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Tinubu lists achievements in housing sector
President Bola Tinubu has defended his administration’s performance in the housing sector, saying the Federal Government is delivering on its promise to make home ownership more accessible to Nigerians through the implementation of the Renewed Hope Agenda.
In a post shared on X, Tinubu said his administration had moved beyond promises, pointing to ongoing housing projects and reforms aimed at addressing the country’s long-standing housing deficit.
According to the President, the government had pledged to deliver 100,000 homes nationwide, with an initial phase of 50,000 units comprising 1,000-unit housing cities in each geopolitical zone and the Federal Capital Territory, alongside estates of up to 500 units in the remaining states.
He said significant progress had been made toward achieving those targets.
“We broke ground on more than 3,000 homes at Karsana in Abuja, the 2,000-unit city at Ibeju-Lekki in Lagos has reached advanced completion with sales already underway, and across the country, more than 15,000 units are rising as I write this,” Tinubu stated.
The President said his administration had also focused on addressing structural challenges within the housing sector, including land titling, access to construction equipment and the cost of building materials.
He disclosed that the government was collaborating with the World Bank to expand formal land registration, with the goal of increasing the number of registered land titles across the country.
Tinubu added that reforms had been introduced to strengthen the legal framework governing equipment leasing, enabling developers and contractors to obtain construction machinery more easily.
He further noted that the government had published uniform prices for its housing projects to promote transparency and eliminate opportunities for corruption.
According to him, materials hubs are also being established in the six geopolitical zones to encourage the use of locally sourced building materials.
On housing finance, Tinubu said the administration had introduced initiatives to improve access to affordable mortgages.
He revealed that through the MOFI Real Estate Investment Fund, 1,859 families in 25 states had secured mortgages worth N128 billion at an interest rate of 9.75 per cent, repayable over 20 years.
“Terms our people were told for a generation they would never see,” the President said.
He also highlighted the role of the Family Homes Funds initiative, which he said was targeted at widows and low-income earners, with a mandate to deliver 500,000 homes and create 1.5 million jobs.
Tinubu, however, acknowledged that Nigeria’s housing deficit remained substantial and would require sustained efforts over several years to address.
“I will not stand before you and declare the work finished, because it is not. The housing deficit this nation carries is counted in the millions, and it will take years of steady labour to close,” he stated.
The President argued that the housing sector had evolved beyond a social welfare issue into an important driver of economic growth, noting that real estate and construction had become significant contributors to the nation’s Gross Domestic Product.
“Housing has moved from a welfare conversation to a national growth strategy,” he said, adding that investments in affordable housing stimulate employment, industrial activity and household wealth creation.
Reaffirming his administration’s commitment to expanding access to decent housing, Tinubu said every Nigerian deserved “a place called home.”
“Renewed Hope was never charity. It is the right of every Nigerian to a place called home,” the President said