scheme.
The Renewed Hope Medic Cities Initiative is part of the broader Renewed Hope Housing Programme championed by the Tinubu administration, aimed at providing inclusive, affordable, and sustainable housing for all sectors of society starting with those at the frontline of national service.
Ubong Usoro
