The Nigerian government has set an ambitious target of creating 1.2 million jobs within the construction sector, leveraging affordable housing initiatives as a catalyst for economic expansion and employment generation.
Mr. Musa Dangiwa, the Minister of Housing and Urban Development, unveiled this plan during the official launch of the Renewed Hope Cities and Estates programme and the groundbreaking ceremony for a pilot project site consisting of 3,112 housing units in Karsana, Abuja, Nigeria’s capital.
Highlighting the pivotal role of housing in job creation, entrepreneurship promotion, and poverty alleviation, Minister Dangiwa emphasised the transformative potential of the Renewed Hope Cities and Estates Programme.
The Renewed Hope Cities and Estates Programme is designed to be a catalyst for economic growth. The construction and development of these new areas will generate employment opportunities, stimulate local businesses, and attract investments. The 50,000 units that we plan to deliver under phase 1 will create 1,250,000 direct and indirect construction jobs. This is in addition to the value chain effects of purchase, supply of building materials, businesses around the construction sites, etc,” remarked Minister Dangiwa.
According to the minister, the programme encompasses a comprehensive approach to development, encompassing urban planning, economic stimulation, social inclusivity, and environmental sustainability.
“This programme aligns with President Bola Tinubu’s broader vision of national development. It is a step towards creating smart and modern cities that can compete on a global scale, attracting both domestic and foreign investments. This will not only enhance our country’s image but also position Nigeria as a forward-thinking nation ready to embrace the challenges of the future,” he added.
Minister Dangiwa underscored the pilot nature of the project, which operates under a public-private partnership (PPP) model between the Federal Ministry of Housing and Urban Development and a consortium of developers led by Continental Civil and General Construction and Ceezali Limited. This partnership, established in December 2023, aims to deliver a total of 100,000 houses across the nation.
“Under this PPP arrangement, the Ministry is creating the enabling environment and facilitating off-takers for the houses through the Federal Mortgage Bank of Nigeria (FMBN) while the developers will source for land and finance the construction. By encouraging these PPP arrangements, we are taking the financial burden off the government while meeting our citizens’ needs for decent and quality shelter,” explained Minister Dangiwa.
He expressed confidence that the Renewed Hope Cities and Estates project would alleviate urban congestion and enhance the overall quality of life for residents.
In his remarks, President Bola Tinubu reiterated his government’s unwavering commitment to providing affordable housing as a means of driving economic growth and fostering job creation.
“We know the value of housing, and we appreciate the fact that it is an elixir for economic prosperity and job creation,” affirmed President Tinubu.
The Ministry of Housing’s Renewed Hope Cities and Estates initiative not only aims to bolster economic growth but also seeks to harness foreign exchange from the $24 billion diaspora remittances, thereby fostering investment and projecting a positive economic outlook for Nigeria.