ABUJA, Nigeria — President Bola Ahmed Tinubu has defended his administration’s housing programme, saying significant progress has been made toward expanding home ownership, increasing access to affordable mortgages and boosting construction activity across the country since he assumed office.
Okay News reports that the president, in a detailed account of his housing agenda, said the government had moved beyond policy promises and was already delivering housing projects across multiple states. He noted that while his administration initially pledged to develop 100,000 homes nationwide, construction is currently ongoing on more than 15,000 housing units, including large-scale developments in Abuja and Lagos.
According to the president, work is advancing on more than 3,000 homes in Karsana, Abuja, while a 2,000-unit housing development in Ibeju-Lekki, Lagos, has reached an advanced stage, with sales already underway. He added that the government’s housing strategy extends beyond construction to reforms aimed at improving land ownership, reducing building costs and strengthening access to construction equipment.
Tinubu said the administration is working with international development partners to expand formal land registration across Nigeria, describing land titling as a critical step toward unlocking economic value and improving access to finance. He also highlighted efforts to establish building materials hubs across the country and introduce transparent pricing systems for government-backed housing projects.
On housing finance, the president disclosed that 1,859 families across 25 states have secured mortgages valued at ₦128 billion through the MOFI Real Estate Investment Fund. The loans, he said, carry an interest rate of 9.75 per cent and repayment periods of up to 20 years. He added that the Family Homes Funds programme is continuing efforts to provide housing for low-income Nigerians, widows and vulnerable households while supporting job creation within the construction sector.
The president acknowledged that Nigeria’s housing deficit remains substantial and cannot be eliminated overnight. However, he argued that ongoing reforms are creating stronger links between land administration, construction, building materials supply, equipment financing and mortgage accessibility. He further described housing as both a social necessity and an economic growth driver, noting that increased activity in real estate and construction is contributing to national output, employment and investment.
Tinubu maintained that the goal of the Renewed Hope housing programme is to ensure that more Nigerians have a realistic pathway to home ownership, while simultaneously stimulating economic development through sustained investment in the housing value chain.
