The Federal Government of Nigeria has raised over N70 billion to fund large-scale housing developments across urban centres in the country, using Public-Private Partnerships (PPPs) as a major source of financing.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, made this known on Monday, July 29, during the opening ceremony of the 19th Africa International Housing Show (AIHS) in Abuja.
According to the minister, the mobilisation of N70 billion signals the government’s strong commitment to closing Nigeria’s housing gap. He said the money would be used to fund ongoing and new urban housing initiatives that align with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“The federal government is committed to addressing the housing gap at scale and sustainably. This N70 billion mobilisation under PPPs is a clear demonstration of that resolve,” Dangiwa said at the conference, which brings together stakeholders across Africa’s housing sector.
He explained that the ministry was working closely with private developers, state governments, and development agencies to implement practical reforms that will make housing affordable and accessible to more Nigerians.
The minister highlighted the work being done through the Federal Mortgage Bank of Nigeria (FMBN), including the Rent-to-Own Scheme and the Rental Assistance Product, which are targeted at easing the housing burden for workers and young families in cities.
In addition, Dangiwa announced the soon-to-be-launched Ministry of Finance Real Estate Investment Fund (MREIF), which will offer long-term, low-interest mortgage financing to eligible Nigerians. This fund is expected to deepen housing finance access and provide stability for aspiring homeowners.
“We are not just interested in building houses but ensuring the structural and financial systems around housing are functional and efficient,” he said.
Another key part of the government’s plan is the State-by-State Homeownership and Housing Development Campaign, which will see the ministry partner with state governments to identify and implement viable housing projects. Dangiwa said the campaign will also involve deploying Housing Reform Champions to help state governments coordinate policy and funding.
“We will convene state housing roundtables, provide hands-on support to structure viable housing projects, and unlock financing opportunities across the federation,” he said.
The minister added that efforts are ongoing to ensure urban renewal and the upgrading of slums in line with international standards, including the UN-Habitat Global Action Plan and the Addis Ababa Declaration on Inclusive Urban Development in Africa.
He further emphasized that the Federal Government’s Renewed Hope Housing Programme has three main parts—Renewed Hope Cities, Renewed Hope Estates, and Renewed Hope Social Housing Estates—all focused on delivering affordable housing to Nigerians across different income levels.
Dangiwa maintained that housing must be treated as a human right, not a luxury.
“Housing is not a privilege. It is a right. When we invest in housing, we invest in people, jobs, cities, and our collective future,” he said.
The minister, however, acknowledged that affordability remains the biggest challenge across the continent. He noted that despite the availability of some houses, many families still cannot afford to own decent homes due to high costs and lack of long-term financing.
“Across Africa, millions of families still cannot afford decent homes even when they are available. This administration is not just building houses; we are fixing the structural and macroeconomic foundations that will make housing truly affordable and sustainable,” Dangiwa said.
The 19th Africa International Housing Show is expected to attract over 15,000 participants and exhibitors from Nigeria, other African countries, and around the world. It serves as a strategic platform to discuss Africa’s housing challenges and to showcase innovations that can transform housing delivery.
Dangiwa called on development finance institutions, donor agencies, and the private sector to turn conversations at the AIHS into real projects that can benefit ordinary Nigerians.
