President Tinubu’s Renewed Hope Agenda for the Housing Sector

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President Tinubu's Renewed Hope Agenda for the Housing Sector

By Taiwo Ajayi

The Nigerian government has unveiled President Bola Tinubu’s visionary plan to establish new cities and provide affordable housing across the country. Minister of Housing, Arc Ahmed Musa Dangiwa, made this announcement during a courtesy of the leadership of the Nigeria Institute of Building (NIOB) to the Hon Minister

Minister Dangiwa emphasized that President Tinubu views construction as a powerful tool for boosting urban development and economic growth. He stated that housing development plays a crucial role in catalyzing economic growth and reducing poverty.

President Tinubu is committed to creating new cities and ensuring the availability of livable houses for Nigerians. To achieve this ambitious plan, the administration seeks collaboration with state governments to acquire land for these new cities.

Dangiwa explained that President Tinubu’s goal is to stimulate economic growth that will uplift approximately 100 million Nigerians out of poverty.

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The most effective way to achieve this goal, according to the President, is by constructing affordable yet high-quality housing for the Nigerian population.

In addition to these plans, the Federal Government (FG) is considering amendments to the National Building Code. The fed Ministry of Housin and urban Development, in collaboration with all professional bodies, aims to identify areas in the code that require adjustment.

This move is in response to various challenges faced by the housing sector, including rapid urbanization, land use reform, housing deficits, and housing quality and standards.

Minister Dangiwa expressed the Ministry’s intention to invite all professional bodies to play a significant role in the housing sector reform committee.

This committee was initiated by President Tinubu to comprehensively reform the housing sector and enhance its effectiveness.

Furthermore, the Federal Mortgage Bank of Nigeria is set to undergo recapitalization to improve its capacity to deliver its mandate effectively to Nigerians. This move is expected to further bolster the nation’s housing and mortgage sector.

President of the Nigerian Institute of Building, Bldr. Alderton Ewa, commended these initiatives, suggesting that they align with President Tinubu’s Renewed Hope Agenda for the housing sector.

Among the recommendations put forth are the release of land for housing development in all states, encouraging Federal Mortgage Bank to provide affordable loans to real estate developers, and fostering collaboration among professional bodies in the built environment to enhance building production in the country.

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