FG Pledges 50,000 Affordable Housing Units for Low-Income Earners

FG Pledges 50,000 Affordable Housing Units for Low-Income Earners

In a significant move to address Nigeria's housing deficit, the Federal Government has reaffirmed its commitment to providing affordable housing for low-income earners. Ahmed Dangiwa, Minister of Housing and Urban Development, announced that the government will build 50,000 housing units in the first phase of the Renewed Hope Cities and Estate programme, with construction already underway across 14 states.

Speaking at the 2024 Urban October and World Habitat Day in Abuja, Dangiwa emphasized the government's focus on policies supporting lower-income individuals. The national social housing fund will assist low-income Nigerians in accessing affordable housing. Additionally, a policy targeting youth involvement in climate resilience and urban development promotes inclusive, resilient, and sustainable cities.

The 50,000 housing units in the first phase will provide relief to many families struggling to find affordable shelter. This initiative is part of President Bola Tinubu's Renewed Hope Agenda, aiming to provide decent and affordable housing for Nigerians.

To achieve this goal, the government has initiated several measures. A workshop on green building, in collaboration with the World Bank, aims to incorporate sustainable climate practices into housing projects. Furthermore, policies supporting urban regeneration, improving housing finance systems, and enhancing the National Urban Governance Framework are being implemented.

The Federal Mortgage Bank of Nigeria (FMBN) will continue to provide affordable housing loans to young Nigerians, supporting institutions and contributing to urban growth. Managing Director Shehu Osidi assured that the bank is committed to making homeownership a reality for low-income earners.

The Family Homes Funds Board, inaugurated in July 2024, also supports this goal, promoting affordable housing for low-income earners. As Nigeria's population grows, the demand for housing increases, making this initiative crucial for addressing the housing deficit.

Dangiwa stressed the importance of addressing urbanization challenges, raising awareness about housing needs, and providing sustainable urban shelter. He noted that sustainable development is a shared responsibility, requiring the incorporation of youth perspectives into urban planning and development.

The 2024 Urban October and World Habitat Day theme, "Engaging Youth to Create a Better Urban Future and Youth Leading Climate and Local Action for Cities," highlights the significance of youth participation in shaping Nigeria's urban future.

As the government works to provide affordable housing, it is essential to ensure that these initiatives are sustainable and inclusive. The collaboration with international organizations like the World Bank demonstrates the government's commitment to best practices in housing development.

Nigeria's housing deficit is estimated to be over 17 million units, with many citizens struggling to access affordable housing. The government's efforts to bridge this gap are crucial for promoting economic growth, social stability, and improved living standards.

The success of this initiative will depend on effective implementation, collaboration with stakeholders, and continued commitment to addressing the housing needs of low-income earners. As Nigeria moves forward, providing affordable housing remains a top priority.