By Perpetua Onuegbu, NEWS AGENCY OF NIGERIA
President Bola Tinubu has performed the groundbreaking ceremony for the N126.5billion Renewed City project to build 3,112 housing units in Karsana, Federal Capital Territory (FCT).
At the official groundbreaking ceremony on Thursday, he described housing as an important component for propelling the engine of economic growth and prosperity of Nigeria.
According to him, shelter is a necessity and a human right, hence, housing is at the front burner of his administration.
“When we all work together, we can build together and achieve together the prosperity of our nation,” President Tinubu said.
In his remarks, the Minister of Housing and Urban Development, Mr Ahmed Dangiwa commended the President for his steadfastness to address the housing deficit in the country.
“Your Excellency has graciously approved the total sum of N126.5billion from the 2023 supplementary and 2024 budget for these projects, including slum upgrade and urban renewal.
“We have also made cross subsidy a key part of our efforts to enhance affordability for low-medium income earners to foster integrated living.
“Under this concept, the housing units built in the Renewed Hope Cities will be sold at a commercial rate.
“While a substantial percentage will be sold at concessionary rates to low and medium-income Nigerians who are members of the Nigeria Labour Congress and the Trade Union Congress.
“The Programme is not only a grand vision, it is a necessity for many reasons.
“As our population continues to grow, the demand for housing and urban infrastructure is rapidly growing.
“Our existing cities are, therefore, grappling with issues of congestion, inadequate housing and strained infrastructure.”
The minister noted that establishing new cities and estates would enable the deliberate plan and design of urban spaces that were not only beautiful additions to the landscape but also efficient and sustainable.
He also said that, given the climate challenges facing the nation, the housing sector would contribute its quota to help Nigeria meet its green gas reduction targets.
“We believe that implementing green building techniques, efficient waste management and creating green spaces can contribute to a healthier and more environmentally friendly urban landscape.
“Under phase One, we plan to deliver a total of 50,000 housing cities across Nigeria.
“The cities will have 1,000 housing units per site in one location in each of the six geo-political zones and the FCT while the estates will have 500 housing units per site in the remaining thirty (30) States.
“We have designed the Renewed Hope Cities as integrated living communities targeting all income brackets.
“They comprise one-bedroom blocks of flats, two-bedroom blocks of flats and three- bedroom blocks of flats; two, three and four-bedroom terraces; four-bedroom duplexes and five-bedroom duplexes.”
He said that the programme aimed to address social inequalities by providing a broad range of affordable ownership options.
According to him, these include single digit interest and up to 30 years mortgage loans to be provided by the Federal Mortgage Bank of Nigeria.
He said there would also be Rent-to-Own options, where beneficiaries could move in and pay towards home ownership in monthly, quarterly or annual installments as well as outright Purchase for high income earners.
“I urge the Minister of FCT, Mr Nyesom Wike, to include the construction of access roads to the Karsana site and other Renewed Hope Cities sites in the FCT in your road expansion programme,” Dangiwa said.
For his part, Sen. Aminu Tambuwal, the Chairman, Senate Committee on Housing congratulated the President for separating the ministry of housing from works and assured him of the support of the National Assembly.
The News Agency of Nigeria (NAN) reports that funding for the housing projects will come from a mix of sponsors.
It is comprising the Federal Ministry of Housing and Urban Development’s budgetary allocation, the Federal Mortgage Bank of Nigeria (FMBN) and Public Private Partnerships with reputable developers. (NAN)
