President Bola Ahmed Tinubu has said his administration’s housing reforms under the Renewed Hope Agenda are yielding tangible results, with more than 15,000 housing units currently under construction across the country.
In a statement shared on X on Tuesday, the President said the government remains committed to fulfilling its promise of making homeownership more accessible and affordable for Nigerians through large-scale housing projects and sector-wide reforms.
Tinubu recalled that the Renewed Hope Housing Programme was designed to deliver 100,000 housing units nationwide, with an initial phase of 50,000 units spread across the six geopolitical zones and the Federal Capital Territory.
According to him, significant progress has already been recorded, including the development of more than 3,000 housing units in Karsana, Abuja, while the 2,000-unit housing city in Ibeju-Lekki, Lagos State, has reached an advanced stage of completion, with sales already underway.
“What stands today is no longer a drawing. We broke ground on more than 3,000 homes at Karsana in Abuja, the 2,000-unit city at Ibeju-Lekki in Lagos has reached advanced completion with sales already underway, and across the country, more than 15,000 units are rising as I write this,” the President stated.
Beyond housing construction, Tinubu said the administration has introduced reforms aimed at addressing long-standing challenges in land administration, housing finance and construction logistics.
He disclosed that the Federal Government is partnering with the World Bank to expand formal land registration, with the goal of increasing registered land ownership from less than 10 per cent to about 50 per cent nationwide.
The President also highlighted reforms in equipment leasing, which he said would enable contractors to access construction machinery more efficiently and reduce delays in project execution.
According to him, uniform pricing mechanisms have been introduced for government housing projects to improve transparency and eliminate opportunities for corruption in property allocation and sales.
He further revealed that the government is establishing building materials hubs across the six geopolitical zones to reduce construction costs and promote local sourcing of materials.
On housing finance, Tinubu said 1,859 families in 25 states have accessed mortgages worth N128 billion through the MOFI Real Estate Investment Fund, with repayment terms fixed at 9.75 per cent over 20 years.
He added that the Family Homes Funds programme is also supporting low-income earners and vulnerable groups, including widows, under a mandate to deliver 500,000 homes and create about 1.5 million jobs.
Despite the achievements recorded so far, the President acknowledged that Nigeria’s housing deficit remains substantial and would require sustained efforts over several years to address.
“I will not stand before you and declare the work finished, because it is not. The housing deficit this nation carries is counted in the millions, and it will take years of steady labour to close,” he said.
Tinubu argued that for the first time in decades, the entire housing value chain — from land acquisition and title registration to construction, financing and homeownership — is being addressed in a coordinated manner.
He added that housing has evolved from being viewed solely as a social welfare issue to becoming a key driver of economic growth, job creation and national productivity.
According to the President, increased activity in real estate and construction is contributing significantly to Nigeria’s Gross Domestic Product (GDP) while expanding opportunities across multiple sectors of the economy.
He reiterated his administration’s commitment to ensuring that more Nigerians have access to affordable housing, describing homeownership as a fundamental right rather than a privilege.
