The Federal Government has introduced uniform pricing for housing units under the Renewed Hope Housing Programme, aiming to enhance affordability and equitable access across Nigeria.
Announced by the Ministry of Housing and Urban Development, the new prices are N8.5 million for a one-bedroom semi-detached bungalow, N11.5 million for a two-bedroom, and N12.5 million for a three-bedroom unit.
The initiative is designed to promote transparency and fairness, ensuring that Nigerians in all regions benefit equally from the housing scheme. Sales of completed units in both northern and southern regions are expected to commence shortly.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority will be given to low- and middle-income earners, civil servants, private sector employees with verifiable income, and Nigerians in the diaspora seeking homeownership.
To support accessibility, the ministry has introduced multiple payment options. These include outright purchase, mortgage financing, rent-to-own schemes, and installment plans, according to Permanent Secretary Dr. Shuaib Belgore.
The Renewed Hope Housing Programme, a flagship initiative under President Bola Tinubu’s administration, targets the construction of 34,500 housing units. These will be distributed across “Renewed Hope Cities” in each geopolitical zone and “Renewed Hope Estates” in 30 states.
A new online portal has been launched to streamline the application and allocation process, further enhancing transparency and ease of access for prospective homeowners.
Nigeria’s housing deficit is currently estimated at 28 million units, with some experts suggesting it could be as high as 50 million. The shortfall is attributed to rapid urbanisation, limited mortgage access, and high construction costs.
By standardising prices and expanding financing options, the government aims to close the housing gap and make homeownership more attainable for millions of Nigerians.
