The Nigerian government has unveiled plans to adopt a Public-Private Partnership (PPP) framework to expand housing finance and tackle Nigeria’s housing deficit. This initiative falls under the Renewed Hope Agenda for housing and urban development, aimed at strengthening collaboration with private investors to accelerate nationwide housing delivery.
Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, announced the plan ahead of the Renewed Hope PPP Summit, scheduled for March 17, 2025, at the Shehu Musa Yar’Adua Center in Abuja.
The event, according to Dangiwa, will provide a platform for engaging key stakeholders on innovative financing solutions and strategies to boost housing availability across the country.
He added that the Ministry’s PPP Unit would present a Technical Framework at the summit, outlining structured approaches for partnerships between the government, private sector investors, and housing finance institutions. This framework is expected to streamline investment inflows, reduce bureaucratic hurdles, and enhance efficiency in housing projects.
Nigeria faces a severe housing crisis, with millions of citizens lacking access to affordable homes. In response, the Federal Government launched the Renewed Hope Cities and Estates Programme to address the growing deficit.
Key projects under the initiative include 2,000 housing units in Kano, 3,112 units in the Federal Capital Territory (FCT), 2,000 units in Lagos, and Twelve Renewed Hope Estates (250 housing units each) across the six geopolitical zones.
The Renewed Hope Cities are developed through PPP arrangements, where private developers finance projects via high-interest loans and cover land acquisition and infrastructure costs. Meanwhile, Renewed Hope Estates are funded by the government through budgetary allocations, with subsidies for infrastructure and land provided at no cost.
Due to these funding disparities, one-bedroom units under Renewed Hope Estates cost between N8 million and N9 million, whereas PPP-developed units are priced at N22 million.
To further bridge the housing deficit, the government has been actively engaging global investors. On January 27, 2025, at the Saudi Arabia Real Estate Forum in Riyadh, Dangiwa called on international investors to explore opportunities in the Renewed Hope Cities and Estates programme.
He highlighted Nigeria’s 28 million-unit housing deficit and the rapid urbanisation-driven demand, noting that the country’s real estate sector is projected to reach $2.25 trillion by 2025.
With the upcoming PPP Summit and increasing global interest, the government hopes to unlock sustainable financing solutions that will help alleviate Nigeria’s long-standing housing challenges.
