The Minister of Housing and Urban Development, Engineer Muttagha Darma, has inspected over 2,084 housing units as part of ongoing efforts to deliver affordable housing to Nigerians under the Renewed Hope Agenda.
The inspected units form part of more than 15,000 housing units currently under development nationwide and scheduled for commissioning and occupation by October 2026.
According to a statement, the project is among the flagship Renewed Hope City developments being executed through a Public-Private Partnership (PPP) arrangement between the federal government and private sector developers, aimed at accelerating housing delivery across the country.
During an inspection visit to the Renewed Hope City project in Ibeju-Lekki, Lagos State, Darma commended the Federal Mortgage Bank of Nigeria (FMBN) for financing 1,500 housing units within the estate, describing the intervention as a significant contribution to affordable housing delivery.
The minister noted that the FMBN-backed project would provide housing for more than 6,000 Nigerians, reflecting the bank’s commitment to its mandate of expanding access to home ownership.
Expressing satisfaction with the pace of work, Darma said the project had reached an advanced stage of completion and was nearing readiness for occupation.
“I have seen more than 80 per cent completion. In fact, I can say between 85 and 90 per cent because all the houses already have fittings. Some of them are ready for occupation.
“With FMBN financing these 1,500 units, it means they have now housed about 6,000 Nigerians. They are certainly delivering on their mandate,” he said.
The minister added that large-scale housing developments such as the Ibeju-Lekki project contribute significantly to economic growth by creating jobs and stimulating activities across the construction value chain.
Speaking during the inspection, the Managing Director and Chief Executive Officer of FMBN, Shehu Usman Osidi, reaffirmed the bank’s commitment to providing affordable housing solutions for Nigerians.
Osidi urged developers to accelerate project delivery timelines to ensure beneficiaries gain timely access to completed homes. He also advocated a phased completion strategy that would allow finished units to be allocated and occupied without waiting for the entire project to be completed.
The FMBN boss further commended Legrande Properties for maintaining quality standards and ensuring steady progress on the development.
According to him, the housing scheme is being delivered through a cross-subsidy model designed to make home ownership more affordable for low- and middle-income earners.
“The housing units are being delivered through a cross-subsidy model designed to enhance affordability for low- and middle-income Nigerians across the different categories of beneficiaries to access decent housing under the project,” Osidi stated.
Darma had earlier conducted similar inspection visits to Renewed Hope City projects in Karsana, Abuja, and Lambu along Gwarzo Road in Kano State as part of efforts to monitor progress and ensure timely delivery.
Under the Renewed Hope Agenda of President Bola Ahmed Tinubu, the Federal Government plans to establish six Renewed Hope Cities, one in each geopolitical zone, to expand access to affordable housing and reduce Nigeria’s housing deficit.
In addition, the Ministry of Housing and Urban Development is implementing the Renewed Hope Estates Programme, with housing estates currently under construction in 12 locations across the country, covering two states in each geopolitical zone. The minister has already inspected projects in Katsina and Yobe states.
