Nigeria’s Housing Revolution: Minister Ata Courts Global Investors for 77,400-Home Plan
Minister of State for Housing and Urban Development Yusuf Abdullahi Ata has declared strategic partnerships and foreign investment critical to solving Nigeria’s 28-million-unit housing deficit, unveiling aggressive targets for President Tinubu’s flagship Renewed Hope Cities and Estates program during talks with international firm Ms Allen Le and Partners.
Key Housing Targets: Breaking Down the Numbers
- Renewed Hope Cities:
- 3,000 units each in Lagos, Abuja, Kano (9,000 total).
- Renewed Hope Estates:
- 250 units in each of 36 states (9,000 total).
- Social Housing Blitz:
- 77,400 units nationwide (100 per Local Government Area).
- Pro-Poor Quota:
- 30% reserved for non-income Nigerians – a “non-negotiable” directive from Tinubu.
Investor Asks: Land, Jobs, and Innovation
In meetings with SV-NED Incorporated (represented by Allen Ke Nam), Ata outlined partnership terms:
- Government Provides: Land allocations, regulatory fast-tracking.
- Investors Deliver:
- Construction financing
- Job creation and skill-transfer programs
- Modern building technologies for affordable units
“Formalize proposals showing where you’ll collaborate. We need actionable partnerships.”
― Minister Ata
Why Global Partners Matter
- Funding Gap: Nigeria requires $363B to close housing deficit (World Bank).
- Speed to Market: Partnerships could accelerate delivery from 5+ years to 24 months.
- Innovation Boost: Foreign firms to introduce cost-saving construction methods.
The Social Imperative: Tinubu’s 30% Mandate
Despite pressure to reduce quotas, Tinubu insisted:
- 30% of all social housing (23,220 units) for Nigeria’s poorest.
- Units include rent-to-own options and micro-mortgages below market rates.
Stakeholder Reactions:
- Investors: “Ready to deploy capital if land access is guaranteed.” – Allen Ke Nam
- Permanent Secretary Dr. Shuaib Belgore: “These partnerships will redefine urban living.”
- Critics: Question land allocation transparency amid past controversies.
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