The Minister of Housing and Urban Development, Mr Ahmed Dangiwa, yesterday signed a Memorandum of Understanding (MoU) with a consortium to deliver 100,000 affordable housing units across the nation.
Dangiwa stated that the MoU signed at the ministry’s headquarters in Abuja, marked a milestone for the ministry’s housing action plan and continued effort to leverage private sector collaboration towards bridging the housing deficit in Nigeria.
The agreement with the consortium of private sector-led companies, headed by Continental Civil and General Construction Company Limited and Ceezali Limited, the government said, will be delivered in two phases, starting with 20,000 units in the Federal Capital Territory (FCT), followed by 80,000 units across the six geopolitical zones.
Dangiwa described the deal as the result of months of hard work and strategic planning, resulting in a robust framework to ensure the arrangement was structured to succeed.
“The federal ministry of housing and urban development will facilitate provision of affordable mortgage loans to off-takers through the Federal Mortgage Bank of Nigeria (FMBN).”
“It will also facilitate the approval and the grant of legal titles of select lands for the projects across the country as part of its efforts to create an enabling environment in order to massively upscale private sector investment in the housing sector.”
Target beneficiaries are Nigerians in both the public and private sectors of the economy. The 100,000 Renewed Hope Housing Project is to be implemented in two phases.