To address the severe housing crisis in Nigeria and inadequacy of budgetary allocations, the Federal Government has entered into partnership with a consortium of private developers for the delivery of 100,000 housing units in 36 states and Federal Capital Territory.
The agreement between the Federal Ministry of Housing and Urban Development and Continental Civil Construction and Ceezali Limited will be delivered under a strategic Public Private Partnership (PPP) as part of the Renewed Hope Cities and Estates programme.
Under the terms of partnership, the consortium will provide construction finance and build the houses to completion based on agreed housing designs and prices, while the ministry will facilitate provision of affordable mortgage loans to off-takers through the Federal Mortgage Bank of Nigeria (FMBN).
The ministry will also facilitate the approval and grant of legal titles of selected lands for the projects across the country as part of its efforts to create an enabling environment to massively upscale private sector investment in the housing sector.
The Minister of Housing and Urban Development, Ahmed Dangiwa, who revealed this at the signing of Memorandum of Understanding (MOU) in Abuja, acknowledged the severe housing crisis in Nigeria and inadequacy of budgetary allocations to address the deficit.
Dangiwa emphasised the need to increase access to decent and affordable housing as a collective endeavour, requiring the active participation of all stakeholders across the entire housing value chain. “These partnerships enable leveraging the strengths of the public and private sectors, fostering innovation, efficiency, and increased access to funding.
“By combining the resources, expertise, and creativity of both sectors, we plan to facilitate the development of affordable housing, infrastructure, and sustainable communities that align with the diverse needs of our populace. Our long-term goal is to address the housing shortage and enhance the quality of life of our citizens.
“We aim to do it right. That is why we have developed a robust framework to ensure that any project we as a ministry enter into is structured to succeed. Our PPP model involves transparent agreements, clear roles and responsibilities, and risk-sharing mechanisms to ensure accountability, fairness, and long-term sustainability,” he said.
The minister hinted, the target beneficiaries are both public and private sectors, adding that the project will be implemented in phases. Phase one will consist of 20,000 units in the Federal Capital Territory, while the second phase will be 80,000 houses in select locations in the six geopolitical zones. “The PPP arrangement will create 2.5 million direct and indirect jobs, as well as helping to achieve President Bola Ahmed Tinubu’s target to lift 100 million Nigerians out of poverty,” he said.
Dangiwa urged the consortium to continuously engage the technical staff of the ministry in the siting, design, monitoring, and cost evaluation of the project, while urging them to ensure the delivery of the project within agreed timelines.
The consultant to the consortium and Principal Partner, C23 Consultants Limited, Damola Akindolire, said the MOU speaks to the focus and seriousness of the leadership of the ministry to address the challenge of housing deficit in the country.
On their part, Executive Director, Continental Civil and General Construction Company Limited, Alamu Adegbenga and Contract Manager, Ceezali Limited, Sule Wada, assured the minister of their technical and financial capacities to deliver on the project. They also promised to abide by the terms of agreement and models for the scheme.
Source: The Guardian
