Dangiwa: Over N70bn Private Capital Mobilised to Drive Urban Housing

Emmanuel Addeh in Abuja 

The Minister of Housing and Urban Development, Ahmed Dangiwa, has stated that over N70 billion has so far been mobilised under a Public Private Partnership (PPP) to upscale Nigeria’s urban housing development.

Speaking while officially declaring open the 19th Edition of the Africa International Housing Show (AIHS), Dangiwa reaffirmed the commitment of the federal government to bridge Nigeria’s housing gap through bold, inclusive, and innovative reforms.

A statement by Special Assistant Media & Strategy to Dangiwa, Mark Chieshe, stressed that the minister noted that affordability remains the biggest barrier to homeownership on the continent, despite growing housing supply efforts.

“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 for Nigerians today and in the future,” the minister said.

He highlighted the federal government’s three-tier Renewed Hope Housing Programme – comprising Renewed Hope Cities, Renewed Hope Estates, and Renewed Hope Social Housing Estates – as the blueprint for delivering affordable homes nationwide. 

“To date, over N70 billion in private capital has been mobilised under Public-Private Partnerships (PPPs) to drive large-scale urban housing developments,” Dangiwa stated.

The minister also spotlighted key interventions by the Federal Mortgage Bank of Nigeria (FMBN), including the Rent-to-Own Scheme and Rental Assistance Product, designed to ease housing pressure on urban workers and young families, as well as the upcoming MOFI Real Estate Investment Fund (MREIF) to expand access to long-term mortgage loans at affordable rates.

He further reiterated the commitment of the ministry to urban renewal and slum upgrades, aligning with the UN-Habitat Global Action Plan and the Addis Declaration on Inclusive Urban Development to ensure that “no one and no place is left behind.”

Dangiwa called on development finance institutions, donor agencies, and the private sector to partner with the federal government in transforming shared knowledge from forums like AIHS into tangible results for Nigerians.