Nigerian President Asiwaju Bola Ahmed Tinubu, on Thursday, flagged off the construction of 3,112 pilot housing projects under the Renewed Hope Housing Initiative in the Karsana area of the Federal Capital Territory.
The Informant247 gathered that the estate was planned through a public-private partnership between the Ministry of Housing and Urban Development and a consortium of companies to construct 100,000 housing units nationwide.
According to reports, the ministry plans to construct 50,000 housing units of various house types in the first phase using multiple funding sources, including budgetary allocations, the Federal Mortgage Bank of Nigeria, and public-private partnerships, among others.
Tinubu, while speaking in his keynote address, stressed the importance of housing to man, describing it as a fundamental right and the government’s responsibility to its citizens.
Tinubu, making his first public appearance after returning from a two-week private visit to Paris, also commended the ministry for its efforts towards achieving the Renewed Hope mandate for housing and urban development.
He said, “I listened to the minister say they are committed to transforming Nigeria into a giant construction site of housing units. He has shown that he is an exemplary champion that understands how to use housing as a catalyst for economic resurgence and national development. We must all be positive about our country and work together so that we can win together.”