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From Isaac Anumihe, Abuja
Federal Government, yesterday, said that the purpose of the Renewed Hope Cities and Estates is to build a $1 trillion economy.
Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa said this at the completion of the second leg groundbreaking of Renewed Hope Housing Programme in Ibadan, Oyo State.
The eight states covered under the second leg were Ebonyi and Abia (south east), Akwa Ibom and Delta (south-south), Osun and Oyo (south-west), and Benue and Nasarawa states (north-central).
Last month, the first leg of the exercise included the groundbreaking for 1,500 units in five northern states which covered Renewed Hope Estates in Katsina, Yobe, Gombe, and Sokoto, and a Renewed Hope City in Kano.
Dangiwa led the groundbreaking for the 250-housing units Renewed Hope Estates in Ibadan, Oyo State capital, with the assurance of completing all the housing projects in a couple of months.
The Oyo event marks the completion of the second round groundbreaking, resulting in a total of 2,000 housing units across eight states.
The phase one of the Renewed Hope Housing Programme aims to deliver 50,000 housing units across Nigeria, including seven Renewed Hope Cities with 500 to 1,000 units each in the six geopolitical zones and the Federal Capital Territory (FCT), and 250-unit Renewed Hope Estates in the remaining 30 states.
The programme, according to a statement, aims to create jobs, uplift lives, and boost economic development, aligning with the President’s Renewed Hope Agenda to stimulate inclusive growth, lift 100 million Nigerians out of poverty, and build a $1 trillion economy.
Work, the statement noted, is ongoing at the various project sites in all the states selected under phase one, with plans for completion within a few months.
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The Oyo Estate will consist of 50 one-bedroom semi-detached bungalows, 150 two-bedroom semi-detached bungalows, and 50 three-bedroom semi-detached bungalows.
The housing units are designed for affordability and future expansion, allowing owners to expand their homes as their financial situation improves.
Dangiwa, the statement further noted, tasked the contractors in Oyo State, Skyhawk Nigeria Limited, Plusvaz Nigeria Limited, Blue Sea Investment Limited, and Harama Global Limited with ensuring high-quality construction.
He emphasised zero tolerance for substandard work and the necessity of adhering to timelines.
Various purchasing options for the houses include, single-digit mortgage loans, rent-to-own schemes by the Federal Mortgage Bank of Nigeria, and outright purchase options, have been created to ensure affordability for all Nigerians.
The construction of these 250 units in every state is expected to create over 6,500 jobs across various trades, contributing to significant economic activity and impact, the statement noted
Meanwhile, the project will also generate numerous economic activities, benefiting those involved in food sales, block supply, and building material provision.
The minister emphasised the importance of land provision for these projects. States not covered under the 2023 supplementary budget will be included in the 2024 Budget, provided they offer land at no cost.
The minister thanked Oyo State Governor, Oluwaseyi Makinde for providing land at no cost, reducing housing costs by up to 30 per cent. He also expressed gratitude to President Bola Ahmed Tinubu for his vision and political will to deliver quality housing to Nigerians.
However, the Renewed Hope Housing Programme continues to demonstrate the federal government’s commitment to fulfilling its promises and responsibilities to the Nigerian people.
