Housing sector can unlock Nigeria’s $1trn economy – Minister

The Minister of Housing and Urban Development, Ahmed Dangiwa, stated that developing Nigeria’s housing market could be key to achieving the country’s $1 trillion economy target. He made this statement at the groundbreaking ceremony for the 250-unit Renewed Hope Estate in Akwa Ibom.

Dangiwa highlighted that under the current administration, Nigeria is becoming a hub of construction activity. This project is part of the Renewed Hope Cities and Estates program initiated by President Bola Tinubu, which began with the groundbreaking of the 3,112-unit Renewed Hope City in Karsana, Abuja, in February 2024.

The program also includes projects in various states, such as a 500-unit Renewed Hope City in Kano and 250-unit estates in Katsina, Gombe, Yobe, and Sokoto.

“We aim to transform Nigeria into a massive construction site. This estate, like the others, features 50 one-bedroom semi-detached bungalows, 150 two-bedroom semi-detached bungalows, and 50 three-bedroom semi-detached bungalows. These housing units are designed to be affordable and expandable as beneficiaries’ incomes grow,” Dangiwa explained.