Housing Ministry Secures Deal for 100,000 Affordable Homes
In a move to tackle Nigeria’s housing crisis, the Ministry of Housing and Urban Development has inked a Memorandum of Understanding (MOU) with a consortium of private sector companies, led by Continental Civil and General Construction Company Limited and Ceezali Limited. The agreement aims to deliver 100,000 affordable housing units nationwide, addressing the severe housing deficit.
The MOU, signed at the Ministry’s Abuja headquarters on Thursday, marks a pivotal moment for the nation’s housing strategy, aligning with the Renewed Hope Cities and Estates Projects. The consortium will spearhead the project, focusing on Public Private Partnership arrangements, a key element of the Ministry’s housing delivery strategy.
The ambitious plan unfolds in two phases, commencing with 20,000 units in the Federal Capital Territory, followed by 80,000 units distributed across the six geopolitical zones.
Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, emphasized the thorough planning behind the MOU, outlining that the consortium will finance and construct the units while the Ministry facilitates affordable mortgage loans through the Federal Mortgage Bank of Nigeria.
Addressing the critical issue of job creation, the Minister highlighted the project’s alignment with President Bola Tinubu’s vision to lift 100 million Nigerians out of poverty. The PPP arrangement is projected to generate 2.5 million direct and indirect jobs.
Consultant for the consortium, Damola Akindolire, underscored the unprecedented nature of this PPP arrangement, highlighting its scale and impact on Nigeria’s housing deficit. Executive Director of Continental Civil and General Construction Company Limited, Alamu Adegbenga, and Contract Manager of Ceezali Limited, Sule Wada, assured the Minister of their capacity to meet project goals based on their track record.
The event concluded with the symbolic signing of the MOU by the Minister and consortium representatives, symbolizing a collaborative stride towards a housing solution for Nigeria.
