The Federal Government has taken a significant step to tackle Nigeria’s housing deficit by launching the construction of 250 affordable housing units in Benue State. This project is part of the Renewed Hope Housing Estates initiative under President Bola Tinubu’s administration. The groundbreaking ceremony took place at Km18 Makurdi-Gboko Road and was officiated by the Minister of Housing and Urban Development, Arc. Ahmed Musa, represented by the Minister of State, Alhaji Abdullahi Gwarzo.
Renewed Hope for Housing
During the ceremony, Alhaji Abdullahi Gwarzo highlighted the overarching goal of the Renewed Hope Housing Estates initiative. “Under Phase One, we plan to deliver a total of 50,000 housing units across Nigeria. This includes seven Renewed Hope Cities, each featuring between 500 and 1,000 housing units in every geopolitical zone and the FCT. Meanwhile, the Renewed Hope Estates will provide 250 units per site in the remaining 30 states,” he explained.
This housing initiative is part of the Renewed Hope Agenda, which aims to unlock the potential of housing development to create jobs, uplift lives, and boost economic development. “With this program, we aim to stimulate inclusive growth, lift 100 million Nigerians out of poverty, and build a $1 trillion economy,” Gwarzo added.
The estate in Benue will consist of 50 units of one-bedroom semi-detached bungalows, 150 units of two-bedroom semi-detached bungalows, and 50 units of three-bedroom semi-detached bungalows. However, the project is funded through the N50 billion 2023 Supplementary Budget approved by President Tinubu. “This ensures the sustainability, quality, and geographic spread of the projects,” Gwarzo emphasized.
Government’s Vision and Local Impact
Benue State Governor Hyacinth Alia, represented by the Commissioner for Works, Housing, and Urban Development, Imojime Tiza, praised the vision and foresight of President Tinubu in addressing the housing challenges faced by the nation. “The Renewed Hope Cities and Estates Program demonstrates the Federal Government’s commitment to tackling the housing deficit in the country,” Tiza remarked.
He further noted the importance of adequate housing as a key government responsibility. “Mr. President’s resolve to prioritize housing provision shows his genuine commitment to public service. This initiative reflects the practical drive of the Renewed Hope Agenda,” Tiza added.
Moreover, Governor Alia assured continued partnership with the Federal Government to drive development across the country. Also, the Governor’s administration will support the Federal Government’s efforts to transform the housing and urban landscape for the collective good of the citizens.
However, the District Head of Mbawa Community, Chief Joseph Ortese, expressed his gratitude for bringing the project to his community. Moreover, he highlighted the employment and wealth creation opportunities that the housing project would bring. “This project will provide significant employment opportunities for our people and create wealth for the community,” Ortese said.
Federal Mortgage Bank’s Commitment
The Federal Mortgage Bank of Nigeria (FMBN) plays a crucial role in this housing initiative. FMBN Managing Director, Shehu Osidi, reaffirmed the bank’s commitment to addressing the housing needs of Nigerians. “We are proud to be a critical partner in this project and are committed to its success. We have provided a N100 billion Off-takers Guarantee for the development and construction of 3,112 housing units at Karsana, Abuja, which was flagged off by President Bola Ahmed Tinubu in February,” Osidi stated.
This guarantee has facilitated the mobilization of necessary funds by a consortium of developers. The bank is also dedicated to supporting potential homeowners who contribute to the National Housing Fund. “At FMBN, we are committed to funding contributors to the National Housing Fund to take up housing units nationwide,” Osidi affirmed.
Also, the initiation of the 250 Renewed Hope Housing units in Benue is a major milestone in addressing the housing challenges in Nigeria. However, it is expected to create job opportunities, promote economic growth, and improve the quality of life for many Nigerians. In conclusion, this project underscores the Federal Government’s commitment to improving housing infrastructure and providing affordable homes to its citizens.
Source: Vanguard
