AfriPulse
Minister of State for Housing and Urban Development, Abdullahi Atah, has launched a dedicated drive to promote youth participation and homeownership as a pathway to social stability and empowerment.
A statement signed by the aide to the minister, Seyi Olorunsola, on Wednesday, said the intervention builds upon and complements the Renewed Hope Housing Programme under President Bola Tinubu’s administration, designed to inject fresh momentum into affordable housing delivery nationwide.
“The Renewed Hope Housing Programme, under the stewardship of the Federal Ministry of Housing and Urban Development, is the flagship housing intervention of the current administration. It targets the delivery of 50,000 housing units across Nigeria in its first phase, via integrated Renewed Hope Cities and Renewed Hope Estates, with additional units to follow under public-private partnership (PPP) arrangements.
“The President in February 2024 inaugurated a 3,112-unit Renewed Hope City in Karsana, Abuja.
“The Ministry recently completed its second leg of groundbreaking, initiating construction of 2,000 units across eight states in the south-east, south-south, southwest, and north-central regions.
“The programme mandates affordability and flexibility in access: using single-digit interest NHF (National Housing Fund) mortgage loans, rent-to-own schemes via the Federal Mortgage Bank of Nigeria (FMBN), installment payment plans, and outright purchases as viable options,” the statement said.
According to Olorunsola, the Ministry has also launched an online delivery portal to streamline registration, property selection, financial eligibility, and award issuance, removing layers of bureaucratic friction.
“In December 2024, the Federal Housing Authority (FHA) opened bids for Renewed Hope projects across 17 states, demonstrating the scale of implementation and demand.
“The initial 1,250 units under construction across four states are already underway, creating an estimated 31,250 direct and indirect jobs in the construction, supply, and allied sectors.
“The Renewed Hope initiative is positioned not only as a housing delivery mechanism, but also as a job creation engine, a stimulus for local content, and an instrument for economic growth,” he said.
The statement further stated that it is against this background that Minister Atah has resolved to embed youth empowerment as a core operating principle within the Housing Ministry’s interventions.
“Homeownership is more than an asset.
“It anchors dignity, stability, responsibility—and when youth are firmly embedded in home-ownership programs, we begin to tame the negative societal vices associated with restlessness, festiveness, and hopelessness,” Atah was quoted to have said.
Source: Platinumpost.ng | Read the Full Story…
