Federal Govt Begins Work On 2,000 Housing Units In Lagos

No Result View All Result Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us Hausa Edition Home News Politics Business Sport Football Health Entertainment Education Opinion Editorial Columns Others LeVogue Magazine Conferences National Economy Contact Us No Result View All Result No Result View All Result Federal Govt Begins Work On 2,000 Housing Units In Lagos by Bidon Mibzar 33 minutes ago in News Share on WhatsAppShare on FacebookShare on XTelegram The federal government has commenced the construction of 2,000 housing units in Lagos State under its Renewed Hope Housing Programme, while unveiling plans to reform the mortgage financing system to make homeownership more accessible to Nigerians.

The Minister of Housing and Urban Development, Muttaqha Rabe Darma, disclosed this on Friday during the groundbreaking ceremony of the 2,000-unit Renewed Hope Housing Development at Lekki Aviation Town, Ibeju-Lekki, Lagos.

Darma said the project, being executed through a public-private partnership involving Harmony Gardens and Estate Development Limited and Metroscape Development Company Limited, was designed to expand housing supply, create employment opportunities and promote sustainable urban development.

He explained that the development would comprise two- and three-bedroom housing units, strategically located within the rapidly expanding Ibeju-Lekki economic corridor, which hosts major investments, including the Dangote Refinery, Lekki Deep Sea Port and the Free Trade Zone.

The minister said the federal government’s housing strategy was anchored on four major pillars: increasing housing supply, improving access to mortgage finance, strengthening private-sector participation and adopting evidence-based policies to address the country’s housing challenges.

He stressed that the government’s objective was to move housing delivery beyond policy pronouncements to actual projects and completed homes capable of improving the living conditions of Nigerians.

Darma, however, maintained that increasing housing supply alone would not resolve the country’s housing crisis without an effective mortgage financing system that allows ordinary Nigerians to purchase homes based on their income levels.

“A house is only truly accessible when a Nigerian can obtain financing on terms consistent with his income,” he said.

He disclosed that the ministry was working towards harmonising the operations of relevant housing agencies to establish a more coordinated institutional framework that would improve access to mortgage facilities.

The minister also called for comprehensive regulation of the built environment, warning that stronger regulatory mechanisms were necessary to prevent building collapses and other professional misconduct in the construction industry.

He charged the developers handling the 2,000 housing units to maintain high construction and environmental standards, insisting that the success of the project would be determined by the quality and affordability of the completed houses rather than the groundbreaking ceremony.

“The success will be measured not by today’s ceremony, but by timely delivery of quality, affordable homes,” he said.

Earlier, the representative of the Lagos State Government, Prince Bayo Balogun, commended Harmony Gardens for its contributions to the development of Lagos, particularly Ibeju-Lekki, describing the company as an investor with a strong record of philanthropic activities.

Balogun called on more private investors to partner with the state government to address the growing housing deficit arising from the state’s expanding population.

Also speaking, Chairman of the House of Representatives Committee on Urban Development and Regional Planning, Awaji Inombek Abiante, urged the ministry and its development partners to incorporate comprehensive urban planning into the project.

He warned that housing developments must be supported by adequate transportation networks, markets and essential infrastructure to prevent the creation of new urban challenges.

In his remarks, the Permanent Secretary of the ministry, Shuaib Belgore, described the project as a significant milestone in the Federal Government’s efforts to provide decent, safe and affordable housing for Nigerians.

Belgore said the ministry would provide institutional oversight and quality assurance to ensure that the development met the required standards and served as a model for large-scale housing delivery across the country.

The Chief Executive Officer of Harmony Gardens and Estate Development Limited, Abdullahi Saheed Mosadoluwa, commended President Bola Tinubu for creating opportunities for Nigerians to own homes through the Renewed Hope Housing Programme.

He said prospective homeowners could access the housing scheme with an initial deposit of N100,000, with the balance spread over 25 years through the Federal Mortgage Bank of Nigeria.

Mosadoluwa said the arrangement was expected to benefit teachers, police officers, nurses, civil servants, young entrepreneurs and Nigerians in the diaspora by reducing the financial barriers to homeownership.

In a vote of thanks, the Director of Public Building, Samuel Pemi Temitope, commended the private-sector partners for supporting the Federal Government’s efforts to address the housing deficit, expressing optimism that the project would progress from groundbreaking to timely completion.

We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →