… HDAN Highlights Milestones, Challenges, and the Road Ahead for Nigeria’s Housing Sector
As President Bola Ahmed Tinubu marks two years in office today, the Housing Development Advocacy Network (HDAN) has published a comprehensive evaluation of the administration’s impact on Nigeria’s housing and urban development landscape highlighting bold reforms, landmark achievements, persistent gaps, and the critical next steps required to truly bridge the country’s widening housing deficit.
When Tinubu assumed office on May 29, 2023, housing advocates and real estate stakeholders hoped for a turnaround in one of the country’s most neglected sectors. Their optimism was rekindled by one of Tinubu’s first structural decisions: the creation of a standalone Ministry of Housing and Urban Development, led by the seasoned architect and former FMBN boss, Arc. Ahmed Musa Dangiwa.
In his address at the inauguration of the National Construction and Housing Blueprint Implementation Committee, President Tinubu underscored the vision of his administration:
“Housing is more than shelter. It is dignity, security, and a pathway to economic prosperity. Our Renewed Hope Agenda aims to ensure every Nigerian, regardless of income, can access decent, affordable housing.”
HDAN’s review highlights numerous initiatives spearheaded by the Ministry and its agencies, many of which signal long-term structural reform.
The Ministry launched the Renewed Hope Cities initiative, beginning with pilot construction in Karsana, Abuja. The goal is to deliver 50,000 housing units across the country, with a focus on affordability and inclusivity for low and middle-income Nigerians.
The Ministry established four dedicated presidential task reforms teams to address core bottlenecks: Housing Institutions Reform Task Team; Multi-Agency Project Delivery Task Team; Land Reforms Task Team and Building Materials Manufacturing Hubs Task Team.
According to Minister Dangiwa, these task teams represent a strategic and coordinated approach to delivering the President’s mandate and the Renewed Hope Agenda.
In a bid to end decades of unverified data and planning blind spots, the Ministry established the National Housing Data Committee, which has advanced its research and preparatory work to set up the first-ever National Housing Data Centre. This centre is envisioned to provide real-time, credible housing statistics, essential for planning, investment, and deficit tracking.
Major Agency-Led Achievements
Federal Mortgage Bank of Nigeria (FMBN)
Under Tinubu, FMBN has disbursed over ₦73 billion in housing finance, supported over 30,000 beneficiaries, and processed over ₦30.7 billion in NHF refunds. The Bank recorded an operational surplus for 2024 and disbursed ₦11.75 billion in NHF mortgage loans to 1,285 beneficiaries.
It introduced a ₦100 billion Bankable Off-taker Guarantee and partnered with the Ministry on the Renewed Hope Housing Programme. The Bank also improved mortgage loan approvals and increased NHF contributions across the federation.
Family Homes Funds Limited (FHFL)
FHFL has delivered over 7,600 homes across 18 states and provided jobs to thousands through construction-focused youth employment initiatives.
Federal Housing Authority (FHA)
FHA has commenced social housing developments targeting teachers, medical personnel, and junior civil servants in locations such as Zuba, Enugu, and Ibadan.
Ministry of Finance Incorporated (MOFI) – MREIF
MOFI’s Real Estate Investment Fund (MREIF) has been a standout achievement raising ₦100 billion in its Series 2 offering, fully subscribed, showing strong investor confidence; achieved a AAA rating from Agusto & Co.; with total funds raised now standing at ₦250 billion (with ₦150 billion from Series 1); offers long-term, low-cost mortgage financing to make homeownership more accessible; aims to mobilize up to ₦1 trillion to close housing supply-demand gaps and strongly aligned with the Renewed Hope Agenda.
Meanwhile, the Ministry has also embarked on a massive land digitization programme through the National Digital Land Information System (NDLIS), in partnership with the World Bank. The initiative aims to document and title all land parcels within five years, formalize land use, a bold move to improve land administration and support formal real estate transactions by improving transparency and registration processes.
HDAN commends the administration for the introduction of the first-ever Nigerian Policy Prioritising Local Content, which promotes the use of indigenous materials and contractors; and the 2024 Tax Reform Act, spearheaded by the Taiwo Oyedele-led committee which includes VAT exemptions on lands, sale of real estate and rent.
HDAN’s report highlights some of the challenges still standing despite the bold strides, they include, land access bottlenecks at the state level; insufficient development finance for private sector projects; low awareness of available mortgage options among the public and outdated legal and policy frameworks slowing reform adoption.
However, HDAN insists that more must be done. critical outdated laws, including the Land Use Act of 1978, need urgent revision. There is also an immediate need to establish a national tenancy framework; strengthen inter-agency coordination and accountability; and intensify stakeholder engagement through structured dialogues and legislative lobbying.
As Nigeria celebrates two years under President Tinubu, the administration has undoubtedly changed the tone and urgency around housing policy. But for the Renewed Hope Agenda to become more than a slogan, continued collaboration, increased private sector participation, and sustained reform momentum are vital.
As HDAN rightly puts it: “Hope is not built in a day. It must be structured, supported, and secured, brick by brick.” It is important to be building more than homes, and focus on building dignity, stability, and the future of Nigeria
