Tinubu recounts achievements under Renewed Hope Housing Agenda, targets 100,000 homes

President Bola Ahmed Tinubu has given a detailed account of progress under the Renewed Hope housing agenda, highlighting ongoing construction and mortgage access reforms across the country.

He said the administration made a clear promise to make decent housing affordable for hardworking Nigerians after years of renting.

He added that the government is now moving from promises to measurable delivery.

Large-scale housing delivery across Nigeria

According to him, the national housing plan targets 100,000 homes, with 50,000 planned for the first phase.

These include 1,000-unit cities in each geopolitical zone and the Federal Capital Territory, alongside 500-unit estates in the remaining states.

He disclosed that over 3,000 homes are under construction at Karsana in Abuja. He also noted that the 2,000-unit estate in Ibeju-Lekki, Lagos, is now at an advanced stage, with sales already ongoing.

Across the country, he said more than 15,000 housing units are currently being developed simultaneously.

Reforms in land, construction and building systems

The President said housing delivery goes beyond physical structures, stressing reforms in land administration and building systems.

He explained that efforts are ongoing to formalise land titles that were previously inactive as “dead capital”, with support aimed at expanding formal land registration nationwide.

He also said reforms in equipment leasing now make it easier for contractors to access machinery with legal and financial backing, reducing delays on construction sites.

In addition, he noted that uniform pricing for housing units has been introduced to improve transparency, while materials hubs are being developed across all six geopolitical zones.

Expanding access to mortgages and housing finance

Tinubu said affordability remains central to the programme, adding that housing must be supported by accessible finance.

Through the MOFI Real Estate Investment Fund, he said 1,859 families across 25 states have accessed about ₦128 billion in mortgages at 9.75 per cent interest, repayable over 20 years.

He also highlighted the Family Homes Funds initiative, designed to support low-income earners and widows, with a target of 500,000 homes and an estimated 1.5 million jobs.

Long-term vision for housing and economic growth

He acknowledged that Nigeria’s housing deficit remains in the millions and cannot be resolved quickly. However, he said steady progress is being made across the entire housing value chain.

According to him, land administration, construction, materials supply, equipment access and mortgage financing are now being integrated into one system.

He added that real estate and construction are increasingly contributing to Nigeria’s economic output, describing each completed home as both a household asset and a driver of national growth.