FG Begins Nationwide Groundbreaking For ‘Renewed Hope’ Cities, Estates

FG has begun nationwide groundbreaking for ‘Renewed Hope’ cities and estates.

 

NewsOnline Nigeria reports that President Bola Tinubu’s federal government is set to commence the nationwide official groundbreaking for phase 1 of the Renewed Hope Cities and Estates project, beginning with 1,250 housing units in four states in Northern Nigeria.

This Nigeria news platform understands that the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, who made this known said this exercise follows the programme’s official launch by President Bola Ahmed Tinubu, with a 3,112-housing unit project in Karsana,  Abuja, in February 2024.

 

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He said the successful completion of the contracting process and the mobilisation of reputable developers to start work has set the stage for this development.

 

The minister is expected to officially flag off the construction of 250 housing units each in Katsina,  Kano, Yobe and Gombe between May 23 and 25, 2024.

 

“We are committed to our promise to President Bola Ahmed Tinubu, to turn the country into a huge construction site and unlock the potential of the housing sector to create jobs, catalyse economic growth, and contribute to the $1 trillion economy while boosting national development. The 1,250 units that we are breaking ground for in Katsina, Kano, Yobe, and Gombe is only a start. After this, we shall be proceeding to other parts of the country.,” Arc. Dangiwa said.

 

The minister noted that under the 2023 Supplementary budget, the Ministry has awarded contracts for 3,500 housing units in 13 states since December 2023. This includes 500 housing units in Kano, 250 housing units in twelve other states including Katsina, Sokoto, Yobe, Gombe, Nasarawa, Benue, Osun, Oyo, Abia, Ebonyi, Delta and Akwa Ibom.

According to him, the Renewed Hope City in Kano comprises: 100 units of 1-bedroom (semi-detached bungalows); 300 units of 2-bedrooms (semi-detached bungalows); 100 units of 3-bedrooms (semi-detached bungalows) while estates in Katsina, Yobe, and Gombe each comprise: 50 units of 1-bedroom (semi-detached bungalows); 100 units of 2-bedrooms (semi-detached bungalows); 50 units of 3-bedrooms (semi-detached bungalows).

 

“To enhance affordability and ease of offtake, we used organic designs where one bedroom can be expanded to two-bedrooms and three-bedrooms as the income of beneficiaries increase over time,” Arc. Dangiwa said.

 

At an average of 25 direct and indirect jobs per housing unit, the 1,250 housing units are estimated to create 31,250 skilled and unskilled jobs in these states. Construction work at the sites will also stimulate local economic activity, benefiting the communities and the broader economy.

 

The housing projects also seek to address social inequality by providing a broad range of affordable ownership options. This includes single-digit and up to 30-year mortgage loans to be provided by the Federal Mortgage Bank of Nigeria, Rent-to-Own options where beneficiaries can move in and pay towards homeownership in monthly, quarterly, or annual instalments and Outright Purchase for high-income earners.

 

The 1,250 housing units are being funded under the N50 billion 2023 Supplementary Budget of the Federal Ministry of Housing and Urban Development.

 

The minister has assured all state governments that the Renewed Hope Housing Programme is designed to cover all the states in the country saying that States that are not covered under the 2023 Supplementary Budget will be covered under the 2024 Budget. He therefore called on all state governments who are yet to provide land for citing the projects to do so to enable the Ministry to finalise project plans.