President Bola Tinubu presided over the groundbreaking ceremony for the 3,112 housing-unit Renewed Hope City in Karsana, Abuja, underscoring his administration’s commitment to affordable and decent housing for Nigerians. The event, held on Thursday, marked a significant step towards fulfilling this pledge, with Tinubu emphasizing the project’s importance in addressing the nation’s housing deficit.
The Renewed Hope City initiative forms part of a broader plan to deliver 20,000 housing units in the Federal Capital Territory through a Public Private Partnership (PPP) arrangement, spearheaded by the Federal Ministry of Housing and Urban Development. Tinubu reiterated that providing affordable housing is a cornerstone of his administration’s agenda, aligned with efforts to foster sustained inclusive growth.
Speaking at the ceremony, Tinubu outlined the project’s significance within the framework of the administration’s Renewed Hope Agenda, aimed at implementing a New City Development Plan. He emphasized the creation of integrated living communities that prioritize essential amenities, including reliable electricity, healthcare facilities, and educational institutions.
In addition to addressing housing needs, Tinubu underscored the economic benefits of the initiative, highlighting its potential to create 500,000 jobs. He expressed determination to tackle the housing challenge with boldness and urgency, advocating for Public Private Partnership collaborations and incentive schemes to attract investments.
Tinubu also praised the Federal Ministry of Housing and Urban Development for its progress in awarding contracts for housing units in 12 states and the development of Renewed Hope Cities in Kano, Lagos, and Abuja. He commended plans for a National Urban and Slum Upgrading Programme covering 26 sites nationwide.
Looking ahead, Tinubu announced plans to perform the groundbreaking for a similar project delivering 2,500 housing units at the Ibeju–Lekki coastal city in Lagos. He emphasized the project’s commitment to cross-subsidization, ensuring access to affordable housing for low and medium-income Nigerians.
The President’s commitment to addressing Nigeria’s housing challenges underscores his administration’s dedication to improving living standards and fostering economic growth across the country.
Credit: News Agency of Nigeria (NAN)
