In a bold steps to make decent housing a reality for Nigerians, the Federal Government has announced plans to unlock over N300 billion in debt capital and also increase land urbanization by 50 percent by 2030.

The Minister of Housing and Urban Development, Arch. Ahmed Musa Dangiwa, speaking at the opening of the ongoing 19th Africa International Housing Show (AIHS) in Abuja, disclosed that the Ministry has already championed the establishment of building materials for potential homes and has also secured investors who are willing to invest in the construction of these building materials.

“We intend to unlock over N300 billion in debt capital. We want to increase land urbanization by 50% in the next five years. Mr. Tayo, the Chairman of the Coordination Committee on Tax Reform, is a good partner to help analyze this issue.

“Also, the issue of the cost of building materials. The Ministry has already championed the establishment of building materials for the potential homes. At the moment, currently, when we go to land, one is down south, one is down north, and one is at the center. And this land has been acquired.

“The project is about to takeoff because the land has been acquired, the designs have already been done, and we have also secured some investors who are willing to come and invest in the
construction of the building materials for potential homes. We are already discussing with the ICRC who are the inventors of the PPP projects. We have already secured the online business
case, which is the OBC, for the take-up of the project soon,” he said.

The Minister also unveiled a transformative state-by-state housing campaign under the Renewed Hope Agenda of President Bola Tinubu in collaboration with the state government, private sector and development partners. The initiatives are across three tiers:

Renewed Hope Cities, large-scale urban developments with integrated infrastructure in cities like Abuja, Lagos, and Kano; Renewed Hope Estates, medium-density clusters delivering 500 units per site in 30 states; and Renewed Hope Social Housing Estates, deeply affordable homes targeting low-income
Nigerians, with at least one estate per Local Government Area.

The goal, he said is to bridge the gap between national housing policy and state-level execution, while empowering citizens with the knowledge and tools to access affordable housing opportunities.

He explained that a N100 billion Bankable Off-taker Guarantee from the Federal Mortgage Bank of Nigeria (FMBN) supports 3,112 units in Karsana, Abuja, while a N50 billion 2023 Supplementary Budget and N27.2 billion 2024 allocation fund 12 estates nationwide.

Addressing the campaign which targets affordability, accessibility, and sustainability, the Minister said, “The government is taking all steps to supply the economy, strengthen the network, raise real incomes, and reduce inflation. These efforts are already beginning to show results, and they are laying the groundwork for housing markets where Nigerians can truly own or rent homes that reflect their income levels and living realities.

“We’re stabilizing the economy, boosting the Naira, raising incomes, and slashing inflation to lay the foundation for an accessible housing market. The campaign’s flagship is the State-by-State Homeownership and Housing Development Campaign, embedding Housing Reform Champions as advisors to governors, convening state roundtables, and providing technical and financial support to ensure affordable housing reaches every corner of Nigeria.

“Innovative financing is a cornerstone. The MOFI Real Estate Investment Fund (MREIF) offers 12% interest mortgages, a game-changer for middle-income earners, while FMBN’s Rent-to-Own Scheme allows immediate occupancy with equity built through monthly payments. The Rental Assistance Product eases advance rent burdens for urban workers and young families. Dangiwa noted, “A one-bedroom apartment in Karsana’s Renewed Hope City costs N22 million under PPPs, but only N8–9 million in budget-funded estates,” highlighting affordability gaps between models.

“Beyond housing, the campaign tackles urban decay through 150 slum upgrade projects, integrating roads, water, and solar energy, aligned with UN-Habitat principles. To cut costs, local building materials hubs in six geopolitical zones will boost production, supported by fiscal incentives and private partnerships, addressing the 50–70% of housing costs tied to materials, as noted by former Minister Jerry Gana. The National Social Housing Fund (NSHF), funded by fuel subsidy savings, corporate CSR, and international donors, ensures no Nigerian is left behind, with President Tinubu championing housing as a human right.”

Dangiwa admitted that the biggest gaps in housing delivery are at the subnational levels, where many state governments lack the technical capacity, planning systems and financial tools to act decisively, affirming that a big progress must happen beyond the federal government.