The Federal Government and Shelter Afrique, a pan-African housing development finance institution, on Thursday, signed a Memorandum of Understanding to construct 5,000 housing units across the country.
The signing of the MoU took place in Abuja at the ministerial press briefing to mark the one year in office of the Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa.
Speaking on the importance of collaboration, Dangiwa noted that the initiative marked the first time the ministry would engage in such a direct and practical partnership with a multilateral institution.
“We are set to sign a Housing Development Partnership with Shelter Afrique Development. Under the Partnership, the Pan-African housing institution will support the Renewed Hope Programme with advisory services and financing of competent developers,” he added.
Dangiwa, who spoke about Nigeria’s significant stake in Shelter Afrique, noted that the country is the second-largest shareholder in the institution, following Kenya.
“Nigeria holds over $29m in share subscription in ShafDB. This partnership is not just timely but necessary as we work towards bridging the massive housing deficit that our nation faces,” he said.
The minister lauded the commitment of Shelter Afrique’s leadership, particularly acknowledging the presence of the Managing Director, Mr Thierno Hann, who travelled from Kenya to attend the event.
“I want to especially thank the Managing Director of the Bank, Mr Thierno Habib Hann, for coming from Kenya to be a part of today’s event. His presence underscores the importance of this partnership.”
“This initiative is a component of the broader Renewed Hope Agenda of President Bola Tinubu’s administration, which seeks to increase the stock of affordable housing in Nigeria.
On the progress made in the last one year, Dangiwa said his ministry recorded groundbreaking of 6,612 housing units across 13 locations nationwide under the Renewed Hope Cities Initiative.
He stated that the 6,612 housing units are expected to employ over 165,000 skilled and unskilled Nigerians.
The minister, however, announced plans for additional housing projects in Lagos, Kano, Enugu, Borno, Nasarawa, and Rivers under the Renewed Hope Cities and Estates Programme.
“We plan to do groundbreaking for 2,000 housing units Renewed Hope Cities in Lagos and 1,500 housing units in Kano next month,” he said
Dangiwa, however, called for increased budgetary allocations to sustain the momentum, adding that more funds would assist the ministry to implement its ambitious housing projects.
“We made a solemn request for the budgetary allocation of a minimum of N500bn per annum for the Renewed Hope Cities and Estates Programme. Our request was well-received by the National Assembly.”
Speaking Earlier, Hann, who commended Nigeria for its contributions to the growth of Shelter Afrique, announced the readiness of the housing investment bank to support the country with a 5000-housing unit.
He said, “The Land of Intent and Roadmap that we are about to sign today represent a landmark and historical milestone in Shelter Africa Development Bank’s partnership with Nigeria for advisory services and financing of developments and PPPs towards the construction of 5,000 affordable housing units to support the Renewed Hope Agenda of the Ministry for Housing and Urban Development.