President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to expanding access to affordable housing, saying significant progress is being made under the Renewed Hope Agenda.
In a statement outlining achievements in the housing sector, Tinubu recalled that his administration pledged to deliver 100,000 housing units nationwide, with 50,000 earmarked for the first phase through large-scale housing developments across the six geopolitical zones and the Federal Capital Territory.
The President said implementation of the programme is ongoing, with more than 3,000 housing units already flagged off at Karsana in Abuja and the 2,000-unit Renewed Hope City in Ibeju-Lekki, Lagos State, nearing completion with sales already underway.
According to him, over 15,000 housing units are currently under construction across various parts of the country.
Tinubu stated that beyond physical construction, the government is addressing key structural challenges affecting housing delivery, including land titling, access to finance, equipment leasing and pricing transparency.
He explained that efforts are underway to formalise land ownership, improve access to construction equipment and establish transparent pricing mechanisms to reduce corruption and inefficiencies in the housing sector.
On housing finance, the President disclosed that the MOFI Real Estate Investment Fund has enabled 1,859 families across 25 states to access mortgages worth N128 billion at an interest rate of 9.75 per cent over a 20-year repayment period.
He also highlighted the role of the Family Homes Fund programme, which targets low-income households and vulnerable groups, with a mandate to deliver 500,000 homes and create about 1.5 million jobs nationwide.
While acknowledging the country’s housing deficit, Tinubu said closing the gap would require sustained efforts and long-term commitment.
He noted that the administration’s strategy focuses on integrating the entire housing value chain, from land administration and construction to financing and home ownership.
According to the President, housing is now being treated as a critical driver of economic growth rather than merely a social welfare programme.
“Housing has moved from a welfare conversation to a national growth strategy,” he stated.
Tinubu added that increased investment in housing is generating jobs, stimulating economic activities and contributing to national output, while expanding opportunities for more Nigerians to own homes.
He reiterated that the Renewed Hope Agenda is designed to make home ownership more accessible and affordable, describing decent housing as a right that every Nigerian should have the opportunity to attain.
