The Federal Government has set aside 11.5 billion naira to build 20,000 housing units as part of the Renewed Hope Agenda housing scheme.
This sum is part of the over 98.2 billion naira overall budgetary allotment for the Federal Ministry of Housing and Urban Development.
The ongoing project aims to to alleviate the country’s housing shortage, improve housing infrastructure and guarantee Nigerians access to adequate homes is reaffirmed by this large expenditure.
As of right now, 13,612 Renewed Hope Cities and Estates housing units are being built at different phases of development. This allocation will be used to finance the remaining units required to reach the 20,000-unit target, as well as to make financial commitments for ongoing initiatives.
Beyond the Renewed Hope Agenda scheme, an allocation of N3 billion for a prototype housing scheme in Suleja, Niger State, and Ikorodu, Lagos State, was included in the allocations under the Ministry of Housing and Urban Development.
