President Bola Tinubu is set to commission 1,000 housing units in the Renewed Hope City, Abuja, in December 2024, offering them for sale to interested Nigerians. These units are part of the larger 3,112-unit Renewed Hope City project, located in the Karsana District, which began in February 2024.
Housing Minister Arc. Ahmed Musa Dangiwa shared the update during the Property and Environment Writers Association of Nigeria (PEWAN) awards in Lagos on November 28, 2024, where he was honored for his contributions to affordable housing and accessible mortgage solutions. The Minister’s remarks were also detailed in a statement on the Ministry of Housing and Urban Development’s official website.
The statement noted that a significant number of the units are nearing completion, and the Minister expressed optimism that the 1,000 units in Abuja will be commissioned by the President in December. These homes will be available for purchase through the official portal, https://renewedhopehomes.fmhud.gov.ng, making homeownership more accessible for many Nigerians.
Key Highlights:
The Renewed Hope Cities initiative is a major part of the Federal Government’s Renewed Hope Cities and Estates Programme, launched by the Ministry of Housing and Urban Development. This program aims to deliver 50,000 housing units in its first phase, which includes one city in each of the six geopolitical zones and the Federal Capital Territory (FCT), as well as estates in the remaining 30 states, each with 250 housing units.
Currently, 14 construction sites are active under the program, totaling 10,112 units nationwide. These include three Renewed Hope Cities and 11 Renewed Hope Estates.
The estates are funded through government budget allocations, with subsidies for infrastructure and free land provided by state governments. In contrast, the Renewed Hope Cities are developed through Public-Private Partnerships (PPP), where private developers finance the projects with high-interest loans, covering land acquisition and infrastructure costs.
Minister Dangiwa also highlighted that due to the different funding mechanisms for the Cities and Estates, the prices of the completed housing units vary significantly.
