President Bola Ahmed Tinubu says his administration is advancing efforts to deliver affordable housing under the Renewed Hope Agenda. He highlighted ongoing construction and new financing initiatives across multiple states.
President Bola Ahmed Tinubu stated that his government has begun implementing plans to build 100,000 homes nationwide. This includes 50,000 units in the first phase, with 1,000-unit cities in each geopolitical zone and the Federal Capital Territory, plus estates of up to 500 units in the remaining 30 states. Over 3,000 units have been flagged off at Karsana in Abuja, while the 2,000-unit Renewed Hope City in Ibeju-Lekki, Lagos State, is at an advanced stage with sales underway. More than 15,000 housing units are currently under construction across the country, he said. Tinubu noted that the MOFI Real Estate Investment Fund has provided ₦128 billion in mortgages to 1,859 families in 25 states at 9.75 per cent interest over 20 years. The Family Homes Fund scheme aims to deliver 500,000 homes and create 1.5 million jobs for low-income households. He described housing as a national growth strategy that drives jobs and investment, adding that the Renewed Hope Agenda treats home ownership as a right.
