President Bola Tinubu has affirmed that his administration is making consistent progress in fulfilling its pledge to broaden access to affordable housing under the Renewed Hope Agenda. In a comprehensive statement on the housing sector, the President recalled that the government committed to delivering 100,000 homes nationwide, with an initial phase of 50,000 units through cities of 1,000 housing units in each geopolitical zone and the Federal Capital Territory, along with estates of up to 500 units across the remaining 30 states.
He noted that implementation is already underway, with over 3,000 housing units launched at Karsana in Abuja, while the 2,000-unit Renewed Hope City in Ibeju-Lekki, Lagos State, is at an advanced stage, with sales currently ongoing. According to him, more than 15,000 housing units are under construction across the country.
Tinubu added that the government is also tackling structural obstacles in the housing sector, including land titling, construction financing, equipment leasing, and pricing transparency. He said efforts are being made to formalize land ownership, improve access to building equipment, and publish standardized housing costs to reduce corruption and uncertainty in the industry.
On housing finance, the President revealed that the MOFI Real Estate Investment Fund has enabled 1,859 families across 25 states to access ₦128 billion in mortgages at a 9.75 percent interest rate over 20 years. He also highlighted the Family Homes Fund scheme, which targets low-income households and has a broader mandate to deliver 500,000 homes while creating approximately 1.5 million jobs.
He acknowledged that Nigeria's housing deficit remains substantial, emphasizing that closing the gap will require sustained effort over time. According to him, the current approach integrates the entire housing value chain—from land administration and construction to financing and household ownership—as part of a broader economic strategy.
“Housing has moved from a welfare conversation to a national growth strategy,” he said, adding that affordable housing delivery is also driving jobs, investment, and economic output. Tinubu stated that the Renewed Hope Agenda represents a long-term commitment to expanding home ownership opportunities for Nigerians, describing it as a right rather than a privilege.
