President Bola Ahmed Tinubu has performed the groundbreaking of the 3,112 housing-unit Renewed Hope City in Karsana, Abuja.
The estate was planned through a public-private partnership between the Ministry of Housing and Urban Development and a consortium of companies for the construction of 100,000 housing units nationwide.
The ministry plans to construct 50,000 housing units of various house types in the first phase using various funding sources, including budgetary allocations, the Federal Mortgage Bank of Nigeria, and public-private partnerships, among others.
Speaking in his keynote address on Thursday, Tinubu stressed the importance of housing to man, describing it as a fundamental right and the responsibility of government to its citizens.
Tinubu, making his first public appearance after returning from a two-week private visit to Paris, also commended the ministry for its efforts towards achieving the Renewed Hope mandate for housing and urban development.
He said, “I listened to the minister say they are committed to transforming Nigeria into a giant construction site of housing units. He has shown that he is an exemplary champion that understands how to use housing as a catalyst for economic resurgence and national development. We must all be positive about our country and work together so that we can win together.”
The president further commended the Housing Ministry for taking the initiative to involve the private sector through PPP arrangements, underscoring the immense role the private sector can play in helping to achieve the future that Nigerians can be proud of.
“I am happy to hear that the Federal Ministry of Housing and Urban Development has already awarded contracts for the construction of 200 housing units in twelve (12) states (2 per geo-political zone) as Renewed Hope Estates. In this regard, the Minister is to proceed with the groundbreaking ceremonies in the twelve (12) locations and the estates must be completed before the end of 2024.
“I am also delighted to hear that the Renewed Hope Cities are being developed in three locations: Kano 1,500 housing units; Lagos 2,500 housing units and Abuja 3,112 under a variety of funding arrangements. The Ministry’s plan to kickstart a National Urban and Slum Upgrading Programme covering 26 sites nationwide is also commendable,” he said.
Tinubu said in the next couple of weeks he would also be performing the groundbreaking of a similar project to deliver 2,500 housing units at the Ibeju–Lekki coastal city, Lagos.
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