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From Isaac Anumihe, Abuja
Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa has said that the government would need N5.5 trillion per annum to build approximately 550,000 housing units as part of measures to address the deficit challenge.
Dangiwa said this while performing the groundbreaking for 10,000 housing units in Enugu State, today.
The Minister lamented that the huge housing deficit in Nigeria is the result of ineffective implementation of housing policies, suboptimal performance of housing delivery institutions, an undeveloped housing market, an untapped secondary mortgage market, and, of course, a tough macroeconomic environment.
“As you may be aware, the housing challenge in our country is immense. Statistics show that to address this problem, we need to build approximately 550,000 housing units annually over the next 10 years, which would require about N5.5 trillion per annum,” he said.
Decrying the enormous challenge that the deficit poses, he said the situation must be perceived as an opportunity to innovate and bring about solutions that will trigger sustainable housing delivery in Nigeria not just in the short-term, but for future generations as well.
“This huge housing deficit is the result of ineffective implementation of housing policies, suboptimal performance of housing delivery institutions, an undeveloped housing market, an untapped secondary mortgage market, and, of course, a tough macroeconomic environment” he said.
To address these issues, he said, a mix of solutions are being pursued to bridge the deficit including exploring funding options, such as private sector developers, housing finance institutions— both local and international— philanthropic bodies, well-meaning Nigerians, and corporate Nigeria on board to make the necessary impact, as well as partnerships with reputable private developers.
“Like all other systemic problems hindering our nation’s development, the administration of His Excellency, President Bola Ahmed Tinubu, is boldly and frontally addressing the housing deficit to change the narrative for good.
“Already, the results are visible. In just over one year, under the Renewed Hope Cities and Estates Programme, we have commenced construction work for a total of 6,612 housing units across 13 states and the FCT, with many of these units now at advanced stages of completion. We intend to complete most of them by December, so Nigerians can begin to own these homes.
“Additionally, work has started on 3,500 housing units across three new Renewed Hope Cities, including 2,000 units in Lagos (South West) and 1,500 units in Kano (North West). In the South East, we selected Enugu for the development of a 2,000-unit Renewed Hope City, which will be delivered as part of the MoU we signed with a consortium of developers for 100,000 housing units nationwide,” he added.
Commending the governor for creating the enabling environment and making available 260 hectares in a viable location, he urged him to continue the good work he has started.
“I would like to express my profound appreciation to the Executive Governor of Enugu State, His Excellency, Dr. Peter Mbah for creating an enabling environment for private sector participation in housing development in the state.
“I have been here on a couple of occasions and had a series of interactions with His Excellency and I can say that he is a visionary leader who is quietly doing and accomplishing great things. Your Excellency, Enugu State is lucky to have you as a governor. Without Your Excellency’s support and encouragement, this project that we are here to perform the groundbreaking for would not have been possible,” he noted.
Dangiwa also commended the Managing Director/Chief Executive of Copen Group (estate firm), Rev. Dr. Sullivan Chime, whom he described as a good friend, housing stakeholder, and advocate for affordable housing, for the example he is setting in the state and beyond.
“I have known Chime for several decades now, and throughout this time, I have never had cause to doubt his integrity, professionalism, friendship, and commitment to public service. The Graceland Estate, for which I am here to perform groundbreaking today, adds another feather to Chime’s impactful life as a reputable developer. As the Ministry of Housing and Urban Development, we are proud to be a part of this project under the broad framework of our Renewed Hope Housing Programme,” he concluded.
In his remarks, Governor Mbah, represented by the Deputy Governor, Barrister Ifeanyi Ossai, hailed the initiative by Copen Group, describing its Managing Director, Chime as an illustrious son of Enugu State. He further hailed the support of the Ministry of Housing and Urban Development for the project and for capturing Enugu State in the Renewed Hope Cities & Estates programme through the planned 2,000-unit Renewed Hope City.
The governor charged stakeholders to do more to bring down the cost of housing construction.
“We must invest in research. We have to find a way to creatively reduce the cost of construction by reducing our reliance on cement… I am happy that you have been able to design an approach and bring together all the parties needed to make this project affordable and accessible to our people,” he said.
ENDS
