President Bola Tinubu on Thursday, performed the groundbreaking of the 3,112 housing-unit Renewed Hope City in Karsana, Abuja, and reiterated his administration’s resolve to provide decent and affordable housing for Nigerians.

The project is a part of 20,000 housing units to be delivered in the Federal Capital Territory under a Public Private Partnership Arrangement being implemented by the Federal Ministry of Housing and Urban Development and it represents the first practical expression of the administration’s desire to implement a New City Development Plan under the Renewed Hope Agenda.

The President said under this plan, integrated living communities that will redefine the essence of residential living for Nigerians nationwide will be built, emphasizing that his vision is to build dynamic, integrated, and self-sustaining communities, equipped with amenities to enhance the quality of living for residents.

“This includes well-connected access and internal roads, provision of reliable and uninterrupted electricity, healthcare facilities to offer accessible and quality medical services and educational institutions to provide learning environments that nurture knowledge and skills.

“Our goal is to increase the sense of togetherness, improve health and productivity of our citizens and reduce pressure on city centres. On this note, I am today directing the Minister of the Federal Capital Territory and the Minister of Works to provide access roads to all Renewed Hope Cities and Estates Projects to increase accessibility and livability starting with this site in Karsana.

“This is because my administration believes that every Nigerian deserves to have access to shelter that is affordable and adequate,” he said.

Tinubu stated that beyond the moral imperative of providing decent and affordable housing for citizens, his administration also recognizes the immense potential of housing as a catalyst for inclusive economic growth, adding that: “It is with this understanding that we have classified housing as essential social infrastructure and made it a major priority area towards delivering economic growth and Job Creation. At 25 direct and indirect jobs per house, the 20,000 housing units planned for the Federal Capital Territory alone will create 500,000 jobs.”

Speaking on the determination of his administration to ensure that Nigeria’s housing deficit is bridged, the President said he is resolved to facing this challenge with the boldness and urgency that it requires.

“We aim to promote Public Private Partnership (PPP) collaborations that attract domestic, foreign, and diaspora investments. We also aim to design and implement incentive schemes, boost our capital market while enhancing the governance and risk management frameworks to ensure their stability, transparency and integrity.

“We are resolved to facing the housing challenge with the clarity of purpose and determination that is required to break all the barriers that stand in our way of success. That is why I took the historic decision of separating the Federal Ministry of Housing and Urban Development from Works so it can be fully aligned towards tackling the nation’s massive housing problem. That is also why I have appointed experienced professionals with proven track records of delivering in the housing sector to lead the Ministry,” he said.

President Tinubu also said he is committed to providing the Federal Ministry of Housing and Urban Development with the political will that is required to ensure that his administration makes a historic difference in the housing and urban development landscape of the country.

“I am happy to hear that the Federal Ministry of Housing and Urban Development has already awarded contracts for the construction of 200 housing units in twelve (12) states (2 per geo-political zone) as Renewed Hope Estates. In this regard, the Minister is to proceed with the groundbreaking ceremonies in the twelve (12) locations and the estates must be completed before the end of 2024.

“I am also delighted to hear that the Renewed Hope Cities are being developed in three locations: Kano 1,500 housing units; Lagos 2,500 housing units and Abuja 3,112 under a variety of funding arrangements. The Ministry’s plan to kickstart a National Urban and Slum Upgrading Programme covering 26 sites nationwide is also commendable,” he said.
.
President Tinubu said in the next couple of weeks he will also be performing the groundbreaking of a similar project to deliver 2,500 housing units at the Ibeju–Lekki coastal city, Lagos.

“This project will also provide a practical demonstration of cross-subsidization where out of the 1,500 housing units to be funded by FMBN, 400 will be sold at concessionary rates to low and medium income Nigerians who are members of the Nigeria Labour Congress and the Trade Union Congress,” he added.