President Bola Ahmed Tinubu on Thursday, February 8, 2024, performed the groundbreaking of the 3,112 housing-unit Renewed Hope City in Karsana, Abuja.
At the event, Tinubu reiterated his administration’s resolve to provide decent and affordable housing for Nigerians.
He said that the project was part of a 20,000-housing units to be delivered in the Federal Capital Territory under Public Private Partnership (PPP)
arrangement being implemented by the Federal Ministry of Housing and Urban Development.
The President said that the project represented the first practical expression of the administration’s desire to implement a New City Development Plan under the Renewed Hope Agenda.
He added that integrated living communities to redefine the essence of residential living for Nigerians nationwide would be built under this plan.
He emphasised that his vision was to build dynamic, integrated and self-sustaining communities, equipped with amenities to enhance the quality of living for residents.
“This includes well-connected access and internal roads, provision of reliable and uninterrupted electricity, healthcare facilities to offer accessible and quality medical services and educational institutions to provide learning environments that nurture knowledge and skills.
“Our goal is to increase the sense of togetherness, improve health and productivity of our citizens and reduce pressure on city centres.
“On this note, I am today directing the Minister of Federal Capital Territory and the Minister of Works to provide access roads to all Renewed Hope Cities and Estate Projects to increase accessibility and livability starting with this site in Karsana.
“This is because my administration believes that every Nigerian deserves to have access to shelter that is affordable and adequate.”
Tinubu stated that beyond the moral imperative of providing decent and affordable housing for citizens, his administration also recognised the immense potential of housing as catalyst for inclusive economic growth.
He added that “it is with this understanding that we have classified housing as essential social infrastructure and made it a major priority area toward delivering economic growth and job creation.
“At 25 direct and indirect jobs per house, the 20,000 housing units planned for the Federal Capital Territory alone will create 500,000 jobs.”
On the determination of his administration to ensure that Nigeria’s housing deficit is bridged, the president said he resolved to face the challenge with
boldness and urgency.
“We aim to promote Public Private Partnership collaborations that attract domestic, foreign and diaspora investments.
“We also aim to design and implement incentive schemes, boost our capital market while enhancing the governance and risk management
frameworks to ensure their stability, transparency and integrity.
“We have resolved to face the housing challenge with clarity of purpose and determination, required to break the barriers that stand in our way of success.
“That is why I took the historic decision of separating the Federal Ministry of Housing and Urban Development from Works, so it can be fully aligned toward tackling the nation’s massive housing problem.”
The president, therefore, reiterated his commitment to providing the Federal Ministry of Housing and Urban Development the political
will to make a difference in the housing and urban development landscape of the country.
He said “I am happy to hear that the Federal Ministry of Housing and Urban Development has already awarded contracts for the construction of
200 housing units in 12 states, with two in each geo-political zone, as Renewed Hope Estates.
“In this regard, the minister is to proceed with the groundbreaking ceremonies in the 12 locations and the estates must be completed before the end of 2024.
“I am also delighted to hear that the Renewed Hope Cities are being developed in three locations: Kano 1,500 housing units; Lagos 2,500 housing units and Abuja 3,112 units,
under a variety of funding arrangements.
“The ministry’s plan to kickstart a National Urban and Slum Upgrading Programme covering 26 sites nationwide is also commendable,” he said.
He said that in the next couple of weeks, he would also be performing the groundbreaking of a similar project to deliver 2,500 housing units at the Ibeju–Lekki coastal city in Lagos.
“This project will also provide a practical demonstration of cross-subsidisation where out of the 1,500 housing units to be funded by FMBN,
400 will be sold at concessionary rates to low and medium income Nigerians who are members of the Nigeria Labour Congress and the Trade Union Congress,” he said.