The Federal Government says President Bola Tinubu’s Renewed Hope Agenda is firmly focused on closing Nigeria’s housing deficit and accelerating broad-based economic growth. This commitment was restated at the 8th Affordable Housing Finance and Investment Summit 2025 held on Tuesday in Abuja. The event focused on innovative financing that supports affordable housing and promotes economic development, aligning with economic growth, real estate investment, mortgage financing, and affordable housing solutions.
Speaking at the summit, the Minister of Housing and Urban Development, Ahmed Dangiwa, represented by the Director of Public Buildings and Housing Development, Pemi Temitope, said the administration was pursuing a comprehensive strategy to expand affordable housing, stimulate job creation, and grow local industries tied to construction.
He explained that the Federal Government had activated a N250billion intervention fund to further address the housing deficit and support real estate development across the country.
Dangiwa said, “Our housing deficit remains colossal, estimated in tens of millions of units and the bottlenecks are well known; such as the high cost of building materials, accessibility to funds. The ministry had taken decisive steps under the renewed housing programme targeting 50,000 units in Phase 1. We are in 15 locations nationwide and we have over 10,000 units under construction.” He noted that the renewed housing programme is designed to unlock mortgage opportunities, support construction financing, and promote inclusive urban development.
Reiterating the government’s stance, Dangiwa said housing was not a luxury but “a fundamental human right and a foundational enabler of national development. The government is no longer seeing housing as a cost, but as an economic engine especially to the teaming public servants.”
To tackle the rising cost of building materials, he added that the ministry planned to establish Building Materials Manufacturing Hubs in each of the six geo-political zones. According to him, “This is a key initiative to reduce costs and break supply-chain bottlenecks.”
Also speaking at the summit, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, represented by the Director of Home Finance, Alhaji Ali Mohammed, reiterated the government’s economic policy direction aimed at addressing Nigeria’s housing challenges.
He said, “Recently, a N250bn intervention programme was floated for developers to get access to funds for the development of housing in Nigeria. We urge developers to key into the programme to reduce the housing deficit in Nigeria. The Ministry of Finance is really committed in providing financial assistance to reduce the housing deficit in Nigeria.”
Edun added that efforts were also ongoing to support housing ownership from the demand side. He revealed that the Federal Government Staff Housing Loan Board under the Head of Service of the Federation was being restructured, noting that the threshold of accessing loans had been increased to help more civil servants own homes.
In his goodwill message, the former Chief of Staff to the President, Prof. Ibrahim Gambari, linked the success of such initiatives to national stability. He said, “When people talk about security, they think about physical security which is important but the biggest security is human security, food security, housing security, environmental security, generally speaking, economic security.” He called for collective efforts in addressing Nigeria’s housing challenges and improving national development.
Earlier, the Convener of the summit, Dr Yemi Adelakun, said past government schemes had failed to make significant impact. He urged stakeholders to collaborate to deliver what he described as “Tinubu houses” to ordinary Nigerians on a revolving basis. According to him, successful housing projects have multiplier effects, creating jobs and catalysing economic development.
