The Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, stated that Nigeria requires 550,000 housing units to be built annually for N5.5 trillion over the next ten years to tackle the severe housing shortage.
He made this announcement during a meeting with the UK Build and Construction West Africa Trade Mission in Abuja, as contained in a statement on the Ministry’s website.
Dangiwa highlighted the challenges posed by Nigeria’s 200 million population, which is growing at 2.5% annually, and stressed the need for housing that meets UN and WHO standards for habitability, safety, comfort, and infrastructure.
“Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has expressed optimism that the huge housing deficit facing the country can be brought to a halt if a total of 550,000 housing units are built annually at the cost of N5.5Trillion, over the next ten years,” the statement read in part.
The Housing Minister informed the delegation that the Ministry is tackling substandard housing—75% of Nigeria’s 42 million units, according to PwC—through urban renewal and new construction.
The Minister outlined the Ministry’s action plans, including the inauguration of four Housing Reform Task Teams, all finalizing their reports.
Arc. Dangiwa reviewed the Renewed Hope Cities and Estates Programme, launched by President Bola Ahmed Tinubu, aiming to build 50,000 housing units across Nigeria. This includes 1,000 units per site in each of the six geo-political zones and the FCT, and 250 units per site in the remaining 30 states. Groundbreakings have commenced for two Renewed Hope Cities (FCT and Kano) and twelve Renewed Hope Estates, totaling 6,612 homes.
What you should know
Nairametrics previously reported that the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, formally requested an annual allocation of N500 billion from the Senate to address the housing deficit under the Renewed Hope Estates and Cities initiative.
Dangiwa highlighted the significant gap between budgetary provisions and the nation’s housing needs, noting that N5.5 trillion per year is required to achieve an annual increase of 550,000 housing units over the next decade. The requested N500 billion represents less than 10% of the needed amount each year, he noted.
The Senate Committee on Lands, Housing, and Urban Development endorsed Dangiwa’s request. During an oversight invitation by the committee, Chairman Sen. Aminu Tambuwal assured Dangiwa of full support in achieving the Ministry’s mandate, particularly in housing development.
Vice Chairman Sen. Victor Umeh also supported the request, citing the justification for the N500 billion allocation due to the country’s significant housing deficit, inflationary trends, and foreign exchange challenges.