The Federal Government has accumulated more than ₦70 billion in private investment for the Renewed Hope Housing Programme, as disclosed by Ahmed Musa Dangiwa, Minister of Housing and Urban Development.
The Housing Programme encompasses, Renewed Hope Cities, Renewed Hope Estates, created for “Nigerians across different income brackets”.
The Federal Mortgage Bank of Nigeria is pushing out new support schemes such as “Rent-to-Own plan and a Rental Assistance Product”, to enable easy access to affordable housing.
A statement signed by Kamorudeen Yusuf, Personal Assistant on Special Duties to the President, on Tuesday 5 August, 2025, reads: “The Federal Government has mobilised over ₦70 billion in private investment to support its Renewed Hope Housing Programme, according to Minister of Housing and Urban Development, Ahmed Musa Dangiwa. Speaking at the 19th Africa International Housing Show in Abuja, the Minister said the initiative is not only focused on building homes but also on creating sustainable economic structures.
“The housing programme includes Renewed Hope Cities, Renewed Hope Estates, and Renewed Hope Social Housing Estates, designed to cater to Nigerians across different income brackets. The initiative is also expected to generate significant employment opportunities in the construction sector.
“The Federal Mortgage Bank of Nigeria is introducing new support schemes, such as a Rent-to-Own plan and a Rental Assistance Product, aimed at easing access to affordable housing for young families and urban workers.
“Additionally, the upcoming MOFI Real Estate Investment Fund will enhance access to long-term mortgage financing.
“A nationwide campaign will also be launched to support state-level housing policy reforms and implementation, including the deployment of housing reform champions and local roundtables.
“These ambitious reforms and strategic investments reflect President Bola Ahmed Tinubu’s unwavering commitment to delivering real, people-focused change through the Renewed Hope Agenda, making affordable housing not just a promise but a reality for millions of Nigerians.”
